Revenues rose by 52% YoY to Rs 2,578 crore during the quarter. The company recorded maximum volume growth in Sponge Iron sales (up 69% YoY), followed by Finished Steel sales (up 19% YoY) and Ferro Products (up 6% YoY). However, Iron Pellets sales volume was lower by 31% YoY and that of Steel Billets had contracted by 15% YoY.

EBITDA improved by 77% to Rs 625 crore in Q3 FY22 from Rs 353 crore in Q3 FY21. EBITDA margin was 24.2% in Q3 FY22 as against 20.8% in Q3 FY21.

Blended EBITDA per tonne in Q3 FY22 was Rs 15,145, up by 39.5% from Rs 10,855 in Q3 FY21.

Brij Bhushan Agarwal, vice chairman & managing director, said: "On a 9-month basis, the Company has almost doubled its revenues and tripled its profits, a testimony to our focus on keeping costs in control. It gives us immense pride to share that in this quarter we received clearances and commissioned capacity expansions at our plants at Jamuria & Sambalpur, some of them much ahead of schedule. We have one of the lowest cost of captive power in India and almost 80% of our power consumption is met via captive generation."

Shyam Metalics and Energy (SMEL) is an integrated metal producing company based in India with a focus on long steel products and ferro alloys. It 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.