Shyam Metalics Shares Fall 2.8% After Mixed September Sales; Sponge Iron Volumes Down 29% YoY

Kolkata, October 7, 2025: Shares of Shyam Metalics and Energy Ltd (BSE: 543299, NSE: SHYAMMETL) dipped by 2.80% to ₹932 during Tuesday’s close, as the firm reported mixed fortunes across major segments in its sale report for September 2025 and Q2 FY26.

Shyam Metalics and Energy Ltd, based in Kolkata, is a leading Indian integrated metal player with interests in carbon steel, stainless steel, special alloy, and aluminium foil, backed by captive power capacity. The company is a major player among India’s ferro alloy producers, being the fourth-largest player in the sponge iron space. It also holds CRISIL AA (Positive) and A1+ credit ratings, and it has exhibited steady profitability since FY2005.

Segment-wise Performance (September 2025)

Shyam Metalics and Energy Limited reported mixed production of its products for September 2025, indicating that supply-demand factors and pricing trends are dominant across the steel and metal sector.

• CR Coil/Sheets: Production stood at 11,706 MT, declining 12.2% month-on-month (MoM). However, the average realisation increased slightly by 1.11% MoM to ₹73,826 per MT.
• HR Tube/Pipe: Production also decreased by 9.64% MoM to 300 MT, while average realisation improved marginally by 0.92% MoM to ₹46,422.
• Aluminium Foil: The company produced 2,056 MT, showing strong growth of 36.79% MoM and 4.10% YoY, with average realisation at ₹3,93,576 per MT, up 11.81% YoY.
• Specialty Alloys: Production rose by 17.53% MoM to 17,452 MT, also recording a YoY growth of 14.39%, though realisation averaged lower by 1.34% YoY to ₹1,01,399.
• Stainless Steel: Production dropped 22.8% MoM to 7,240 MT and 11.44% YoY, while average realisation rose 8.24% YoY to ₹1,37,247 per MT.
• Pellet: Production plunged steeply 40.06% MoM to 82,354 MT, and 10.28% YoY, yet average realisation increased almost 20% YoY to ₹9,271.
• Carbon Steel: Production improved 6.7% MoM and 7.9% YoY to 1,48,378 MT, while average realisation fell 2.89% YoY to ₹41,136 per MT.
• Sponge Iron: Production rebounded 7.21% MoM to 60,654 MT, but was down 28.72% YoY. Average realisation slipped 2.44% YoY to ₹23,550 per MT.
• Pig Iron: Production decreased by 11.67% MoM to 59,869 MT, and average realisation fell marginally by 0.07% MoM to ₹32,514 per MT.

Shyam Metalics’ September output report reveals a mixed bag of performance through its steel and metal businesses, where some of its high-value products like Aluminium Foil and Speciality Alloys recorded a sound growth, whereas lower volumes pressured commodity products like Sponge Iron and Pellets. Average realisations recorded healthy pickups across major segments, boosting revenue as well as profitability of the firm, despite production volume fluctuations.

Quarterly Highlights (Q2 FY26 vs Q1 FY26)

• CR Coil/Sheets: Production rose to 38,168 MT in Q2 from 31,604 MT in Q1, marking a 20.8% increase. Average realisation per MT edged up by 1.22% to ₹73,580.
• HR Pipe/Tube: Production fell to 702 MT from 1,005 MT, a 30.2% decline quarter-on-quarter. Average realisation also dropped by 5.84% to ₹46,520 per MT.
• Aluminium Foil: Production remained subdued at 5,274 MT compared to 5,440 MT, a 3.05% decrease. However, the average realisation gained 6.18% to ₹3,88,570 per MT.
• Specialty Alloys: Production slightly decreased to 54,133 MT from 56,576 MT, a 4.32% decline, while average realisation improved 8.59% to ₹95,253 per MT.
• Stainless Steel: Production surged to 24,720 MT from 19,813 MT, recording a 24.77% growth, though average realisation dipped marginally by 5.41% to ₹1,31,029 per MT.
• Pellet: Production remained largely steady at 3,07,816 MT versus 3,12,151 MT, a slight 1.39% decline. Average realisation increased 5.47% to ₹9,079 per MT.
• Carbon Steel: Production grew to 4,26,063 MT from 4,06,771 MT, a 4.74% increase, while average realisation fell 7.46% to ₹41,510 per MT.
• Sponge Iron: Production decreased to 1,85,873 MT from 2,56,956 MT, a 27.66% decline, and average realisation slipped 2.93% to ₹23,394 per MT.
• Pig Iron: Sales jumped to 1,83,735 MT from 1,21,722 MT, a sharp 50.95% rise, though average realisation decreased by 3.88% to ₹32,451 per MT.

Operational Updates

• Colored-coated plant at Jamuria, inaugurated in November 2024, also introduced production of SEL Tiger Roofing Sheet under Royale, Elite, Azure, and Alfa sub-brands.
• Blast Furnace (7.7 lakh TPA) of Jamuria, inaugurated with sinter and coking oven plants, reached stable production of pig iron.
• The segment of aluminum foil exhibited healthy YoY and MoM growth, whereas sponge iron and HR tube volumes sequentially decelerated.

Market Reaction

Shyam Metalics and Energy Limited traded within a day’s range of ₹916.45 to ₹965.55, opening at ₹945.00 on 7 October 2025. The company’s market capitalization stands at ₹25,940 crore, reflecting its prominent position in the metals and energy sectors. Its price-to-earnings (P/E) ratio is 28.21, while the dividend yield is 0.48%, with a quarterly dividend of ₹1.12 per share. Over the past 52 weeks, the stock has recorded a low of ₹628.25 and a high of ₹1,001.00, highlighting significant price movement.

REF: https://nsearchives.nseindia.com/corporate/SHYAMMETL_07102025112851_SMELSalesRelease07102025.pdf

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