Q4FY24 Quarterly & FY24 Annual Result Announced for Shyam Metalics and Energy Ltd.
Iron & Steel Products company Shyam Metalics and Energy announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenues increased to 3,606 crore, up by 5.2% compared to Q4FY23. Operating EBITDA reached 442 crore, showing a 3.5% increase YoY. EBITDA stood at 493 crore, reflecting a significant 9.6% growth compared to the same quarter last year. Profit After Tax (PAT) declined to 220 crore, marking a decrease of 13.4% compared to Q4FY23. FY24 Financial Highlights: Revenues for the fiscal year amounted to 13,195 crore, showing a growth of 4.2% compared to FY23. Operating EBITDA for FY24 reached 1,570 crore, indicating a 4.7% increase YoY. EBITDA stood at 1,729 crore, demonstrating a substantial 7.8% growth compared to the previous fiscal year. Profit After Tax (PAT) surged to 1,029 crore, marking a significant rise of 21.9% compared to FY23. Commenting on the Results, Brij Bhushan Agarwal, Vice Chairman & Managing Director said “In the light of the challenges faced by the industry, I am happy to announce our commendable performance in FY24. Our Revenues and profitability increase reflects our sustained financial strength and strategic prowess. Our product mix continues to improve with higher contribution from our key products. We continue to stay on course with our growth plans. In enhancing our capacities further, the board has approved expansion plans into new metals - Stainless Steel Wire Rods & Stainless Steel Bright Bars and Aluminium Foil with total investments of Rs 810 crores which will be funded through internal accruals. This would further boost our revenues and margins in forthcoming years. Looking ahead, we remain resolute in our commitment to delivering sustained growth and value to our stakeholders.“ Result PDF15-05-2024