Shyam Metalics and Energy Limited (SHYAMMETL)

Large Cap

Shyam Metalics is India's 6th largest integrated multi-metal producer with 16.93 MTPA capacity, strong "Ore to Metal" integration, and 467 MW captive power. It is net cash positive, AA+ rated, and shifting to higher-value products, aiming for self-funded growth with a 20+ year execution track record.

₹1,226.6

+28.10 · +2.34%

Market cap ₹31,809 Cr

IndicesNifty 500

ThemesManufacturing Capital Goods Metals & Mining

Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am IST

Details

Quote21 Oct, 04:45 am IST

Base fundamentals14 Oct 2026 · screener

Latest result20 Jul, 06:13 pm IST

Score21 Oct, 04:30 am IST · v4.3-runtime-valuation

Tags02 May 2026

Coverage14/14 · 100%

Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)

Technical timing lens

Trend score and candlestick chart

67Bullish

full bull SMA stack · SMA20 +3.2% / mo · RSI overbought · MACD + · near 52W high

Stock trend: 78

Sector RS: 50

Sector 3M: -6.3% vs Nifty 500 -5.6%

Industrials FPI tailwindNot confirmed

Latest mapped FPI equity flow was not positive. View sector evidence

Compare peers →

Technical chart

SHYAMMETLD candles · FIT view+49.5%

Latest close ₹1226.60 on 2026-10-19

Bar

+2.2%

RSI

MACD hist

15.47

52W pos

97%

2026-10-19O ₹1200.20H ₹1240.50L ₹1178.50C ₹1226.60Vol 7.7L sh

Up bar

Down bar

EMA 20

EMA 50

Volume + 20D avg

Result date

RSI(14)

MACD / signal

Market context

Relative performance and chart statistics

Adjusted completed-session prices, rebased to 100

SHYAMMETLNifty India ManufacturingNifty 500

SHYAMMETL: +16.3%
Nifty 500: -5.6%
Nifty India Manufacturing: -5.8%
Vs Nifty 500: +21.8 pp

Chart stats

19 Oct 2026

From 52W high: -1.1%
52W range position: 97%
ATR (14): 3.2%
Volume vs 20D: 1.21x
Avg traded value: ₹67.7 Cr
20D price channel: ₹1,015 - ₹1,240.5

Quarter ended 30 Jun 2026

Excellent · 75

Rev +23% YoY · PAT +21% YoY · margin expansion

Revenue: ₹5,455 Cr; YoY +23.4%
PAT: ₹351 Cr; YoY +20.6%
Operating margin: 14.0%; QoQ +0 bps
PAT margin: 6.4%; QoQ +48 bps

Filed 20 Jul 2026Full result & history →

Current-quarter concall

Transcript not linked yet

No source-linked earnings-call transcript is available for this company in the active results quarter.

Search Concall Intelligence

Technical snapshot

Positioning and participation

Stage 2 Uptrend

Current trend context ranked against the Nifty 500. It describes the chart; it is not a buy or sell signal.

RS percentile: 93; +15 ranks over 20D
Stage 2 entry: 05 Jun 2026; 95 trading sessions · established
Sector rotation: #5; neutral · 58 stocks
Industry rotation: #8; weakening · 8 stocks

Trend structure

Above 20-DMAAbove 50-DMAAbove 200-DMA

RSI (14)

Overbought zone

MACD

Above signal

Histogram +15.47

Volume participation

1.2x average

Versus 20-session average

20-session position

94% of range

₹1,015 low · ₹1,240.5 high

Relative performance

vs Nifty 500

1M: +15.0 pp; stock +11.5%
3M: +21.8 pp; stock +16.3%
6M: +47.6 pp; stock +44.0%
1Y: +39.7 pp; stock +32.6%

From 52W high

-1.1%

High ₹1,240.5

52W range position

97%

₹746 - ₹1,240.5

ATR (14)

3.2%

₹38.78

Avg traded value

₹67.7 Cr

20-session average

Current setup

Established Stage 2

Entered 05 Jun 2026 · 95 sessions

Open detailed technicals →

Research snapshot

What the evidence says now

Weak fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.

Weak U-Score but strong trend: momentum may be ahead of fundamentals.

