Shyam Metalics & Energy Ltd. · NSE:SHYAMMETL
Shyam Metalics & Energy — Q2 FY27 Earnings Presentation
65 slides from Shyam Metalics & Energy's earnings presentation, Oct 31, 2026
Slide 1: Exchange filing cover letter
SMEL/SE/2026-27/90 October 31, 2026 The Secretary, Listing Department The Manager – Listing Department BSE Limited National Stock Exchange of India Phiroze Jeejeebhoy Towers Limited “Exchange Plaza”, 5th Floor, Plot Dalal Street No. C/1, G Block, Bandra-Kurla Complex, Mumbai 400 001 Bandra (East), M
Slide 2: Investor Presentation | Q2 FY27
Shyam Metalics & Energy Limited Investor Presentation | Q2 FY27 Self-Funded Growth, Value-Led Future Leading Efficient Working AA+ 18.49 MTPA Steel Producer Capital CRISIL, Stable Combined Production Capacity
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Shyam Metalics And Energy Limited (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for
Slide 4: Table of Contents
Table of Contents 1 Company Overview 2 Products and Capabilities 3 Capacity Expansion 4 Financial Performance 5 Strategy & Guidance 6 ESG 7 Annexures Page 3
Slide 5: Company Overview
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Slide 6: Shyam Metalics at a Glance
Shyam Metalics at a Glance One of India's fastest-growing integrated multi metal producers Among Top 5 Among Top 10 Largest 467 MW 18 MW 18.49 MTPA Coal based Sponge Iron Steel Producers Aluminium Foil Total power Renewable Combined Players Scaling Rapidly to Emerge as the Exporter from the generati
Slide 7: Why Invest in Shyam Metalics?
Why Invest in Shyam Metalics? 01 Among Top 10 steel producer 02 Self-funded growth On course to become a leading steel Negligible net debt, supporting expansion producer. through the cycle. Self funded growth, cash discipline, strong 03 20+ years of execution track record 04 2.3x Revenue & 2.8x EBIT
Slide 8: The Transformation Playbook
The Transformation Playbook From commodity to value-added leader – shift in mix yielding better margins Pre-2005 2010–15 2016-21 2022-24 2025-26 2027-31 Foundation Scale-Up IPO & Expansion Diversification with Value Leader Vision 2031 ~3x Return since IPO o Incorporation of Shyam o Sambalpur & Jamur
Slide 9: Growth Roadmap – FY31
Growth Roadmap – FY31 Revenue (₹ Cr) ~2.3x / 2.8x ~16% / 24% Growth in Revenue / EBITDA RoE / RoCE 18,552 42,647 Net Cash +ve 6,297 ~₹8,800 Cr Negative Net Debt despite Capex to be deployed over substantial growth capex FY21 FY26 FY31E next 3-4 year, funded by Debt to Equity capped at 0.5x internal
Slide 10: Enhancing Shareholder Value
Enhancing Shareholder Value Dividend Payout (%) Share Price Since IPO SHYAMMETL NIFTY 50 NIFTY METAL 250% 210% 14% 14% 200% 12% 12% 11% 150% 100% 131% 5% 50% 46% 0% FY21 FY22 FY23 FY24 FY25 FY26 -50% 24-Jun-21 24-Feb-22 24-Oct-22 24-Jun-23 24-Feb-24 24-Oct-24 24-Jun-25 24-Feb-26 24-Oct-26 Particular
Slide 11: Shareholding Information
Shareholding Information Stock Information (30 Sep’26) Key DII Holders NSE Symbol SHYAMMETL BSE Ticker 543299 01 LIC of India 05 Groww MF Market Cap (Rs Cr) 29,578 02 Tata AIA Life 06 SBI MF Shares Outstanding (Cr) 27.91 03 Invesco MF 07 Capitalmind MF Promoter - 74.59% 04 PGIM 08 JM MF Others – 8.9
Slide 12: Tenets Followed at Shyam Metalics
