Shyam Metalics & Energy Ltd
SHYAMMETLShyam Metalics & Energy Ltd's earnings have outrun its stock. EPS grew +17.9% in a year against a +17.1% price move.
The sharpest disagreement: the engine is strong, but at the 87th percentile of its own range you are paying full price for it.
The price is in a confirmed uptrend (16 weeks in) while the P/E sits at the 87th percentile of its own 5-year range. Underneath, the last four quarters read improving — profit +20.6% year on year, and 184% of the last 3 years' profit arrived as cash. What settles it: whether the earnings grow into the multiple.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Shyam Metalics & Energy Ltd trades at ₹1,075, in a confirmed uptrend and 16 weeks into that stage. That is +14.6% against its own 200-day average. It sits at 92% of a 52-week range of ₹770 to ₹1,100. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 3 straight weeks.
Today the stock is in a confirmed uptrend — week 16 of stage 2, confirmed. At ₹1,075 it trades +14.6% versus its 200-day average and sits at 92% of its 52-week range (₹770–₹1,100).
Against the market, two honest reads. Cumulative: over the last 5.2 years the stock moved +176% while the NIFTY 500 moved +70% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 3 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Story check
Shyam Metalics & Energy Ltd's story is not scored yet against the markers our research file set on 14 June 2026. Where it sits in its own cycle: Not stated in the research file. Still open: Stainless project slipped 1–2 years across 3 consecutive calls; capex rate doubled without explanation.
What is proven. See the research file
What is not proven yet. Stainless project slipped 1–2 years across 3 consecutive calls; capex rate doubled without explanation.
Layer 1 read, 19 July 2026 — KEEP. Real operating turn on the cold-rolled ramp, but the stock already prices the recovery — expensive cyclical, not a fresh setup.
What would change Layer 1’s mind. OPM sustained below 11% for three consecutive quarters (falsification (a)) or net debt/equity breaching the stated 0.5x ceiling during the capex build (M4) would flip this from expensive-but-improving to a contracting commodity trap and toward DROP; conversely, a genuine multiple compression back below the 40th percentile while EBITDA/ton holds would re-open a real entry.
Layer 2 read, 19 July 2026 — BENCH. The inflection is real: Q4 profit rose 42% and margins expanded 220bps to 14% on a CR-coil volume ramp of +200%, which is why this is not a value trap and not a DROP. But at a -43.7% margin-of-safety [critical_signals.mos, a DCF/model estimate] the recovery is already in the price, capex guidance was near-doubled without explanation — the proven management-contradiction pattern — and the steel capital cycle is merely NEUTRAL with institutions absent, so there is no offsetting positive to justify overriding the extreme valuation.
What would change Layer 2’s mind. Two consecutive quarters holding OPM at/above 14% AND a credible, quantified explanation for the doubled capex guidance (or the stainless line finally commissioning on schedule) — proving the inflection is structural rather than a cyclical steel-price peak — would flip BENCH->ADVANCE despite the MoS.
🚨 What the surface reading misses. The surface reading is: OCF > PAT — high cash conversion The research reads it further: OCF exceeds PAT because depreciation (₹882 Cr FY26) is added back but capex (₹2,743 Cr FY26) is not deducted from OCF — the business generates cash from operations but is in a heavy growth-capex phase that makes FCF deeply negative (-₹719 Cr FY26). OCF/PAT > 1.0 confirms operating earnings are real; FCF < 0 confirms the company is in a reinvestment mode.
🚨 What the surface reading misses. The surface reading is: PE at 80th percentile → expensive, near peak re-rating The research reads it further: cycle_normalized verdict = FAIRLY_PRICED: normalized PE adjusting for mid-cycle OPM is 20.9x at 61st percentile (Δ19 percentile points lower than trailing). OPM currently 13.9% vs mid-cycle 13.1% — only 5.7% above mid-cycle, not at peak. The surface read overstates expensiveness; the trailing EPS is not cyclically depressed but is also not cyclically inflated (OPM 56th %ile of own history).
Sources: our stock research file (14 June 2026) · quarterly results through Jun 26 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Shyam Metalics & Energy Ltd reported ₹5,455 Cr of revenue in the Jun 26 quarter, +23.4% year on year. That is the 11th straight quarter of year-on-year growth. Over 8 years it has compounded at 22.1% a year. The last full year, FY26, came in at ₹18,552 Cr. The last four reported quarters add to ₹19,583 Cr.
