Shyam Metalics & Energy share price today

Shyam Metalics & Energy Ltd's share price was ₹1,231.40 at the close on 4 November 2026. It has been rising for 23 weeks. That is 25.0% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹770 and ₹1,231, and at that close it was at the high of that range.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Shyam Metalics & Energy Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 12 weeks in a row.

Over the last 5.4 years the share price moved +217% while the NIFTY 500 moved +63%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare), profit up on a year earlier for 6 quarters in a row and highest quarterly profit in 16 quarters.

1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare)

   In the September 2026 quarter revenue was ₹5,960 crore, +33.4% on a year earlier.

2. Profit up on a year earlier for 6 quarters in a row

   In the September 2026 quarter profit was ₹511 crore, +96.5% on a year earlier.

3. Highest quarterly profit in 16 quarters

   Profit of ₹511 crore in the September 2026 quarter is the highest of the last 16 quarters.

For July to September 2026 (the quarter ended 30 September 2026), Shyam Metalics & Energy reported revenue of ₹5,960 crore, up 33.4% from ₹4,467 crore a year earlier, and a profit of ₹511 crore, up 96.5% from ₹260 crore.

Shyam Metalics & Energy results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

The newest call in our records is from 21 July 2026, about April to June 2026; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Shyam Metalics & Energy closed at ₹1,231.40 on 4 November 2026, up 43.1% from ₹860.55 a year earlier (7 November 2025) and up 245.5% over five years. Its highest weekly close since June 2021 was ₹1,231.40 on 4 November 2026.

Shyam Metalics & Energy share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

288 weekly closes from 25 June 2021 to 4 November 2026.

4 Nov 2026: Shyam Metalics & Energy closed at ₹1,231.40, up 5.9% on the week and up 17.5% on the month. Results for July to September 2026: Revenue up 33.4% and profit up 96.5% on a year earlier.

Earlier

• 7 Aug 2026: ex-date for a dividend of ₹2.70 a share.
• 24 Jul 2026: ex-date for an interim dividend of ₹1.80 a share.
• 21 Jul 2026: Shyam Metalics & Energy held its results call for April to June 2026. Management guided: FY27 consolidated revenue and operating profit growth above 20.0%.0% but public commitments remain prudent.

Shyam Metalics & Energy paid ₹4.50 a share in regular dividends in the 12 months to 5 November 2026 (2 payments), a yield of 0.37% at the ₹1,231.40 close on 4 November 2026. The last was a dividend of ₹2.70 a share, ex-date 7 August 2026.

Shyam Metalics & Energy dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. Shyam Metalics & Energy Ltd paid out 12% of its profit as dividends in FY26, and it paid a dividend in 6 of its last 9 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 21 July 2026, Shyam Metalics & Energy's management guided: FY27 consolidated revenue and operating profit growth above 20.0%.0% but public commitments remain prudent.

“Our own projections are higher than 25.0%, but we have been very prudent in our commitments; we prefer to share better surprises with our investors”Brij Bhushan Agarwal, on the call for April to June 2026

What management guided

• FY27 flat-products segment numbers expected to almost double; the commissioned color-coated expansion is the stated driver.
• Consolidated operating margin around 14.0-15.0% under the long-term roadmap.0-17.0%, or approximately 16.0%, as the overall ambition.
• Flat-roll commissioning is planned for Q2, aluminum regularization should take 3-4 months with meaningful value from Q3, iron-making facilities are due by end-Q2 or early Q3, and power plants in Q2.
• Announced Capital spending balance of approximately ₹9,580 crore to be deployed over the next 3-4 years, primarily through internal accruals.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 21 July 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

The changes showing up in Shyam Metalics & Energy's own numbers are costs spread over more sales. It is too early to say whether they last.

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Checked against results and calls up to April to June 2026, 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

Operating margin falling below 12% for two straight quarters while the foil, power and iron-making plants are counted as commissioned would mean the value-added layers are not lifting earnings, and the story becomes a commodity steel cycle with a large capital bill.

Each change stops working if

• Captive power and iron-making cost cut in H2 FY27: The power and iron-making units slip again past the December 2026 quarter, leaving higher depreciation and interest without the cost saving.
• Stainless and specialty long products (FY28-FY29 runway): The Sambalpur stainless date moves beyond March 2029 or the run-rate figure is cut back in a later call.

The main risks

• Moving dates and moving growth figures: FY27 growth guidance went 20-25% (Jan) to about 30% (May) to above 20% (Jul); foil, power and stainless flat dates have all slipped. ✓ fact
• Inventory and interest creeping up while the plants start: Inventory days rose from 100 to 123 in FY26 (about ₹4,500 crore of stock was raised by an analyst); quarterly interest rose from ₹51 crore to ₹78 crore. ✓ fact

Our read after the April to June 2026 results, written 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

When Shyam Metalics & Energy reports October to December 2026, these are the 5 checks that show whether the story is still on course. First: Operating margin stays at or above 13% in the September 2026 quarter (monsoon season, softer steel prices) while sales still grow over 20% on the year.