Tenets Followed at Shyam Metalics Capital allocation: 70:20:10 Debt-to-Equity capped at 0.5x Growth, Liquidity, Dividend 11 01 Sustainability and continuity CAPEX funded by accruals; build resilience 02 Debt only for working capital 10 Metallurgy expertise Capex phased to cash flows 09 anchors decis
Slide 13: Eminent Promoters & Professional Board of Directors
Eminent Promoters & Professional Board of Directors Mahabir Prasad Brij Bhushan Agarwal Sanjay Kumar Deepak Agarwal Sheetij Agarwal Dev Kumar Tiwari Agarwal Chairman & Managing Agarwal Director (Finance) & Whole-time Director & Whole-time Director Chairman Emeritus Director (CMD) Joint Managing Dire
Slide 14: Eminent Independent Board of Directors from Diversified Field
Eminent Independent Board of Directors from Diversified Field Chandra Shekar Verma Nand Gopal Khaitan Shashi Kumar Kishan Gopal Baldwa Rajini Mishra Subrata Bhattacharya Ex-Chairman & MD, SAIL Partner at Khaitan & Co Ex-Chairman, Coal India Ltd Fellow member of ICAI Associate member of ICSI Distingu
Slide 15: Product Portfolio
Product Portfolio Our portfolio spans entire metal value chain ensuring quality control and cost competitiveness Core Metal Products Carbon steel Structural Railway Crash TMT Bars Wire Rods SBQ Wires* Steel Wagons* Barrier Flat Raw materials Steel HR Coils* CR Coils Galvalume Roofing Pipe Sheets Iro
Slide 16: Key Corporate Announcements
Key Corporate Announcements Captive solar project Beneficiation plant MoU for Maharashtra Phutamura coal NCLT sanction for commissioned commissioned steel complex block acquisition SVEPL merger into SSPL 8.90 MWp 1.5 MTPA 9 MTPA 51% control Merger Jamuria, West Bengal Sambalpur, Odisha Chandrapur, M
Slide 17: Strategically Located – Raw Material & Supply Chain Advantage
Strategically Located – Raw Material & Supply Chain Advantage 7state of the art manufacturing plants spread across 4 states - West Bengal, Odisha, Madhya Pradesh and Jharkhand Jamuria Pakuria Kharagpur Mangalpur Indore Giridih Sambalpur Out of the 1,827 acres land across the 4 states, 1,338 acres oc
Slide 18: Global Presence Across 35+ Countries and Expanding Rapidly
Global Presence Across 35+ Countries and Expanding Rapidly 21% 13% Export Contribution to Aluminum Foil Products Revenue in FY26 Germany Latvia 17% Austria Belgium Lithuania United Kingdom Czech Republic Ferro Chrome Ferro Macedonia South Korea USA Switzerland Turkey BhutanChina Japan Manganese and
Slide 19: Moving Towards a Diversified Mix Focused on Value Added Products
Moving Towards a Diversified Mix Focused on Value Added Products Revenue Mix Sales Volumes (in lakh tonnes) 85% 79% 74% 77% 77% 28.9 48% 48% 45% 45% 20.2 20.6 21.2 37% 31% 38% 39% 19.1 29% 32% 17.2 15.1 13.3 15% 11.2 8.4 13% 13% 11% 10% 4% 5% 7% 4% 8% 5% 1.8 1.8 1.8 0.8 2.0 0.9 1.1 0.5 0.1 0.2 0.2 F
Slide 20: Products & Capabilities
02 Products & Capabilities
Slide 21: Stainless Steel: A High Growth Vertical
Stainless Steel: A High Growth Vertical Stainless Steel Vertical Overview – On Track to become 2nd Largest Player Leading Player in Forayed into 2 Manufacturing Rolling Mill is 0.15 MTPA Installed Wide product range Stainless Steel Stainless steel units at Pithampur, developed by Italian Capacity fo
Slide 22: Aluminium Division
Aluminium Division Aluminium Foil facility commissioned in Jul’26 Aluminium Plant – Pakuria - West Bengal (Avg Capacity - 0.024 FRP facility likely to be commissioned soon MMTPA), Giridih – Jharkhand & upcoming plant in Odisha Mill with Flat Rolled Aluminium Foil Battery Foil Caster Products (0.018
