Shyam Metalics and Energy announced that its stainless steel production surged 100.69% YoY to 7,015 MT in June 2024 as compared with 3,496 MT produced in June 2023.
The average realisation of stainless steel increased 44.03% YoY to Rs 1,39,072/MT in June 2024.The production of aluminium foil fell 6.29% YoY to 1,176 MT with the average realisations declined by 5.60% YoY to Rs 3,32,427/MT in June 2024.
Speciality alloys production stood at 15,216 MT, up 7.11% YoY in June 2024 with a 6.28% YoY increase in average realisation to Rs 1,00,486/MT.
Carbon Steel production fell 1.06% YoY to 1,20,803 MT and average realisation marginally fell 0.90% to Rs 47,624/MT in June 2024.
The sponge iron production soared to 89,261 MT in June 2024 from 40,599 MT in June 2023 and average realisation dropped 2.63% YoY to Rs 26,326/MT in June 2024
The pellet production was higher by 6.95% YoY to 87,251 MT with 9.41% YoY increase in average realisation to Rs 9,314/MT in June 2024.
Shyam Metalics and Energy is a leading integrated metal producing company based in India with a focus on long steel products and ferro alloys. The company is amongst the largest producers of ferro alloys, one of the leading players in terms of pellet capacity and the fourth largest player in the sponge iron industry in terms of sponge iron capacity in India.
The companys consolidated net profit rose 13.39% to Rs 219.94 crore on 5.19% decrease in net sales to Rs 3,606.20 crore in Q4 FY24 over Q4 FY23.
The scrip fell 1.04% to currently trade at Rs 705.20 on the BSE.
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