Suggested next step

Momentum only

Trend is strong but fundamentals do not support a clean investment thesis.

U-Score

Legacy · OVERVALUED

Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.

Financials

Fundamentals, quarterly history, margins, returns and balance-sheet evidence

Quarter ended 30 Jun 2026

Excellent · 75/100

Rev +23% YoY · PAT +21% YoY · margin expansion

Filed 20 Jul 2026

Open results browser →

Metric	This quarter	YoY	QoQ
Revenue	₹5,455 Cr	+23.4%	+4.1%
EBITDA	₹765 Cr	+31.9%	+5.2%
Operating margin	14.0%	+100 bps	+0 bps
PAT	₹351 Cr	+20.6%	+12.5%
PAT margin	6.4%	-16 bps	+48 bps

NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.

Fundamentals

Valuation

P/E: 28.30
P/B: 2.76
EV/EBITDA: 9.48
Market Cap: 31809.00Cr

Profitability

ROE: 9.70%
ROCE: 13.00%
ROA: 5.58%
Dividend Y: 0.39%

Growth (CAGR)

Revenue 5Y: 24.00%
EPS 5Y: 5.00%
Revenue 3Y: 14.00%
EPS 3Y: 9.00%

Balance Sheet

Debt/Equity: 0.09
Interest Coverage: 10.90×
Altman Z: 4.62
Book Value: 413.00

Cash Flow

FCF Yield: 0.19%
FCF Positive Y: 3/5
OCF: 1713.00 Cr
EPS TTM: 40.24

Shareholding

Promoter Hold: 74.59%
Promoter Pledge: 0.00%
Momentum 52W: 98%

Financial History

Updated 20/10/2026

Revenue

₹ Cr

Latest: 18.6k+22.4% vs prev

Net Profit

₹ Cr

Latest: 1,060+16.6% vs prev

Return on Equity

Latest: 9.2+6.9% vs prev

Technicals

Trend interpretation, Stage 2, relative strength, volume and indicator evidence

Daily technical trend read

Bullish setup

Trend is constructive — long-term uptrend intact. RSI 77.

Price > SMA20 > SMA50 > SMA200 — full bullish stack.
SMA20 rising (~3.1% over last month) — short-term momentum positive.
RSI(14) at 77 — overbought zone; risk of mean reversion.
MACD above signal, histogram expanding — bullish momentum building.
Within 3% of 52-week high — testing resistance.

Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.

Nifty 500 leadership

Relative Strength & Trend Stage

RS percentile

Stage 2 UptrendEstablished S2

1M return

+11.5%

3M return

+16.3%

6M return

+51.0%

1Y return

+35.5%

RS 1D

RS 20D

+15

Sector rank

Industry rank

Stage evidence

Price is 26.5% above the 30-week proxy.
The 50-DMA is above the 30-week proxy and its slope is rising +4.1%.
Both 3-month and 6-month returns are positive.

50-DMA

price above

200-DMA

price above

S2 entered

05 Jun 2026

S2 age

95 trading sessions

Sector

neutral

Industry

weakening

Relative-strength line vs Nifty 500 (base 100)

261 observations

19 Oct 2026Value 139.22+3.40%

RS vs Nifty 500139

Valuation & peers

U-Score 30 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies

OVERVALUED

Fundamental score breakdown

U band · OVERVALUED

Valuation1/30

Growth9/25

Quality2/20

Balance Sheet11/15

Cash Flow3/10

Piotroski

8/9 (+5)

Penalties

-1

Raw sum

Why this score?

Top U-Score contributors and drags from the latest stored fundamentals.

30/100 · legacy band OVERVALUED

Positive drivers

Piotroski is strong at 8/9.
Balance sheet contributes 11/15 to the score.
Growth contributes 9/25 to the score.

Main drags

Penalty bucket subtracts 1 points.
Fair-value margin of safety is negative at -147.4%.
Valuation is weaker at 1/30; verify the latest quarterly trend.

Sector valuation model

Cyclical valuation: normalized earnings, not just trailing PE

Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.

Cyclical normalized

Primary lens

Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.

Secondary checks

Current margin versus 5-year average, balance sheet strength, commodity cycle.