Why this happened. CRM Phase 2 commissioned Q4FY26 with Galvalume line. CR coil volume surged 200% YoY to 50,344 tons in Q4. Color-coated volume targeted to 'almost double' YoY in FY27. EBITDA per ton target ₹10,000–11,000 at steady-state for CRM. Each volume doubling at flat cost base delivers operating leverage to the OPM line.
FY26 revenue came in at ₹18,552 Cr (+22.4% on the year), capping 8 years at 22.1% compound. The latest quarter (Jun 26) printed ₹5,455 Cr, +23.4% year on year — the 11th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +22.6% growth against the decade's 22.1% — the current year is running in line with its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +22.8% over the last 4 quarters against +20.6%/yr over the last 8 — stabilising; TTM profit +21.3% vs +0.8%/yr — accelerating.
FY26-Q4. revenue ₹5,240 Cr and profit ₹312 Cr as reported.
FY27-Q1. revenue ₹5,455 Cr and profit ₹351 Cr as reported.
Why-sources: our stock research file (14 June 2026) and the company’s own results for those quarters.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Shyam Metalics & Energy Ltd's operating margin is 14.0% in the Jun 26 quarter, +1.0 percentage points against the same quarter a year ago. Across 9 fiscal years the operating margin has ranged 12.0% to 25.0%. The current quarter sits inside that band.
Why this happened. Volume growth at +22% YoY against a fixed depreciation base (₹882 Cr FY26, elevated from capex) absorbs fixed costs more efficiently per ton. Q3→Q4 sequential OPM recovery from 12.2% to 14.4% was partially attributed to 26% volume growth absorbing fixed costs. Interest expense stable at ₹40–51 Cr/quarter despite higher debt — borrowings cost managed.
The latest quarter's operating margin is 14.0%, +1.0 pp against the same quarter a year ago. Across 9 fiscal years the operating margin has ranged 12.0%–25.0%.
Why the margin moved: operating margin went +0.9 pp year on year while gross margin went +0.5 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
FY26-Q4. revenue ₹5,240 Cr and profit ₹312 Cr as reported.
FY27-Q1. revenue ₹5,455 Cr and profit ₹351 Cr as reported.
Why-sources: our stock research file (14 June 2026) and the company’s own results for those quarters.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Shyam Metalics & Energy Ltd earned ₹351 Cr of net profit in the Jun 26 quarter, +20.6% year on year. It is the 5th consecutive quarter of growth. Full-year FY26 profit was ₹1,060 Cr. The 8-year compound rate is 9.1%. That is 6.4% of the quarter's revenue. The same quarter a year earlier earned ₹291 Cr.
Jun 26 profit was ₹351 Cr, +20.6% year on year — the 5th consecutive quarter of growth. On the full year, FY26 printed ₹1,060 Cr (+16.6%), and the 8-year compound rate is 9.1%.
Why profit moved: revenue contributed +23.4% and the margin +1.0 pp — the quarter was revenue-led, with the margin roughly flat.
Pace comparison, last four quarters: profit +20.8% vs revenue +22.6%. Profit and revenue are moving roughly in step.
FY26-Q4. revenue ₹5,240 Cr and profit ₹312 Cr as reported.
FY27-Q1. revenue ₹5,455 Cr and profit ₹351 Cr as reported.
Why-sources: our stock research file (14 June 2026) and the company’s own results for those quarters.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 184% of Shyam Metalics & Energy Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹2,024 Cr of operating cash against ₹1,060 Cr of profit. After ₹2,743 Cr of capital spending, ₹−719 Cr was left as free cash.
FY26: operating cash of ₹2,024 Cr against reported profit of ₹1,060 Cr, leaving free cash of ₹−719 Cr after ₹2,743 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 184% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 184%: the cash cycle tightened 86 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.
