Double Down: SMEL Bets Big on Specialty Steel for a ₹40,000 Cr Future

Shyam Metalics and Energy Ltd (SMEL) has unveiled a ₹10,000 crore capital expenditure plan under its ‘Vision 2031’ strategy, aiming to more than double its revenue to ₹40,000 crore by FY31.

As part of the plan, SMEL will scale up its production capacity from 15 million tonnes to 27 million tonnes over the next seven years. The investment will focus on expanding operations in specialty steel, stainless steel, flat products, and aluminium, with a strong emphasis on downstream integration, advanced technologies, and energy efficiency enhancements.

The company’s growth strategy is aligned with strengthening its presence in high-value sectors such as defence, infrastructure, engineering, and railways. The expansion is also expected to generate approximately 10,000 new jobs and double export revenues to USD 300 million, reinforcing SMEL’s position in both domestic and global markets.

News by Rahul Yelligetti.