Main risk check

A low trailing PE may mean peak-cycle earnings, not true cheapness.

28.3

2.8

EV/EBITDA

9.5

ROE

9.7%

ROCE

13.0%

FCF Yield

0.2%

Debt/Equity

0.1

MoS

-147.4%

Cyclical/value-trap warning

This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.

Score movement

Stored run vs live recompute

This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.

Stored run: 21 Oct 2026

v4.3-runtime-valuation

Final score

Previous: 30

Legacy U-Score band

OVERVALUED

Previous: OVERVALUED

Margin of safety

-147.4%

Previous: -147.4%

Score history

12 stored score snapshots. Latest stored move: +0 points.

21 Oct 2026

v4.3-runtime-valuation

Factor attribution

No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.

Modelled fair value

Graham Number

₹611.5

-100.6% MoS

Growth-justified P/E

12.3

Growth-justified Value

₹495.76

-147.4% MoS

PEG

4.29

Comparable companies

Peers

Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.

Compare all ↗

Ticker

Name

Why peer

Score

ROE

MoS

Verdict

KIRLOSENG

Large

Kirloskar Oil Engines Limited

Schneider Electric Infrastructure Limited

Prince Pipes And Fittings Limited

Venus Pipes & Tubes Limited

Tijaria Polypipes Limited

Business, management & trust

Growth engines, risks, management commitments and evidence-backed delivery

Business and thesis

Where growth can come from, and what can break the case

Thesis intactReviewed 2026-07-21T03:41:31.508Z

Management commentary snapshot

Q1 FY27 saw robust YoY growth: Revenue up 23%, EBITDA up 28%, and PAT up 21%. Sequential performance also showed positive momentum with Revenue +4%, EBITDA +7%, and PAT +13%, driven by higher volumes and improved realizations in value-added products.

The company delivered strong Q1 FY27 results with robust YoY and QoQ growth in revenue, EBITDA, and PAT. The shift towards higher-margin value-added products is evident in improved realizations and EBITDA/tonne for key segments. Capacity expansion is progressing, funded by internal accruals, reinforcing the self-funded growth strategy.

Current business mix

Revenue Mix Q1 FY27

Latest issuer-disclosed distribution across 5 reported categories.

Intermediates37.0%

Finished Steel40.0%

Speciality Alloys10.0%

Stainless Steel8.0%

Aluminium5.0%

Growth engines

Shift to Value-Added Products

Portfolio mix moving toward higher-margin value-added products like Stainless Steel, Aluminium Foil, CR Coils/Sheets, SBQ, and Railway Wagons.

Capacity Expansion

Vision 2031 targets ~27 MTPA capacity, up from 16.93 MTPA, with significant additions in steel, stainless steel, and aluminium.

Backward & Forward Integration

"Ore to Metal" integration, captive power, and new verticals like Railway Wagons and Aluminium FRP enhance control and value capture.

Geographic Expansion & Branding

Entering newer states with focus on branding (SEL Tiger) and increased margins for TMT, structural steel, and roofing sheets.

Capacity and execution

Aluminium Foil Facility

Aluminium Foil facility commissioned in July 2026, with post-expansion capacity of 0.042 MTPA.

Ramsarup Industries Blast Furnace

Phase I Blast Furnace successfully commissioned along with Sinter and Oxygen unit.

Greenfield Cold Rolling Mill

Both Phase 1 (1,50,000 Ton) and Phase 2 (2,50,000 Ton) have been successfully commissioned.

Railway Wagons Manufacturing

Phase 1 operations to commence in September 2026 with a capacity of 2,400 units.

Tailwinds

Government Infrastructure Push

GoI circular for use of stainless steel in national highway bridges and centrally sponsored projects in marine environments.

"Make in India" Initiative

Strategic entry into rolling stock segment with wagon manufacturing supports the GoI's "Make in India" initiative.

Aluminium Demand-Supply Gap

Aluminium plant bridges demand & supply gap in aluminium flat rolled products, strengthening backward integration.

Risk radar

Cyclical Industry Exposure

Operating in a commoditized industry, the company is subject to inherent cyclicality in metal prices and demand.

