India’s SMEL posts 59% surge in stainless steel production in Dec 2024
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Update time : 2025-01-09 16:33:07
Shyam Metalics and Energy Ltd. (SMEL), an Indian metal-producing company, reported that the company’s stainless steel production soared by 59% year on year to 7,889 tons in December 2024, while the average realization for the month was 6% lower year on year.
In the given months, SMEL’s aluminum foil output was 1,910 tons, up by 32% year on year; specialty alloys output was 14,500 tons, a year-on-year hike of 7%; carbon steel output was around 158,000 tons, rising by 11% year on year; cold-rolled coil and sheet output was 1,932 tons, soaring by 69% year on year.
SMEL’s consolidated net profit fell by 55.3% to Rs 215.68 crore in the second quarter of the fiscal year 2025, while the operating revenue was up by 23.6% to Rs 3,634.02 crore in the quarter ended September 30, 2024, both year on year.
