SHYAMMETL
Shyam Metalics and Energy share price & financials
- Price
- ₹970.3
- Market cap
- ₹28.7k Cr
- Sector
- Capital Goods
- Calls analysed
- 9
Shyam Metalics and Energy Limited Q1 FY27
What went well
- Revenue of ₹5,455 crores, up 23.3% YoY and 4.1% QoQ, driven by disciplined execution and operational excellence.
- EBITDA of ₹812 crores, up 28.3% YoY and 7.4% QoQ, with EBITDA margin expanding by 100 basis points YoY to 14.9%.
- PAT of ₹351 crores, up 20.6% YoY and 12.6% QoQ, with PAT margin at 6.4% compared to 6% last quarter.
What to watch
- Metal industry continues to witness volatility due to price fluctuations, trade flow, and geopolitical developments.
- Demand for secondary and primary rebars has gone down significantly, attributed by management to seasonal factors like monsoon, floods, and logistics.
What Shyam Metalics and Energy Limited does
Shyam Metalics is an integrated 'ore-to-metal' metals producer with plants across West Bengal, Odisha, Jharkhand and Madhya Pradesh, making carbon steel, stainless steel, ferro alloys and aluminium products. Its carbon-steel chain runs from iron-ore pellets and sponge iron through billets to finished TMT bars, structural steel, wire rods and pipes sold under the SEL Tiger brand, largely powered by its own captive power plants and served by captive railway siding. The company also produces stainless steel long and flat products through a Pithampur (Madhya Pradesh) unit acquired via Mittal Corp, and food-grade aluminium foil and flat-rolled products from plants at Pakuria and Giridih. It is expanding into new verticals including branded colour-coated roofing sheets, ductile iron pipes and, through subsidiary Ramsarup Industries, railway wagon manufacturing.
Segments
- Carbon Steel
- Stainless Steel
- Aluminium
- Railway Wagons / New Ventures
- Combined production capacity
- 16.78 MTPA
- Market position
- 6th largest steel producer in India
- Market position
- 4th largest sponge iron player and a leading player by pellet capacity in India
- Manufacturing plants
- 7 plants across West Bengal (Jamuria, Mangalpur, Pakuria, Kharagpur), Odisha (Sambalpur), Jharkhand (Giridih) and Madhya Pradesh (Pithampur)
- Captive power generation capacity
- 467 MW, meeting ~81% of power requirement
- Export presence
- Ships to 25 countries including USA, Japan, Korea, Italy, Nepal and Bangladesh
Guidance record · Q1 FY27
what the last two calls moved 28 tracked 7 delivered 3 missed 18 open- Aluminum Foil Plant Commissioning delivered said Q3 FY26 Promised: 20,000 tons per annum capacity by June 2026 Q1 FY27: Management announced the successful commissioning of the aluminum foil facility in Odisha during the quarter, meeting the June 2026 deadline.
- Annual Capex Outgo went quiet said Q1 FY25 Promised: ₹2,000 crores for FY25 and FY26 Q1 FY27: The deadline for this promise has passed and it was not retrospectively addressed.
- Consolidated Top Line at risk said Q1 FY25 Promised: ₹25,000 crores by 2026-2027 Q1 FY27: Q1 FY27 revenue of ₹5,455 cr annualizes to ~₹21,820 cr. Management revised FY27 growth guidance down from 'close to 30%' to '>20%', which projects revenue of ~₹22,262 cr, putting the ₹25,000 cr target in serious jeopardy.