Slide 23: Foray into Wagon Manufacturing
Foray into Wagon Manufacturing Developed under step -down Strategic entry into rolling The plant to incorporate Wagons types to be Project supports GoI’s subsidiary, stock segment – wagon world class “Uni-Flow” manufactured - Flat, “Make in India” initiative Ramsarup Industries Ltd. manufacturing wi
Slide 24: Capacity Expansion
03 Capacity Expansion
Slide 25: Expansion With Strong Focus on Value Added Products
Expansion With Strong Focus on Value Added Products Integration has enabled greater control on the operating margins - Installed Capacity - Future Capacity Capacity (MTPA) Post Capacity (MTPA) Post FY21 FY22 FY23 FY24 FY25 FY26 H1FY27 FY25 FY26 H1 FY27 Expansion Expansion Iron Pellet 2.40 3.60 4.80
Slide 26: Projects Pending Installation & Status of Cost Incurred
Projects Pending Installation & Status of Cost Incurred Capacities to be Budgeted Capex Capex incurred till Pending Capex Particulars Commissioned (Rs Cr) 30th Sep (Rs Cr) (Rs Cr) (Million MTPA) Intermediates: Beneficiation Plant 1.50 150 80 70 Sponge Iron 1.05 400 327 73 Blast Furnace 0.31 610 356
Slide 27: Projects Pending Installation & Status of Cost Incurred
Projects Pending Installation & Status of Cost Incurred Capacities to be Budgeted Capex Capex incurred till Pending Capex Particulars Commissioned (Rs Cr) 30th Sep (Rs Cr) (Rs Cr) (Million MTPA) Others: Solar Plant (MW) 87 410 4 406 Captive Power (MW) 210 930 682 248 Railway Siding (No. of lines) 2
Slide 28: Projects Pending Installation & Status of Cost Incurred
Projects Pending Installation & Status of Cost Incurred Capacities to be Budgeted Capex Capex incurred till Pending Capex Particulars Commissioned (Rs Cr) 30th Sep (Rs Cr) (Rs Cr) (Million MTPA) Stainless Steel Long: Billet Stainless Steel 0.13 130 130 0 Stainless Steel Flat: Stainless Steel Melt Sh
Slide 29: Projects Pending Installation & Status of Cost Incurred
Projects Pending Installation & Status of Cost Incurred Capacities to be Budgeted Capex Capex incurred till Pending Capex Particulars Commissioned (Rs Cr) 30th Sep (Rs Cr) (Rs Cr) (Million MTPA) Aluminium: Aluminium Mill with Caster 0.10 75 56 19 Battery foil plant 0.01 25 23 2 Aluminium Flat Rolle
Slide 30: Plant Wise Capacities - Existing: Carbon Steel
Plant Wise Capacities - Existing: Carbon Steel Product –Wise Sambalpur Jamuria Mangalpur Kharagpur TOTAL Capacity (MTPA) Odisha West Bengal West Bengal West Bengal (MTPA) Iron Pellets 3 3 6 Speciality Alloys 0.11 0.07 0.04 0.22 DRI (Direct Reduced Iron) 1.35 1.49 0.06 0.15 3.05 Billets 0.87 1.14 2.0
Slide 31: Plant Wise Capacities - Post Expansion: Carbon Steel
Plant Wise Capacities - Post Expansion: Carbon Steel Product –Wise Sambalpur Jamuria Mangalpur Kharagpur TOTAL Capacity (MTPA) Odisha West Bengal West Bengal West Bengal (MTPA) Iron Pellets 3 3 6 Speciality Alloys 0.11 0.07 0.06 0.24 DRI (Direct Reduced Iron) 1.95 1.95 0.06 0.15 4.1 Pig Iron / Blast
Slide 32: Plant Wise Capacities - Existing & Post Expansion: Stainless Steel
Plant Wise Capacities - Existing & Post Expansion: Stainless Steel Product –Wise Sambalpur Pithampur TOTAL Capacity (MTPA) Odisha Madhya Pradesh (MTPA) Billets 0.13 0.12 0.25 SS Melt Shop 0.6 0.6 Stainless HR 0.6 0.6 Stainless CR 0.4 0.4 Stainless 0.15 0.15 SS Bright Bars 0.025 0.025 SS Wire Rods 0.
