Shyam Metalics and Energy (SHYAMMETL) Q4 25/26 earnings summary

Executive summary

• Achieved strong project execution and strategic expansion in FY 2026, including CRM complex completion at Jamuria, blast furnace commissioning at Kharagpur, and greenfield expansions in steel and aluminium.

• Sales volume grew 26% year-over-year to 4.94 million tons; revenue up 22% to ₹18,552.21 crore; PAT reached ₹1,060.5 crore.

• Maintained a balanced sales mix and focused on higher value-added products, driving revenue and profitability growth.

• Board approved new CapEx investment of ₹2,700 crore for value-added and specialty steel expansion.

• Audited standalone and consolidated financial results for FY 2026 were approved with an unmodified auditor opinion.

Financial highlights

• FY 2026 consolidated revenue: ₹18,552.21 crore (up 22% YoY); Q4 revenue: ₹5,240.4 crore (up 27% YoY).

• FY 2026 EBITDA: ₹2,536.7 crore (up 21% YoY); Q4 EBITDA: ₹756.1 crore (up 33% YoY); EBITDA margin expanded to 14.4%.

• FY 2026 PAT: ₹1,060.5 crore (up 17% YoY); Q4 PAT: ₹311.9 crore (up 41.7% YoY); PAT margin at 6%.

• Basic EPS for FY 2026: ₹38.10, up from ₹32.70 last year.

• Net cash generated from operations: ₹2,023.56 crore; net debt position at -₹1,514 crore as of Mar-26.

Outlook and guidance

• Targeting ~3x revenue and EBITDA growth over the next five years, aiming for 15-17% CAGR in revenue and 18-20% CAGR in EBITDA.

• Expecting 30% growth in FY 2027, with full-year impact from new aluminum and CRM facilities.

• CRM EBITDA projected at ₹10,000–11,000 per ton; aluminum EBITDA at ₹35,000–40,000 per ton.

• Ongoing and planned capex of ₹16,085 crore, with ₹2,700 crore fresh capex approved for value-added growth.

• Conservative guidance, but management expects to match or exceed FY 2026 performance.