Kolkata-based integrated metal producer, Shyam Metallics plans to expand its installed metal capacity from 5.71mn mt to 11.54mn mt in one year, including intermediate and final products.
The company wants to diversify its product portfolio to include pig iron as backward integration and ductile iron pipes as the forward integration. It also plans to produce aluminum foils in the coming days.
The company looks to increase its share of high-value products to augment revenues, control costs better, and increase profitability, according to the vice-chairman and managing director, Brij Bhushan Agarwal.
Revenue from operations in Q4 (Jan-March 2021) jumped by 117pc to Rs23.5bn from Rs10.83bn, while total revenues were up by 44pc to Rs62.97bn from Rs43.76bn in the prior-year quarter.
TMT, structural steel, and pipes contributed to 36.7pc of the total revenue, followed by iron pellets and ferro-alloys, which contributed 24pc and 15.7pc to the total revenue, respectively.