Shyam Metalics and Energy advanced 2.06% to Rs 777 after the company announced that its stainless steel production surged 59% YoY to 7,889 MT in December 2024 as compared with 4,960 MT produced in December 2023.
However, the average realisation of stainless steel deceresed 6% YoY to Rs 1,22,681 per MT in December 2024.The production of aluminium foil jumped 32% YoY to 1,910 MT with the average realisations increased by 11% YoY to Rs 3,56,235 /MT in December 2024.
Speciality alloys production stood at 14,502 MT in December 2024, marking a 7% (YoY) increase. However, the average realisation decreased 6% YoY to Rs 89,628 /MT.
Carbon Steel production rose 11% YoY to 1,58,333 MT and average realisation slipped 5% to Rs 42,988 /MT in December 2024.
The sponge iron production fell 31% to 74,305 MT in December 2024 from 1,07,198 MT in December 2023 and average realisation shed 6% YoY to Rs 24,410 /MT in December 2024.
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Pellet production increased by 42% (YoY) to 87,114 MT in December 2024, while the average realisation saw a 5% YoY decline to Rs 8,687 /MT.
Pig iron production zoomed by 772% to 24,594 MT in December 2024 in terms of sales volumes. However, the average realisation decreased by 5% month-on-month (MoM), reaching to Rs 33,595 /MT.
CR Coil/CR Sheets production surged by 69% to 1,932 MT in December 2024 in terms of sales volume. Additionally, the average realisation rose by 14% to Rs 68,057 /MT.
Shyam Metalics and Energy is a leading integrated metal producing company based in India with a focus on long steel products and ferro alloys. The company is amongst the largest producers of ferro alloys, one of the leading players in terms of pellet capacity and the fourth largest player in the sponge iron industry in terms of sponge iron capacity in India.
The companys consolidated net profit dropped 55.3% to Rs 215.68 crore in Q2 FY25 as against Rs 481.97 crore posted in Q2 FY24. However, revenue from operations jumped 23.6% YoY to Rs 3,634.02 crore in the quarter ended 30 September 2024.
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