Shyam Metalics & Energy Ltd. · NSE:SHYAMMETL
Shyam Metalics & Energy — Investor Presentation (June 2025)
54 slides from Shyam Metalics & Energy's investor presentation, Jun 9, 2025
Slide 1: Ore to Metal – Investors Presentation cover letter
ORE TO METAL SMEL/SE/2025-26/27 . June 09, 2025 The Secretary, Listing Department The Manager - Listing Department BSE Limited | National Stock Exchange of India Phiroze Jeejeebhoy Towers Limited “Exchange Plaza”, 5th Floor, Plot Dalal Street No. C/1, G Block, Bandra-Kurla Complex, Mumbai 400 001 Ba
Slide 2: Investor Presentation | May 2025
Investor Presentation | May 2025
Slide 3: Safe harbor
Safe harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Shyam Metalics And Energy Limited (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for
Slide 4: Company Overview
SIVYAM METALICS ORE TO METAL
Slide 5: Our track record
Our track record • SMEL has gone from being outside of India’s 35th largest steel producer to 6th largest steel producer within two decades. • SMEL has always been profit-making – we have never had a loss-making year despite operating in a cyclical industry. • Operating in a commoditized industry, b
Slide 6: Our expected growth trajectory
Our expected growth trajectory Revenue EBITDA ~2x ~2.5x 1,771 218 FY25 FY30E FY25 FY30E Taking into consideration the least performance in five-year cycles over the past 20 years, our Revenues have grown at CAGR of 16% and EBITDA at CAGR of 19% respectively. We can grow Revenue, EBITDA at ~2x, ~2.5x
Slide 7: Tenets followed at Shyam Metalics
Tenets followed at Shyam Metalics We adopt best in-class technologies & infrastructure, We consider ourselves custodians of the trust and capital driving efficiency and maintaining cost leadership in our entrusted to us by our investors operations 11 01 We are committed to sustainability and We fund
Slide 8: Our secret sauce driving integration of multi-product metals portfolio
Our secret sauce driving integration of multi-product metals portfolio Prospective License for Iron Ore Mine: Multiple Sale Points across Maharashtra Backward the Value Chain Integration Railway siding Greater Control on Operating Margins 377 MW CPP Flexibility to alter Product Renewables – Captive
Slide 9: Steel industry: China v India – a comparative outlook
Steel industry: China v India – a comparative outlook CHINA INDIA #1 global steel producer with ~1,000 MT output in 2023 (54% of global Global Position #2 global steel producer with ~140 MT output in 2023 (7% of global share) share). Low per capita consumption (~80 kg/year) and low export intensity
Slide 10: Why Chinese steel oversupply won't derail India's growth?
Why Chinese steel oversupply won’t derail India’s growth ? India Will Turn Inward: Focus on Domestic Demand Government will Protect Key Sectors • India’s core advantage is that it's still in a growth phase: demand from infrastructure, housing, • Tariffs/Anti-dumping duties if China floods the market
Slide 11: Shyam Metalics at a glance
Shyam Metalics at a glance 6th Largest Integrated Steel 4th Largest Sponge Iron Player, Producer & amongst the largest Leading player in terms of Pellet Ferro Alloys producer in India Capacity Achieving End-To-End Solutions Integrated Metal Producing Company Operates “Ore to Metal” integrated steel
Slide 12: Eminent promoters & board of directors
Eminent promoters & board of directors Brij Bhushan Agarwal Sheetij Agarwal Mahabir Prasad Agarwal Sanjay Kumar Agarwal Deepak Agarwal Dev Kumar Tiwari Chairman & Managing Whole-time Director & Chairman Emeritus1 Joint Managing Director Director (Finance) & CFO Whole-time Director Director (CMD)2 He
Slide 13: Eminent board of directors
Eminent board of directors Chandra Shekar Verma Nand Gopal Khaitan Shashi Kumar Kishan Gopal Baldwa Rajini Mishra Independent Director Independent Director Independent Director Independent Director Independent Director o He is a Fellow Member of o He is registered as an o Associated with the o Assoc
Slide 14: Key updates for Q4 FY25
Key updates for Q4 FY25 Capex & Operational Update Financial Performance Updates • Capex incurred till FY25: $ 770.3 million • Q4 FY25: Revenue: $ 484.3 mn, Operating • Launched diverse range of roofing sheets under which accounts for 66% of the total CAPEX EBITDA: $ 60.3 mn, EBITDA: $ 66.6 mn, SEL
Slide 15: Our new registered and corporate office at Taratala, Kolkata