Router verdict: the bigger cash user is investment — capital spending ran 3.2× depreciation over three years, so the next section's job is to check what that build-out is buying.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Shyam Metalics & Energy Ltd's cash conversion cycle runs 8 days in FY26, down from 94 days in FY21. Capital spending ran ₹7,095 Cr over the last 3 years. At FY26 sales of ₹18,552 Cr each day of that cycle holds about ₹50.8 Cr, so roughly ₹407 Cr sits inside the business at any moment.
FY26: debtors at 18 days, inventory at 123 days — roughly 4.0 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 8 days, tighter than FY21's 94.
The full loop: cash goes out to suppliers and production on day 0; stock waits 123 days to sell; customers pay about 18 days after that; and suppliers themselves are paid at 133 days — netting out to the 8-day cycle.
In money terms: at FY26 sales of ₹18,552 Cr, each day of the cycle holds about ₹50.8 Cr — so the 8-day loop keeps roughly ₹407 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹7,095 Cr over the last 3 fiscal years against ₹2,249 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹2,792 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Shyam Metalics & Energy Ltd earns a ROCE of 13% in FY26. That is up from a trough of 11% in FY20. Return on invested capital clears the cost of that capital by −3.0 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 5.7% net margin on 0.92× asset turns.
FY26 ROCE is 13%, recovered from a FY20 trough of 11% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 5.7% net margin × 0.92× asset turns × 1.74× balance-sheet leverage ≈ 9.1% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 9.0% − 12.0% = a −3.0 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Shyam Metalics & Energy Ltd carries total debt of ₹1,005 Cr against shareholder equity of ₹12,357 Cr as of Jun 26, a debt-to-equity of 0.08 — effectively unlevered. On the annual view that ratio went from 0.09 in FY22 to 0.08 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Jun 26: total debt of ₹1,005 Cr against shareholder equity of ₹12,357 Cr — a debt-to-equity of 0.08. On the annual view, debt-to-equity went from 0.09 (FY22) to 0.08 (FY26). The returns on this page are earned, not borrowed.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Domestic institutions added 8.4 points of Shyam Metalics & Energy Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 13.8% of the company. Foreign institutions moved +0.7 points over the same window, to 3.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +8.4 points over 8 quarters to 13.8%; Foreign institutions: +0.7 points over 8 quarters to 3.0%; Promoters: +0.0 points over 8 quarters to 74.6%.
Why the register moved: domestic institutions drove it (+8.4 points), alongside foreign institutions (+0.7 points) — steady accumulation by institutions reading the same numbers this page reads.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Shyam Metalics & Energy Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Shyam Metalics & Energy Ltd trades at 26.7× P/E, at the pricey end of its own range (87th percentile). Its long-run median P/E is 17.5×, measured across 5.2 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 26.7× is at the pricey end of its own range (87th percentile), against a long-run median of 17.5× measured over 5.2 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +17.9% against a +17.1% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +21.4%/yr price move, ~+2.2%/yr came from earnings growth and ~+19.2 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Shyam Metalics & Energy Ltd reads as mixed on its fundamental arc. Mixed — the growth curves are steadily positive, but ROCE at 14.5% is below the 15% bar this page requires to call it Consistent. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +22.4% | +13.6% | +24.1% | — |
| Profit | +16.6% | +7.9% | +4.7% | — |
| EPS | +17.9% | +4.7% | +1.2% | — |
| Share price | +17.1% | +32.0% | +21.4% | — |
4-Factor Sector Score
67.0/100 — rank 4 of 18 in Steel Products · 100% evidence confidence
Shyam Metalics & Energy Ltd scores 67.0 out of 100 against the 18 companies it is compared with in Steel Products, ranking 4. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 26.1 + 15.1 + 11.8 + 14 = 67. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Said versus delivered
What Shyam Metalics & Energy Ltd's management promised, set against what actually arrived — 4 tracked 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%. Management cited its preference for prudent commitments, but did not reconcile why the previously stated FY27 expectation had been reduced; the change is material for a valuation model.
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. In July 2026, management projected a run rate of INR600-700 crores once the new plant reaches 70-80% capacity, but did not explain whether the project scope, capacity assumptions, or measurement basis had changed; this materially affects revenue and valuation models.
