SHYAMMETL · Capital Goods
Shyam Metalics and Energy Ltd. reported revenue of ₹5,455 cr for April to June 2026, +23.4% on the year and +4.1% on the quarter. That is faster than this quarter has grown in recent years (+15.4% on average), so the year-on-year number is not just the season. It is the highest quarterly revenue in the last 12 quarters on record. Over the last four quarters revenue comes to ₹19,583 cr, +22.8% on the four before.
Operating profit (EBITDA) was ₹765 cr, a margin of 14.0%, +90 bps on the year and +15 bps on the quarter. It is the widest margin of the last 8 quarters (range 11.0% to 14.0%). Operating costs grew +22.2% against revenue growth of +23.4%, so more of each rupee of sales reached operating profit.
Net profit was ₹351 cr, +20.6% on the year and +12.5% on the quarter, with earnings per share of ₹12.36. Profit before other income, one-offs and tax grew faster, at +26.0%; other income, one-offs or tax held the headline back. The tax rate of 25% is in line with its recent average. Profit over the last four quarters totals ₹1,121 cr, +21.3% on the four before.
Capital goods and EPC revenue follows project execution, which makes quarters uneven; the order book and new orders tell more about the year than one quarter does. The quarterly statements do not carry the order book, new orders and working capital; those come with the filing read.
On earnings per share of ₹40.24 over the last four quarters, the stock at ₹1,305.30 trades at 32.4 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹3,315 cr | ₹3,606 cr | ₹3,612 cr | ₹3,634 cr | ₹3,756 cr | ₹4,139 cr | ₹4,419 cr | ₹4,467 cr | ₹4,421 cr | ₹5,240 cr | ₹5,455 cr | ₹5,960 cr |
| YoY | — | — | +8% | +24% | +13% | +15% | +22% | +23% | +18% | +27% | +23% | +33% |
| EBITDA margin | 12.3% | 12.3% | 13.5% | 11.3% | 12.1% | 12.4% | 13.1% | 12.1% | 11.0% | 13.9% | 14.0% | 13.8% |
| Other income, % of PBT | 18% | 15% | 14% | 23% | 19% | 18% | 14% | 20% | 19% | 6% | 10% | 5% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 44% | 34% | 26% | 30% | 25% | 26% | 25% | 25% | 27% | 32% | 25% | 22% |
| Net profit | ₹126 cr | ₹220 cr | ₹276 cr | ₹216 cr | ₹197 cr | ₹220 cr | ₹291 cr | ₹260 cr | ₹198 cr | ₹312 cr | ₹351 cr | ₹511 cr |
| YoY | — | — | +37% | −55% | +56% | 0% | +5% | +20% | +1% | +42% | +21% | +97% |
| Core profit YoY | — | — | +47% | +147% | +14% | −14% | +4% | +18% | +3% | +76% | +26% | +124% |
| EPS | ₹4.99 | ₹7.76 | ₹9.89 | ₹7.72 | ₹7.08 | ₹7.84 | ₹10.47 | ₹9.38 | ₹7.07 | ₹11.43 | ₹12.36 | ₹17.67 |
| Flags | · | · | 1 | 1 | 1 | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Shyam Metalics and Energy Ltd. reported revenue of ₹5,455 cr (+23.4% on the year) and net profit of ₹351 cr (+20.6% on the year) for April to June 2026.
Profit before other income, exceptional items and tax moved +26.0% on the year, against +20.6% for reported profit.
None of the 7 checks that could run raised a question.
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Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.