India’s Shyam Metalics and Energy Limited (SMEL) has posted a consolidated net profit of INR 3.19 billion ($33.76 million) in the fourth quarter (January-March) of the fiscal year 2025-26, a rise of 45.8 percent year on year, according to a company regulatory filing on Monday, May 11.
The company achieved total revenue of INR 52.40 billion ($554.71 million) in the given quarter, a rise of 26.3 percent year on year.
SMEL has also approved a capital expenditure of around $286 million for the expansion of its specialty steel and stainless steel capacities.
It has also approved the construction of a specialty wire rod and bar mill with a furnace capacity of 800,000 mt per year at its steel mill in Kharagpur in West Bengal state, with an investment of $95 million, to be completed by 2029.
At its Sambhalpur mill in Odisha, SMEL has approved plans to increase stainless steel production capacity from 0.5 million mt per year to 0.6 million mt per year, along with downstream facilities including cold rolling, hot rolling, annealing and pickling lines.
SMEL’s product mix also includes iron ore pellets, rebar, structural steel, ferro alloys and aluminum foils.
