[SMM Steel] India’s SMEL posts strong Q4 profit growth and expansion plans

Published: May 12, 2026 17:10

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[SMM Steel] India’s Shyam Metalics and Energy Limited (SMEL) reported a consolidated net profit of INR 3.19 billion (US$33.76 million) in Q4 FY2025-26, up 45.8% YoY, while revenue increased 26.3% YoY to INR 52.4 billion. The company also approved around US$286 million in capex to expand specialty steel and stainless steel capacities. In addition, SMEL plans to build an 800,000 mt/year specialty wire rod and bar mill in West Bengal by 2029 and expand stainless steel capacity in Odisha from 0.5 million mt/year to 0.6 million mt/year.

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