🚨 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) targeting 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 target 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.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Raghav Productivity Enhancers LtdRPEL | 75.5/100Favorable setup100% evidence | LEADER | 32.0/35 Revenue 34.3% · PAT 53.7% · OPM change 3 pp 100% evidence | 19.5/25 ROCE 30.3% · OPM 30% 100% evidence | 4.0/20 P/E 135× · PEG 2.31 100% evidence | 20.0/20 RS sector 65.4% · RS bench 94.3% · 1Y 179.2%12 of 12 weeks ahead 100% evidence |
| Exact sum: 32 + 19.5 + 4 + 20 = 75.5 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 2Vardhman Special Steels LtdVSSL | 75.3/100Favorable setup100% evidence | LEADER | 26.5/35 Revenue 1.3% · PAT 65.5% · OPM change 5 pp 100% evidence | 14.7/25 ROCE 15.3% · OPM 12% 100% evidence | 15.8/20 P/E 26.8× · PEG 0.52 100% evidence | 18.3/20 RS sector 19.6% · RS bench 42.9% · 1Y 52.8%12 of 12 weeks ahead 100% evidence |
| Exact sum: 26.5 + 14.7 + 15.8 + 18.3 = 75.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3Kamdhenu LtdKAMDHENU | 71.6/100Favorable setup87% evidence | LEADER | 20.7/35 Revenue 2.9% · PAT 30.3% · OPM change -1 pp 95% evidence | 19.5/25 ROCE 29.5% · OPM 10% 95% evidence | 12.9/20 P/E 12.9× · PEG — 50% evidence | 18.5/20 RS sector 24.6% · RS bench 47.9% · 1Y 38.4%12 of 12 weeks ahead 100% evidence |
| Exact sum: 20.7 + 19.5 + 12.9 + 18.5 = 71.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Shyam Metalics & Energy Ltdthis pageSHYAMMETL | 67.0/100Favorable setup100% evidence | LEADER | 26.1/35 Revenue 22.8% · PAT 21.3% · OPM change 1 pp 100% evidence | 15.1/25 ROCE 13% · OPM 14% 100% evidence | 11.8/20 P/E 26.7× · PEG 1.19 100% evidence | 14.0/20 RS sector 1.3% · RS bench 21% · 1Y 15.7%11 of 12 weeks ahead 100% evidence |
| Exact sum: 26.1 + 15.1 + 11.8 + 14 = 67 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5BMW Industries Ltd542669 | 58.1/100Mixed-positive evidence82% evidence | ASLEEP | 17.0/35 Revenue 5.9% · PAT 8% · OPM change -1 pp 95% evidence | 15.4/25 ROCE 12.4% · OPM 20% 76% evidence | 13.6/20 P/E 14.4× · PEG — 50% evidence | 12.1/20 RS sector 4.3% · RS bench 23.4% · 1Y 11.6%6 of 12 weeks ahead 100% evidence |
| Exact sum: 17 + 15.4 + 13.6 + 12.1 = 58.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Kalyani Steels LtdKSL | 55.8/100Mixed-positive evidence100% evidence | TURNING | 11.9/35 Revenue -4.9% · PAT 0% · OPM change 1 pp 100% evidence | 15.8/25 ROCE 14.8% · OPM 20% 100% evidence | 12.3/20 P/E 15.6× · PEG 1.01 100% evidence | 15.8/20 RS sector 3.7% · RS bench 23.8% · 1Y 19.3%7 of 12 weeks ahead 100% evidence |
| Exact sum: 11.9 + 15.8 + 12.3 + 15.8 = 55.8 · Decision use: Price leads the evidence: RS versus the benchmark is 23.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 7Steel Exchange India LtdSTEELXIND | 47.3/100Mixed-negative evidence80% evidence | TURNING | 11.8/35 Revenue -12.8% · PAT -8.8% · OPM change 3 pp 95% evidence | 10.3/25 ROCE 10.9% · OPM 13% 95% evidence | 9.6/20 P/E 48.7× · PEG — 15% evidence | 15.6/20 RS sector 4.9% · RS bench 24.5% · 1Y 31.1%7 of 12 weeks ahead 100% evidence |
