Amazon Future Engineer Program Expands To 2,200 Scholars With 500 New Scholarships For Women In Computer Science

* Amazon to provide ₹2 lakh in financial assistance over four years to female engineering students from low-income backgrounds

* Amazon has invested ~₹50 crore (approx. USD 6 million) in the program since 2022; broader computer science education initiatives have reached 4.8 million students in over 50,000 government schools

* First graduating cohort in 2025 achieves 89% placement rate across Amazon and other leading companies

Amazon has announced 500 new scholarships for 2026 under its Amazon Future Engineer (AFE) program in India, providing female engineering students from low-income families with financial support, mentorship, and career opportunities in technology. Amazon Future Engineer (AFE) is Amazon's global computer science education program designed to increase access to technology education and career opportunities. With this expansion, the program currently supports 2,000 active scholars.

The AFE scholarship provides ₹2 lakh in financial assistance over four years to female students pursuing B.E. or B.Tech degrees in computer science or allied branches, from low-income backgrounds. Beyond financial support, scholars receive a laptop, technical training through bootcamps, webinars from Amazon Women of the World (WoW), one-on-one mentorship from Amazon engineers, and paid eight-week internship opportunities at Amazon after their second year.

“Every student deserves the opportunity to discover their potential. With the Amazon Future Engineer Scholarships, we're investing in the leaders who will shape the future of work—the talented, determined students in communities across India” said Candi Castleberry, Vice President of Amazon eXperiences and Upskilling. “The 2026 scholarship recipients demonstrate what's possible when we create upskilling pathways together and remove the barriers standing between young people and their dreams."

Announced on the sidelines of the inaugural Together India Summit, the expansion reflects Amazon’s continued focus on creating pathways to learn and build careers in technology so we are future ready. As part of the internal summit, Together at Amazon is an initiative focused on helping employees grow, thrive, and connect through access to skills development, workplace support, and community engagement. As part pf this framework, In This Together is an initiative helping students, customers, communities, partners, and business owners discover pathways to Amazon.

First cohort graduates with 89% placement rate

Launched with 200 scholars in 2022, the program has expanded significantly year on year, increasing to 500 annual scholarships from 2023 onwards. Scholars are selected through a rigorous process evaluating academic merit, financial need, and leadership potential. The program's first graduating cohort in 2025 has achieved an 89% placement rate, with graduates securing roles at Fortune 500 companies including Amazon. To date, about 400 scholars have completed internships across various technical roles at Amazon, with hundreds of others set to take up internships in the coming months as newer cohorts become eligible.

Many scholars are first-generation college graduates from tier-2 and tier-3 cities, reflecting the program’s reach across underserved regions in India. Graduates such as Sreya Mula from Telangana, now a Software Development Engineer, Keerthi Sankara from Andhra Pradesh, a Cloud Support Associate, and Anjali Ashtake from Nagpur, Maharashtra, now a Graduate Analyst at Deutsche Bank, are among those who have gone on to build careers in technology, demonstrating the program’s impact in enabling access to long-term opportunities.

Reaching 4.8 million students in government schools

Amazon has invested ~₹50 crore (approximately USD 6 million) in the AFE program since 2022, building a structured pathway from scholarship to career for young girls in technology. The scholarship program is implemented in partnership with the Foundation for Excellence, while NavGurukul delivers technical training to help scholars build industry-relevant skills and prepare for internships.

Beyond engineering scholarships, the program has reached 4.8 million students across more than 50,000 government schools in India between 2021 and 2025, providing computer science and AI education.

About Amazon

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfilment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit aboutamazon.in and follow @AmazonNews.

IIM Kashipur Honours 546 Graduates At Its 13th Convocation, Celebrating Excellence In Analytics, Innovation, And Leadership

* 546 students graduate across MBA, MBA (Analytics), EMBA, EMBA (Analytics) and Ph.D. programmes

* Class of 2026 saw 73%+ of MBA (Analytics) cohort and 39.19% of the total cohort comprised female graduates~

Editor's Synopsis:

● 546 students were conferred degrees across five programmes at the 13th Convocation.