Shyam Metalics & Energy is on 4 of our India lists: Multibagger study list, Momentum stocks, Small & mid cap stocks and Copper & metal stocks.

Shyam Metalics & Energy Ltd earned ₹511 Cr of net profit in the Sep 2026 quarter, +96.5% on the same quarter a year earlier. That is the 6th quarter in a row of profit growth. Full-year FY26 profit was ₹1,060 Cr. Over 8 years profit has grown 9.1% a year on average. That is 8.6% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹260 Cr.

For the full year, FY26 profit was ₹1,060 Cr (+16.6% on the year before).

Why profit moved: revenue changed +33.4% on a year earlier and the margin moved +2.0 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed +39.9% and revenue +25.3%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

FY27-Q1. revenue ₹5,455 Cr and profit ₹351 Cr as reported.

FY27-Q2. revenue ₹5,960 Cr and profit ₹511 Cr as reported.

Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters.

Shyam Metalics & Energy Ltd reported ₹5,960 Cr of revenue in the Sep 2026 quarter, +33.4% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 8 years it has grown 22.1% a year on average. The last full year, FY26, came in at ₹18,552 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹21,076 Cr.

FY26 revenue was ₹18,552 Cr, +22.4% on the year before.

Recent pace: the last four quarters grew +25.3% on average, against 22.1% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +25.6%, against +22.0% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +41.7%, against +28.0% a year (accelerating).

FY27-Q1. revenue ₹5,455 Cr and profit ₹351 Cr as reported.

FY27-Q2. revenue ₹5,960 Cr and profit ₹511 Cr as reported.

Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters.

Shyam Metalics & Energy Ltd's operating margin was 14.0% in the Sep 2026 quarter, 2.0 percentage points higher than the same quarter a year ago. Across 9 years it has been between 12.0% and 25.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. This is the capex inflection point applied to cost rather than volume: the plants are near completion and their benefit lands on output that already exists. Captive power was first promised for the March 2026 quarter and has moved to the September 2026 quarter. Capital work in progress fell from Rs 3,780 crore at September 2025 to Rs 2,792 crore at March 2026 while fixed assets rose to Rs 8,134 crore, which shows projects moving into service. The same move is why depreciation rose to Rs 265 crore and interest to Rs 78 crore in the June quarter: costs that sat on the balance sheet during construction now pass through the profit line before the savings arrive.

Why the margin moved: operating margin changed +1.7 percentage points on the year while gross margin changed +2.2 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

FY27-Q1. revenue ₹5,455 Cr and profit ₹351 Cr as reported.

FY27-Q2. revenue ₹5,960 Cr and profit ₹511 Cr as reported.

Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters.

Over the last 3 years, 184% of Shyam Metalics & Energy Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹2,024 Cr of operating cash against ₹1,060 Cr of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

After ₹2,743 Cr of spending on assets, free cash was −₹719 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 184% of profit came in as cash: the cash cycle got 86 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 3.2× depreciation over three years. The next section checks what that spending is building.

Shyam Metalics & Energy Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 8 days in FY26, down from 94 days in FY21. It spent ₹7,095 Cr on assets over the last 3 years. Customers take 18 days to pay, and stock sits for 123 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

Why this happened. The colour-coated plant started in April 2026 and took cold-rolling capacity from 0.25 to 0.4 million tons. Flat-product EBITDA was Rs 8,500 per ton in the June quarter, below the Rs 10,000-11,000 per ton steady-state figure given in May, which is normal in a ramp quarter but is the number to track. Profit capture: about half of Indian steel consumption is rebar, so coated sheet competes with larger integrated mills on price; management itself said pricing can slip in slow periods. The benefit already delivered is the first quarter of the new line; most…

At FY26 sales of ₹18,552 Cr, each day of that cycle ties up about ₹50.8 Cr, so roughly ₹407 Cr is tied up in the business at any time.

FY26: customers took 18 days to pay and stock sat for 123 days, about 4.0 months of sales sitting as stock, for a full cycle of 8 days, shorter than FY21's 94.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 123 days. Customers pay about 18 days after that. Suppliers are paid at 133 days. Together that makes the 8-day cycle.

Spending on assets: ₹7,095 Cr over the last 3 years, against ₹2,249 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹2,792 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Shyam Metalics & Energy Ltd's P/E is 25.4×, near the high end of its own history: higher than 75% of past readings. Its usual P/E (the middle reading) is 18.4×, over 5.3 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Why the multiple is where it is: over the past year earnings per share moved +17.9% while the price moved +43.1%. The price did better than earnings, which pushed the multiple up within its own range.

Where the price move came from: over 5 years the price moved +28.1% a year; about +4.0% a year came from earnings growth and about +24.1 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple.

Shyam Metalics & Energy Ltd's business is getting better. Profit growth hit its low 6 quarters ago at −14.6% and has recovered to +41.7%, with ROCE steady at 14.5%. This is based on 12 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: a lasting rise from a low is what this page is built to show.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Shyam Metalics & Energy Ltd's story is not scored yet against the checks our research set on 10 October 2026. Where it sits in its own cycle: Not stated in the research file.