All 28 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 23.4%, net profit up 20.6% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,634 | 3,756 | 4,139 | 4,419 | 4,467 +23% | 4,421 +18% | 5,240 +27% | 5,455 +23% |
| EBITDA | 409 | 456 | 515 | 580 | 539 +32% | 487 +7% | 727 +41% | 765 +32% |
| Net profit | 216 | 197 | 220 | 291 | 260 +20% | 198 +1% | 312 +42% | 351 +21% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +16.9% 1Y
1Y: ₹919.05 on 10 Sept 2025 → ₹1,074.8. High ₹1,099.8 (28 Aug 2026), low ₹761.45 (16 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- +0.7%
- 21 Jul
- Q4 FY26
- −7.2%
- 12 May
- Q3 FY26
- +2.6%
- 27 Jan
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 13.6% a year over 3 years, FY23 to FY26. Operating margin widened to 12.6%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹12.7k Cr | ₹13.2k Cr | ₹15.1k Cr | ₹18.5k Cr |
| Operating profit | ₹1.5k Cr | ₹1.6k Cr | ₹1.9k Cr | ₹2.3k Cr |
| Operating margin | 11.9% | 11.9% | 12.3% | 12.6% |
| Interest | ₹94 Cr | ₹134 Cr | ₹144 Cr | ₹192 Cr |
| Depreciation | ₹474 Cr | ₹656 Cr | ₹712 Cr | ₹883 Cr |
| Net profit | ₹844 Cr | ₹1.0k Cr | ₹909 Cr | ₹1.1k Cr |
| Net margin | 6.7% | 7.8% | 6.0% | 5.7% |
| Cash from operations | ₹1.5k Cr | ₹1.8k Cr | ₹2.0k Cr | ₹2.0k Cr |
| Free cash flow | ₹-386 Cr | ₹-93 Cr | ₹-184 Cr | ₹-614 Cr |
| ROCE | 15.0% | 11.0% | 12.0% | 13.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹234 Cr | ₹255 Cr | ₹255 Cr | ₹278 Cr | ₹278 Cr | ₹278 Cr |
| Reserves | ₹3.4k Cr | ₹5.6k Cr | ₹7.0k Cr | ₹9.4k Cr | ₹10.7k Cr | ₹11.2k Cr |
| Borrowings | ₹796 Cr | ₹543 Cr | ₹1.2k Cr | ₹597 Cr | ₹1.1k Cr | ₹1.0k Cr |
| Other liabilities | ₹990 Cr | ₹2.0k Cr | ₹3.1k Cr | ₹4.2k Cr | ₹5.8k Cr | ₹7.5k Cr |
| Total liabilities | ₹5.4k Cr | ₹8.4k Cr | ₹11.6k Cr | ₹14.4k Cr | ₹17.9k Cr | ₹20.1k Cr |
| Fixed assets | ₹1.8k Cr | ₹2.5k Cr | ₹3.3k Cr | ₹4.0k Cr | ₹6.2k Cr | ₹8.1k Cr |
| Capital work in progress | ₹506 Cr | ₹768 Cr | ₹2.8k Cr | ₹3.8k Cr | ₹3.8k Cr | ₹2.8k Cr |
| Investments | ₹282 Cr | ₹1.0k Cr | ₹1.5k Cr | ₹2.3k Cr | ₹2.0k Cr | ₹1.6k Cr |
| Other assets | ₹2.8k Cr | ₹4.2k Cr | ₹4.0k Cr | ₹4.4k Cr | ₹6.0k Cr | ₹7.6k Cr |
| Total assets | ₹5.4k Cr | ₹8.4k Cr | ₹11.6k Cr | ₹14.4k Cr | ₹17.9k Cr | ₹20.1k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs added +5.02 pp while the public trimmed −4.74 pp. The shareholder count shrank 12% to 1,00,443.