● Hon'ble Mr. Justice Guhanathan Narendar, Former Chief Justice, Uttarakhand High Court attended as chief guest & Mr. Kamal Poddar, Managing Director, Choice International Limited, as the Guest of Honour.

● 10 medals awarded for academic and all-round excellence across programmes.

● 22 students honoured on the Director's Merit List — 14 from MBA and 8 from MBA (Analytics).

● The MBA (Analytics) program witnessed a strong female representation of over 73%, with women constituting 39.19% of the total graduating cohort.

The Indian Institute of Management Kashipur (IIM Kashipur), one of India's premier management institutions, hosted its 13th Annual Convocation Ceremony today. The ceremony marked a key milestone with one of IIM Kashipur’s most diverse graduating cohorts and a strong representation of women across programmes.

This year, 546 students were awarded degrees across five programs at IIM Kashipur. The programme-wise distribution of the graduating class is as follows: 280 students from the MBA programme, 160 from the MBA (Analytics) programme, 34 from the Executive MBA (E-MBA), 58 from the Executive MBA in Analytics (EMBAA), and 14 from the Doctoral (Ph.D.) programme.

The convocation was presided over by Hon’ble Mr. Justice Guhanathan Narendar, Former Chief Justice of the Uttarakhand High Court, who served as the Chief Guest and conferred degrees upon the graduating cohort. He was joined by Mr. Kamal Poddar, Managing Director, Choice International Limited, as the Guest of Honour. The event was also graced by Shri Sandeep Singh, Interim Chairperson, Board of Governors; Prof. Neeraj Dwivedi, Director, IIM Kashipur; along with faculty members and staff.

In the convocation address, Hon'ble Mr. Justice Narendar said “You have earned your place through perseverance, discipline and determination, with each degree reflecting resilience and effort. Do not be afraid of taking risks early in your career, for growth rarely happens within comfort and true success lies in what you contribute. The difference between power and impact lies in values—ask yourself whether your decisions will uplift others, whether you will lead with integrity, and whether you will stand firm in difficult moments. In life, you will often face shades of grey, and it is your intellect and morals that must guide you to choose what is right.”

Addressing the gathering with pride and warmth, Mr. Kamal Poddar, Managing Director, Choice International Limited, congratulated the graduating cohort and highlighted that the real journey begins beyond campus, where self-motivation and adaptability are key. Emphasising India’s growth potential, he encouraged students to seize opportunities and lead with purpose, underscoring “IIM”—Integrity, Innovation, and Motivation—as the foundation for lasting success.

The 13th Convocation reflected IIM Kashipur’s strong commitment to diversity. In the MBA (Analytics) programme, women account for over 73% of the graduating class, signalling a notable rise in women’s participation in analytics and research. Overall, women constitute 39.19% of the graduating cohort—an encouraging increase from 33% last year—highlighting steady progress in gender representation across management education.

In recognition of exceptional academic and all-round achievement, 10 medals were awarded across programmes. An additional 22 students—14 from the MBA and 8 from the MBA (Analytics) programme—were honoured under the Director’s Merit List. The Institute also highlighted its commitment to accessibility, with over 24 specially abled students (PwD) enrolled across the graduating cohort.

Addressing the graduating class, Shri Sandeep Singh said “As you step beyond these walls, you enter a world defined by both unprecedented opportunities and complex challenges. Be leaders who think deeply, act responsibly, and remain anchored in integrity. Measure your success not only by personal achievements, but by the impact you create in the lives of others.”

Echoing this, Prof. Neeraj Dwivedi, highlighted the Institute’s ongoing efforts and aspirations, emphasizing its commitment to nurturing responsible, future-ready leaders through a holistic and industry-relevant education. He said “Convocation is always a special occasion in the life of an academic institution. For our students, it marks the successful completion of years of hard work, discipline, and learning. For the Institute, it is a moment of pride, because we present to society a new group of graduates who are ready to contribute with competence, confidence, and character. At IIM Kashipur, we remain committed to academic excellence, integrity, innovation, inclusion, and societal relevance. Our task is not merely to prepare skilled professionals, but to nurture thoughtful, ethical, and future-ready leaders.”

