Shyam Metalics (SHYAMMETL) shares hit a 52-week high of Rs 1,090, up 6%, after strong Q1 results and a Rs 4,500 crore fund-raise plan.

The Kolkata-based metals and energy firm reported a consolidated net profit of Rs 351 crore for the quarter ended 30 June, up 21% from Rs 291 crore a year earlier.

Revenue from operations grew 23% to Rs 5,455 crore, against Rs 4,423 crore in the same period last year. That’s a fairly sharp jump for a company this size. Profitability improved too.

Operating profit, or EBITDA, rose 32% to Rs 765 crore, while margins widened to 14% from 13.1% a year ago. The gains came from higher prices and stronger volumes across the company’s steel, iron and aluminium businesses.

Pig iron output alone more than doubled during the quarter. There was more news beyond the results.

The board approved a plan to raise up to Rs 4,500 crore through fresh shares, preference shares or debentures, though this still needs shareholder approval at the company’s annual general meeting on 25 August.

It also declared a first interim dividend of Rs 1.80 per share, with 24 July set as the record date. In another update, the company started commercial production at its new aluminium foil plant in Odisha during the quarter.

It also disclosed a Rs 152.48 crore attachment order from the Enforcement Directorate, linked to investments in a group subsidiary. The company said this does not affect its operations or finances.

Chairman and Managing Director Brij Bhushan Agarwal credited the quarter to ‘disciplined execution, operational excellence, and the strength of our integrated business model’.

By 15:18 pm, Shyam Metalics had eased slightly from its high to trade at Rs 1,053.65 on the NSE, still up 3.05% for the day. That’s well above Friday’s close of Rs 1,022.50, and the stock is now up over 25% for the year so far.

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