Large Capex Execution Risk

A significant portion of the planned capex (Rs. 10,041 Cr) is still pending, posing execution and commissioning risks.

Raw Material Price Volatility

Despite integration, the company remains exposed to fluctuations in raw material prices, impacting cost structures.

Management accountability

What management said, and what results must prove

Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.

Analyst reading lens

Compare BOTH

Q1 results show strong YoY growth, indicating overall business expansion. QoQ comparison is also relevant for industrials to assess sequential momentum, execution pace, and the impact of new capacities or product mix changes, especially given the ongoing capex cycle.

Sector KPIs management disclosed

Revenue from Operations

Q1 FY27: Rs. 5,455.1 Cr (+23.3% YoY, +4.1% QoQ)

Operating EBITDA

Q1 FY27: Rs. 765.3 Cr (+32.0% YoY, +5.3% QoQ)

Operating EBITDA Margin

Q1 FY27: 14.0% (vs 13.1% Q1 FY26, 13.9% Q4 FY26)

PAT

Q1 FY27: Rs. 350.7 Cr (+20.6% YoY, +12.6% QoQ)

Management forward view

Vision 2031 Financial Targets

Targets Revenue ~Rs. 42,500+ Cr (~2.3x FY26), EBITDA ~Rs. 6,200+ Cr (~2.7x FY26), RoE 20%, RoCE 22%, and Net Cash Positive.

Self-Funded Growth Strategy

All growth and capex plans are to be funded entirely from internal cash generation, with no new equity and no increase in net debt.

Capital Allocation Discipline

Capex funded by accruals, debt only for working capital, and debt-to-equity capped at 0.5x to ensure financial discipline.

Value-Added Product Focus

Aim for ~80% of revenue mix from value-added products, expecting profits to grow faster than volumes.

Thesis monitor

Numbers and claims to verify in the next filings

Checkpoint	Current evidence	What to verify next
Capex Execution & Commissioning	Rs. 9,205 Cr incurred (49% of total planned Rs. 18,785 Cr).	Timely commissioning and ramp-up of large projects like Hot Strip Mill, SBQ Mill, and Stainless Steel expansions.
Product Mix Contribution	Finished Steel 40%, Stainless Steel 8%, Aluminium 5% of Q1 FY27 revenue.	Increasing contribution of higher-margin value-added products to overall revenue and EBITDA.
EBITDA/Tonne Trends	Strong QoQ increase in Stainless Steel and Aluminium EBITDA/tonne in Q1 FY27.	Sustained improvement in EBITDA/tonne across value-added segments and overall margin expansion.
Working Capital Management	Working Capital Days at 9 days as of Mar-26.	Maintenance of efficient working capital cycle amidst capacity ramp-up and business growth.

Verification checkpoints are IndiaPulse research interpretation, not investment advice.

Trust Score

79Limited evidence · low confidenceTrust Lite

Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.

Limited evidence: Claim history is still being built. It ranks around the 88th percentile of the scored universe and 88th percentile within Industrials. No major sub-score weakness stands out.

This is a financial-behaviour screen, not a claim-tested management reliability verdict.

Computed 21 Oct 2026

management-trust-v1

120 docs text-extracted · 36 concalls text-extracted

Score band

Limited evidence

Financial behaviour is scored, but management claims do not yet have enough outcome checks.

Relative rank

88th percentile

overall median 67 · Industrials: 88th pctile, median 68 · Large: 74th pctile, median 73

Evidence depth

Financial-only

120 documents have extracted text, but claim history is not strong enough yet.

Claim delivery

Outcome history still building

0 claims extracted · No contradicted claim yet

How to read this Trust Score

Limited evidence · low confidence

What it measures

Reliability of management and financial delivery, using financial behaviour only.

Confidence

Treat this as an early read until more concalls and outcomes are matched.

Investor use

Can support position sizing if valuation and trend also agree.

Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.

Forensic breakdown

Read low sub-scores as due-diligence warnings, not automatic sell signals.

Promoter

strong · holding, pledge, alignment

Cash flow

acceptable · profit to cash conversion

Balance sheet

strong · leverage and solvency

Discipline

acceptable · capital discipline

Results

strong · quarterly consistency

Trust positives

▸Promoter holding is 74.6%.
▸Promoter pledge is zero.
▸FCF yield is positive at 0.2%.
▸Debt/equity is 0.09.