For the graduating batch of 2024–26, the Institute’s flagship Experiential Learning (EL) Programme facilitated 73 live projects across 80+ organisations, engaging over 300 students in initiatives spanning sustainability, rural development, and MSME growth across Uttarakhand.

On the global front, IIM Kashipur maintains active academic partnerships with leading institutions across different countries, including Denmark, France, Greece, Israel, Peru, South Korea, Sweden, Taiwan, Thailand, the United Kingdom, and Vietnam, enabling student exchange and collaborative research. With an AACSB membership and a consistent presence in the Top 25 of the NIRF Rankings among Indian management institutions, IIM Kashipur continues to strengthen its standing as one of India's most forward-looking and respected B-schools.

LTSCT Joins imec Automotive Chiplet Program Globally

* To accelerate Chiplet adoption for high-performance, safety-critical automotive compute

L&T Semiconductor Technologies Ltd (LTSCT)), a wholly-owned subsidiary of Larsen & Toubro (L&T), has announced that it is joining the imec ‘Automotive Chiplet Program’ (ACP), a pre-competitive research initiative uniting stakeholder across the global automotive value chain.

ACP evaluates chiplet architectures and advanced packaging technologies to meet automakers’ demanding performance, functional-safety, reliability and lifecycle requirements — while enabling the flexibility, scalability and cost efficiencies associated with chiplet-based systems.

For decades, automakers have relied on semiconductors to power vehicle electronics. However, traditional monolithic SoC approaches are increasingly challenged by the compute and bandwidth demands of advanced driver-assistance systems (ADAS), software-defined vehicles (SDVs) and next-generation in-vehicle infotainment (IVI). Chiplets — modular silicon building blocks optimised for specific functions and interconnected through advanced 2.5D and 3D packaging — offer a new paradigm that delivers higher performance per watt, faster time-to-market and greater supply-chain resilience.

Sandeep Kumar, Chief Executive - LTSCT, said: “Chiplets represent a fundamental shift in how performance and integration are delivered in automotive systems. As vehicle architectures become increasingly software-defined, modular and scalable hardware becomes critical”.

He further added: “Through the collaboration with imec and the ACP partners, LTSCT aims to help define the standards and reference designs that will drive the next generation of high-performance, energy-efficient automotive platforms. Our participation will emphasise safety-critical compute partitions, high-bandwidth die-to-die links and robust test/monitoring concepts from wafer to in-field operation. We intend to contribute practical viewpoints from productisation — covering qualification, diagnostics and lifecycle management in real automotive environments”.

“We are delighted to welcome LTSCT — India’s largest semiconductor product company — to the Automotive Chiplet Program”, said Mr Bart Placklé, Vice President of Automotive Technologies at imec. “Transitioning to chiplet architectures is prohibitively expensive if pursued by OEMs in isolation. Commercial viability depends on industry-wide alignment around interoperable chiplet standards that allow carmakers to integrate off-the-shelf and proprietary chiplets seamlessly into unique systems. The Chiplet reduces vendor lock-in, enhances supply-chain flexibility and improves energy and spatial efficiency — key enablers of more compact and sustainable vehicle platforms”, he added.

The ‘Automotive Chiplet Program’ leverages imec’s world-leading expertise in advanced 2.5D/3D packaging and its broad ecosystem across the semiconductor and automotive industries.

With its entry into the imec ‘Automotive Chiplet Program’, LTSCT reinforces its commitment to advancing India’s role in the global semiconductor ecosystem. By contributing to open chiplet standards and collaborating with leading automotive and technology innovators, LTSCT aims to accelerate the path toward safer, smarter and more sustainable vehicles worldwide.

