Shyam Metalics & Energy has appointed Chandra Shekhar Verma as an Additional Director in the category of Independent Director of the Company for a period of five years. His appointment will be effective from 4 July 2024 till 3 July 2029 subject to the necessary approval of the Shareholders of the Company. Powered by Capital Market - Live News

Shyam Metalics & Energy announced the expansion of its rail infrastructure at its integrated steel plant located in village Pandloi near Rengali, Sambalpur district, Odisha. This initiative supports the company`s long-term goal of continuous expansion and achieving sustainable growth. SMEL`s integrated steel plant, which also includes a coal washery and power plant, has witnessed significant growth in recent years. To meet the demands of this expanded capacity, the company has identified the need to improve its rail infrastructure for efficient handling of incoming raw materials and outgoing finished goods. Previously, the plant operated with two dedicated railway lines for managing raw material intake and finished goods dispatch. As part of the expansion plan, completed in 2023, SMEL has increased the number of lines to four. This includes a lead line branching off from Rengali station, along with three branch lines and an engine escape line. This upgraded infrastructure, approved by the Indian Railway through a DPR (Detailed Project Report) in 2015, is now fully operational with overhead electrification completed and commissioned. This expansion will facilitate the plant to handle more than 110 rakes in a month. Powered by Capital Market - Live News

Net profit of Shyam Metalics & Energy declined 15.50% to Rs 216.54 crore in the quarter ended March 2024 as against Rs 256.26 crore during the previous quarter ended March 2023. Sales rose 5.20% to Rs 3606.20 crore in the quarter ended March 2024 as against Rs 3427.97 crore during the previous quarter ended March 2023.For the full year,net profit rose 21.36% to Rs 1034.79 crore in the year ended March 2024 as against Rs 852.68 crore during the previous year ended March 2023. Sales rose 4.24% to Rs 13195.22 crore in the year ended March 2024 as against Rs 12658.07 crore during the previous year ended March 2023. ParticularsQuarter EndedYear Ended�Mar. 2024Mar. 2023% Var.Mar. 2024Mar. 2023% Var. Sales3606.203427.97 5 13195.2212658.07 4 OPM %12.2512.46 -11.9011.85 - PBDT471.21411.68 14 1595.841510.84 6 PBT331.85274.91 21 939.801036.87 -9 NP216.54256.26 -15 1034.79852.68 21 Powered by Capital Market - Live News

Shyam Metalics & Energy announced that the Board of Directors of the Company at its meeting held on 14 May 2024, has recommended a Final dividend of Rs.2.70 per share (i.e.27%), subject to the approval of the shareholders.Powered by Capital Market - Live News

Shyam Metalics & Energy announced the commencement of operations at recently acquired Ramsarup plant following its indirect acquisition through its wholly owned subsidiary, Shyam Sel and Power in May 2022.This operational commencement is expected to create approximately 2000 direct and indirect job opportunities in the thriving industrial belt of Kharagpur, underscoring Shyam Metalics commitment to driving socio-economic development in the region. Through strategic integration and operational excellence, Shyam Metalics is poised to amplify Ramsarup plants` manufacturing capabilities, driving growth and innovation in the steel sector. Ramsarup plants` boasts advanced infrastructure, including a Direct Reduced Iron (DRI) unit with a production capacity of 1,50,000 Tonnes Per Annum (TPA) complemented by an integrated Captive Power Plant (CPP) unit capable of producing 20 Megawatts (MW) of power. Powered by Capital Market - Live News