Shyam Metalics Hits All-Time High, Market Cap Crosses ₹30,000 Crore As Company Commissions 18,000 TPA Aluminium Foil Plant in Odisha

Shyam Metalics and Energy Ltd. shares touched an all-time high, taking the company's market capitalisation above Rs 30,000 crore, after it announced the start of commercial production at its new aluminium foil plant in Sambalpur, Odisha. The facility, commissioned through its step-down subsidiary SMEL Steel Structural Pvt. Ltd., marks the company's entry into premium value-added aluminium products and further strengthens its downstream aluminium business.

The new plant has an installed capacity of 18,000 tonnes per annum (TPA). It will manufacture premium aluminium foils with thickness ranging from 6 to 40 microns, catering to packaging, pharmaceutical and industrial applications.

Next Plant by September

The company also said its Aluminium Flat Rolled Products (FRP) facility at the same location is in the final stage of completion. Commercial production is expected to begin by September 2026.

The FRP plant will have a capacity of 60,000 TPA and will produce aluminium sheets and coils with thickness ranging from 0.3 mm to 4 mm.

Together, the two projects involve an investment of around Rs 800 crore in Odisha and are aimed at creating an integrated aluminium downstream manufacturing ecosystem.

Growth Strategy

Shyam Metalics said the expansion is part of its plan to increase its presence in high-value aluminium products. The company expects the new facilities to meet rising domestic demand, reduce dependence on imports and support the Make in India and Atmanirbhar Bharat initiatives.

The company believes the new product mix can improve margins by 40-50% through better realisations. It also expects the expansion to help increase overall revenue by 2 to 2.5 times over the coming years with stronger domestic sales and higher exports.

Management View

Chairman and Managing Director Brij Bhushan Agarwal said the aluminium foil plant is an important step towards building a world-class downstream aluminium business. He added that the company aims to supply specialised products to fast-growing industries while creating employment opportunities in Odisha. Agarwal also said the FRP facility is expected to start operations by September 2026.

FY31 Vision

The aluminium expansion supports Shyam Metalics' Vision FY31, under which the company aims to achieve 2.3 times revenue growth, 2.7 times EBITDA growth, 22 percent Return on Capital Employed (RoCE) and 20% Return on Equity (RoE). It also plans to become India's second-largest stainless steel producer after ongoing capex and emerge as one of the country's largest aluminium foil exporters.