About L&T Semiconductor Technologies Ltd (LTSCT)

L&T Semiconductor Technologies (LTSCT), a wholly-owned subsidiary of L&T, is the first major Indian Semiconductor product company - a fabless company for designing & delivering smart devices for global Customers. A company that provides Semiconductor Devices and Technology partnerships by helping customers realise energy-efficient, high-performance systems to benefit from data, electrification and software-defined technology trends. Our aim is to build an India-based semiconductor portfolio of Smart Devices across MEMS Sensors, Power, Analog Mixed Signal & RF products, to support Automotive, Industrial, Energy and Telecommunication verticals. We have a presence in four prominent geographies, i.e. US, Europe, Japan and India, with offices in Austin, Munich, Tokyo, Bangalore and Chennai.

ICICI Bank Enables Biometric Authentication For UPI Transactions On iMobile

* Introduces payment authentication through fingerprint or face recognition for UPI transactions up to ₹5,000

ICICI Bank has announced the implementation of biometric authentication for UPI transactions through iMobile, the Bank’s mobile banking application. The feature enhances user experience by allowing them to authorise transactions up to ₹5,000 via facial recognition or fingerprint authentication. This new feature does away with the need to manually enter UPI PIN for transactions up to the threshold.

The introduction of biometrics brings in the dual advantage of faster payments and security, by eliminating the risk of shoulder-surfing in public spaces. Customers can authorise UPI transactions such as peer-to-peer money transfer, scan QR for in-store payments, or online payments through their biometrics. For transactions above ₹5,000, the customer will require their existing UPI PIN to authorise the payment.

An ICICI Bank spokesperson, said, “Safeguarding our customers’ interest has always been at the centre of our operations, and we believe in providing our customers with advanced digital solutions. The introduction of biometric authentication is aligned with current regulatory guidelines, and marks a meaningful step towards enabling a more secure and seamless payment experience. By leveraging device-level biometric verification on iMobile, we aim to further strengthen transaction security while ensuring ease of use. Customers also have the flexibility to choose between PIN-based and biometric authentication, based on their preference and convenience.”

The feature is available on the latest iMobile app versions of Android – v30, and IOS – v28.2. Android users can authorise the transactions via their fingerprint, and IOS users through facial recognition.

iMobile users can easily activate the biometric authenticator with a few simple steps.

Log into iMobile App

Click on UPI payments and choose UPI settings

Select account number for enabling biometric

Select ‘Use biometric for payments’ and click ‘proceed’

Enter your UPI PIN for verification

Authenticate the device-level biometric data

For more information on ‘iMobile’ and to download the app, visit the Google Play Store or Apple App Store.

For news and updates, visit www.icici.bank.in and follow ICICI Bank on Twitter at www.x.com/icicibank.

For media inquiries, please contact corporate.communications@icici.bank.in.

About ICICI Bank: ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN) is a leading private sector bank in India. The Bank’s total assets stood at ₹ 23,72,531 crore at March 31, 2026. 

Le Méridien Surat Opens, Introducing The Brand’s Chic Style And Sensibility To India’s Diamond City

* With contemporary design and signature programming, the 185-room hotel invites travellers to savour the city’s artistic spirit and cultural charm

Le Méridien Hotels & Resorts, part of Marriott Bonvoy’s global portfolio of over 30 extraordinary hotel brands, today announced the opening of Le Méridien Surat, marking the brand’s debut in India’s Diamond City. Set along the banks of the Tapi River, the hotel offers a contemporary gateway to one of the country’s most enterprising cities. Renowned for its intricate zari craftsmanship and celebrated street food culture, Surat presents creative-minded travellers with a destination where tradition and progress coexist. Reflecting the city’s distinct character, Le Méridien Surat offers a thoughtfully designed stay that encourages guests to savour each moment, connecting with local culture and curated culinary experiences.

