Leading Iron & Steel Products sector company Shyam Metalics and Energy Ltd (SMEL) on January 28, 2025 declared a jump of 56.3% YoY in its consolidated profit after tax (PAT) to Rs 197 crore for the quarter ended December 31, 2024. The company had reported its PAT at Rs 126 crore in the corresponding period of last year, according to its BSE filing.
Its revenue for Q3 zoomed to 3753 crore as against Rs 3315 crore declared in the similar quarter of last year. Last trading price of Shyam Metalics shares on BSE stood at Rs 713.00 per share with intraday fall of 3.00%. Shyam Metalics has a market cap of Rs 19,902.10 crore. Check key details:
Shyam Metalics’ Vice Chairman and Managing Director Brij Bhushan Agarwal said, “we are delighted to report an exceptional performance in Q3FY25, with profitability soaring….to Rs 197 crore. Quarterly revenues increased…to Rs 3,753 crore while Operating EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) reached Rs 456 crore.
Shyam Metalics Recommends Dividend, Sets Record Date
According to the record filing of the company dated January 28, 2025, “Considered and approved the payment of Interim Dividend of Rs. 2.25/- per Equity Share, being 22.50% of the face value of Rs. 10/- each, for the financial year 2024-25. The Record Date for the purpose of determining entitlement of the members for the payment of Interim Dividend shall be Friday, 7 February, 2025. The payment of the said Interim Dividend shall be made within the stipulated time limit.”
Shyam Metalics Shares Performance
The 52-week high price of Shyam Metalics shares on BSE stood at Rs 956.05 per share (as on 24/09/2024) and 52-week low price is Rs 516.15 per share, respectively. Shyam Metalics shares declined by 12.80% in last 1-week, surged, 3.23% in last 6-months, and rose 5.40% in last 1-year. In last 2-years, Shyam Metalics shares offered return of 134.93%.
Should You Buy Shyam Metalics?
According to A R Ramachandran, SEBI registered Independent research analyst, “Shyam Metalics is bearish on the daily charts with strong resistance at 750. A Daily close below support of 703 could lead to a target of 628 in the near term.”
Meanwhile, ICICI Securities has suggested buy call with target price of Rs 975 per share.
Shyam Metalics About
It is the 6th largest metal producing company based in India providing end-to-end solutions with integrated capabilities (Source: CRISIL Report) with a focus on long steel products and ferro alloys. It is amongst the largest ferro alloys producers in terms of installed capacity in India, as of March 2024 (Source: CRISIL Report). It operates seven manufacturing plants across India: three in West Bengal, and one each in Odisha, Indore, Kharagpur, and Jharkhand, according to its official website.
Disclaimer
The stock has been picked from the brokerage report of A R Ramachandran. Moneydaily.in, the author, and the respective brokerage house will not be held accountable for any losses caused as a result of decisions based on the article. Moneydaily.in advises readers to do their own research or consult a SEBI registered investment advisor before making any investment decisions.
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