Shyam Metalics Earns CRISIL ‘AA+’ Rating, Highest Among Industry Peers
Steel

Shyam Metalics Earns CRISIL ‘AA+’ Rating, Highest Among Industry Peers

Shyam Metalics and Energy, one of India’s leading integrated multi-metal producers, has received an upgraded long-term credit rating of ‘CRISIL AA+/Stable’ from ‘CRISIL AA/Positive’, with the short-term rating reaffirmed at ‘CRISIL A1+’—the highest level of short-term creditworthiness. The upgrade reflects the Group’s strong business risk profile, diversified operations, and sustained financial strength.

Broad-Based Growth and Diversification: Shyam Metalics has continued to scale its steel, ferro alloys, and power businesses while expanding into flat products, pig iron, aluminium, and stainless steel. Ongoing capacity expansions will further enhance scale, integration, and product diversity.

Higher Share of Value-Added Products: The Company is accelerating its transition toward finished and high-margin value-added products, supported by deeper integration across the steel value chain.

Operational Integration and Cost Efficiency: SMEL operates a fully integrated production model—from raw materials to finished steel—supported by captive power, waste heat recovery, coal washery, and in-house logistics. Captive and WHR power meet nearly 80% of energy needs at a cost of under Rs 3 per unit, ensuring strong margins and protection from input volatility.

With a healthy capital structure, strong internal accruals, and conservative leverage, the Group continues to fund expansions prudently while maintaining robust liquidity.

Efficient operations, an improving product mix, and disciplined cost management continue to support strong cash flow and profitability metrics. Upcoming capacity additions and entry into higher-value segments are expected to further strengthen earnings quality.

SMEL’s governance framework is supported by an experienced Board, a strong team of independent directors, and engagement with reputed statutory, internal, and secretarial auditors—ensuring transparency, compliance, and long-term value creation.

Commenting on the upgrade, Brij Bhushan Agarwal, Chairman & Managing Director, Shyam Metalics & Energy, said, “We are delighted with CRISIL’s recognition of our financial and operational resilience. The ‘CRISIL AA+’ upgrade underscores the strength of our fundamentals, disciplined capital allocation, and consistent value creation. This milestone reinforces our commitment to maintaining a strong balance sheet while executing our strategic expansion plans with responsible corporate governance.”

Shyam Metalics and Energy, one of India’s leading integrated multi-metal producers, has received an upgraded long-term credit rating of ‘CRISIL AA+/Stable’ from ‘CRISIL AA/Positive’, with the short-term rating reaffirmed at ‘CRISIL A1+’—the highest level of short-term creditworthiness. The upgrade reflects the Group’s strong business risk profile, diversified operations, and sustained financial strength.Broad-Based Growth and Diversification: Shyam Metalics has continued to scale its steel, ferro alloys, and power businesses while expanding into flat products, pig iron, aluminium, and stainless steel. Ongoing capacity expansions will further enhance scale, integration, and product diversity.Higher Share of Value-Added Products: The Company is accelerating its transition toward finished and high-margin value-added products, supported by deeper integration across the steel value chain.Operational Integration and Cost Efficiency: SMEL operates a fully integrated production model—from raw materials to finished steel—supported by captive power, waste heat recovery, coal washery, and in-house logistics. Captive and WHR power meet nearly 80% of energy needs at a cost of under Rs 3 per unit, ensuring strong margins and protection from input volatility.With a healthy capital structure, strong internal accruals, and conservative leverage, the Group continues to fund expansions prudently while maintaining robust liquidity.Efficient operations, an improving product mix, and disciplined cost management continue to support strong cash flow and profitability metrics. Upcoming capacity additions and entry into higher-value segments are expected to further strengthen earnings quality.SMEL’s governance framework is supported by an experienced Board, a strong team of independent directors, and engagement with reputed statutory, internal, and secretarial auditors—ensuring transparency, compliance, and long-term value creation.Commenting on the upgrade, Brij Bhushan Agarwal, Chairman & Managing Director, Shyam Metalics & Energy, said, “We are delighted with CRISIL’s recognition of our financial and operational resilience. The ‘CRISIL AA+’ upgrade underscores the strength of our fundamentals, disciplined capital allocation, and consistent value creation. This milestone reinforces our commitment to maintaining a strong balance sheet while executing our strategic expansion plans with responsible corporate governance.”

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