ICICI Securities Recommends Buy on Shyam Metalics, Targets ₹1000

• ICICI Securities recommends 'Buy' for Shyam Metalics and Energy (SMEL) with a target price of INR 1,000.
• SMEL tripled its revenue over the past five years, completing a significant INR 95bn capital expenditure.
• The company aims to increase revenue and EBITDA by 2.5x in the next five years through further expansion.
• Future plans include crude steel capacity expansion, 4x growth in stainless steel, and doubling downstream capacities.
• ICICI Securities expects SMEL's expansion to be smooth, maintaining its net cash status.

Why It Matters: ICICI Securities sees strong growth for Shyam Metalics, recommending 'Buy' with a ₹1000 target.