The company announced a fresh INR 2,700 crore investment to boost value-added steel and stainless capacities, strengthening margins and advancing its long-term growth strategy.

Apr 29, 2026

Shyam Metalics and Energy Limited (SMEL) has proposed a INR 2,700 crore capital expenditure programme, to be funded entirely through internal accruals and executed by 2029. The plan will be presented for board approval soon. The investment adds to its existing INR 16,060 crore capex pipeline, of which INR 8,700 crore has already been deployed, with the remaining under phased execution over the next 3–4 years.

A key component includes a INR 900 crore entry into Special Bar Quality (SBQ) steel and specialty long products, aimed at high-margin sectors such as automotive and engineering. The company also plans an INR 1,800 crore expansion in stainless steel, including downstream integration and capacity enhancements.

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The expansion focuses on improving product mix, boosting margins, enabling import substitution, and enhancing export competitiveness. Chairman and Managing Director Brij Bhushan Agarwal said the move marks a shift toward value-led growth, with emphasis on premium products and stronger long-term returns.