| Exact sum: 11.8 + 10.3 + 9.6 + 15.6 = 47.3 · Decision use: Price leads the evidence: RS versus the benchmark is 24.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 8Sunflag Iron & Steel Company LtdSUNFLAG | 46.7/100Mixed-negative evidence100% evidence | ASLEEP | 18.0/35 Revenue 9% · PAT 4.6% · OPM change -1 pp 100% evidence | 8.6/25 ROCE 4.1% · OPM 11% 100% evidence | 11.2/20 P/E 28.6× · PEG 0.65 100% evidence | 8.9/20 RS sector -1.2% · RS bench 16.9% · 1Y 25.5%6 of 12 weeks ahead 100% evidence |
| Exact sum: 18 + 8.6 + 11.2 + 8.9 = 46.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9Panchmahal Steel LtdPANCHMAHQ | 45.2/100Mixed-negative evidence61% evidence | 17.2/35 Revenue 4.9% · PAT 100% · OPM change 8.9 pp 71% evidence | 5.1/25 ROCE 3.1% · OPM 8.7% 76% evidence | 9.3/20 P/E 134× · PEG — 15% evidence | 13.6/20 RS sector 36.8% · RS bench -0.5% · 1Y 9.5%10 of 12 weeks ahead 70% evidence | |
| Exact sum: 17.2 + 5.1 + 9.3 + 13.6 = 45.2 · Decision use: Price leads the evidence: RS versus the benchmark is -0.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 10Asgard Alcobev Ltd512025 | 43.2/100Mixed-negative evidence69% evidence | TURNING | 20.4/35 Revenue 68.3% · PAT 33.1% · OPM change 2.3 pp 95% evidence | 6.6/25 ROCE 7.4% · OPM 9.7% 76% evidence | 8.5/20 P/E 420× · PEG — 15% evidence | 7.7/20 RS sector -1.1% · RS bench -17.4% · 1Y -36.9%0 of 10 weeks ahead 70% evidence |
| Exact sum: 20.4 + 6.6 + 8.5 + 7.7 = 43.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 11Jindal Steel LtdJINDALSTEL | 41.4/100Mixed-negative evidence100% evidence | ASLEEP | 12.9/35 Revenue 16.5% · PAT -9.8% · OPM change -7 pp 100% evidence | 10.5/25 ROCE 9.7% · OPM 17% 100% evidence | 11.4/20 P/E 37× · PEG 1.09 100% evidence | 6.6/20 RS sector -15.4% · RS bench 1.7% · 1Y 8.3%0 of 12 weeks ahead 100% evidence |
| Exact sum: 12.9 + 10.5 + 11.4 + 6.6 = 41.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12Beekay Steel Industries LtdBEEKAY | 39.6/100Mixed-negative evidence81% evidence | TURNING | 14.4/35 Revenue 13.9% · PAT -51.1% · OPM change 5 pp 95% evidence | 9.0/25 ROCE 4.2% · OPM 11% 95% evidence | 8.0/20 P/E 18.6× · PEG — 50% evidence | 8.2/20 RS sector -12.3% · RS bench 2.1% · 1Y -12.9%3 of 8 weeks ahead 70% evidence |
| Exact sum: 14.4 + 9 + 8 + 8.2 = 39.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13Prakash Industries LtdPRAKASH | 39.1/100Mixed-negative evidence87% evidence | ASLEEP | 11.4/35 Revenue -10.6% · PAT -12.1% · OPM change 1 pp 95% evidence | 10.4/25 ROCE 9.6% · OPM 14% 95% evidence | 13.5/20 P/E 7× · PEG — 50% evidence | 3.8/20 RS sector -25% · RS bench -9.8% · 1Y -23.6%2 of 12 weeks ahead 100% evidence |
| Exact sum: 11.4 + 10.4 + 13.5 + 3.8 = 39.1 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 14Gallantt Ispat Ltd.GALLANTT | 35.3/100Mixed-negative evidence100% evidence | BASING | 9.4/35 Revenue 4.2% · PAT -3.8% · OPM change -6 pp 100% evidence | 17.0/25 ROCE 18.2% · OPM 16% 100% evidence | 6.6/20 P/E 30.2× · PEG 1.66 100% evidence | 2.3/20 RS sector -25.4% · RS bench -10.7% · 1Y -14.6%2 of 12 weeks ahead 100% evidence |
| Exact sum: 9.4 + 17 + 6.6 + 2.3 = 35.3 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression. | ||||||
