Shyam Metalics & Energy Ltd. · NSE:SHYAMMETL
Shyam Metalics & Energy — Q1 FY27 Earnings Presentation
63 slides from Shyam Metalics & Energy's earnings presentation, Jul 20, 2026
Slide 1: Exchange filing cover letter
SMEL/SE/2026-27/49 July 20, 2026 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 Bandra (East), Mumb
Slide 2: Investor Presentation | Q1 FY27
Shyam Metalics & Energy Limited Investor Presentation | Q1 FY27 Self-Funded Growth, Value-Led Future 6th Net Cash AA+ 16.93 MTPA Largest Steel Producer Positive at Peak Capex CRISIL, Stable Combined Production Capacity
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: Table of Contents
Table of Contents 1 Company Overview 2 Products and Capabilities 3 Capacity Expansion 4 Financial Performance 5 Strategy & Guidance 6 ESG 7 Annexures Page 3
Slide 5: Company Overview
O71 Company Overview!
Slide 6: Shyam Metalics at a Glance
Shyam Metalics at a Glance One of India's fastest-growing integrated metal producers 2nd 6th Largest 467 MW 16.93 MTPA Largest Coal based Largest Steel Producer Aluminium Foil Total power generation Combined Sponge Iron Player Scaling Rapidly to Emerge as the Manufacturer Production Capacity ~79% of
Slide 7: Why Invest in Shyam Metalics?
Why Invest in Shyam Metalics? 01 6th largest steel producer 02 Self-funded growth On course to become a leading steel Net cash positive, supporting expansion producer. through the cycle. Self funded growth, cash discipline, strong 03 20+ years of execution track record 04 2.3x Revenue & 2.7x EBITDA
Slide 8: The Transformation Playbook
The Transformation Playbook From commodity to value-added leader – shift in mix yielding better margins Pre-2005 2010–15 2016-21 2022-24 2025-26 2027-31 ~2.7x Return since IPO Foundation Scale-Up IPO & Expansion Diversification with Value Leader Vision 2031 o Incorporation of Shyam o Sambalpur & Jam
Slide 9: Our Track Record
Our Track Record ✓ In just 2 decades, SMEL has gone from being outside India’s Top 35 steel producers to becoming the 6 th largest steel producer in the country. ✓ SMEL has always been profit-making – we have never had a loss-making year despite operating in a cyclical industry. ✓ Operating in a com
Slide 10: Growth Roadmap – FY31
Growth Roadmap – FY31 Revenue (₹ Cr) ~2.3x / 2.7x ~20% / 22% Growth in Revenue / EBITDA RoE / RoCE 18,552 42,647 6,297 ~₹9,500 Cr Capex to be deployed over Net Cash +ve FY21 FY26 FY31E next 4-5 year, funded by Negative Net Debt despite internal accruals – no external substantial growth capex debt De
Slide 11: Strategic Commitments vs Delivered Outcomes
Strategic Commitments vs Delivered Outcomes We Say and We Do!! CAPACITY EXPANSION VALUE ADDITION CAPACITY EXPANSION FY21A FY26A FY21A FY26A FY21A COMMITTED DELIVERED FY26A (FY25) (FY25) Metal Ferro Alloy Balance Zero net Capacity 5.71 11.60 13.51 16.78 ✓ 20% 52% ✓ Net D/E:0.07x (MTPA) Exports Mix Sh
Slide 12: Tenets Followed at Shyam Metalics
Tenets Followed at Shyam Metalics Capital allocation: 70:20:10 Debt-to-Equity capped at 0.5x Growth, Liquidity, Dividend 11 01 Sustainability and continuity CAPEX funded by accruals; build resilience 02 Debt only for working capital 10 Metallurgy expertise Capex phased to cash flows 09 anchors decis
