Shyam Metalics eyes 2.5x revenue growth to ₹400bn by 2031

Shyam Metalics and Energy Limited (SMEL) announced its Vision 2031, targeting a 2.5x increase in topline to reach ₹400bn by 2031. This growth is anticipated to be driven by capacity expansion, product mix enhancement, and export diversification, aiming to expand aggregate capacity from 15mn tons to 27mn tons for intermediate and finished products. The company also expects an EBITDA margin improvement of 200-300 basis points post-expansion.

To support this vision, SMEL has earmarked ₹100bn in capital expenditure, primarily from internal accruals, focusing on technology upgradation, process innovation, energy efficiency, and downstream integration. The growth program is projected to create over 10,000 new direct and indirect jobs and double export revenues from $150mn to $300mn. Initiatives include a 6.5x increase in flat product capacity for stainless steel and a continued focus on precision engineering and automotive sectors for long products.

SMEL's strategy emphasizes sustainable, value-driven, and capital-efficient growth through brownfield expansions across West Bengal, Odisha, and Madhya Pradesh. The company recently secured iron ore mining assets in Maharashtra to enhance raw material security and optimize costs, reinforcing its integrated ferrous and non-ferrous portfolio.