Shyam Metalics and Energy (SHYAMMETL) Q4 17/18 earnings summary

Executive summary

• FY18 consolidated revenue reached ₹39,237.49 million, up 31% YoY; PAT rose to ₹5,185.11 million from ₹703.68 million.

• Integrated operations, capacity expansion and higher steel prices supported record production and profitability; combined Sambalpur and Jamuria capacity reached 3 MTPA.

Financial highlights

• Consolidated revenue from operations was ₹38,484.47 million vs ₹24,033.66 million; EBITDA was ₹7,711.34 million vs ₹3,392.64 million.

• Consolidated PBT was ₹5,078.58 million vs ₹751.12 million; PAT was ₹5,185.11 million vs ₹703.68 million.

• Standalone revenue was ₹19,048.14 million vs ₹11,942.95 million; PAT increased to ₹2,818.41 million from ₹510.37 million.

• Consolidated operating cash flow was ₹5,027.11 million vs ₹1,229.89 million; investing cash outflow was ₹1,561.47 million.

• Consolidated other income of ₹753.02 million included ₹244.72 million in net exchange gains and ₹37.39 million in derivative fair-value gains.

Outlook and guidance

• Priorities include full utilisation of the existing product mix, optimisation and commissioning of new capacities, and continued cost reduction.

• FY19 planning assumes growth from infrastructure and construction demand, while management cited spare capacity and vertical integration as opportunities.

• The Sambalpur Phase IV expansion was completed; further capacity expansion across production areas was in the pipeline, with projects reported on schedule.