| 15Rhetan TMT LtdRHETAN | 33.7/100Adverse evidence93% evidence | ASLEEP | 18.5/35 Revenue 2.6% · PAT 100% · OPM change -28.4 pp 100% evidence | 8.6/25 ROCE 11% · OPM -16.3% 100% evidence | 3.9/20 P/E 151× · PEG 3.94 65% evidence | 2.7/20 RS sector -20.7% · RS bench -5% · 1Y 25.1%3 of 12 weeks ahead 100% evidence |
| Exact sum: 18.5 + 8.6 + 3.9 + 2.7 = 33.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 16Salasar Techno Engineering LtdSALASAR | 27.0/100Adverse evidence87% evidence | ASLEEP | 9.0/35 Revenue 4% · PAT -44.5% · OPM change -2.5 pp 95% evidence | 9.3/25 ROCE 8.1% · OPM 7.4% 95% evidence | 8.4/20 P/E 64.4× · PEG — 50% evidence | 0.3/20 RS sector -45.3% · RS bench -33.4% · 1Y -35.3%0 of 12 weeks ahead 100% evidence |
| Exact sum: 9 + 9.3 + 8.4 + 0.3 = 27 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 17Electrotherm (India) LtdELECTHERM | 23.3/100Adverse evidence71% evidence | ASLEEP | 3.6/35 Revenue -3% · PAT -80% · OPM change -3.8 pp 95% evidence | 2.5/25 ROCE 0.5% · OPM 2.5% 95% evidence | 10.0/20 P/E — · PEG — 0% evidence | 7.2/20 RS sector -28.4% · RS bench 8.5% · 1Y 9.9%8 of 10 weeks ahead 70% evidence |
| Exact sum: 3.6 + 2.5 + 10 + 7.2 = 23.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 18Banganga Paper Industries LtdBANGANGA | 45.8/100Thin evidence · provisional45% evidence | 19.8/35 Revenue 100% · PAT 100% · OPM change -2 pp 40% evidence | 13.8/25 ROCE 27% · OPM 5.7% 57% evidence | 8.7/20 P/E 347× · PEG — 15% evidence | 3.5/20 RS sector -28.9% · RS bench -32.7% · 1Y -24.9%8 of 12 weeks ahead to 2026-03-08 70% evidence | |
| Exact sum: 19.8 + 13.8 + 8.7 + 3.5 = 45.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Shyam Metalics & Energy Ltd's share price today?
Shyam Metalics & Energy Ltd trades at ₹1,075, +17.1% over the past year. The company is valued at ₹30,001 Cr. The stock sits at 92% of its 52-week range of ₹770–₹1,100, +14.6% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 16 weeks in. — as of 11 September 2026.
What were Shyam Metalics & Energy Ltd's latest quarterly results?
Shyam Metalics & Energy Ltd reported revenue of ₹5,455 Cr and net profit of ₹351 Cr for the Jun 26 quarter. Revenue rose 23.4% and profit rose 20.6% year on year. Earnings per share were ₹12.36. The operating margin was 14.0%, 1.0 pp higher than a year earlier. — as of 11 September 2026.
What is Shyam Metalics & Energy Ltd's revenue?
Shyam Metalics & Energy Ltd reported revenue of ₹5,455 Cr in the Jun 26 quarter, +23.4% year on year. For the full FY26 fiscal year, revenue was ₹18,552 Cr (+22.4%). Over the last 8 years revenue compounded at 22.1% a year. — as of 11 September 2026.
What is Shyam Metalics & Energy Ltd's profit?
Shyam Metalics & Energy Ltd earned ₹351 Cr of net profit in the Jun 26 quarter, +20.6% year on year — the 5th straight quarter of growth. Full-year FY26 profit was ₹1,060 Cr. The operating margin ran 14.0% in the latest quarter. — as of 11 September 2026.
What is Shyam Metalics & Energy Ltd's market cap?
Shyam Metalics & Energy Ltd's market capitalisation is ₹30,001 Cr at a share price of ₹1,075. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.
What is Shyam Metalics & Energy Ltd's P/E ratio?
Shyam Metalics & Energy Ltd trades at a P/E of 26.7×, at the 87th percentile of its own 5-year range, against a long-run median of 17.5×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.
