Shyam Metalics to invest ₹2,700 Cr in new expansion, total capex ₹18,760 Cr
Shyam Metalics and Energy Limited (SMEL) announced a new ₹2,700 crore strategic growth expansion program, to be funded entirely through internal accruals. This investment is in addition to the company's previously announced ₹16,060 crore capex pipeline, of which ₹8,700 crore has already been deployed. The total capex pipeline now stands at ₹18,760 crore, with the balance to be executed over the next 3-4 years, targeting commissioning by 2029. The expansion aims to deepen SMEL's presence in value-added and specialty steel segments, strengthen stainless downstream capabilities, and shift towards a richer product mix with improved margin potential. Key projects include a ₹900 crore investment in an 8,00,000 TPA Special Bar Quality (SBQ) and Specialty Wire Rod & Bar Mill, and a ₹1,800 crore investment to expand stainless steel capacity and downstream integration.
Key Highlights
- SMEL announced a new ₹2,700 crore strategic growth expansion program.
- This adds to the existing ₹16,060 crore capex, totaling ₹18,760 crore pipeline.
- The investment targets higher-margin SBQ and specialty steel, and stainless steel expansion.
- The entire expansion will be funded through internal accruals, avoiding balance sheet stress.
- Aims for improved product mix, margin expansion, and import substitution by 2029.