Shyam Metalics Reports Revenue Growth Of 24% YoY In Q2FY25

Marking a 23.6 per cent year-on-year (YoY) increase in the second quarter of the current financial year (Q2FY25), Shyam Metalics and Energy or SMEL, a multi-metal conglomerate, has witnessed its revenue from operations surge to Rs 3,634 crore in Q2FY25 as against Rs 2,941 crore in the same quarter a year ago.

As per the company’s financial results for the quarter ended 30 September 2024, its profit after tax (net profit) dipped to Rs 216 crore in Q2FY25 compared to Rs 482 crore in Q2FY24, marking a 55.2 per cent decline on a YoY basis. However, as per the company, the Q2 FY24 net profit was high owing to an adjustment of Rs 328 crore for deferred tax asset and reversal of income tax provision on account of brought forward losses arising on the acquisition of Mittal Corp. Its net profit in Q1FY25 stood at Rs 276 crore.

The net profit margin for the company was recorded at 5.9 per cent in Q2FY25 as compared to 16.4 per cent in Q2FY24. The same was 7.6 per cent in Q1FY25. The operating earnings before interest, tax, depreciation and amortisation (EBITDA) was Rs 407 crore in Q2FY25, a 32.4 per cent YoY growth when compared to Rs 307 crore operating EBITDA in Q2FY24.

“We are pleased to report that Q2FY25 has been a steady quarter for us, despite industry challenges. Our revenues in the quarter grew by 24 per cent YoY to Rs 3,634 crore while Operating EBITDA saw a growth of 32 per cent YoY to Rs 407 crore. This reflects our ongoing financial robustness and strategic expertise. We are witnessing an improved product mix, with higher contributions from our key products. We are fully committed to staying on course with our growth plans,” stated Brij Bhushan Agarwal, Vice Chairman and Managing Director of the company.

The operating EBITDA margin in the recently concluded quarter was 11.2 per cent compared to 10.4 per cent during the same quarter in the previous fiscal. The EBITDA was Rs 481 crore in Q2FY25, marking a 39.4 per cent YoY growth in comparison to Rs 345 crore in Q2FY24.