Moneycontrol PRO
Upcoming Webinar:Moneycontrol Pro in association with Quants League Sep'21 Edition brings to you to 5-Days Live Algorithmic Options Trading Virtual Conference. Register Now!

Subscribe to Shyam Metalics and Energy: Geojit

Geojit has come out with its report on Shyam Metalics and Energy. The research firm has recommended to ''Subscribe'' the ipo in its research report as on June 11, 2021.

June 14, 2021 / 11:56 AM IST
IPO (Representative image)

IPO (Representative image)

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Geojit IPO report on Shyam Metalics and Energy


Shyam Metalics and Energy Ltd (SMEL) is a leading integrated metal producing company focusing on long steel products and ferro alloys with the ability to sell intermediate and final products across the steel value chain. Incorporated in 2002, they are amongst the largest producers of ferro alloys in terms of installed capacity in India, as of February 2021. As of March 31, 2020, they were 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. They currently operate three manufacturing plants that are located at Sambalpur in Odisha, and Jamuria and Mangalpur in West Bengal.



Valuation and Outlook


At the upper price band of Rs.306, SMEL is available at EV/EBITDA of 9.1x (FY21 annualized) which appears fully priced. We assign a Subscribe rating, with a short to medium term perspective due to optimistic international prices and rise in domestic demand.


For all IPO stories, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Broker Research

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark