Shyam Metalics and Energy (SHYAMMETL) Q4 25/26 earnings summary

Executive summary

• Achieved strong project execution and strategic expansion in FY 2026, including CRM complex completion at Jamuria, blast furnace commissioning at Kharagpur, and greenfield expansions.

• Sales volume for FY 2026 reached 4.94 million tons, up 26% year-over-year, with significant growth in value-added products and expansion across carbon steel, stainless steel, and aluminium.

• Maintained a consistent track record of profitability and growth, with revenue, EBITDA, and PAT CAGRs of 24%, 31%, and 31% over 20 years.

• Board approved new CapEx investment of INR 2,700 crore to deepen value-added and specialty steel segments, expanding manufacturing capacity and product portfolio.

• Audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026, were approved with an unmodified auditor opinion.

Financial highlights

• FY 2026 consolidated revenue: INR 18,552 crore, up 22% year-over-year; Q4 revenue: INR 5,240 crore, up 27% year-over-year.

• FY 2026 EBITDA: INR 2,537 crore, up 21% year-over-year; Q4 EBITDA: INR 756 crore, up 33% year-over-year; EBITDA margin expanded to 14.4%.

• FY 2026 PAT: INR 1,061 crore, up 17% year-over-year; Q4 PAT: INR 312 crore, up 14% year-over-year.

• Full year basic EPS: INR 38.1 per share, up from INR 32.7 last year.

• Net cash from operations: ~INR 2,000 crore; net debt position at -INR 1,514 crore as of Mar-26.

Outlook and guidance

• Management targets 30% growth in FY 2027, with full-year impact from recent capacity additions and new facilities in iron making, billet, TMT, Galvalume, and aluminum.

• CRM EBITDA projected at INR 10,000–11,000 per ton; aluminum EBITDA at INR 35,000–40,000 per ton.

• Targeting ~3x revenue and EBITDA growth over the next five years, aiming for 15-17% CAGR in revenue and 18-20% CAGR in EBITDA.

• Capex projects expected to enhance capacity, operational efficiency, and long-term growth.