Shyam Metalics & Energy has appointed Sheetij Agarwal (DIN: 08212992) as an Wholetime Director of the Company based on the recommendation of Nomination & Remuneration Committee for a term of 5 (five years) w.e.f. 10 November 2023 till 09 November 2028, subject to the necessary approval of the Shareholders. Powered by Capital Market - Live News

Net profit of Shyam Metalics & Energy rose 323.53% to Rs 484.09 crore in the quarter ended September 2023 as against Rs 114.30 crore during the previous quarter ended September 2022. Sales declined 4.68% to Rs 2940.70 crore in the quarter ended September 2023 as against Rs 3085.20 crore during the previous quarter ended September 2022. ParticularsQuarter Ended�Sep. 2023Sep. 2022% Var. Sales2940.703085.20 -5 OPM %10.447.89 - PBDT309.94250.39 24 PBT133.40139.95 -5 NP484.09114.30 324 Powered by Capital Market - Live News

Shyam Metalics & Energy will hold a meeting of the Board of Directors of the Company on 10 November 2023.Powered by Capital Market - Live News

Shyam Metalics & Energy announced its entry into energy storage sector with battery-grade Aluminum foil, a critical component in Lithium-ion cells. The Company gears towards becoming one of the first large-scale domestic contributors to the government`s AatmaNirbhar Bharat initiative in the battery energy storage sector.Shyam Metalics, a major producer and exporter of Aluminum foil for various industrial applications with an annual production capacity of 20,000 tons will allow India to corner a share for raw materials in the global Lithium-ion cell market, which is expected to reach 6500GWh/year capacity by 2030.For the production of 1GWh (Gigawatt-hour) of LFP (Lithium Iron Phosphate) cells, which powers a wide variety of electric vehicles and energy storage systems, 350 tons of high purity and uniform-thicknessaluminum foil is required that acts as a positive (cathode) current collector. The demand doubles for Sodium-ion batteries where both positive and negative current collectors is expected to be using aluminum foils.The customized battery aluminum foil from Shyam Metalics with thickness ranging from 12-micron to 20-micron has been tested and validated by third-party laboratories. The Company also has the necessary state-of-the-art German equipment that can manufacture aluminum foils as thin as 6-micron thickness, which will be suitable for future requirements where the foil thickness is expected to decrease with evolving Lithium-ion cell technologies for an improved value of cell gravimetric energy density (amount of energy contained per unit weight of the cell expressed in terms of Watt-hour/Kilogram).Powered by Capital Market - Live News

Shyam Metalics & Energy announced that Shyam Sel and Power (Material Wholly Owned Subsidiary) of the Company has incorporated a Wholly Owned Subsidiary Company in Netherlands named SHYAM GLOBAL B.V. on 08 September 2023 and registered on 11 September 2023 as per the extract received from Netherlands Chamber of Commerce. Powered by Capital Market - Live News