Our new registered and corporate office at Taratala, Kolkata • We are consolidating our offices into a single location at our Taratala corporate office, built on 3-acres of land surrounded by greenery and designed to maximize natural light, aligning with sustainability and energy efficiency norms •
Slide 16: Business update: greenfield expansion - cold rolling mill
Business update: greenfield expansion - cold rolling mill Greenfield project for a cold rolling mill spread over 55 acres of land at Jamuria, West Bengal Project approved under the PLI Products will include GI/GL coils and scheme PPGL (Pre-Painted Galvalume Coils) Merger completed with Shyam Sel And
Slide 17: Diversifying product portfolio with stainless steel through Mittal Corp
Diversifying product portfolio with stainless steel through Mittal Corp Mittal Corp Industries Overview Leading Player in Stainless Paid acquisition cost of 2 Manufacturing units at Manufacturing plant is 0.15 MTPA Installed 20 Tonne Induction Furnace Steel Flats (200 series and $ 41 mn Pithampur, M
Slide 18: Aluminium foil plant
Aluminium foil plant Aluminium Plant – Pakuria - West Bengal, Giridih – Jharkhand & upcoming plant in Odisha One of the largest aluminium foil manufacturer in India, plant spread over 5 acres Plant installed by Achenbach (Germany), an industry pioneer Kickstarted and stabilised plant operations in r
Slide 19: Enhancing capacities in carbon steel through Ramsarup Industries
Enhancing capacities in carbon steel through Ramsarup Industries Engaged in manufacturing wires, TMT Bars and steel, acquired for $ 44.46 mn out of which we paid $ 26.67 mn for 60% stake Shyam Super Metalics & 60% Ramsarup 40% Smelters Ltd Energy Ltd Industries First Capex Infusion in Ramsarup Indus
Slide 20: Value propositions
Value propositions Backward Diversified Strong Brand Private Railway Captive Power Capacity Addition De-Leveraged Sustainable solution Consistent Integration & Product Mix: & Distribution Sidings Advantage for ~83% power to increase share Balance Sheet - Waste used as Performance Forward Scaling up
Slide 21: Expansion with strong focus on value added products
Expansion with strong focus on value added products Integration has enabled greater control on the operating margins Post Capacity (MTPA) FY21 FY22 FY23 FY24 FY25 Post Expansion Capacity (MTPA) FY25 Expansion Iron Pellet 2.40 3.60 4.80 6.00 6.00 6.00 Beneficiation - 3.0 Sponge Iron 1.39 2.11 2.54 2.
Slide 22: Current Projects Overview
SIVYAM METALICS ORE TO METAL
Slide 23: Projects pending installation and status of cost incurred of carbon steel
Projects pending installation and status of cost incurred of carbon steel Capacities to be Budgeted Capex Capex incurred till Pending Capex Particulars Commissioned ($ Mn) 31st March 2025 ($ Mn) ($ Mn) (Million MTPA) Benefication Plant 3.0 35 11 24 Sponge Iron 1.05 47 29 18 Blast Furnace 0.45 44 36
Slide 24: Projects pending installation and status of cost incurred for others
Projects pending installation and status of cost incurred for others Capacities to be Budgeted Capex Capex incurred till Pending Capex Particulars Commissioned ($ Mn) 31st March 2025 ($ Mn) ($ Mn) (Million MTPA) Stainless Steel: Billet Stainless Steel 0.13 15 9 7 Billet Slabs for Flat products 0.5 2
Slide 25: Synopsis of CAPEX & growth - carbon steel
Synopsis of CAPEX & growth - carbon steel Capacity Present Sales Expected Sales Existing Capacity Particulars Products Post- Expansion Increase by in Volume in Volume Growth (in MMTPA) (in MMTPA) (MMTPA) FY25 (MMTPA) FY27E Carbon Steel: Intermediate Pellet 6.00 6.00 0.84 1.20 Products a. Sponge Iron
Slide 26: Synopsis of CAPEX & growth - stainless steel & aluminium
Synopsis of CAPEX & growth - stainless steel & aluminium Capacity Present Sales Expected Sales Existing Capacity Particulars Products Post- Expansion Increase by in Volume in Volume Growth (in MMTPA) (in MMTPA) (MMTPA) FY25 (MMTPA) FY27E Stainless Steel: Intermediate Stainless Steel Billets 0.12 0.7
Slide 27: Current capacities across carbon steel life cycle
Current capacities across carbon steel life cycle Finished Steel 2.32 MTPA DRI 3.05 MTPA Wire Rod & Wire Color Coated (Direct Reduced Iron) TMT Draw Mill (WRM) Sheets 0.92 MTPA Iron Making 0.92 MTPA 0.25 MTPA SMS 2.01 MTPA Pig Iron 0.77 MTPA Liquid Steel Structurals Pipe Mill (Steel Melting Shop) 0.
