Shyam Metalics and Energy Limited (SMEL) is India’s leading integrated metal producer company. The company is primarily engaged in the production of long steel products such as iron pellets, sponge iron, steel billets, TMT, structural products, wire rods, and ferro alloys. Currently, it is among India’s largest producers of ferro alloys in terms of installed capacity and the fourth-largest player in the sponge iron industry. The company serves institutional customers and end-users. Jindal Stainless Limited, Rimjhim Ispat Limit are some of its domestic clients whereas Norecom DMCC, Norecom Limited, POSCO International Corporation, World Metals & Alloys, Traxys North America LLC, JM GLobal Resources, Vijayshri Steel Pvt Ltd, etc. are the international clients. The company has a partnership with 42 distributors to offer its products across 13 states and 1 union territory. As on today, the firm has 3 manufacturing plants located in Sambalpur in Odisha, and Jamuria and Mangalpur in West Bengal. Its manufacturing units have an aggregated installed metal capacity of 5.71 million tonnes per annum with 227 MW of Captive Power Plant. Mahabir Prasad Agarwal, Brij Bhushan Agarwal, Sanjay Kumar Agarwal, Subham Capital Private Limited, Subham Buildwell Private Limited, Narantak Dealcomm Limited, Kalpataru Housefin & Trading Private Limited, Dorite Tracon Private Limited, and Toplight Mercantiles Private Limited are the company promoters.

For year/ period ended ( in Cr.)

• The Company is a leading integrated metal producer in India.
• It’s manufacturing plants are strategically located with a robust infrastructure.
• It has diversified product portfolio.
• Expansion Plan – The Company is looking to expand its capacity from 5.71 MTPA to 11.60 NTPA by 2025.
• The Company has strong financial performance and distribution network.

• Repayment and/or pre-payment of company and its subsidiary (SSPL)’s debt fully or partially
• General corporate purposes.

The Company has backward & forward integration and proximity to raw material sources & demand cluster is positive for the company. With the rising demand growth from long steel and Ferro alloys, planned expansion in new high growth potential sectors will boost profitability. Considering its financials and prospects, the issue seems to be an undervalued offering. Hence, investor can subscribe to the issue for the medium to long-term.