Total raw material costs aggregated to Rs 2,427.2 crore (up 37% YoY). Consequently, gross margin for Q4 FY23 was 28.2% as against 37.8% in the same period last year.

EBITDA declined by 38% YoY to Rs 413.5 crore during the quarter. Blended EBITDA fell by 49% to Rs 7,944 per tonne the fourth quarter from Rs 15,703 per tonne in the corresponding period last fiscal.

EBITDA margin fell to 12.2% in Q4 FY23 from 23.2% in Q4 FY22.

Profit before tax in Q4 FY23 stood at Rs 279.9 crore, down by 52% from Rs 581.2 crore in Q4 FY22.

The company posted a PAT of Rs 848.4 crore (down 51% YoY) and revenue of Rs 12,610.2 crore (up 21% YoY) for the year ended on 31 March 2023.

Brij Bhushan Agarwal, vice chairman & managing director, said “In a year marked by macro challenges, we are happy to report that we stayed on course with our growth plans. Our focus on timely delivery of key expansion projects drove significant volume growth. Our product mix continues to improve with higher contribution from finished products. Thus, our trajectory of high revenue growth remained intact even in an unfavorable price environment.”

Shyam Metalics And Energy is a leading integrated metal producing company based in India with a focus on long steel products and ferro alloys. The company is amongst the largest producers of ferro alloys, one of the leading players in terms of pellet capacity and the fourth largest player in the sponge iron industry in terms of sponge iron capacity in India.

The scrip rose 2.17% to currently trade at Rs 308.20 on the BSE.