Global Materials | Industrials | Commodities

Rahul Jain

Commodities

<ul>
<li>Commodity trends remain bifurcated: gold, copper, and uranium are surging, while iron ore, and coal struggle under oversupply and weak demand.</li>
<li>Top picks: <a href="https://www.smartkarma.com/entities/zijin-mining-group-co-ltd" target="_blank" data-smartkarma-citation="entities:24628:1" rel="noopener">Zijin Mining Group (601899 CH)</a><a href="https://www.smartkarma.com/entities/shandong-gold-mining-co-ltd-4527fb98-bb5d-4d74-91fe-66f9c0224eb3" target="_blank" data-smartkarma-citation="entities:27455:1" rel="noopener">Shandong Gold Mining (1787 HK)</a><a href="https://www.smartkarma.com/entities/jsw-steel-ltd" target="_blank" data-smartkarma-citation="entities:18561:1" rel="noopener">JSW Steel Ltd (JSTL IN)</a>, <a href="https://www.smartkarma.com/entities/lloyds-metals-energy-ltd" target="_blank" data-smartkarma-citation="entities:15467:1" rel="noopener">Lloyds Metals &amp; Energy (LYDM IN)</a> , <a href="https://www.smartkarma.com/entities/paladin-energy-ltd" target="_blank" data-smartkarma-citation="entities:10117:1" rel="noopener">Paladin Energy (PDN AU)</a> </li>
<li>Top shorts: <a href="https://www.smartkarma.com/entities/hindalco-industries-ltd" target="_blank" data-smartkarma-citation="entities:18490:1" rel="noopener">Hindalco Industries (HNDL IN)</a> , <a href="https://www.smartkarma.com/entities/nippon-steel-corporation" target="_blank" data-smartkarma-citation="entities:961:1" rel="noopener">Nippon Steel Corporation (5401 JP)</a><a href="https://www.smartkarma.com/entities/coal-india-ltd" target="_blank" data-smartkarma-citation="entities:9117:1" rel="noopener">Coal India Ltd (COAL IN)</a><a href="https://www.smartkarma.com/entities/tata-steel-ltd" target="_blank" data-smartkarma-citation="entities:20934:1" rel="noopener">Tata Steel Ltd (TATA IN)</a> </li>
</ul>


Commodity trends remain bifurcated: gold, copper, and uranium are surging, while iron ore, and coal struggle under oversupply and weak demand.
Top picks: Zijin Mining Group (601899 CH)Shandong Gold Mining (1787 HK)JSW Steel Ltd (JSTL IN), Lloyds Metals &amp; Energy (LYDM IN) , Paladin Energy (PDN AU) 
Top shorts: Hindalco Industries (HNDL IN) , Nippon Steel Corporation (5401 JP)Coal India Ltd (COAL IN)Tata Steel Ltd (TATA IN) 


Global Metals & Mining Playbook – July 2025

Equity Bottom-Up

Shyam Metalics and Energy / Equity Bottom-Up

<ul>
<li>Shyam Metalics reported robust FY25 results with 15% revenue growth and 21% EBITDA rise, driven by higher volumes and a shift toward value-added products.</li>
<li>The company is executing a ₹10,025 Cr capex plan to double capacity by FY27, targeting high-margin segments like stainless steel and aluminium foil with backward integration.</li>
<li>With zero net debt, strong cash flows, and a forward P/E of ~14×, Shyam Metalics offers a rare blend of growth, capital discipline, and low leverage in the steel sector.</li>
</ul>


Shyam Metalics reported robust FY25 results with 15% revenue growth and 21% EBITDA rise, driven by higher volumes and a shift toward value-added products.
The company is executing a ₹10,025 Cr capex plan to double capacity by FY27, targeting high-margin segments like stainless steel and aluminium foil with backward integration.
With zero net debt, strong cash flows, and a forward P/E of ~14×, Shyam Metalics offers a rare blend of growth, capital discipline, and low leverage in the steel sector.


