Shyam Metalics and Energy Ltd. (SMEL) Commenced operations of Phase-I of its new greenfield Cold Rolling Mill (CRM) in Jamuria, West Bengal, today. The facility, with a total planned capacity of 400,000 tonnes annually, is part of a ₹603-crore project aimed at expanding the company’s product portfolio.
The shares of Shyam Metalics and Energy Ltd. (SMEL) were trading at ₹896.90, up by ₹25.70 or 2.95 per cent on the NSE today at 3.10 pm.
The CRM, operated by SMEL’s wholly-owned subsidiary Shyam Metalics Flat Product Pvt. Ltd., will produce pre-painted galvalume coils (PPGL) and galvanized iron/ galvanized steel (GI/GL) coils. The company has invested ₹346 crore in the project so far, with ₹257 crore pending.
Brij Bhushan Aggarwal, Vice-Chairman and Managing Director of SMEL, said the new facility is expected to contribute 8 to 10 per cent of the company’s revenue and EBIDTA within two years. The strategic location in eastern India aims to address the region’s shortage of colour-coated sheet manufacturing units.
The expansion aligns with India’s industrial policies and is expected to support sectors such as housing, warehousing, and industrial sheds, with a focus on affordable housing initiatives like PMAY.