India's Shyam Metalics and Energy limited (SMEL) reported consolidated net profit of INR 3.19 billion (USD 33.76 million) in the fourth quarter (January-March) of fiscal year 2025-26, up 45.8 percent year-on-year, according to company regulatory filings on Monday, May 11.
The company reported total revenue of INR 52.40 billion rupees (US$554.71 million) in the quarter, up 26.3 percent year-on-year.
SMEL also approved a capital expenditure of about US$286 million to expand its special steel and stainless steel production capacity.
It also approved the construction of a dedicated wire rod and rod mill with a furnace capacity of 800,000 tonnes per annum at its steel plant at Kharagpur in the state of West Bengal with an investment of US$95 million, to be completed by 2029.
At its Sambalpur plant in Odisha, SMEL has approved plans to increase its stainless steel production capacity from 0.5 million tonnes per annum to 0.6 million tonnes per annum, as well as downstream facilities including cold rolling, hot rolling, annealing and etching.
The SMEL product range also includes iron ore pellets, reinforcement, structural steel, ferroalloys and aluminum foil.
