Shyam Metalics Reports Strong Q2: Consolidated Profit Surges To ₹511 Crore, Revenue Hits ₹5,960 Crore, Alom Solar Stake Approved

Mumbai: Shyam Metalics and Energy Limited announced its unaudited consolidated financial results for the second quarter and half year ended September 30, 2026. The company's total income for the quarter stood at ₹5,994.34 crore, marking a 32.1 per cent increase from the corresponding quarter last year.

Consolidated Performance

Total expenses for the quarter were ₹5,137.17 crore, up from ₹3,927.97 crore in the same period last fiscal year. Basic earnings per share (EPS) for the quarter rose to ₹18.36, compared to ₹9.36 in the second quarter of the previous fiscal year.

Strategic Acquisitions

The board granted in-principle approval to acquire a 51 per cent controlling equity stake in Alom Solar Private Limited. Alom Solar is engaged in the mining and energy sector, holding rights to the Phutamura Coal Block in Raigarh District, Chhattisgarh, which has estimated reserves of approximately 170 million tonnes.

Capital Expenditure

The company approved an initial capital expenditure budget of approximately ₹360 crore for the development and operationalisation of the Phutamura Coal Block. Shyam Metalics will contribute 51 per cent, or ₹183.60 crore, towards this budget, with the remaining 49 per cent to be funded by a joint venture partner.

Board Appointment

Debashis Prasad Pattanaik received in-principle approval for induction as a nominee director, representing LIC. The appointment is subject to obtaining the necessary Director Identification Number and other regulatory approvals.

Depreciation Method Change

Effective July 1, 2026, the company changed its depreciation method from Written Down Value (WDV) to the Straight-Line Method (SLM). This change reduced the depreciation charge for the period from July 1, 2026, to September 30, 2026, by ₹171.77 crore.

Disclaimer: This report is based on the company's filed financial results (standalone or consolidated, as applicable) and is intended solely for informational purposes.