Slide 28: Moving towards a diversified product mix
Moving towards a diversified product mix Revenue Mix Sales Volumes (in lakh tonnes) 84% 83% 85% 79% 74% 47% 48% 48% 23.4 22.7 45% 45% 21.2 20.2 20.6 37% 38% 37% 31% 15.1 29% 13.3 11.2 16% 17% 7.6 15% 13% 13% 6.1 7% 4% 4% 5% 1.7 1.6 1.8 1.8 2.0 0.8 0.5 0.2 0.2 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23
Slide 29: Export opportunities
Export opportunities Steel products both upstream and downstream including 25 10% 33% Angles, Beams, Billets, Channels, Wire Rods, MS Round Coils and Sponge Iron Countries Exports to countries like USA, Export Contribution to Revenue 42% 25% Japan, Italy, Nepal, Bangladesh in FY25 Ferro Chrome Ferro
Slide 30: Q4 & FY25 Financial Performance
Q4 & FY25 Financial Performance
Slide 31: Performance highlights Q4 FY25 and FY25
Performance highlights Q4 FY25 $ 484.3 Mn $ 60.3 Mn $ 66.6 Mn $ 25.8 Mn Revenue Operating EBITDA EBITDA PAT YoY 14.8% YoY 16.6% YoY 15.6% YoY 0.1% FY25 $ 1,771.1 Mn $ 218.3 Mn $ 245.3 Mn $ 106.4 Mn Revenue Operating EBITDA EBITDA PAT YoY 14.7% YoY 18.8% YoY 21.2% YoY -11.6% 30 Note: We have reported
Slide 32: Consolidated profit & loss statement
Consolidated profit & loss statement Particulars ($ Mn) Q4 FY25 Q4 FY24 Y-o-Y Q3 FY25 Q-o-Q FY25 FY24 Y-o-Y Revenue from Operations 484.3 421.9 14.8% 439.0 10.3% 1,771.1 1,543.8 14.7% Cost of Material Consumed 339.5 292.0 356.2 1,326.4 1,122.5 Purchases of stock in trade 0.1 3.2 0.0 0.7 3.7 Change i
Slide 33: Consolidated balance sheet statement
Consolidated balance sheet statement Particulars ($ Mn) Mar-25 Mar-24 Particulars ($ Mn) Mar-25 Mar-24 Assets Equity and Liabilities Non-Current Assets Equity share capital 32.5 32.5 Property, plant and equipment 725.0 447.7 Other equity 1,202.2 1,096.1 Total Equity 1,234.7 1,128.7 Right-of-use asse
Slide 34: Q4 FY25 performance highlights
Q4 FY25 performance highlights $ 484.3 million $ 60.3 million $ 66.6 million $ 25.8 million Revenue from Operations Operating EBITDA EBITDA Profit After Tax Revenue Breakup Volumes (in lakh tonnes) Volumes (in lakh tonnes) Y-o-Y +39% +15% Q-o-Q Steel Products 7.5% 11.6% 0.30 1.3% 0.26 Y-o-Y Q-o-Q 4.
