Shyam Metalics and Energy Q4FY26 Results Review

Shyam Metalics (SMEL) reported a Q4FY26 EBITDA of INR 7.3bn, growing 42% YoY but marginally missing Goldman Sachs estimates by 5% due to forex losses. The firm maintains its Buy rating and INR 1,065 price target based on robust growth and low leverage.

Key Takeaways

• 1.SMEL reported a marginal 5% miss on EBITDA estimates (INR 7.3bn actual vs INR 7.7bn GSe) primarily due to forex translation losses.
• 2.EBITDA grew 42% YoY, supported by higher volumes in CR coils and Pig Iron, alongside improved realization across all product categories.
• 3.The company maintains a very strong balance sheet with a net debt/EBITDA ratio of 0.2x and is expanding its value-added steel portfolio with a new INR 27bn capex approval.

Table of Contents

• Q4FY26 EBITDA rose 42% YoY
• Investment Thesis - Shyam Metalics & Energy Ltd
• Price Target Risks & Methodology - Shyam Metalics & Energy Ltd
• Disclosure Appendix
• GS Factor Profile
• M&A Rank
• Quantum
• Disclosures
• Ratings, coverage universe and related definitions

Document Preview

Page 1 of 5

Subscribe for full accessStart Free Trial