Shyam Metalics and Energy Limited — Q4 FY26

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.