Shyam Metalics & Energy Ltd (NSE: SHYAMMETL) – A Capital-Efficient Growth Play in Indian Metals

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>
<a href="https://www.smartkarma.com/entities/prakash-industries-ltd" target="_blank" data-smartkarma-citation="entities:9614:1" rel="noopener">Prakash Industries (PKI IN)</a> Bhaskarpara Coal Mine is now received all the government approvals ensuring stable, self-supplied coal for steel production as well as open market sale.</li>
<li>This development reduces raw material costs, boosts EBITDA potential, and strengthens PIL's valuation amid past corporate governance concerns.</li>
<li>PIL has manageable debt and with rising EBITDA, the company is available at a very attractive valuation compared to its peers.</li>
</ul>



Prakash Industries (PKI IN) Bhaskarpara Coal Mine is now received all the government approvals ensuring stable, self-supplied coal for steel production as well as open market sale.
This development reduces raw material costs, boosts EBITDA potential, and strengthens PIL's valuation amid past corporate governance concerns.
PIL has manageable debt and with rising EBITDA, the company is available at a very attractive valuation compared to its peers.


The Beat Ideas: Prakash Industries Limited, A Mining Catalyst

Godawari Power and Ispat / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/godawari-power-and-ispat-limited" target="_blank" data-smartkarma-citation="entities:5939:1" rel="noopener">Godawari Power and Ispat (GODPI IN)</a> is fully integrated steel manufacturer with a diverse portfolio encompassing iron ore mining, pellet production, sponge iron, steel billets, ferroalloys, and power generation.</li>
<li>Net Cash Balance Sheet, Mining Expansion, and upcoming Integrated Steel Plant provide huge potential for the captive consumption.</li>
<li>Execution of the capex plan within the stipulated timeframe is the key risk.</li>
</ul>



Godawari Power and Ispat (GODPI IN) is fully integrated steel manufacturer with a diverse portfolio encompassing iron ore mining, pellet production, sponge iron, steel billets, ferroalloys, and power generation.
Net Cash Balance Sheet, Mining Expansion, and upcoming Integrated Steel Plant provide huge potential for the captive consumption.
Execution of the capex plan within the stipulated timeframe is the key risk.


The Beat Ideas: GPIL- Low Cost Mining with Upcoming Steel Plant

India

Godawari Power and Ispat Ltd. manufactures steel.  The Company produces steel billets.

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Godawari Power and Ispat (GODPI IN)

Global Metals & Mining Playbook – July 2025

Commodity trends show gold, copper, and uranium surging, while iron ore and coal struggle. Top picks include Zijin Mining Group, Shandong Gold...

Rahul Jain

Shyam Metalics & Energy Ltd (NSE: SHYAMMETL) – A Capital-Efficient Growth Play in Indian Metals

Shyam Metalics posts strong FY25 results, plans to double capacity by FY27 with focus on high-margin segments, showcasing growth potential and...

Rahul Jain

The Beat Ideas: Prakash Industries Limited, A Mining Catalyst

Prakash Industries secures government approvals for coal mine, reducing costs and boosting EBITDA potential, strengthening valuation.

Sudarshan Bhandari

The Beat Ideas: GPIL- Low Cost Mining with Upcoming Steel Plant

Godawari Power and Ispat is a fully integrated steel manufacturer with diverse operations and huge potential for captive consumption, but...

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Global Metals & Mining Playbook – July 2025

​Commodity trends show gold, copper, and uranium surging, while iron ore and coal struggle. Top picks include Zijin Mining Group, Shandong Gold...

Rahul Jain

Shyam Metalics & Energy Ltd (NSE: SHYAMMETL) – A Capital-Efficient Growth Play in Indian Metals

​Shyam Metalics posts strong FY25 results, plans to double capacity by FY27 with focus on high-margin segments, showcasing growth potential and...

Rahul Jain

The Beat Ideas: Prakash Industries Limited, A Mining Catalyst

​Prakash Industries secures government approvals for coal mine, reducing costs and boosting EBITDA potential, strengthening valuation.

Sudarshan Bhandari

The Beat Ideas: GPIL- Low Cost Mining with Upcoming Steel Plant

​Godawari Power and Ispat is a fully integrated steel manufacturer with diverse operations and huge potential for captive consumption, but...

Sudarshan Bhandari

Commodity trends show gold, copper, and uranium surging, while iron ore and coal struggle. Top picks include Zijin Mining Group, Shandong Gold...

Shyam Metalics posts strong FY25 results, plans to double capacity by FY27 with focus on high-margin segments, showcasing growth potential and...

Prakash Industries secures government approvals for coal mine, reducing costs and boosting EBITDA potential, strengthening valuation.

Godawari Power and Ispat is a fully integrated steel manufacturer with diverse operations and huge potential for captive consumption, but...