Slide 13: Eminent Promoters & Professional Board of Directors
Eminent Promoters & Professional Board of Directors Mahabir Prasad Brij Bhushan Agarwal Sanjay Kumar Deepak Agarwal Sheetij Agarwal Dev Kumar Tiwari Agarwal Chairman & Managing Agarwal Director (Finance) & Whole-time Director & Whole-time Director Chairman Emeritus Director (CMD) Joint Managing Dire
Slide 14: Eminent Independent Board of Directors from Diversified Field
Eminent Independent Board of Directors from Diversified Field Chandra Shekar Verma Nand Gopal Khaitan Shashi Kumar Kishan Gopal Baldwa Rajini Mishra Subrata Bhattacharya Ex-Chairman & MD, SAIL Partner at Khaitan & Co Ex-Chairman, Coal India Ltd Fellow member of ICAI Associate member of ICSI Distingu
Slide 15: Product Portfolio
Product Portfolio Our portfolio spans entire metal value chain ensuring quality control and cost competitiveness Core Metal Products Carbon steel Structural Railway Crash TMT Bars Wire Rods SBQ Wires* Steel Wagons* Barrier Flat Raw materials Steel HR Coils* CR Coils Galvalume Roofing Pipe Sheets Iro
Slide 16: Strategically Located – Raw Material & Supply Chain Advantage
Strategically Located – Raw Material & Supply Chain Advantage 7state of the art manufacturing plants spread across 4 states - West Bengal, Odisha, Madhya Pradesh and Jharkhand Jamuria Pakuria Kharagpur Mangalpur Indore Giridih Sambalpur Out of the 1,827 acres land across the 4 states, 1,338 acres oc
Slide 17: Global Presence Across 30+ Countries and Expanding Rapidly
Global Presence Across 30+ Countries and Expanding Rapidly 21% 13% Export Contribution to Aluminum Foil Products Revenue in FY26 Germany 17% Austria Belgium Lithuania United Kingdom Czech Republic Ferro Chrome Ferro Macedonia South Korea USA Switzerland Turkey BhutanChina Japan Manganese and Silico
Slide 18: Moving Towards a Diversified Mix Focused on Value Added Products
Moving Towards a Diversified Mix Focused on Value Added Products Revenue Mix Sales Volumes (in lakh tonnes) 85% 79% 74% 77% 77% 28.9 48% 48% 45% 45% 40% 37% 20.2 20.6 21.2 37% 31% 29% 32% 17.2 15.1 13.3 15% 13% 11% 11.2 9.1 13% 10% 8% 5% 4.0 4% 5% 7% 4% 1.8 1.8 1.8 0.8 2.0 0.9 0.5 0.2 0.1 0.2 0.2 FY
Slide 19: Products & Capabilities
O2 Products & Capabilitie a.
Slide 20: Stainless Steel: A High Growth Vertical
Stainless Steel: A High Growth Vertical Stainless Steel Vertical Overview – On Track to become 2nd Largest Player Leading Player in Forayed into 2 Manufacturing Rolling Mill is 0.15 MTPA Installed Wide product range Stainless Steel Stainless steel units at Pithampur, developed by Italian Capacity fo
Slide 21: Business Update: Greenfield Expansion - Cold Rolling Mill
Business Update: Greenfield Expansion - Cold Rolling Mill ₹ 603 Cr Total Capex 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) CRM Mill opera
Slide 22: Aluminium Division
Aluminium Division Aluminium Foil facility commissioned in Jul’26 Aluminium Plant – Pakuria - West Bengal (Avg Capacity - 0.024 FRP facility likely to be commissioned soon MMTPA), Giridih – Jharkhand & upcoming plant in Odisha One of the largest aluminium foil manufacturer in India, plant spread ove
Slide 23: Enhancing Capacities in Carbon Steel through Ramsarup Industries
