Shyam Metalics Announces Rs 10,000 Crore ‘Vision 2031’ Plan to Expand Metals Production and Revenue

Shyam Metalics and Energy (SMEL), a leading player in India’s steel and metals sector, has unveiled an ambitious Rs 10,000 crore expansion under its ‘Vision 2031’ roadmap. The plan aims to more than double the company’s revenue to Rs 40,000 crore over the next seven years, reinforcing its position as a key supplier of steel, stainless steel, aluminium, and flat products in India and abroad.

As part of this growth strategy, SMEL intends to scale up its production capacity from 15 million tonnes to 27 million tonnes by 2031. The expansion focuses on high-value segments including specialty steel, stainless steel, aluminium, and flat products, with an emphasis on downstream integration and cutting-edge technology adoption. The initiative also prioritizes energy efficiency improvements to ensure sustainable and cost-effective production.

SMEL’s roadmap is designed to strengthen its footprint across critical sectors such as defence, infrastructure, railways, and engineering. By targeting high-value industries, the company is positioning itself to meet growing domestic and international demand for quality steel and metal products.

The expansion plan is expected to create around 10,000 new employment opportunities, contributing significantly to local job growth. Alongside, the company aims to double its export revenues to USD 300 million, further enhancing India’s footprint in the global metals market.

Industry experts note that such large-scale investments in steel, stainless steel, aluminium, and associated downstream products are crucial for India’s industrial growth. By combining capacity expansion with technology upgrades and sustainability measures, SMEL is setting a benchmark for modern metals manufacturing in the country.

With ‘Vision 2031,’ Shyam Metalics is not only aiming to boost revenue and production but also focusing on creating value for stakeholders, strengthening supply chains, and fostering innovation across its product segments. This bold expansion reflects the company’s long-term commitment to growth, sustainability, and leadership in the metals sector.