- Promoters
- 74.6%
- FIIs
- 3.0%
- DIIs
- 13.8%
- Public
- 8.4%
- Others
- 0.3%
Since Jun 2025
- DIIs +5.02 pp
- Public −4.74 pp
- FIIs −0.24 pp
How it drifted, 12 quarters
Over this window DIIs went from 4.3% to 13.8% — +9.4 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 81.6%, FIIs 1.8%, DIIs 4.3%, Public 11.8%, Others 0.4%.Dec '23: Promoters 81.6%, FIIs 2.0%, DIIs 3.7%, Public 12.3%, Others 0.4%.Mar '24: Promoters 74.6%, FIIs 2.4%, DIIs 4.5%, Public 18.2%, Others 0.4%.Jun '24: Promoters 74.6%, FIIs 2.3%, DIIs 5.4%, Public 17.4%, Others 0.4%.Sep '24: Promoters 74.6%, FIIs 3.5%, DIIs 6.2%, Public 15.4%, Others 0.4%.Dec '24: Promoters 74.6%, FIIs 3.8%, DIIs 6.7%, Public 14.4%, Others 0.4%.Mar '25: Promoters 74.6%, FIIs 3.8%, DIIs 7.7%, Public 13.7%, Others 0.3%.Jun '25: Promoters 74.6%, FIIs 3.2%, DIIs 8.7%, Public 13.2%, Others 0.3%.Sep '25: Promoters 74.6%, FIIs 3.6%, DIIs 8.6%, Public 12.8%, Others 0.3%.Dec '25: Promoters 74.6%, FIIs 3.2%, DIIs 8.9%, Public 13.0%, Others 0.3%.Mar '26: Promoters 74.6%, FIIs 3.1%, DIIs 9.2%, Public 12.8%, Others 0.3%.Jun '26: Promoters 74.6%, FIIs 3.0%, DIIs 13.8%, Public 8.4%, Others 0.3%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Brij Bhushan Agarwal - 2 newly disclosed 8.34% held
- Authum Investment And Infrastructure Limited NBFC / DFI newly disclosed 4.55% held
- Invesco India Contra Fund Mutual fund newly disclosed 1.41% held
- Unitbhai Shantilal Mehta newly disclosed 1.11% held
The same filing shows 1 holder trimming and 3 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Shyam Metalics and Energy Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Subham Buildwell Private Limited | 21.86% | unchanged |
| Narantak Dealcomm Limited Corporate | 15.48% | unchanged |
| Subham Capital Private Limited | 14.61% | unchanged |
| Brij Bhushan Agarwal - 2 | 8.34% | newly disclosed |
| Kalpataru Housefin & Trading Private Limited | 7.67% | unchanged |
| Dorite Tracon Private Limited | 5.09% | unchanged |
| Authum Investment And Infrastructure Limited NBFC / DFI | 4.55% | newly disclosed |
| Life Insurance Corporation Of India Insurer | 3.96% | −1.39 pp |
| Tata Aia Life Insurance Co Ltd-Pension Equity Fund Insurer | 1.67% | unchanged |
| Invesco India Contra Fund Mutual fund | 1.41% | newly disclosed |
| Unitbhai Shantilal Mehta | 1.11% | newly disclosed |
| Brij Bhusan Agarwal & Sons | 0.81% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in SHYAMMETL
Filings to Aug 2026
0 new, 4 added, 1 trimmed, 0 sold out — net +0.02 L shares (+0.5%).
- Held by funds
- ₹45 Cr
- 6 schemes
- Biggest holder
- SBI Comma Fund
- ₹25 Cr · 2.0% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Comma Fund SBI Mutual Fund | ₹25 Cr | held | Dec '23 |
| Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund | ₹12 Cr | +0.01 L | Mar '22 |
| SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund | ₹6 Cr | +0.01 L | Oct '22 |
| Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund | ₹1 Cr | +0.00 L | Sep '24 |
| SBI Nifty 500 Index Fund SBI Mutual Fund | ₹0 Cr | −0.00 L | Sep '24 |
| SBI Nifty Small Cap 250 ETF SBI Mutual Fund | ₹0 Cr | +0.00 L | May '26 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
4 added, 1 trimmed — net +2,009 shares (+0.5%)
- Funds are sitting on
- +47%
- vs est. average cost
- Held by funds
- ₹45 Cr
- 6 schemes · ≈ 0.14% of the company
- Biggest holder
- SBI Comma Fund
- ₹25 Cr · 2.0% of that fund
- Longest holder
- Nippon India Nifty Smallcap 250 Index Fund
- 4y 6m · since Mar '22
Shares held by these funds +1572%
Aug '23 4.08 L shares Jul '26
What the price assumes
ExpensiveTo justify its price of ₹1075, this stock must grow earnings at 19% every year for 7 years. Our analysis caps realistic growth at ~5%. At that growth it is worth ₹496 — downside of 54%.
- Growth the price implies
- 19.2% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 7.9% a year
- net profit, FY23–FY26 · EPS 4.7%
- The gap
- 0.1 pp
- -54% downside if it only repeats history
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Shyam Metalics and Energy Limited
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