Shyam Metalics rises after arm acquires 100% stake in SMEL Steel Structural
The primary objective of SMEL Steel Structural is to establish manufacturing facilities for metal and metal products including Aluminium Foil, Aluminium Flat Rolled Products, Casters, CRM, Foil Stocks, etc.
As a result of this acquisition, SMEL Steel Structrural has become a wholly-owned subsidiary of SSPL and a step down subsidiary of Shyam Metalics and Energy.
Shyam Metalics and Energy is a leading integrated metal producing company based in India with a focus on long steel products and ferro alloys. The company is amongst the largest producers of ferro alloys, one of the leading players in terms of pellet capacity and the fourth largest player in the sponge iron industry in terms of sponge iron capacity in India.
The company reported 35.31% jump in consolidated net profit to Rs 276.14 crore in Q1 FY25 from Rs 204.08 crore in Q1 FY24. Revenue from operations grew by 8.36% year on year to Rs 3,611.61 in the quarter ended 30 June 2024.
0 mins read . Dec 18, 2024
0 mins read . Dec 18, 2024
0 mins read . Dec 18, 2024