Shyam Metalics & Energy Limited, a metal-producing company, is planning significant capacity expansions across its product portfolio, including carbon steel, stainless steel, and aluminium, with a focus on forward and backward integration. The company has committed a total capital expenditure (CAPEX) of USD 1,172.9 million, of which USD 770.3 million has been incurred at the end of FY25.
The company is advancing a greenfield cold rolling mill project at Jamuria, West Bengal, with a planned capacity of 250,000 tonnes. Phase I of this project, covering 150,000 tonnes, is underway, with USD 56.16 million already spent out of the total USD 70.55 million allocated.
Shyam Metalics has expanded its presence in stainless steel through the acquisition of Mittal Corp, with plans to scale stainless steel billet capacity from 0.12 million tonnes per annum (MTPA) to 0.75 MTPA and finished stainless steel capacity from 0.15 MTPA to 0.24 MTPA. The company is also focusing on stainless steel flat products, bright bars, and wire rods as part of its diversified product strategy.
In the aluminium segment, the company is investing USD 82 million in a greenfield aluminium flat rolled products facility with a capacity of 0.06 MTPA and a brownfield aluminium foil expansion of 0.018 MTPA. Aluminium foil capacity is expected to increase from 24,000 tonnes per annum (TPA) to 43,000 TPA. The company is also setting up an aluminium battery foil plant with a capacity of 5,000 metric tonnes per annum.
Shyam Metalics is enhancing its carbon steel capacities through Ramsarup Industries, where it holds a 60 percent stake. Investments include a 450,000 TPA blast furnace, 150,000 TPA DRI plant, 20 MW captive power plant, and a 0.25 MW coke oven.
As of March 31, 2025, the company’s pending carbon steel CAPEX stands at USD 259 million, while pending CAPEX for stainless steel and aluminium projects totals USD 199 million. Overall, the remaining investment across all ongoing projects is USD 458 million.
The company’s expansion strategy includes increasing renewable energy capacities, with plans to add 100 MW of solar power to its existing 467 MW captive power setup.
“We can grow Revenue, EBITDA at ~2x, ~2.5x times over next 5 years, respectively, even if we grow by 15-17 percent for revenues and 18-20 percent CAGR for EBITDA respectively, without raising any additional capital and retaining our 75 percent stake,” said Brij Bhushan Agarwal, Chairman and Managing Director.
In FY25, Shyam Metalics reported revenues of USD 1,771.1 million, operating EBITDA of USD 218.3 million, and profit after tax of USD 106.4 million. The company’s exports contributed 10 percent to revenue, with key markets including the USA, Japan, Italy, Nepal, and Bangladesh.
Shyam Metalics & Energy Limited is a metal-producing company with integrated operations across steel, stainless steel, aluminium, and ferro alloys. The company operates manufacturing facilities in West Bengal, Odisha, and Madhya Pradesh, supported by captive power plants and railway sidings.