Enhancing Capacities in Carbon Steel through Ramsarup Industries Ramsarup Industries First Capex Infusion in Ramsarup Industries – Phase I Capacity Expansion in Ramsarup Industries – Phase II Capex : Rs 747 cr Capex : Rs 625 cr Captive Blast DRI Power Plant Furnace Steel Wire Blast Captive Railway 1
Slide 24: Foray into Wagon Manufacturing
Foray into Wagon Manufacturing Developed under step -down Strategic entry into rolling The plant to incorporate Wagons types to be Project supports GoI’s subsidiary, stock segment – wagon world class “Uni-Flow” manufactured - Flat, “Make in India” initiative Ramsarup Industries Ltd., manufacturing w
Slide 25: Capacity Expansion
03 Capacity Expansion
Slide 26: 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 Post Capacity (MTPA) FY21 FY22 FY23 FY24 FY25 FY26 Q1FY27 Capacity (MTPA) FY25 FY26 Q1 FY27 Expansion Expansion Iron Pellet 2.40 3.60 4.80 6.00 6.00 6.00 6.00 6.00 Beneficiation
Slide 27: Projects Pending Installation & Status of Cost Incurred in Carbon Steel
Projects Pending Installation & Status of Cost Incurred in Carbon Steel Capacities to be Budgeted Capex Capex incurred till Pending Capex Particulars Commissioned (Rs Cr) 30th June (Rs Cr) (Rs Cr) (Million MTPA) Intermediates: Beneficiation Plant 3.00 300 222 78 Sponge Iron 1.05 400 320 80 Blast Fu
Slide 28: Projects Pending Installation & Status of Cost Incurred in Carbon Steel
Projects Pending Installation & Status of Cost Incurred in Carbon Steel Capacities to be Budgeted Capex Capex incurred till Pending Capex Particulars Commissioned (Rs Cr) 30th June (Rs Cr) (Rs Cr) (Million MTPA) Others: Solar Plant (MW) 100 450 25 425 Captive Power (MW) 210 930 545 385 Railway Sidin
Slide 29: Projects Pending Installation & Status of Cost Incurred for Others
Projects Pending Installation & Status of Cost Incurred for Others Capacities to be Budgeted Capex Capex incurred till Pending Capex Particulars Commissioned (Rs Cr) 30th June (Rs Cr) (Rs Cr) (Million MTPA) Stainless Steel Long: Billet Stainless Steel 0.13 130 129 1 Stainless Steel Bright Bars 0.03
Slide 30: Projects Pending Installation & Status of Cost Incurred for Others
Projects Pending Installation & Status of Cost Incurred for Others Capacities to be Budgeted Capex Capex incurred till Pending Capex Particulars Commissioned (Rs Cr) 30th June (Rs Cr) (Rs Cr) (Million MTPA) Aluminium: Aluminium Mill with Caster 0.10 75 54 21 Battery foil plant 0.01 25 23 2 Aluminiu
Slide 31: Plant Wise Capacities - Existing: Carbon Steel
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 (Direct Reduced Iron) 1.35 1.49 0.06 0.15 3.05 Billets 0.87 1.14 2.0
Slide 32: Plant Wise Capacities - Post Expansion: Carbon Steel
Plant Wise Capacities - Post Expansion: 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 0.06 0.24 DRI (Direct Reduced Iron) 1.95 1.95 0.06 0.15 4.1 Pig Iron / Blast
Slide 33: Plant Wise Capacities - Existing & Post Expansion: Stainless Steel
Plant Wise Capacities - Existing & Post Expansion: Stainless Steel Product –Wise Sambalpur Pitampura TOTAL Capacity (MTPA) Odisha Madhya Pradesh (MTPA) Billets 0.13 0.12 0.25 SS Melt Shop 0.6 0.6 Stainless HR 0.6 0.6 Stainless CR 0.4 0.4 Stainless 0.15 0.15 SS Bright Bars 0.025 0.025 SS Wire Rods 0.
