Shyam Metalics expects greenfield unit to add ₹1,200 crore to revenue in 2-3 years

The management is confident of commissioning this unit in the next two years and the project will be funded mainly by internal accruals.

Agarwal stated, “We aim to backward integrate and put up a facility with an investment of ₹450 crore, which will enable us to have complete raw material security.”

On the green energy side, the company has already forayed into manufacturing battery foils, which is a crucial component that goes into the cathode conductor of lithium-ion batteries.

“Looking at the EV boom that would come up in India in the next couple of years, we will be able to not only make the finished product in terms of batter foil but now we would also have the capability of manufacturing the raw material in terms of batter grade foil stock,” he said.

The company currently operates two large aluminum foil rolling units in Kolkata and Jharkhand.

On March 26, Shyam Metalics' joint venture company, Natural Resources Energy Private (NREPL), received a letter of intent (LoI) from the Industry, Energy, Labour, and Mining Department of the government of Maharashtra.

The LoI pertains to the composite licence for an iron ore block located in Maharashtra. Dorite Tracon, a promoter company of Shyam Metalics and Energy, holds a 49% economic interest in NREPL, according to a stock exchange filing.

This project can contribute to the economic growth of the region, generate employment opportunities, and support the nation's infrastructure development, the company added.

The current market capitalisation of Shyam Metalics is ₹16,886.08 crore.