Key Highlights Le Méridien in Surat:

Brand Milestone: First Le Méridien in Surat; second Le Méridien in Gujarat

Location: 3 km from Surat International Airport; close to Surat Fort, Dumas Beach , Chauta Bazaar, Ring Road textile markets

Guest Accommodations: 185 guestrooms, including suites come with refined detailing inspired by Surat’s diamond and textile heritage

Design Narrative: Mid-century modern design featuring iridescent textures, faceted forms, and fluid compositions reflecting diamonds, textiles, and the Tapi River; signature art installations “The Diamond Street” and “The Threads of Surat”

Dining: The Surat Kitchen (all-day dining with global and regional influences) and Le Scoop (signature gelato programme)

Event Spaces: 100,000+ sq. ft. of flexible venues, including two pillarless ballrooms (Ruby and Emerald) and expansive outdoor lawns

Brand Programming: Unlock Art™ programme with complimentary access to Surat Fort, enhancing cultural immersion

“India continues to be an important growth market, and the debut of Le Méridien in Surat reflects an ideal expansion opportunity for the brand in a high-potential urban centre.” said Kiran Andicot, Senior Vice President, South Asia, Marriott International. “The city offers a compelling combination of commercial vitality and cultural depth, creating an environment where travelers increasingly seek experiences connected to the destination. With its heritage in craftsmanship, thriving food culture, and position as a regional hub, Surat aligns perfectly with the brand’s commitment to helping guests discover and savour destinations through a creative lens.”

185 Guest Accommodations Inspired by Diamonds and Textiles

Spanning 1,25,000 sq. ft, Le Méridien Surat features 185 guest rooms and suites, thoughtfully designed with a serene palette and refined detailing that reflects the city’s rich heritage. At the reception a striking artistic installation, ‘The Diamond Street – Heart of Surat’, captures the energy and craftsmanship of Surat’s diamond industry. The scene depicts artisans along narrow lanes, illuminated by shafts of sunlight that glimmer like scattered diamonds, bringing to life the collective spirit that defines the city’s diamond trade.

At the heart of the hotel, Le Méridien Hub features ‘The Threads of Surat – The Silk City’, a celebration of the city’s textile heritage where threads, colors, and skilled hands weave not just fabric, but the very identity of Surat. Throughout the hotel, design elements gently incorporate faceted forms, iridescent textures, and fluid compositions, evoking the craftsmanship and artistry that defines the city. These details create a contemporary yet deeply contextual space that inspires guests to discover the destination through a new lens.

Dining Experiences Celebrating Local and Global Flavors

Le Méridien Surat presents a curated culinary journey that blends global sophistication with local inspiration. The Surat Kitchen, the hotel’s all-day dining restaurant, offers a dynamic mix of international flavours alongside regional influences. Designed as an eclectic and welcoming space, the restaurant provides an immersive dining experience that reflects the city’s celebrated food culture. Adding a playful touch, Le Scoop, the brand’s signature gelato programme, invites guests to pause and indulge in moments of simple pleasure, embracing the brand’s philosophy of savouring the good life.

100,000+ Square Feet of Event Space for Weddings and Gatherings

Le Méridien Surat offers over 100,000 sq. ft. of versatile event space, including two expansive pillarless ballrooms, Ruby and Emerald, paired with a rich outdoor lawn space. The hotel is well positioned to host large-scale conferences, grand celebrations and social gatherings. Designed with flexibility and sophistication, these venues can adapt to varied event formats and guest preferences, supported by intuitive service and thoughtful planning.

Located at a convenient three kms from the Surat International Airport, the hotel sits within close proximity for guests to explore historic sites including the Surat Fort and The Dumas Beach Front, stroll through the lanes of Chauta Bazaar, or discover the city’s renowned textile markets along Ring Road. For an authentic taste of Surat, Gaurav Path and Khaudra Gali offer evening experiences worth savouring.

Guests can wrap up a day of soaking in the city, with a refreshing swim or recharge at the well-appointed fitness centre, designed to balance relaxation with routine.

Unlocking the Destination Through Art

In line with the brand’s signature Unlock Art™ programme, Le Méridien Surat has partnered with Surat Fort, offering guests complimentary access to one of the city’s most iconic cultural landmarks. This initiative brings alive the brand’s commitment to connecting guests with the local art and cultural landscape, encouraging exploration beyond the hotel and fostering meaningful engagement with the destination.

