Shyam Metalics and Energy Limited announced the outcome of its Board Meeting held on January 24, 2026. The Board approved the unaudited standalone and consolidated financial results for the third quarter and nine months ended December 31, 2025. The company also approved the voluntary liquidation of its wholly-owned step-down subsidiary, Shyam Metalics International DMCC (SMIDMCC), incorporated in Dubai, UAE, due to its non-operational status and lack of business activities. 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 for this appointment, with February 6, 2026, set as the cut-off date for remote e-voting. A significant expansion plan involving a total estimated capital expenditure of ₹6,660 crore was also approved. Key projects include a Wagon Manufacturing Facility at Kharagpur (₹200 crore), Blast Furnace expansion (₹200 crore), a Power Plant at Sambalpur (₹450 crore), a Hot Rolling Mill & Furnace (₹5,400 crore), and another Blast Furnace expansion (₹410 crore). These projects are expected to enhance manufacturing capacity and operational efficiency, funded through internal accruals and borrowings. Additionally, the company revised its Policy on Related Party Transactions to align with regulatory requirements. The Board meeting commenced at 2:00 PM and concluded at 3:30 PM.
