Shyam Metalics and Energy (SHYAMMETL) Q4 23/24 earnings summary

Executive summary

• FY24 consolidated revenue from operations reached ₹13,195.22 crore; EBITDA was ₹1,729 crore and PAT ₹1,029 crore, with production and sales volumes rising YoY.

• Integrated operations, captive power and a net-cash position supported expansion and product diversification amid cyclical steel-market conditions.

Financial highlights

• Consolidated revenue from operations and other income was ₹13,354.20 crore vs ₹12,762.54 crore in FY23; EBITDA ₹1,729 crore vs ₹1,603.88 crore.

• Consolidated PAT rose to ₹1,029 crore from ₹843.49 crore; PBT declined to ₹939.80 crore from ₹1,036.90 crore, including ₹0.03 crore of exceptional merger and acquisition items in FY24.

• Basic EPS was ₹39.54 vs ₹33.07; diluted EPS was ₹39.46 vs ₹33.07.

• Net cash generated from consolidated operating activities was ₹1,794.38 crore; consolidated capex cash outflow for property, plant and equipment was ₹1,887.81 crore.

Outlook and guidance

• ₹4,575 crore capex is earmarked over the next three years for stainless steel, power, iron production and specialty products; value-added products are targeted to reach 80% of revenue within five years, from over 50%.

• Stainless-steel capacity is targeted at 0.7–0.8 MTPA over three to four years; a new foil-stock plant is planned for specialized foil products.

• EV battery foil full-scale operations are expected between FY25 and FY26; product samples received positive approval and MOUs were signed with domestic battery manufacturers.

• Expansion plans include 100 MW of solar capacity and additional captive power projects; renewable capacity is planned to rise to 109.1 MW under the approved expansion program.