Shyam Metalics & Energy Q3FY23 Earnings

Leading integrated metal producer Shyam Metalics is situated in India and specialises in tall metal products and ferro alloys. According to installed capacity, the firm is among India’s top producers of ferrous alloys and can offer both intermediate and finished goods along the whole steel value chain.

Financial Results – Management Commentary:

“Overall, our revenue from the steel product now contribute 70% of our revenue in nine months FY ’23 as against 60% in nine month FY ’22 and this increase of 10% has come from the finished steel, so contribution has increased to 45% as against 35.7% in nine months FY ’22. Our revenue has grown in line with our expectations with value addition product increasing the contribution in the product mix.

We expect and keep exploring new opportunities in the metal space to obtain the synergy with our existing manufacturing facility. This enable us to keep our operating cost under control and which we believe is very essential for the reporting profitable revenue. Increased contribution from the recent added capacity along with the product diversity and higher share of the value-added products would drive the operating and financial performance well into the forthcoming financial year.“

– Brij Bhushan Agarwal, Vice Chairman and Managing Director (In Q3FY23 Concall)