Shyam Metalics and Energy, one of the largest ferroalloy manufacturers in India and a leading player in pellet capacity, ranks fourth in sponge iron production capacity in India.
The company reported a significant 100.69% year-on-year increase in stainless steel production, reaching 7,015 tonnes in June 2024 compared to 3,496 tonnes in June 2023. Carbon steel production fell 1.06% year-on-year to 1,20,803 tonnes. Sponge iron production increased from 40,599 tons in June 2023 to 89,261 tons in June 2024. Pellet production also increased by 6.95% annually to 87,251 tons.
The company's consolidated net profit stood at Rupees 3,606.20 billion (USD 43.65 million) in the 4th quarter of FY24, up 13.39% compared to the 4th quarter of FY23, despite a 5.19% decline in net sales.
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