Dear Shareholders,
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Bhagavad Gita, Chapter 2, Verse: 47
These words from the Bhagavad Gita resonate deeply with my journey and
with the very essence of leadership and enterprise. In our relentless pursuit of
excellence, it is easy to become consumed by outcomes. But what truly defines an
organization is the discipline, integrity, and intention with which it walks its path. At
Shyam Metalics, strengthening our core has always been the guiding force, a commitment to
innovation that adds value, expansion that is purposeful, and resilience that endures
through change.
This philosophy continues to shape not only what we do, but how we do
it.
It is an honour to pen down my thoughts today as Chairman Emeritus, a
title I accept with deep humility and gratitude. I thank the Board for entrusting me with
this honorary title and for being my constant pillar of support through this decades-long
journey.
It has been the greatest privilege of my life to lead this company
since the incorporation of Shyam SEL and Power Ltd. in 1991. What began as a journey with
a small team, a clear vision to build a self-reliant steel enterprise and unwavering
belief in possibilities has today transformed into one of India's most respected
integrated metal producers, an institution that has touched countless lives, created
meaningful value, and earned respect in the industry. This decades-long journey has truly
been extraordinary.
Built on a foundation of resilience, discipline and a sense of purpose,
Shyam Metalics has evolved from a focused enterprise into a diversified, future-ready
organisation driven by innovation, operational excellence, and a commitment to sustainable
growth. Each milestone reflects a deep-rooted culture of performance and adaptability,
positioning the company to lead with confidence in an ever-changing industrial landscape.
Enduring Strength in Evolving Times
The year gone by reaffirmed the strength of our business philosophy.
Despite sectoral shifts and global uncertainties, Shyam Metalics remained resilient
through vertical integration, cost controls and prudent financial management. By focusing
on value-added segments and funding expansion primarily through internal accruals, we
ensured that growth remained both strategic and sustainable. Each quarter reflected
consistency, anchored in operational efficiency and financial prudence.
We never pursued scale for its own sake, but remained focused on
purposeful, disciplined and accountable expansion. That mindset remains one of our
greatest strengths.
Driving Strategic Change through Innovation and Resilience
FY 2024-25 was a defining year in our evolution and growth. The
commissioning of new units including the cold rolling mill, blast furnace and coke oven,
marked a significant step in strengthening our integrated model. These additions enhanced
our ability to deliver premium, customized solutions while reducing external dependencies
and improving cost efficiency.
Shaping Tomorrow with Strength and Responsibility
Giving back to society has always been a cause closest to my heart. It
brings me great pride to see Shyam Metalics making tangible contributions to rural
healthcare, education and livelihood creation through our CSR initiatives. From health
camps, ambulance services and drinking water facilities to rural development, computer
literacy centres, scholarships and women's skill development, our work has touched
thousands of lives in the communities we operate in.
Leadership Forged from a Strong Core
For each of us, there comes a time to step away from the saddle and
hand over the reins to the next rider in the journey. For me, that moment came in May
2025, when I stepped down as Chairman and the Board passed the baton to a new generation
of leadership, our Executive Chairman, Mr. Brij Bhushan Agarwal. He has demonstrated
exceptional leadership, vision, and a deep understanding of our values and the business. I
am confident that under his stewardship, Shyam Metalics will reach new heights and set
fresh benchmarks while upholding the principles that have defined us over the decades.
With this thoughtful blend on change and continuity, I am confident that Shyam Metalics
will not only sustain its legacy, but it will also surpass it.
The strength of Shyam Metalics lies not merely in its infrastructure or
performance metrics, but in its people, its enduring value, its culture and the shared
belief in doing the right thing every single time. Today, represented by thousands of
colleagues and business partners across India, we remain a purpose-led company driven by
service, integrity and innovation.
To all our stakeholders, I express my deepest gratitude for your
continued support and belief. This next chapter will be one of accelerated growth, greater
impact and deeper value creation not just for Shyam Metalics, but for India's
industrial and infrastructural landscape.
I look forward to continuing this journey as a guide and well-wisher,
grounded in the belief that when karma (duty) is carried out with honesty and
devotion, the phal (result) inevitably follows.
Best regards,
Mahabir Prasad Agarwal
Chairman - Emeritus