Slide 35: FY25 performance highlights
FY25 performance highlights $ 1,771.1 million $ 218.3 million $ 245.3 million $ 106.4 million Revenue from Operations Operating EBITDA EBITDA Profit After Tax Revenue Breakup Volumes (in lakh tonnes) Volumes (in lakh tonnes) +57% Y-o-Y Steel Products 7.4% 12.7% 1.05 1.3% Y-o-Y 0.21 Aluminium Foil 2.
Slide 36: Per tonne realizations
Per tonne realizations Speciality Alloys Carbon Steel* Stainless Steel Y-o-Y Q-o-Q Y-o-Y Q-o-Q Y-o-Y Q-o-Q -4.4% -4.1% +0.5% -0.4% +1% -5% +1% 0% +17% 1,118 1,114 1,069 1,117 1,122 517 511 515 546 521 1,475 1,494 1,494 1,540 1,320 Q4 FY24 Q3 FY25 Q4 FY25 FY24 FY25 Q4 FY24 Q3 FY25 Q4 FY25 FY24 FY25 Q
Slide 37: Strong debt profile
Strong debt profile Gross Debt* ($ Mn) Net Debt^ ($ Mn) 123 112 111 92 90 29 62 68 -56 -66 -124 -177 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Gross Debt / Equity Net Debt / EBITDA 0.37 1.51 0.21 0.18 0.30 0.13 0.09 0.07 0.06 -0.18 -0.57 Mar-20 Mar-21 Mar-22
Slide 38: Strong balance sheet - flexibility of growth
Strong balance sheet - flexibility of growth Conservatively Leveraged + Internal Operating Efficiency led to minimal Disciplined Capital Allocation strategy Working capital requirements = Better Return Metrics Working Capital (days) Return ratios (%) 57% 12 22 34% ROCE* 100 97 20% 91 13% 15% 15% 83
Slide 39: Disciplined capital allocation
Disciplined capital allocation CashFlow from Operations ($ Mn) CAPEX ($ Mn) 230 249 198 210 178 181 185 149 124 29 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 Cash & Cash Equivalents ($ Mn) CAPEX as % of Cashflow from Operations 108% 245 102% 214 88% 180 76% 148 57 24% FY21 FY22 FY23 FY24 FY25
Slide 40: Consistent EBITDA track record
Consistent EBITDA track record EBITDA* ($ Mn) Other income as % of EBITDA 67 63 58 59 56 53 51 52 40 31 30 16% 14% 11% 10% 10% 9% 9% 10% 8% 8% 5% Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY23 FY23 FY23 FY24 FY24 FY24 FY24 FY25 FY25 FY25 FY25 FY23 FY23 FY23 FY24 FY24 FY24 FY2
Slide 41: Enhancing shareholder's value
Enhancing shareholder’s value Dividend Payout (%) 14% 12% 11% 11% 5% FY21 FY22 FY23 FY24 FY25 Particulars (in $ Mn) FY21 FY22 FY23 FY24 FY25 Net Profit 99 202 99 120 106 Dividend 5 22 13 14 15 The Company has paid post IPO dividend amounting to $ 69 Mn being 10.9% of the aggregate PAT of $ 626 Mn 40
Slide 42: Long term rating at CRISIL AA/ outlook: positive
Long term rating at CRISIL AA/ outlook: positive Current Rating CRISIL AA Outlook Positive Latest Review Nov-24 CRISIL AA CRISIL AA CRISIL AA CRISIL AA (Stable) (Stable) (Stable) (Positive) CRISIL AA- CRISIL AA- (Stable) (Positive) FY20 FY21 FY22 FY23 FY24 Nov-24 41
Slide 43: Annexure
SIVYAM METALICS ORE TO METAL
Slide 44: Strategically located - supported by infrastructure (carbon steel)
Strategically located - supported by infrastructure (carbon steel) Raw Material Sources are within 250 kms Jamuria Plant Sambalpur Plant Close Proximity Strong Logistics Lower Logistics Dhamra to Raw Material + Infrastructure = Cost Paradeep Vishakhapatnam Proximity to ports enables Company to expor
Slide 45: Brownfield expansion with… (carbon steel)
Brownfield expansion with… (carbon steel) Railway Siding Captive Power Plants Captive Water Reservoir Jamuria Plant Sambalpur Plant • We have 1 manufacturing plant located in Sambalpur, Odisha and 1 manufacturing plant in Jamuria, West Bengal with aggregate installed capacity of 15.13 MTPA comprisin
