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Revenue
₹5,240 Cr
verified against source
Revenue YoY
27%
reported change
EBITDA
₹756 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Shyam Metalics delivered a record Q4 FY26 with revenue of ₹5,240 Cr (+27% YoY) and EBITDA of ₹756 Cr (+33% YoY), driven by 26% volume growth to 4.94 MT and a favorable product mix shift toward value-added segments like CR coils and stainless steel. EBITDA margin expanded 60 bps YoY to 14.4%, aided by cost discipline and improved realizations. The board approved a new ₹2,700 Cr capex for a specialty wire mill and stainless steel downstream expansion, targeting commissioning by March 2029. Management guided for ~30% EBITDA growth in FY27, supported by ramp-up of CRM Phase 2, aluminium foil, and sponge iron capacity. Key risk: global steel price volatility and geopolitical disruptions could pressure realizations.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects EBITDA to grow ~30% YoY in FY27, driven by volume growth from new capacities and cost efficiencies.
- The CRM complex is expected to contribute EBITDA of ₹10,000-11,000 per ton in FY27.
- Aluminium segment EBITDA per ton is expected to be in the range of ₹35,000-40,000 in FY27.
- The company plans to incur ₹2,900 Cr of capex in FY27 as part of the ₹10,000 Cr total capex program.
Risks flagged
- Geopolitical tensions and trade actions could lead to price pressure and volatility in steel markets, impacting realizations.
- Nickel prices have risen ~20% due to Indonesia supply cuts, posing cost risks for stainless steel production, though 75% of portfolio is low-nickel.
- An ongoing ED investigation related to coal allocation could lead to legal or reputational risks, though management downplays it.
- Central Pollution Control Board identified non-compliance issues; management expects resolution within 3 months.
Key quotes
- We will always believe on the volume growth will never depend on the realization side.
- I would be little bit more conservative you know like I don't want to say because you know for us uh I've been always very very conservative and prudent on my stay on my project and on my targets.
- Our debt will not cross at any point 0.5x to the total equity in any point of circumstances.
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