“Le Méridien Surat, reflects our vision to create a destination that blends modern sophistication with the city’s distinctive character,” said Manoj Jangid, General Manager, Le Meridien Surat. “From thoughtfully designed spaces that honor local craftsmanship to curated culinary experiences and versatile venues for celebrations, every element has been crafted to inspire guests to discover Surat through the brand’s creative lens. We look forward to welcoming travelers seeking stays that balance relaxation, cultural connection, and meaningful moments worth savouring.”

Le Méridien Surat participates in Marriott Bonvoy®, Marriott International’s award-winning travel programme, allowing members to earn and redeem points for stays at this hotel and across its global portfolio. With access to exclusive experiences and a seamless digital platform, Marriott Bonvoy enhances the travel journey for today’s global explorer.

For more information or to make a reservation, visit http://www.lemeridiensurat.com

Tata Motors Ltd. Achieves Record Patent Filings In FY26

Tata Motors Ltd., India’s largest commercial vehicle manufacturer, has achieved a significant innovation milestone in FY26 by filing 144 patent applications, marking the highest number of patent filings by Tata Motors Commercial Vehicles in a single year.

These filings are closely aligned with the company’s strategic priorities, including enhanced vehicle safety, improved reliability, optimised total cost of ownership, and superior occupant comfort. The strong filing performance also reflects the company’s focus on future-ready and sustainable mobility solutions, spanning emerging technologies such as electric vehicles and hydrogen-based internal combustion engines.

During the year, the company strengthened its intellectual property portfolio by filing 21 design applications and 35 copyright applications, in addition to its patent filings. It also secured 15 patent grants, increasing the cumulative number of granted patents to over 650.

This record achievement underscores Tata Motors’ continued commitment to leveraging innovation to deliver enhanced value to customers and reinforces its position as a leader in commercial automotive innovation.

Commenting on the achievement, Mr. Aniruddha Kulkarni, Vice President and Head – Engineering, Tata Motors Ltd., said: “Innovation is at the heart of everything we do at Tata Motors Commercial Vehicles. The record number of patent applications filed in FY26 is a testament to the passion, creativity, and technical excellence of our engineering teams. It reinforces our vision of establishing Tata Motors as a global benchmark for innovation in commercial mobility. As we look ahead, we remain committed to harnessing our innovation capabilities to serve the long-term interests of our customers, communities, and the nation.”

About Tata Motors Ltd (Formerly TML Commercial Vehicles Ltd):
Part of the USD 180 billion Tata Group, Tata Motors Ltd., (BSE: Scrip code 544569; NSE: Scrip code TMCV) is India’s largest and a globally renowned manufacturer of utility vehicles, pick-ups, trucks, and buses. With over eight decades of leadership in commercial mobility, the company is known for its innovation, reliability, and performance. Its advanced powertrains, connected technologies, and intelligent fleet solutions support a wide range of applications—from last-mile delivery to public transport while seamlessly driving the wheels of the nation’s economy. Guided by its brand promise Better Always, Tata Motors delivers future-ready solutions that enhance customer experience and drive sustainable growth. The company operates in India and South Korea, with a global presence across Africa, the Middle East, Latin America, Southeast Asia, and SAARC countries.

As per the Composite Scheme of Arrangement sanctioned by the Hon’ble National Company Law Tribunal, Mumbai Bench—amongst Tata Motors Limited, TML Commercial Vehicles Limited (the Company) and Tata Motors Passenger Vehicles Limited—the Company’s name was changed to Tata Motors Limited from TML Commercial Vehicles Limited (effective 29 October 2025), and its equity shares are listed on the BSE Ltd and the National Stock Exchange of India Limited. 

