According to the company's filing, Shyam Metalics and Energy Limited reported 19.1% year-on-year growth in December stainless steel volumes, reaching 9,393 tonnes. The performance was driven by both volume and price improvements, with average realisations increasing 18.2% annually to ₹1.45 lakh per tonne and rising 1.79% from the previous month. Monthly volumes also showed strong momentum, surging 44.1% from November. The latest data reveals this growth was part of a broader mixed performance across the company's diversified product portfolio.
Despite strong December performance, Q3 stainless steel volumes declined 9.9% sequentially, though this was partially offset by 8.4% improvement in realisations. As reported by the company, the divergent trends reflect varying product mix and market conditions, with stronger traction observed in value-added products while intermediate segments faced pressure during the quarter. The mixed performance demonstrates varying demand patterns across different steel and alloy segments in the current market environment.
The speciality alloys segment delivered exceptional performance, with December volumes jumping 50.1% from last year and nearly 12% from the previous month, while realisations rose 3.1% year-on-year. According to the business update, quarterly speciality alloy volumes increased 6%, though realisations softened 2.3% sequentially. The CR coil and CR sheets segment continued scaling up significantly, with December volumes surging over eight-fold annually and Q3 volumes rising 21.4% sequentially, supported by the commissioning of the colour-coated plant at Jamuria. Recent data shows this segment achieved an extraordinary 835.77% year-over-year surge, indicating either significant market recovery or successful market penetration by the company.
Performance across other segments remained mixed, as reported by the company. Pellet sales volumes fell 1.95% year-on-year and 16.72% month-on-month in December to 85,413 tonnes, though average realisations rose 5.5% annually and 1.65% monthly to ₹9,170 per tonne. Carbon steel December volumes declined 8% annually with realisations falling 4.4%, though volumes improved 9.3% monthly. Latest data confirms carbon steel sales decreased 8.03% year-over-year, reflecting challenging market conditions in traditional segments. Quarterly carbon steel performance showed volumes down 3.3% sequentially with 3.0% lower realisations. Additionally, aluminium foil sales declined 4.69% year-over-year, while pig iron volumes rose 45.5% from last year, supported by the blast furnace ramp-up at Jamuria.
The commissioning of new facilities supported growth in specific segments, with the HR tubes and pipes segment showing strong sequential growth of 81.1% in Q3 from a low base. Recent developments include the commencement of commercial production at a new 0.45 MTPA blast furnace through step-down subsidiary Ramsarup Industries Limited, featuring zero process water discharge design. Following the Q3 business update, shares of Shyam Metalics and Energy Limited were trading with recent stock returns showing +2.09% over 5 days and +4.18% over 1 month, though down 4.79% over 6 months. The company had previously reported 24% growth in overall sales for the September quarter, though higher raw material costs impacted profitability, with consolidated revenue crossing ₹3,000 crore while net profit fell over 70% and EBITDA margin declined to 7.9% from over 25% compared to the same period last year.
