Shyam Metalics and Energy Limited announced the outcome of its Board Meeting held on January 24, 2026. The Board approved the unaudited financial results for the third quarter and nine months ended December 31, 2025, both on a standalone and consolidated basis. Additionally, the company approved the voluntary liquidation of its wholly-owned step-down subsidiary, Shyam Metalics International DMCC (SMIDMCC), incorporated in Dubai, UAE. This decision was made as SMIDMCC has remained non-operational and has not commenced any business activities. The Board also approved the appointment of Mr. Subrata Bhattacharya as an Additional Director in the Independent Category for a period of five years, commencing from February 1, 2026, to January 31, 2031, subject to shareholder approval. A postal ballot notice will be issued to seek this approval, with February 6, 2026, fixed as the cut-off date for remote e-voting. Furthermore, the company announced plans for new projects and expansion involving a capital expenditure of ₹6,660 crore. Key projects include a Wagon Manufacturing Facility at Kharagpur (₹200 crore, commissioning by September 30, 2027), Blast Furnace expansion (₹200 crore, commissioning by June 30, 2027), a Power Plant at Sambalpur (₹450 crore, commissioning by June 30, 2027), a Hot Rolling Mill & Furnace (₹5,400 crore, commissioning by September 30, 2029), and another Blast Furnace expansion (₹410 crore, commissioning by June 30, 2027). These projects are to be funded through internal accruals and borrowings. The Board also approved the revision of the Company’s Policy on Related Party Transactions to align with regulatory requirements and industry standards. The revised policy is effective from the date of Board approval and is available on the company's website. The Board meeting commenced at 02:00 PM and concluded at 03:30 PM.