Shyam Metalics Accelerates Expansion Vision; With ₹8,700 Crores Already Deployed

* The steel giant proposes to add fresh capital of ₹2700 Crore to its existing ₹16,060 crore pipeline, executing the balance over the next 3 to 4 years

Shyam Metalics and Energy Limited (“SMEL”), one of India’s leading integrated metal-producing companies unveiled a ₹2,700 crore strategic growth expansion programme. The investment will be funded entirely through internal accruals and is aimed at expanding higher-margin product offerings, driving incremental topline growth, and strengthening long-term earnings quality. The proposed expansion plan will be placed before the Board of Directors for the formal approval at its forthcoming meeting.

Targeted for commissioning by 2029, the multi-pronged investment programme is designed to deepen the Company’s presence in value-added and specialty steel segments, strengthen stainless downstream capabilities, and support a calibrated shift toward a richer product mix with improved margin potential.

This investment is in addition to the Company’s previously announced ₹16,060 crore capex pipeline, of which approximately ₹8,700 crore has already been invested. The remaining balance is under phased execution over the next 3 to 4 years, reinforcing a long-term growth roadmap focused on capacity-led topline expansion alongside profitability enhancement.

Strategic Growth Projects to Drive Higher-Value Revenues

Entry into Special Bar Quality (SBQ) and Specialty Long Products

₹900 crore investment in an 8,00,000 TPA Special Bar Quality (SBQ) and Specialty Wire Rod & Bar Mill will enable Shyam Metalics’ entry into premium steel categories with stronger realizations and higher-margin applications across automotive, engineering, infrastructure, and industrial segments

Expected outcomes:

Increase share of high-realisation value-added products

Improve blended product margins

Support incremental topline growth from premium segments

Strengthen participation in import-substituting specialty grades

Open opportunities in export-oriented and precision steel markets

Stainless Steel Expansion and Downstream Integration

Further advancing its stainless steel growth strategy, ₹1,800 crore investment to expand stainless steel capacity by Key downstream additions include:

Expanded Stainless Steel Melt Shop

Capacity enhancement in Hot Strip Mill

Major Cold Rolling expansion

New Reversible Cold Rolling Mill

Hot Rolled Annealing & Pickling Line

Cold Annealing & Pickling Line

Bright Annealing Line

With these additions, cumulative investment in the stainless steel segment will increase from ₹1,030 crore to ₹2,830 crore, positioning the Company to strengthen its presence in sophisticated value-added stainless applications and reduce import dependence in critical product categories, positioning the Company as a key supplier for high-growth sectors including Automotive, Railways and Coastal Infrastructure.

Strategic Growth and Margin Expansion Rationale

The expansion aligns with Shyam Metalics’ strategy of profitable growth through premiumisation, downstream integration, and capital-efficient expansion.

Key strategic benefits:

Increase share of higher-margin and value-added products

Support incremental topline growth across premium categories

Improve product mix and blended realizations

Drive margin expansion through downstream integration

Enhance export competitiveness in specialized segments

Support import substitution in critical steel categories

Contribute to long-term return accretion and shareholder value

Importantly, the entire investment will be funded through internal accruals, reinforcing the Company’s disciplined capital allocation approach while pursuing growth without balance sheet stress.

Commenting on the developments, Mr. Brij Bhushan Agarwal, Chairman and Managing Director, Shyam Metalics and Energy Limited, said, “This marks the next phase of Shyam Metalics’ evolution from scale-led growth to value-led growth. Our objective is not simply to add capacity, but to build stronger positions in sophisticated, higher-margin product categories that can drive sustainable returns over the long term.

The investments in specialty steel and advanced stainless downstream products will help us move further up the value chain, support import substitution, and strengthen India’s manufacturing capabilities. Importantly, these expansions are being funded entirely through internal accruals, reflecting both our balance sheet strength and disciplined approach to growth. We are confident that the integration of these stainless steel offerings will catalyze manifold growth in both our topline and profit margins.

With these projects, we are building a stronger, more resilient and globally competitive metals platform, one that is aligned with India’s industrial ambitions while delivering long-term value for customers, communities and shareholders.”