{
  "id": 17371013,
  "title": "Shyam Metalics Reports Strong Q2: Consolidated Profit Surges To ₹511 Crore, Revenue Hits ₹5,960 Crore, Alom Solar Stake Approved",
  "url": "https://urgent.news/2026/10/31/shyam-metalics-reports-strong-q2-consolidated-profit-surges-to-511",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-31T07:57:22.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/business/shyam-metalics-reports-strong-q2-consolidated-profit-surges-to-511-crore-revenue-hits-5960-crore-alom-solar-stake-approved"
  },
  "original_language": "en",
  "account": "Shyam Metalics and Energy Limited announced stronger-than-expected financial results for the second quarter and half year ending September 30, 2026. Total revenue climbed to ₹5,960 crore, representing a 32.1% increase compared to the same period last year. Expenses surpassed the previous quarter, hitting ₹5,137.17 crore, up from ₹3,927.97 crore. Earnings per share for the quarter rose significantly to ₹18.36, up from ₹9.36 in the previous year's Q2.\n\nThe company plans to invest ₹50,000 crore for a 9 MTPA steel complex in Chandrapur. Board members approved a 51% controlling stake in Alom Solar Private Limited, which has rights to the Phutamura Coal Block in Chhattisgarh with an estimated reserve of 170 million tonnes. Shyam Metalics will contribute ₹183.60 crore towards a capital expenditure budget of approximately ₹360 crore for Phutamura's development.\n\nDebashis Prasad Pattanaik, a nominee director representing LIC, received approval to join the board. Shyam Metalics changed its depreciation method from Written Down Value to the Straight-Line Method, effective July 1, 2026. This change lowered the depreciation charge for the quarter from the previous year by ₹171.77 crore. The company also announced plans to raise ₹4,500 crore.",
  "summary": "Mumbai: Shyam Metalics and Energy Limited announced its unaudited consolidated financial results for the second quarter and half year ended September 30, 2026. The company's total income for the quarter stood at ₹5,994.34 crore, marking a 32.1 per cent increase from the corresponding quarter last year. Consolidated Performance Total expenses for the quarter were ₹5,137.17 crore, up from ₹3,927.97…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}