Kolkata, January 6, 2026 –
Shyam Metalics and Energy Limited (SMEL) reported a mixed sales performance for December 2025 and the third quarter of FY26, marked by strong sequential growth in stainless steel, speciality alloys, CR coils, sponge iron, and HR tubes, while carbon steel, pellets, aluminium foil, and pig iron faced volume moderation across select periods.
The company’s diversified product portfolio helped offset softness in certain segments, with capacity-led gains in value-added products continuing to support overall operations.
Stainless Steel Performance
Stainless steel remained one of the strongest contributors during the month, supported by a sharp rise in sequential volumes and improved realizations.
Stainless Steel Sales Snapshot
| Particulars | Dec FY26 | Dec FY25 | YoY Change | Nov FY26 | MoM Change | Q3 FY26 | Q2 FY26 | QoQ Change |
|---|
| Quantity (MT) | 9,393 | 7,889 | 19.07% | 6,518 | 44.11% | 22,282 | 24,720 | -9.86% |
| Avg Realisation (₹/MT) | 1,44,988 | 1,22,681 | 18.18% | 1,42,442 | 1.79% | 1,42,079 | 1,31,029 | 8.43% |
Sequential growth was strong, though quarterly volumes declined on a higher base, while pricing improved quarter-on-quarter.
Aluminium Foil Performance
Aluminium foil volumes declined across monthly and quarterly comparisons, but realizations improved on a year-on-year and month-on-month basis.
Aluminium Foil Sales Snapshot
| Particulars | Dec FY26 | Dec FY25 | YoY Change | Nov FY26 | MoM Change | Q3 FY26 | Q2 FY26 | QoQ Change |
|---|
| Quantity (MT) | 1,820 | 1,910 | -4.69% | 1,926 | -5.47% | 5,115 | 5,274 | -3.01% |
| Avg Realisation (₹/MT) | 3,82,411 | 3,56,235 | 7.35% | 3,72,339 | 2.71% | 3,78,147 | 3,88,570 | -2.68% |
Pellet Segment
Pellet volumes declined sequentially and on a quarterly basis, while realizations remained resilient.
Pellet Sales Snapshot
| Particulars | Dec FY26 | Dec FY25 | YoY Change | Nov FY26 | MoM Change | Q3 FY26 | Q2 FY26 | QoQ Change |
|---|
| Quantity (MT) | 85,413 | 87,114 | -1.95% | 1,02,561 | -16.72% | 2,78,684 | 3,07,816 | -9.46% |
| Avg Realisation (₹/MT) | 9,170 | 8,687 | 5.55% | 9,021 | 1.65% | 9,156 | 9,079 | 0.85% |
Speciality Alloys Performance
Speciality alloys delivered strong year-on-year and sequential volume growth, though realizations softened marginally on a quarterly basis.
Speciality Alloys Sales Snapshot
| Particulars | Dec FY26 | Dec FY25 | YoY Change | Nov FY26 | MoM Change | Q3 FY26 | Q2 FY26 | QoQ Change |
|---|
| Quantity (MT) | 21,759 | 14,502 | 50.05% | 19,432 | 11.98% | 57,381 | 54,133 | 6.00% |
| Avg Realisation (₹/MT) | 92,423 | 89,628 | 3.12% | 93,619 | -1.28% | 93,054 | 95,253 | -2.31% |
Carbon Steel Performance
Carbon steel saw year-on-year pressure on both volumes and pricing, although December volumes improved sequentially.
Carbon Steel Sales Snapshot
| Particulars | Dec FY26 | Dec FY25 | YoY Change | Nov FY26 | MoM Change | Q3 FY26 | Q2 FY26 | QoQ Change |
|---|
| Quantity (MT) | 1,45,616 | 1,58,333 | -8.03% | 1,33,231 | 9.30% | 4,11,847 | 4,26,063 | -3.34% |
| Avg Realisation (₹/MT) | 41,096 | 42,988 | -4.40% | 39,567 | 3.87% | 40,264 | 41,510 | -3.00% |
CR Coil / CR Sheets
CR coils and sheets reported a sharp jump in volumes following capacity additions in colour-coated products.
CR Coil / CR Sheets Sales Snapshot
| Particulars | Dec FY26 | Dec FY25 | YoY Change | Nov FY26 | MoM Change | Q3 FY26 | Q2 FY26 | QoQ Change |
|---|
| Quantity (MT) | 18,078 | 1,932 | 835.77% | 15,218 | 18.79% | 46,346 | 38,168 | 21.43% |
| Avg Realisation (₹/MT) | 72,983 | 68,057 | 7.24% | 74,653 | -2.24% | 74,194 | 73,580 | 0.83% |
HR Tubes and Pipes
The HR tubes and pipes segment continued to scale up following the start of commercial operations.
HR Tubes / Pipes Sales Snapshot
| Particulars | Dec FY26 | Nov FY26 | MoM Change | Q3 FY26 | Q2 FY26 | QoQ Change |
|---|
| Quantity (MT) | 478 | 380 | 25.87% | 1,271 | 702 | 81.09% |
| Avg Realisation (₹/MT) | 47,662 | 48,443 | -1.61% | 48,076 | 46,520 | 3.34% |
Sponge Iron Performance
Sponge iron volumes expanded strongly across all comparison periods, despite moderation in realizations on a year-on-year and quarterly basis.
Sponge Iron Sales Snapshot
| Particulars | Dec FY26 | Dec FY25 | YoY Change | Nov FY26 | MoM Change | Q3 FY26 | Q2 FY26 | QoQ Change |
|---|
| Quantity (MT) | 88,808 | 74,305 | 19.52% | 75,936 | 16.95% | 2,48,704 | 1,85,873 | 33.80% |
| Avg Realisation (₹/MT) | 22,461 | 24,410 | -7.98% | 22,140 | 1.45% | 22,470 | 23,394 | -3.95% |
Pig Iron Performance
Pig iron volumes rose sharply on a year-on-year basis following expanded blast furnace capacity, though sequential and quarterly volumes declined.
Pig Iron Sales Snapshot
| Particulars | Dec FY26 | Dec FY25 | YoY Change | Nov FY26 | MoM Change | Q3 FY26 | Q2 FY26 | QoQ Change |
|---|
| Quantity (MT) | 35,783 | 24,594 | 45.49% | 55,425 | -35.44% | 1,51,282 | 1,83,735 | -17.66% |
| Avg Realisation (₹/MT) | 32,265 | 33,595 | -3.96% | 31,594 | 2.12% | 31,847 | 32,451 | -1.86% |
About the Company
Shyam Metalics and Energy Limited is an integrated multi-metal producer with operations across carbon steel, stainless steel, speciality alloys, aluminium foil, and captive power generation. The company operates along the steel value chain with a diversified product mix covering both intermediates and finished products and has maintained a consistent track record of profitability since FY2005.
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