Shyam Metalics’ allure dimmed by high valuations

The key highlight of the company’s financials is that it has a consistent track record of remaining profitable even in commodity downcycles. Earnings were impacted in FY20, due to weak commodity demand and higher depreciation and interest. However, the performance picked up from the second half of 2020. In the first nine months of FY21, it had an income of Rs 4,000 crore, a growth of 20.5 per cent year-on-year and an Ebitda of Rs 720 crore, up 60 per cent.

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