It gives me immense pleasure to report a strong operating and financial performance of
Shyam Metalics and Energy Limited (SMEL) for the year 2021-22. We have constantly
challenged ourselves to deliver more and set new benchmarks in the process.
Outperformance
Strong operational achievements were complemented by a robust financial performance
that returned to the shareholders in form of dividend. This was made possible by the skill
and commitment of our management and employees, who delivered the planned ramp-ups across
our manufacturing units.
Added, a disciplined capital allocation approach, underpinned by strong commodity
prices, provided further strength to our performance. We celebrate a journey of continued
resilience in the year gone by, coupled with optimism for a better future. As one of
India's largest ore to metal Company, we continue to create jobs, support our host
communities and generate value along our entire supply chain. In midst of all:
We reported a consolidated revenue of Rs10,394 Crores, growth of 65% over the last
year.
Our consolidated EBITDA grew by 87% toRs 2,600 Crores for the year ended March 31,
2022.
We reported an exceptional consolidated net profit growth of 104% for the year ended
March 31, 2022.
We declared interim dividend on two occasions @ 22.5% (Rs 2.25/- per equity share).
With a strong net cash flow from operating activity we further declared a final dividend
per share of Rs 2.70 subject to approval of the shareholders.
Forging foundations for fuelling tomorrow's growth
Shyam Metalics does not only intend to become a larger Company, it intends to become a
more profitable Company as well. In doing so, the Company is clearly reinventing itself
through various organic and inorganic initiatives which would help the company to leverage
its brand leaps and bounds.
Committed to sustainability
In our move towards sustainable growth and value creation, we have appointed Growlity
Inc., management consultants for a comprehensive diagnostic study on our company's
Environmental, Social & Governance (ESG) fundamentals, implementation ESG framework
& compliance thereof. In parallel to our ongoing drive towards sustainable growth, we
are also determined to safeguard our environment and contribute to uplift our society
while generating value through our ESG framework and that will provide us an opportunity
to develop and maintain a culture of business sustainability and material aspects to our
stakeholders.
Looking ahead with confidence
Moving forward, I am confident that we will continue to uphold our true spirit of
maintaining strong governance practices, creates benchmark performance, and continue to
instil confidence among our stakeholders. SMEL enjoys a strong presence in the iron &
steel industry and is a true leader in this dynamic market. The energy, spirit and
adaptive approach we've brought, augmented by the resolute commitment and efficiency of
our employees and channel partners, will certainly help us maintain our leadership
position and grow our footprints in coming years. Thank you to all of you, our valued
shareholders, for your trust and confidence in Shyam Metalics and Energy Limited. Your
support goes a long way in inspiring us to deliver business excellence and a strong
financial performance.
| With warm regards |
| Mahabir Prasad Agarwal |
| Chairman |