Shyam Metalics and Energy LimitedQ1 FY27 Results & Financial Update
Shyam Metalics and Energy Limited: Q1 FY27 consolidated results and company financials – revenue ₹5,455.09 Cr, PAT ₹350.73 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Shyam Metalics and Energy Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
During Q1 FY27, Shyam Metalics and Energy Limited registered consolidated revenue from operations of Rs. 5,455.09 crore, marking a 23.33% increase year-on-year from Rs. 4,422.99 crore in Q1 FY26 and a 4.10% increase quarter-on-quarter from Rs. 5,240.36 crore.
Profit after tax (PAT) for the quarter grew by 20.66% year-on-year to Rs. 350.73 crore compared to Rs. 290.67 crore in Q1 FY26, and increased 12.58% sequentially from Rs. 311.54 crore in Q4 FY26.
EBITDA for Q1 FY27 stood at Rs. 812.38 crore, representing a 28.29% growth over Rs. 633.23 crore recorded in the corresponding period of the previous year.
Operating profitability also expanded, with Operating EBITDA reaching Rs. 765.00 crore, up 32.0% year-on-year, driven by sustained operational efficiencies and improved realizations across several product categories.
During the quarter, the company unveiled its Vision 2031 roadmap, outlining its strategic intent to transition from a commodity-focused steel producer into a diversified, value-added metals enterprise.
Operationally, the quarter marked the commercial production commencement of the Aluminium Foil Facility in Odisha, strengthening the company's downstream aluminium ecosystem.
The Board of Directors declared a first interim dividend of Rs. 1.80 per equity share (18% of the face value of Rs. 10 each) for the financial year 2026-27.
01 · Business model
What does Shyam Metalics and Energy do?
Shyam Metalics and Energy Limited (SMEL) is an integrated metal-producing conglomerate operating primarily across West Bengal, Odisha, Jharkhand, and Madhya Pradesh.
The company's operational portfolio spans carbon steel, stainless steel, specialty alloys, aluminum foil, and captive power generation, supported by a presence across intermediate and final products in the steel value chain.
SMEL features significant installed capacities in pellet production and sponge iron, along with downstream expansions including aluminum foil and flat-rolled products.
Headquartered in Kolkata, the enterprise operates through a robust manufacturing and distribution network designed to cater to diverse industrial and commercial segments.
02 · Historical context
What shaped the business before this quarter
The company completed its initial public offering and listed its equity shares on Indian stock exchanges in 2021.
03 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Q1 FY27 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹5,455.09 Cr | ₹4,422.99 Cr | ₹5,240.36 Cr |
| Total income | ₹5,502.18 Cr | ₹4,476.60 Cr | ₹5,269.58 Cr |
| EBITDA | ₹812.38 Cr | ₹633.23 Cr | ₹756.10 Cr |
| Profit before tax | ₹456.30 Cr | ₹388.94 Cr | ₹456.28 Cr |
| Profit after tax | ₹350.73 Cr | ₹290.67 Cr | ₹311.54 Cr |
| EPS | ₹12.60 | ₹10.45 | ₹11.20 |
| EBITDA margin | 14.89% | 14.32% | 14.43% |
Financial interpretation
What the reported numbers mean
Profit after tax represented 6.4% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 8.4% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹47.09 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Iron pellets sales volume rose 25.3% YoY to 3,91,074 tonnes, pig iron volume surged 137.5% YoY to 2,89,201 tonnes, and stainless steel volumes expanded 17.3% YoY to 23,237 tonnes.
Per-tonne realisations improved across major categories including aluminium (up 32.1% YoY to Rs. 4,83,467), stainless steel (up 27.0% YoY to Rs. 1,75,925), and specialty alloys (up 21.5% YoY to Rs. 1,06,613).
What drove margins
EBITDA margin expanded by approximately 100 basis points year-on-year to 14.89% in Q1 FY27, aided by enhanced operating efficiencies across integrated units.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Steel and allied products represented approximately 77% of revenue breakup during Q1 FY27, encompassing pellets, sponge iron, billets, TMT, long products, specialty alloys, and stainless steel.
06 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Commercial production commenced at the new Aluminium Foil Facility in Odisha during Q1 FY27.
Projects, capex and execution
The Aluminium Flat Rolled Products facility remains on track for commissioning in the second quarter of FY27.
07 · Strategy & new businesses
How the company is trying to change its growth mix
The company introduced Vision 2031 to expand its profile into a diversified, value-added metals enterprise with enhanced earnings resilience.
The Board approved raising up to Rs. 4,500 crore via eligible securities, private placement, QIP, or FPO, subject to shareholder and statutory approvals.
08 · Reported developments
What changed operationally
The Board declared a first interim dividend of Rs. 1.80 per equity share for FY27, with the record date set for July 24, 2026.
09 · Pressure points & risks
What is not going smoothly
Subsidiary Shyam SEL and Power Limited received a provisional attachment order dated April 15, 2026, from the Directorate of Enforcement covering investments of Rs. 152.48 crore under the PMLA; the management has refuted allegations and expects no operational impact.
10 · Beyond the numbers
What changed beyond the numbers
Reported update
ESOP Allotment
The holding company transferred 91,747 equity shares to eligible employees during Q1 FY27 pursuant to vested stock options under the company's ESOP schemes.
11 · Key Q&A
The quarter, answered directly
What does Shyam Metalics and Energy do?
Shyam Metalics and Energy Limited (SMEL) is an integrated metal-producing conglomerate operating primarily across West Bengal, Odisha, Jharkhand, and Madhya Pradesh.
What is the clearest takeaway from Q1 FY27?
During Q1 FY27, Shyam Metalics and Energy Limited registered consolidated revenue from operations of Rs. 5,455.09 crore, marking a 23.33% increase year-on-year from Rs. 4,422.99 crore in Q1 FY26 and a 4.10% increase quarter-on-quarter from Rs. 5,240.36 crore.
What drove revenue or demand?
Iron pellets sales volume rose 25.3% YoY to 3,91,074 tonnes, pig iron volume surged 137.5% YoY to 2,89,201 tonnes, and stainless steel volumes expanded 17.3% YoY to 23,237 tonnes.
What mattered most for margins or profitability?
EBITDA margin expanded by approximately 100 basis points year-on-year to 14.89% in Q1 FY27, aided by enhanced operating efficiencies across integrated units.
What changed operationally beyond the headline numbers?
Commercial production commenced at the new Aluminium Foil Facility in Odisha during Q1 FY27.
What are the main pressure points disclosed for the quarter?
Subsidiary Shyam SEL and Power Limited received a provisional attachment order dated April 15, 2026, from the Directorate of Enforcement covering investments of Rs. 152.48 crore under the PMLA; the management has refuted allegations and expects no operational impact.
12 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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13 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
PMLA Legal Proceedings: Track further updates and adjudication responses regarding the provisional attachment order on subsidiary investments.
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