Iron & Steel/Intermediate Products company Shyam Metalics and Energy announced Q1FY24 results: Revenues of Rs 3,307 crore in Q1FY24 compared to Rs 3,223 crore in Q1FY23, up 3% YoY EBITDA of Rs 405 crore in Q1FY24 compared to Rs 607 crore in Q1FY23, down 33% YoY EBITDA Margins of 12.2% in Q1FY24 compared to 18.8% in Q1FY23 Profit After Tax of Rs 235 crore in Q1FY24 compared to Rs 414 crore in Q1FY23, down 43% YoY PAT Margins of 7.1% in Q1FY24 compared to 12.8% in Q1FY23 Commenting on the Results, Brij Bhushan Agarwal, Vice Chairman & Managing Director said, “We are encouraged by the upward trajectory in sales of finished steel, with a robust 36% growth in volumes year on year. The company is progressing as per the strategic roadmap envisaged. Shyam Metalics strives to stay ahead of the curve and will continue to pursue growth, profitability, and sustainability. Today our board has approved a significant capex plan of Rs 3,915 crore, which will enable us to enhance our capacities further. Our present finished steel capacity of 2.7 MTPA will grow to 4.4 MTPA. Cost advantage will be retained even with capacity expansion as we will grow our captive power generation from 377 MW to 597 MW. Sustainability is our top priority, the renewable energy portfolio be enhanced more than tenfold, growing from existing 9.1 MW to 109.1 MW. As the favourable demand environment stays strong in India, we are energized and progressing towards a more enriched product mix and higher volumes, and consequently, a much stronger company in the coming years ” Result PDF