Slide 34: Synopsis of CAPEX & Growth - Carbon Steel
Synopsis of CAPEX & Growth - Carbon Steel Capacity Present Sales Expected Sales Existing Capacity Post- Expansion Increase by in Volume Growth Particulars Products in Volume (in MMTPA) (in MMTPA) (MMTPA) FY26 (MMTPA) FY31E Carbon Steel: Intermediate Pellet 6.00 6.00 1.18 1.13 -4% Products a. Sponge
Slide 35: Synopsis of CAPEX & Growth - Stainless Steel & Aluminium
Synopsis of CAPEX & Growth - Stainless Steel & Aluminium Capacity Present Sales Expected Sales Existing Capacity Post- Expansion Increase by in Volume Growth Particulars Products in Volume (in MMTPA) (in MMTPA) (MMTPA) FY26 (MMTPA) FY31E Stainless Steel: Intermediate Stainless Steel 0.12 0.85 608% -
Slide 36: Energy Cost through Captive Power: ~79%
Energy Cost through Captive Power: ~ 79% o Power consumed by the plants are primarily produced in-house by the captive power plants and comprises of green power Sambhalpur Jamuria Mangalpur Kharagpur o Captive power plants majorly utilise waste, rejects, heat and gas generated from the operations to
Slide 37: Financial Performance
04 Financial Performance
Slide 38: Q1 FY27 Highlights
Q1 FY27 Highlights Revenue (Rs. Cr) EBITDA (Rs. Cr) PAT (Rs. Cr) Y-o-Y Q-o-Q Y-o-Y Q-o-Q Y-o-Y Q-o-Q +23% +4% +28% +7% +21% +13% xx xx xx 0.26 0.33 0.26 0.33 0.26 0.33 5,240 5,455 812 351 4,423 756 291 312 633 Q1 FY26 Q4 FY26 Q1 FY27 Q1 FY26 Q4 FY26 Q1 FY27 Q1 FY26 Q4 FY26 Q1 FY27 Capex Update • Ong
Slide 39: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. Cr) Q1 FY27 Q1 FY26 Y-o-Y Q4 FY26 Q-o-Q FY26 FY25 Y-o-Y Revenue from Operations 5,455.1 4,423.0 23.3% 5,240.4 4.1% 18,552.2 15,137.5 22.4% Cost of Material Consumed 4,214.5 3,290.3 3,848.6 13,680.2 11,336.7 Purchases of stock in trade 0.0 3.5 33.
Slide 40: Q1 FY27 Performance Highlights
Q1 FY27 Performance Highlights Rs. 5,455 crores Rs. 812 crores Rs. 765 crores Rs. 351 crores Revenue from Operations EBITDA Operating EBITDA Profit After Tax Revenue Breakup Volumes (in lakh tonnes) Volumes (in lakh tonnes) Y-o-Y +16% -13% Q-o-Q Steel Products 0.8% xx 0.26 0.33 0.29 0.25 7.5% 10.1%
Slide 41: Per Tonne Realizations
Per Tonne Realizations Speciality Alloys Carbon Steel1 Y-o-Y Q-o-Q Y-o-Y Y-o-Y Q-o-Q Y-o-Y +22% +7% -2% +2% +1% -3% 87,715 99,517 1,06,613 95,902 93,837 44,856 45,374 45,777 44,500 43,043 Q1FY26 Q4FY26 Q1FY27 FY25 FY26 Q1FY26 Q4FY26 Q1FY27 FY25 FY26 CR Coil/ CR Sheet2 Stainless Steel Y-o-Y Q-o-Q Y-o
Slide 42: Per Tonne Realizations
Per Tonne Realizations Sponge Iron Iron Pellets Y-o-Y Q-o-Q Y-o-Y Y-o-Y Q-o-Q Y-o-Y +5% +1% -7% +5% -5% +5% 24,100 24,897 25,219 25,343 23,695 8,608 9,556 9,057 8,645 9,085 Q1FY26 Q4FY26 Q1FY27 FY25 FY26 Q1FY26 Q4FY26 Q1FY27 FY25 FY26 Pig Iron Aluminium Foil Y-o-Y Q-o-Q Y-o-Y Y-o-Y Q-o-Q Y-o-Y +15%
Slide 43: Strong Debt Profile
Strong Debt Profile Gross Debt (Rs. Cr) Net Debt^ (Rs. Cr) 1,050 960 951 957 785 768 246 534 577 -477 -562 -378 -1,062 -1,514 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 Gross Debt / Equity Net Debt / EBITDA 1.51 0.37 0.18 0.30 0.21 0.13 -0.18 -0