Slide 33: Synopsis of CAPEX & Growth - Carbon Steel
Synopsis of CAPEX & Growth - Carbon Steel Capacity Present Sales Expected Sales Existing Capacity Increase by in Volume in Volume Growth Particulars Products Post- Expansion (in MMTPA) (MMTPA) FY26 (MMTPA) FY31E (in MMTPA) Carbon Steel: Intermediate Pellet 6.00 6.00 1.18 1.13 -4% Products a. Sponge
Slide 34: Synopsis of CAPEX & Growth - Stainless Steel & Aluminium
Synopsis of CAPEX & Growth - Stainless Steel & Aluminium Capacity Present Sales Expected Sales Existing Capacity in Volume in Volume Particulars Products Post- Expansion Increase by Growth (in MMTPA) (MMTPA) FY26 (MMTPA) FY31E (in MMTPA) Stainless Steel: Intermediate Stainless Steel 0.12 0.85 608% -
Slide 35: Energy Cost through Captive Power: ~80%
Energy Cost through Captive Power: ~ 80% o Power consumed by the plants are primarily produced in-house by the captive power plants and comprises of green power Sambhalpur Jamuria Mangalpur Kharagpur o Captive power plants majorly utilise waste, rejects, heat and gas generated from the operations to
Slide 36: Financial Performance
04 Financial Performance
Slide 37: Shift to Straight-Line Depreciation Ensures Stable Return Profile
Shift to Straight-Line Depreciation Ensures Stable Return Profile Adopting widely accepted industry practice to depict real picture Earlier New method Written Down Value SHIFT Straight-Line Method Higher initial depreciation, Effective this quarter Uniform annual depreciation declining over time ove
Slide 38: Q2 FY27 Highlights
Q2 FY27 Highlights Revenue (Rs. Cr) EBITDA (Rs. Cr) PAT (Rs. Cr) Y-o-Y Q-o-Q Y-o-Y Q-o-Q Y-o-Y Q-o-Q +33% +9% +41% +6% +96% +46% xx xx xx 0.26 0.33 0.26 0.33 0.26 0.33 5,960 812 857 511 5,455 609 351 4,467 260 Q2 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q1 FY27 Q2 FY27 Page 37
Slide 39: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. Cr) Q2 FY27 Q2 FY26 Y-o-Y Q1 FY27 Q-o-Q H1 FY27 H1 FY26 Y-o-Y Revenue from Operations 5,960.2 4,467.4 33.4% 5,455.1 9.3% 11,415.3 8,890.4 28.4% Cost of Material Consumed 4,400.6 3,290.2 4,214.5 8,615.1 6,580.5 Purchases of stock in trade 10.4 52.
Slide 40: Consolidated Balance Sheet Statement
Consolidated Balance Sheet Statement Particulars (Rs. Cr) 30 Sept-26 31 Mar-26 Particulars (Rs. Cr) 30 Sept-26 31 Mar-26 Equity and Liabilities Unaudited Audited Assets Unaudited Audited Equity share capital 278.4 278.3 Non-Current Assets Other equity 12,070.2 11,244.5 Property, plant and equipment
Slide 41: Strong Q2 FY27 Performance
Strong Q2 FY27 Performance Rs. 5,960 crores Rs. 857 crores Rs. 823 crores Rs. 511 crores Revenue from Operations EBITDA Operating EBITDA Profit After Tax 33.4% YoY 40.9% YoY 52.6% YoY 96.2% YoY Sales Volumes (in Tonnes) Revenue Breakup Metallics1 Carbon Steel (Long)2 Carbon Steel (Flat)3 Y-o-Y Q-o-Q
Slide 42: H1 FY27 Performance Highlights
H1 FY27 Performance Highlights Rs. 11,415 crores Rs. 1,670 crores Rs. 1,588 crores Rs. 862 crores 14% 20% Revenue from Operations EBITDA Operating EBITDA Profit After Tax ROE ROCE 28.4% YoY 34.4% YoY 41.9% YoY 56.4% YoY Sales Volumes (in Tonnes) Revenue Breakup Metallics1 Carbon Steel (Long)2 Carbon
Slide 43: Per Tonne Realizations
Per Tonne Realizations All figures in Rs Speciality Alloys Carbon Steel (Long)1 Y-o-Y Q-o-Q Y-o-Y Y-o-Y Q-o-Q Y-o-Y +18.4% +5.8% +20.2% +5.3% -4.5% +3.6% 1,06,613 1,12,792 91,401 1,09,851 44,716 95,253 41,510 45,777 43,723 43,144 Q2FY26 Q1FY27 Q2FY27 H1 FY26 H1 FY27 Q2FY26 Q1FY27 Q2FY27 H1 FY26 H1 F
Slide 44: Per Tonne Realizations
Per Tonne Realizations All figures in Rs Metallics* Aluminium Foil Y-o-Y Q-o-Q Y-o-Y Y-o-Y Q-o-Q Y-o-Y +5.1% -9.3% +11.7% +27.7% +2.6% +29.9% 22,399 20,325 19,072 21,307 4,83,467 4,96,215 4,89,742 19,346 3,88,570 3,77,082 Q2FY26 Q1FY27 Q2FY27 H1 FY26 H1 FY27 Q2FY26 Q1FY27 Q2FY27 H1 FY26 H1 FY27 Page
Slide 45: Strong Debt Profile