Slide 46: Integrated operations across the steel value chain
Integrated operations across the steel value chain Raw Materials Processing End-Products Electricity Coal Coal Washery Washery Rejects (Captive) Char/Flu Gases TMT Bars Rotary Kilns Power Plant Rolling Mills Wire Rod Washing & Pellets Sponge Steel melting Shop Billets Iron Ore Fines Pelettization Pl
Slide 47: Detailed plant wise capacities - existing: carbon steel
Detailed plant wise capacities - existing: carbon steel Product –Wise Sambalpur Jamuria Mangalpur Kharagpur TOTAL Capacity (MTPA) Odisha West Bengal West Bengal West Bengal (MTPA) Iron Pellets 3 3 6 Speciality Alloys 0.11 0.07 0.04 0.22 DRI 1.32 1.52 0.06 0.15 3.05 (Direct Reduced Iron) Billets 0.87
Slide 48: Detailed plant wise capacities - post expansion: carbon steel
Detailed plant wise capacities - post expansion: carbon steel Product –Wise Capacity Sambalpur Jamuria Mangalpur Kharagpur TOTAL (MTPA) Odisha West Bengal West Bengal West Bengal (MTPA) Iron Pellets 3 3 6 Speciality Alloys 0.11 0.07 0.06 0.24 DRI (Direct Reduced Iron) 1.95 1.95 0.06 0.15 4.1 Pig Iro
Slide 49: Detailed plant wise capacities - existing & post expansion: stainless steel
Detailed plant wise capacities - existing & post expansion: stainless steel Product –Wise Sambalpur Pitampura TOTAL Capacity (MTPA) Odisha Madhya Pradesh (MTPA) Stainless CR 0.2 0.2 Stainless HR 0.5 0.5 Stainless 0.15 0.07 0.22 Billets 0.13 0.12 0.25 Slabs 0.5 0.5 0.5 SS Bright Bars 0.018 0.018 SS W
Slide 50: Our strategy going forward
Our strategy going forward Shift Towards Value Added Build market leading position Geographical Expansions in Continuously work on improving Reducing Carbon Footprint and Products portfolio by identifying in all 4 areas of the metal newer states with focus on cost efficiency through focus on sustain
Slide 51: Energy cost through captive power: ~83%
Energy cost through captive power: ~ 83% o Power consumed by the plants are primarily produced in-house by the Sambhalpur Jamuria Mangalpur Kharagpur captive power plants o Captive power plants utilise non fossil fuels such as waste, rejects, heat and 6 Turbines 4 Turbines 1 Turbine 1 Turbine gas ge
Slide 52: Strengthening brand 'SEL Tiger'
Strengthening brand ‘SEL Tiger’ TMT TMT are used for the construction of buildings, transmission towers, industrial sheds, structures, road, dam and in other various infrastructures SMEL sells the best quality TMT primarily in the states of West Bengal, Odisha, Bihar, Jharkhand, Tripura, Sikkim, Ass
Slide 53: CSR initiatives
CSR initiatives SUSTAINABILITY RURAL HEALTH • Water Conservation- Check dam, • Yearly Eye & Medical Camp for Villagers, FREE Pond , landscaping, Plantation, Medicine & Spectacles • Promotion of solar Light • Free Ambulance & Drinking water Services for villagers • Solar irrigation Pumps • New Health
Slide 54: Thank you
Shyam Metalics & Energy Limited Mr. Pankaj Harlalka pankaj.harlalka@shyammetalics.com Investor Relations – MUFG Intime India Pvt Ltd Shyam Metalics & Energy Ltd. CIN No. : L40101WB2002PLC095491 Mr. Sumeet Khaitan sumeet.khaitan@in.mpms.mufg.com Trinity Tower, 7th Floor, 83, Topsia Road Kolkata – 700
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