Slide 44: Strong Balance Sheet - Flexibility of Growth
Strong Balance Sheet - Flexibility of Growth Conservatively Leveraged + Disciplined Capital Allocation strategy Internal Operating Efficiency led to minimal = Working capital requirements Better Return Metrics Working Capital (days) Return ratios (%) 57% 22 9 34% ROCE* 20% 15% 15% 16% 13% 123 132 Ma
Slide 45: Disciplined Capital Allocation
Disciplined Capital Allocation Cashflow from Operations (Rs. Cr) CAPEX (Rs. Cr) 1,964 2,023 2,130 2,046 1,689 1,794 1,518 1,543 1,578 1,056 1,277 251 FY21 FY22 FY23 FY24 FY25 FY26 FY21 FY22 FY23 FY24 FY25 FY26 Cash & Cash Equivalents (Rs. Cr) CAPEX as % of Cashflow from Operations 2,092 102% 108% 10
Slide 46: Consistent Volume Growth
Consistent Volume Growth Sales Volumes Sales Volumes – Q1 FY27 (in Lakh tonnes) (in Lakh tonnes) volume growth % Actual volume Q1 FY27 volume Projected volumes +14% 26% 25% 9% 8% 5% 61.62 13.83 12.12 49.46 39.39 33.44 36.40 13.83 FY23 FY24 FY25 FY26 FY27P Q1 FY26 Q1 FY27 Page 45
Slide 47: Strategy & Guidance
05 Strategy & Guidance
Slide 48: Building the Future Roadmap
Building the Future Roadmap Build Greener, 05 Build Cleaner Increase Cost 04 Efficiency Grow 03 o Reducing Carbon Geographies Integrated Footprint 02 o Use of technology in Metals Major More Value- supply chain management o Focus on sustainability 01 o Enter in newer states with Added Products focus
Slide 49: Shyam Metalics: Vision 2031
Shyam Metalics: Vision 2031 Building India's Most Diversified & Value-Accretive Metals Platform REVENUE EBITDA ROCE ROE Debt/Cash Accrual FY26 FY31 Cash Net Gross Accrual Debt Debt FY26 FY31 FY26 FY31 FY26 FY31 FY26 FY31 ₹957 Cr ~₹4,226 Cr ₹18,552 Cr ~₹42,500+ Cr ₹2,333 Cr ~₹6,200+ Cr 16% 22% 13% 20
Slide 50: Financial Roadmap to Vision 2031
Financial Roadmap to Vision 2031 REVENUE EBITDA VOLUME (MT) REVENUE (₹ CR) EBITDA (₹ CR) PRODUCT SHARE (%) SHARE (%) FY26 FY31E FY26 FY31E FY26 FY31E FY26 FY31E FY26 FY31E Stainless Steel 94,102 6,99,733 1,322 11,969 7% 28% 77 1,108 3% 18% Aluminium 21,620 47,100 821 2,331 5% 5% 76 277 3% 4% Carbon
Slide 51: ESG
06 ESG
Slide 52: ESG – Impact Metrics
ESG – Impact Metrics The Shyam Commitment – Efficiency in action | Responsibility in intent | Sustainability engineered at every step POWER WATER SUN WIND 777 MW ZLD 20.43 MWP 35,000+ Tonnes Captive Power (Post Expansion) Zero Liquid Discharge & Extensive Solar Systems CO2 Emissions Avoided Annually
Slide 53: Environment
Environment Nurturing Nature. Ensuring a Sustainable Tomorrow Plantation and Rainwater Harvesting Promotion of Clean Renovation of Water Green Cover Rainwater harvesting systems Energy Bodies Large-scale plantation to conserve water and Driving the transition to clean Rejuvenating and restoring driv
Slide 54: Social
