SHYAMMETL: APPROVES ₹360 CR CAPEX FOR PHUTAMURA COAL BLOCK

SHYAMMETL: APPROVES ₹360 CR CAPEX FOR PHUTAMURA COAL BLOCK SHYAMMETL • Board approved acquisition of a 51% controlling stake in Alom Solar Private Limited, subject to definitive agreements and regulatory approvals • Alom Solar holds mining rights for the Phutamura Coal Block spread across ~7.324 sq km, with estimated reserves of ~170 million tonnes • Acquisition consideration is ₹0.51 lakh in cash for 5,100 equity shares; Alom Solar will become a subsidiary • Initial capex budget is approximately ₹360 Cr, with Shyam Metalics’ 51% share at ~₹183.60 Cr and the balance to be funded by the JV partner • Completion is expected on or before 30 November 2026 • The acquisition supports strategic backward integration by securing long-term captive coal supply for the company’s power and steel operations Impact: Positive — The coal-block acquisition can strengthen backward integration and improve long-term raw-material security for Shyam Metalics’ steel and captive power operations. However, the ₹360 Cr capex requirement and execution of the mining project remain key factors to monitor.