On a month-on-month basis, stainless steel sales rose 19.36% from 9,149 tonnes in July. Average realisation increased 2.21% from ₹1,79,069 per tonne in July.
Sales across several key product categories also recorded year-on-year growth during August, with carbon steel flat product volumes more than doubling and metallics and speciality alloys sales rising by nearly 28% each.
Carbon steel flat sales more than double
Shyam Metalics sold 29,262 tonnes of carbon steel flat products in August, up 114.14% from 13,665 tonnes a year earlier. Volumes were also 42.81% higher than July’s 20,490 tonnes.
Average realisation stood at ₹82,395 per tonne, up 13.87% from ₹72,360 a year earlier. However, realisations fell 4.56% month-on-month from ₹86,336 per tonne in July.
The company’s carbon steel flat category includes cold-rolled coils and sheets, crash barriers, and hot-rolled tubes and pipes.
Metallics sales rose 27.97% year-on-year to 334,957 tonnes from 261,747 tonnes. Volumes were also up 14% from July’s 293,824 tonnes.
Average realisation increased 8.73% year-on-year to ₹20,039 per tonne and rose 0.41% from ₹19,957 in July. The category comprises cumulative sales of pellets, sponge iron and pig iron.
Speciality alloys sales also increased 27.97% year-on-year to 19,002 tonnes from 14,849 tonnes. Volumes rose 9.16% from July.
Average realisation climbed 23.44% year-on-year to ₹1,11,788 per tonne, but declined 0.79% month-on-month.
Long steel sales decline from July
Carbon steel long product sales rose 2.76% year-on-year to 142,897 tonnes in August from 139,057 tonnes a year earlier. However, volumes declined 7.02% from July’s 153,693 tonnes.
Average realisation increased 2.54% year-on-year to ₹42,679 per tonne and rose 0.97% month-on-month.
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The company classifies carbon steel long sales as cumulative sales of steel billets and long steel products.
Aluminium foil sales rose 27.41% year-on-year to 1,915 tonnes from 1,503 tonnes. Volumes were up 3.22% from July’s 1,855 tonnes.
Average realisation stood at ₹4,85,471 per tonne, up 21.17% from a year earlier but down 4.27% from July’s ₹5,07,101 per tonne.
Shyam Metalics commissioned its aluminium foil plant at Sambalpur in July, with an annual capacity of 0.018 million tonnes. The company said the facility has since achieved stable operations.
Quarterly financial performance
Shyam Metalics’ revenue for the quarter rose 23% year-on-year to ₹5,455 crore, compared with ₹4,423 crore in the same quarter last year.
Net profit increased 18% year-on-year to ₹345 crore from ₹282 crore in the corresponding quarter. EBITDA rose 32% to ₹765 crore from ₹580 crore a year earlier, while the EBITDA margin expanded to 14% from 13.1%.
Shares of Shyam Metalics and Energy were trading at ₹1,080.90 on the NSE on Monday, up 1.46% from the previous close.
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