Social Empowering Communities. Enriching Lives. Skill Development • Sewing & Tailoring Training Centres • Handicrafts & Agarbatti Making Training • Mushroom Cultivation Programs • Computer Training Centres Healthcare & Community Well-Being • Medical Vans • Drinking Water Facility • Homeopathic Clini
Slide 55: CSR Initiatives
CSR Initiatives • Improving water bodies SUSTAINABILITY • Annual medical health and eye checkup • Plantation work campaign offering free medicine and • Installation of solar streetlight spectacles to villagers • Solar irrigation Pumps • Medical mobile van in 17-18 villages in • Developing areas arou
Slide 56: Community Building & Welfare of the Immediate Locality
Community Building & Welfare of the Immediate Locality has always been Our Top Priority Safe Drinking Water Education & Skill Blood Donation Camp Healthcare Summer water tankers for Development 100+ employee volunteers at 95,000 free OPD visits annually 38,397 residents 38 volunteers teaching in 21
Slide 57: Strengthening ESG Framework
Strengthening ESG Framework ESG integration strengthening governance, operational resilience and long-term sustainability 60 63.7 50 55 SES ESG Research NSE Sustainability CFC Finlease Private Private Ltd. Ratings and Analytics Limited CRISIL ESG Ratings & Analytics Limited Limited 13-02-2026 17-01-
Slide 58: Annexure
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Slide 59: Strengthening Brand 'SEL Tiger'
Strengthening Brand ‘SEL Tiger’ TMT BARS 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, Sikki
Slide 60: A Rising Force in India's Steel Landscape
A Rising Force in India’s Steel Landscape RECOGNISED Amongst India’s Top Steel Entrepreneurs STRONG FOUNDATION Built on Scale, Integration & Operational Excellence GROWTH MOMENTUM Well positioned to create long-term shareholder value Shyam Metalics recognized among India's Top Steel Players, well-po
Slide 61: Long Term Rating at CRISIL AA+/ Outlook: Stable
Long Term Rating at CRISIL AA+/ Outlook: Stable Current Rating CRISIL AA+ Outlook Stable CRISIL AA+ Latest Review Nov-25 (Stable) CRISIL AA CRISIL AA CRISIL AA CRISIL AA (Stable) (Stable) (Stable) (Positive) CRISIL AA- (Stable) CRISIL AA- (Positive) FY20 FY21 FY22 FY23 FY24 FY25 Nov-25 CRISIL AA+ (S
Slide 62: Enhancing Shareholder Value
Enhancing Shareholder Value Dividend Payout (%) Share Price Since IPO SHYAMMETL NIFTY 50 NIFTY METAL 200% 177% 14% 14% 150% 12% 12% 144% 11% 100% 50% 54% 5% 0% -50% 24-Jun-21 24-Feb-22 24-Oct-22 24-Jun-23 24-Feb-24 24-Oct-24 24-Jun-25 24-Feb-26 17-Jul-26 FY21 FY22 FY23 FY24 FY25 FY26 Particulars FY2
Slide 63: Let's Talk
LET'S TALK Self-funded growth story | Strong execution track record | Net cash positive | 177% return since IPO Shyam Metalics & Energy Limited Investor Relations: Ernst & Young LLP Mr. Pankaj Harlalka Mr. Diwakar Pingle pankaj.harlalka@shyammetalics.com diwakar.pingle@in.ey.com investor.relations@s
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