Shyam Metalics Board Approves Q2 Results, New Director, Acquisition

Shyam Metalics and Energy Limited's Board of Directors met on October 31, 2026, approving the Unaudited Financial Results for the Second Quarter and Half Year ended September 30, 2026. The board also gave in-principle approval for the induction of Mr. Debashis Prasad Pattanaik as a nominee director representing LIC, subject to regulatory approvals. Furthermore, the company approved the acquisition of a 51% controlling stake in Alom Solar Private Limited, which will make it a subsidiary. An initial Capital Expenditure (Capex) budget of approximately ₹360 Crores was approved for the Phutamura Coal Block development, with Shyam Metalics contributing 51% (₹183.60 Crores).