Trust risks

▸No major Trust Lite risk flags.

Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.

Compare Industrials stocks Browse Indian stocks starting with S Explore fundamental stock screeners Browse Indian investment themes

Related companies

Kirloskar Oil Engines Limited (KIRLOSENG)Schneider Electric Infrastructure Limited (SCHNEIDER)Prince Pipes And Fittings Limited (PRINCEPIPE)Venus Pipes & Tubes Limited (VENUSPIPES)Tijaria Polypipes Limited (TIJARIA)

Important announcements & filings

Latest exchange and company disclosures found within the past two years.

Source: Bse

Open source ↗

Verify on:NSE India ↗

All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.

Shyam Metalics and Energy Limited (SHYAMMETL)

Trend score and candlestick chart

Technical chart

Relative performance and chart statistics

What the evidence says now

Financials

Quarter ended 30 Jun 2026

Fundamentals

Valuation

Profitability

Growth (CAGR)

Balance Sheet

Cash Flow

Shareholding

Revenue

Net Profit

Return on Equity

Technicals

Daily technical trend read

Relative Strength & Trend Stage

Valuation & peers

Fundamental score breakdown

Why this score?

Positive drivers

Main drags

Cyclical valuation: normalized earnings, not just trailing PE

Stored run vs live recompute

Score history

Factor attribution

Modelled fair value

Comparable companies

Business, management & trust

Where growth can come from, and what can break the case

Revenue Mix Q1 FY27

Shift to Value-Added Products

Capacity Expansion

Backward & Forward Integration

Geographic Expansion & Branding

Aluminium Foil Facility

Ramsarup Industries Blast Furnace

Greenfield Cold Rolling Mill

Railway Wagons Manufacturing

Government Infrastructure Push

"Make in India" Initiative

Aluminium Demand-Supply Gap

Cyclical Industry Exposure

Large Capex Execution Risk

Raw Material Price Volatility

What management said, and what results must prove

Revenue from Operations

Operating EBITDA

Operating EBITDA Margin

PAT

Vision 2031 Financial Targets

Self-Funded Growth Strategy

Capital Allocation Discipline

Value-Added Product Focus

Numbers and claims to verify in the next filings

How to read this Trust Score

Forensic breakdown

Trust positives

Trust risks

Continue researching Shyam Metalics and Energy Limited

Important announcements & filings

Announcement under Regulation 30 (LODR)-Press Release / Media Release 5 Oct - Shyam Metalics signs MoU with Maharashtra for 50,000 crore, 9 MTPA Chandrapur steel complex.

Announcement under Regulation 30 (LODR)-Memorandum of Understanding /Agreements 2 Oct - Signed non-binding MoU with Maharashtra for 9 MTPA Chandrapur steel complex; ₹50,000 crore investment.

Announcement under Regulation 30 (LODR)-Monthly Business Updates 6 Aug - July sales release: mixed volume trends across products; CR coil and pig iron rose, sponge iron declined.

Announcement under Regulation 30 (LODR)-Newspaper Publication 4 Aug - We are enclosing newspaper publication with respect to notice of 24th AGM and e-voting information

Business Responsibility and Sustainability Reporting (BRSR) 3 Aug - Shyam Metalics filed its FY2025-26 BRSR, part of the 24th Annual Report.

Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 25 Jun - Intimation of Exercise of Options by Eligible Employees and Consequent Allotment of Shares

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 24 Jun - Company held investor meetings in Singapore; only publicly available information was discussed.

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 18 Jun - Company met investors in Mumbai; discussion limited to publicly available information only.

Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 16 Jun - Intimation of Exercise of Options by Eligible Employees

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 8 Jun

Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 1 Jun - Nomination and Remuneration Committee at its meeting held today considered and approved the exercise of options under SMEL Employee Stock Incentive Plan - 2023

Announcement under Regulation 30 (LODR)-Press Release / Media Release 11 May - Q4/FY26 results: revenue Rs. 5,240 Cr, PAT Rs. 312 Cr; board approved Rs. 2,700 Cr capex.