Does Shyam Metalics & Energy Ltd pay a dividend?
Yes — Shyam Metalics & Energy Ltd's dividend payout was 12% of profit in FY26, and it recorded a payout in 6 of its last 9 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.
Is Shyam Metalics & Energy Ltd overvalued?
On its own history, Shyam Metalics & Energy Ltd looks expensive: its P/E of 26.7× sits at the 87th percentile of its 5-year range (long-run median 17.5×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.
Is Shyam Metalics & Energy Ltd growing?
Yes — Shyam Metalics & Energy Ltd is growing: latest-quarter revenue +23.4% year on year, profit +20.6%, and the margin +1.0 pp at 14.0%. The 8-year compound rates are 22.1% (revenue) and 9.1% (profit). The earnings engine currently reads: improving — as of 11 September 2026.
How is Shyam Metalics & Energy Ltd performing?
Shyam Metalics & Energy Ltd is in a confirmed uptrend, 16 weeks in. Its latest quarter's revenue rose 23.4% and profit rose 20.6% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 3 weeks. This describes what the data did, not a rating. — as of 11 September 2026.
What stage is Shyam Metalics & Energy Ltd in?
Mixed — the growth curves are steadily positive, but ROCE at 14.5% is below the 15% bar this page requires to call it Consistent. The read comes from the last 12 quarters of growth (revenue growth +22.8% latest, profit growth +21.3% latest, eps growth +21.5% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.
Is Shyam Metalics & Energy Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 16 of stage 2), trading +14.6% versus its 200-day average and at 92% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.
Is Shyam Metalics & Energy Ltd beating the market?
On recent form, yes — Shyam Metalics & Energy Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 3 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 5.2 years the stock moved +176% against the NIFTY 500's +70% — ahead of the index over the full window. — as of 11 September 2026.
Will Shyam Metalics & Energy Ltd's share price go up?
This page publishes no price forecast for Shyam Metalics & Energy Ltd. What it measures instead: the share price is ₹1,075, the price is in a confirmed uptrend 16 weeks in. Its P/E of 26.7× sits at the 87th percentile of its own 5-year range. — as of 11 September 2026.
Who owns Shyam Metalics & Energy Ltd?
Promoters hold 74.6% of Shyam Metalics & Energy Ltd, foreign institutions 3.0%, domestic institutions 13.8% and the public 8.4% (latest quarter). The biggest move on the register over the last two years: Domestic institutions added 8.4 points over 8 quarters. — as of 11 September 2026.
Does Shyam Metalics & Energy Ltd have too much debt?
No — Shyam Metalics & Energy Ltd's debt-to-equity is 0.09, and operating profit covers the interest bill 12×. FY26 borrowings were ₹1,005 Cr against equity of ₹11,523 Cr. The returns on this page are earned, not borrowed — as of 11 September 2026.
What is Shyam Metalics & Energy Ltd's capex?
Shyam Metalics & Energy Ltd spent ₹7,095 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹2,743 Cr, with ₹2,792 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.
What is Shyam Metalics & Energy Ltd's cash flow?
Shyam Metalics & Energy Ltd generated ₹2,024 Cr of operating cash flow in FY26 and ₹−719 Cr of free cash flow after ₹2,743 Cr of capital spending. Reported profit that year was ₹1,060 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 11 September 2026.
Is Shyam Metalics & Energy Ltd's profit real cash?
Yes — over the last 3 fiscal years, 184% of Shyam Metalics & Energy Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹2,024 Cr against reported profit of ₹1,060 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 11 September 2026.
Where is Shyam Metalics & Energy Ltd in its business cycle?
Shyam Metalics & Energy Ltd's FY26 operating margin was 13.0%, against a 9-year band of 12.0%–25.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran 14.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.
What could break the Shyam Metalics & Energy Ltd story?
The sharpest disagreement: the engine is strong, but at the 87th percentile of its own range you are paying full price for it. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.
Is Shyam Metalics & Energy Ltd a stock worth studying right now?
This is not investment advice. The machine read: Shyam Metalics & Energy Ltd's earnings have outrun its stock. EPS grew +17.9% in a year against a +17.1% price move. The sharpest open question: whether the earnings grow into the multiple. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.
Not SEBI Registered !! Not Investment advice !!