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 standalone and consolidated. The meeting also saw the approval for the voluntary liquidation of Shyam Metalics International DMCC (SMIDMCC), a wholly owned step-down subsidiary in Dubai, UAE, due to its non-operational status and lack of materialization of business activities amid geopolitical uncertainties. Furthermore, the Board approved the appointment of Mr. Subrata Bhattacharya as an Additional Director in the Independent Category for a term of five years, commencing February 1, 2026, subject to shareholder approval. A postal ballot notice will be issued seeking member approval for this appointment, with February 6, 2026, fixed as the cut-off date for remote e-voting. Significant capital expenditure plans were also sanctioned, involving new projects and expansions for the company and its subsidiaries. Key projects include a Wagon Manufacturing Facility at Kharagpur with a capacity of 4,800 wagons per annum and an estimated cost of ₹200 crore, expected commissioning by September 30, 2027. An expansion of a Blast Furnace from 0.45 MTPA to 0.55 MTPA, costing ₹200 crore, is slated for commissioning by June 30, 2027. A new Power Plant at Sambalpur with 80 MW capacity will require ₹450 crore, also targeted for June 30, 2027. A substantial Hot Rolling Mill & Furnace project with a capacity of 15,80,000 TPA will cost ₹5,400 crore, with commissioning expected by September 30, 2029. An expansion of a Blast Furnace from 0.77 MTPA to 0.98 MTPA, costing ₹410 crore, is planned for commissioning by June 30, 2027. The total estimated capital expenditure for these projects amounts to ₹6,660 crore, to be funded through internal accruals and borrowings. The company also approved a revision of its Policy on Related Party Transactions to align with regulatory requirements. The Board meeting commenced at 02:00 P.M. and concluded at 03:30 P.M.
