Shyam Metalics and Energy announced that its stainless steel production surged 90% YoY to 8,175 MT in September 2024 as compared with 4,304 MT produced in September 2023.
The average realisation of stainless steel increased 18% YoY to Rs 1,26,795 per MT in September 2024.The production of aluminium foil jumped 79% YoY to 1,975 MT with the average realisations increased by 10% YoY to Rs 3,52,005/MT in September 2024.
Speciality alloys production stood at 15,257 MT, up 12% YoY in September 2024 with a 4% YoY increase in average realisation to Rs 1,02,779/MT.
Carbon Steel production advanced 49% YoY to 1,37,513 MT and average realisation slipped 13% to Rs 42,362/MT in September 2024.
The sponge iron production gained 29% to 85,098 MT in September 2024 from 65,783 MT in September 2023 and average realisation dropped 19% YoY to Rs 24,140/MT in September 2024.
The pellet production was higher by 11% YoY to 91,794 MT with 14% YoY decline in average realisation to Rs 7,733/MT in September 2024.
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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 company reported 35.31% jump in consolidated net profit to Rs 276.14 crore on 8.36% rise in revenue from operations to Rs 3,611.61 crore in Q1 FY25 over Q1 FY24.
The scrip fell 0.63% to currently trade at Rs 894 on the BSE.
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