Shyam Metalics: CRISIL Reaffirms Ratings, Enhances Bank Loan Facility Limit to ₹4500 Cr
CRISIL Ratings has reaffirmed Shyam Metalics and Energy Limited's long-term rating at AA+/Stable and short-term rating at A1+. The total bank loan facilities rated were enhanced to ₹4500 Crore from ₹3600 Crore. Consolidated EBITDA rose to ₹2,358 crore in FY26. The company plans ₹9,000-10,000 crore capex over FY27-FY30.
Credit ratings are crucial for a company's borrowing costs and investor confidence. An upgrade or reaffirmation with an enhanced facility limit positively impacts the company's financial flexibility and market perception.
The credit rating reaffirmation and enhancement of bank loan facilities by CRISIL indicates a positive assessment of the company's financial health and operational performance.
Shyam Metalics and Energy Limited (SMEL) has announced the re-affirmation of its credit ratings by CRISIL Ratings Limited. The long-term rating has been reaffirmed at CRISIL AA+/Stable, and the short-term rating at CRISIL A1+. Additionally, the total bank loan facilities rated have been enhanced from ₹3600 Crore to ₹4500 Crore. The company's ₹50 Crore commercial paper rating also stands reaffirmed at CRISIL A1+.
The rating re-affirmation is attributed to the company's strong financial profile, prudent capital structure, robust liquidity, operational efficiencies, and consistent business growth. CRISIL highlighted SMEL's established market position, diversified product and customer profiles, healthy operating efficiency due to integrated operations, and the promoters' extensive experience in the steel sector.
Consolidated EBITDA increased to ₹2,358 crore in fiscal 2026 from ₹1,868 crore in fiscal 2025. Operating performance is projected to strengthen further, with EBITDA expected to exceed ₹3,000 crore in fiscal 2027. The company is undertaking significant capital expenditure of ₹9,000-10,000 crore over fiscals 2027-2030, which is expected to be funded through internal accruals and available liquidity.
CRISIL also noted SMEL's ongoing expansion into flat steel, commissioning of pig iron capacity, and expansion in stainless steel and aluminium, which are expected to enhance product diversification and integration. The company has also signed a non-binding MoU with the Government of Maharashtra for a proposed investment of around ₹50,000 crore for an integrated steel and allied manufacturing complex in the long term.
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Shyam Metalics and Energy Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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