NOT YET CHECKED

What is proven. See the research file

What is not proven yet. Operating margin falling below 12% for two straight quarters while the foil, power and iron-making plants are counted as commissioned would mean the value-added layers are not lifting earnings, and the story becomes a commodity steel cycle with a large capital bill.

What would change our mind. Operating margin falling below 12% for two straight quarters while the foil, power and iron-making plants are counted as commissioned would mean the value-added layers are not lifting earnings, and the story becomes a commodity steel cycle with a large capital bill.

The test written in advance. Operating margin falling below 12% for two straight quarters while the foil, power and iron-making plants are counted as commissioned would mean the value-added layers are not lifting earnings, and the story becomes a commodity steel cycle with a large capital bill. Measured by: the thesis as written as stated by the next result.

What the company does. Revenue grew 23% and operating profit 32% year on year in the June 2026 quarter as the new colour-coated line and higher aluminium prices fed through. Each new plant adds a more valuable product layer, but the company keeps moving dates: foil, power, stainless flat and the FY27 growth figure have all shifted in the last three calls.

The key numbers to watch, and the level that would change the picture

Everything further down this page is evidence for or against these.

What the surface reading misses. The surface reading is: Free cash flow negative for four straight years: the business looks like it burns cash. The research reads it further: The cash is going into plants, not leaking.

Sources: our stock research file (10 October 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.

The whole page in one table. Each row links to its section.

What Shyam Metalics & Energy Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.

FY27 Growth Outlook Reduced · 21 July 2026. In May 2026, management described FY27 growth as close to 30%, whereas in July 2026 it stated that revenue and EBITDA should grow by more than 20%.

Stainless Steel Run-Rate Forecast Increased Without Reconciliation · 21 July 2026. In May 2026, management projected a stainless steel run rate of approximately INR300 crores per month within three years.

Stainless Steel Flat Product Plant - Commissioning Date Pushed to March 2029 · 12 May 2026. Both prior calls positioned the new large-scale flat-rolled stainless steel project as imminent: the Nov 2025 call explicitly guided for commissioning in financial year 27-28, while the Jan 2026 call stated the Odisha plant of more than 0.5 million tons would be ready by end of next year, implying FY27. The May 2026 call now presents what appears to be the same project under a new board approval (0.6 million tons at Sambalpur with added downstream capabilities) aiming for commissioning in March 2029 - a delay of 1 to 2 years from prior guidance with no explanation offered for the slip.

Annual Capex Deployment Rate Nearly Doubled and Completion Horizon Extended by 2-3 Years · 12 May 2026. The Nov 2025 call explicitly stated the capex program would be fully deployed by March 2027, and the Jan 2026 call guided a steady annual spending pace of INR1,500-1,800 crores over three years. The May 2026 call now reveals an annual capex rate of INR2,900-3,000 crores for FY27-FY28 - nearly double the Jan 2026 guidance - with additional spending extending into FY29-FY30, pushing the program completion 2-3 years beyond the March 2027 goal stated in Nov 2025. No explanation was provided for the accelerated pace or the materially extended capex cycle.

Every quote above is taken word for word from the company’s own earnings calls.

Shyam Metalics & Energy Ltd earned a ROCE of 13% in FY26. That is up from a low of 11% in FY20. Its return on capital used (ROIC) is 0.3 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses.

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

It comes from a 5.7% net margin and 0.92× asset turnover (sales divided by assets).

Why the return is what it is (FY26): a 5.7% net margin × 0.92× asset turnover × 1.74× leverage (assets divided by equity) ≈ 9.1% on equity. The margin does its share; borrowing is a big part of it.

The key test, return on capital used minus the cost of capital: 11.7% − 12.0% = −0.3 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve.

The 11.7% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 10.0%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.

Shyam Metalics & Energy Ltd has total debt of ₹1,005 Cr against shareholder equity of ₹12,357 Cr as of Jun 2026, so its debt is 0.08× its equity, which is very little. Year by year, that ratio went from 0.09 in FY22 to 0.08 in FY26. So the returns on this page come from the business, not from borrowed money.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

Domestic institutions raised their stake in Shyam Metalics & Energy Ltd by 5.0 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 11.2% of the company. Foreign institutions moved +1.8 points over the same period, to 5.3%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Domestic institutions: +5.0 points over 8 quarters, to 11.2%; Foreign institutions: +1.8 points over 8 quarters, to 5.3%; Promoters: +0.0 points over 8 quarters, to 74.6%.

Why the owners changed: domestic institutions drove it (+5.0 points), together with foreign institutions (+1.8 points). They raised their stake step by step.

For Shyam Metalics & Energy Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

73.3 out of 100, rank 3 of 16 in Steel Products, with 100% of the evidence available.

Shyam Metalics & Energy Ltd scores 73.3 out of 100 against the 16 companies it is compared with in Steel Products, ranking 3. Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks.

The four parts add up to the total exactly: 28.6 + 17.4 + 8.6 + 18.7 = 73.3. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Shyam Metalics & Energy ranks 3 of 16 Steel Products companies on the 4-Factor Sector Score, with 73.3 out of 100.