Quote on Shyam Metalics and Energy Ltd - 1QFY21 - Result Update By Mr. Amarjeet Maurya, Angel Broking Ltd
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Below are Quote on Shyam Metalics and Energy Ltd - 1QFY21 - Result Update by Mr. Amarjeet Maurya, AVP - Mid Caps, Angel Broking Ltd
Shyam Metalics and Energy Ltd (SMEL) 1QFY2021 results outperformed the estimates. The top-line grew by ~170% YoY to Rs2,465cr, mainly due to strong volume growth of ~37% and improvement in realisation. On the operating front, the company reported margin improvement (OPM up by 1,120bp YoY to 27.9%), primarily on account of lower costs during the quarter. The reported net profit grew by ~470% YoY to INR 458cr, on account of strong sales growth and operating performance. Currently we are positive on the stock.
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