Strong Debt Profile Gross Debt (Rs. Cr) Net Debt^ (Rs. Cr) Gross Debt 1,333 246 Net Debt 192 951 957 785 768 534 577 -477 -378 -562 -1,062 -1,514 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 Sep-26 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 Sep-26 Gross Debt / Equity Net Debt / EBITDA 0.30Net Debt / EBI
Slide 46: Strong Balance Sheet - Flexibility of Growth
Strong Balance Sheet - Flexibility of Growth Conservatively Leveraged + Disciplined Capital Allocation strategy Operating Efficiency Drives = Better Working Capital Management Better Return Metrics Working Capital (days) Return ratios (%) -16 Sep'26 Sep'26 20% 153 14% 119 18 Sep-26 ROCE ROE Inventor
Slide 47: Disciplined Capital Allocation
Disciplined Capital Allocation Cashflow from Operations (Rs. Cr) CAPEX (Rs. Cr) Chart Title Chart Title 1,964 2,023 2,130 2,046 1,689 1,794 1,518 1,544 1,543 1,578 1,277 1,291 FY22 FY23 FY24 FY25 FY26 H1FY27 FY22 FY23 FY24 FY25 FY26 H1FY27 Cash & Cash Equivalents (Rs. Cr) CAPEX as % of Cashflow from
Slide 48: Exponential Volume Growth
Exponential Volume Growth Volumes Volumes – Q2 FY27 (in Lakh tonnes) (in Lakh tonnes) volume growth % +26% 15.49 Actual volume 12.26 H1 FY27 volume Projected volumes 61.62 Q2 FY26 Q2 FY27 49.46 Sales Volumes – H1 FY27 39.39 (in Lakh tonnes) 33.44 36.40 Sales+20% Volumes 29.32 24.39 29.32 FY23 FY24 F
Slide 49: Strategy & Guidance
05 Strategy & Guidance
Slide 50: Shyam Metalics: Vision 2031
Shyam Metalics: Vision 2031 Building India's Most Diversified & Value-Accretive Metals Platform REVENUE EBITDA ROCE ROE Debt/Cash Accrual FY26 FY31 Cash Net Gross Accrual Debt Debt FY26 FY31 FY26 FY31 FY31 ₹957 Cr ~₹4,226 Cr FY31 ₹18,552 Cr ~₹42,500+ Cr ₹2,333 Cr ~₹6,600+ Cr 24% 16% (₹378) Cr ~(₹912
Slide 51: Financial Roadmap to Vision 2031
Financial Roadmap to Vision 2031 New High-Value Product Mix Transforming EBITDA Composition REVENUE EBITDA VOLUME (MT) REVENUE (₹ CR) EBITDA (₹ CR) PRODUCT SHARE (%) SHARE (%) FY26 FY31E FY26 FY31E FY26 FY31E FY26 FY31E FY26 FY31E Stainless Steel 94,102 6,99,733 1,322 11,969 7% 28% 77 1,108 3% 18% A
Slide 52: ESG
06 ESG
Slide 53: ESG – Impact Metrics
ESG – Impact Metrics The Shyam Commitment – Efficiency in action | Responsibility in intent | Sustainability engineered at every step POWER WATER SUN WIND 782 MW ZLD 20.43 MWP 35,000+ Tonnes Captive Power (Post Expansion) Zero Liquid Discharge & Extensive Solar Systems CO2 Emissions Avoided Annually
Slide 54: Environment
Environment Nurturing Nature. Ensuring a Sustainable Tomorrow Plantation and Rainwater Harvesting Promotion of Clean Renovation of Water Green Cover Rainwater harvesting systems Energy Bodies Large-scale plantation to conserve water and Driving the transition to clean Rejuvenating and restoring driv
Slide 55: Driving the Transition to Clean Mobility
Driving the Transition to Clean Mobility Electrifying Our Vehicle Fleet As part of its commitment to sustainability and decarbonisation, Shyam Metalics is transitioning its plant-owned vehicle fleet to electric mobility, covering both light and heavy motor vehicles. This initiative reflects the comp
Slide 56: Social
Social Empowering Communities. Enriching Lives. Skill Development • Sewing & Tailoring Training Centres • Handicrafts & Agarbatti Making Training • Mushroom Cultivation Programs • Computer Training Centres Healthcare & Community Well-Being • Medical Vans • Drinking Water Facility • Homeopathic Clini
Slide 57: CSR Initiatives
CSR Initiatives • Improving water bodies SUSTAINABILITY • Annual medical health and eye checkup • Plantation work campaign offering free medicine and • Installation of solar streetlight spectacles to villagers • Solar irrigation Pumps • Medical mobile van in 17-18 villages in • Developing areas arou
Slide 58: CSR Initiatives
CSR Initiatives SEHAT UNNATI VIDYA DHARA Skill Development & Education & Youth Healthcare & Well-being Sustainability & Environment Livelihoods Development Improving access to healthcare, Building skills and livelihoods to Supporting quality education, Supporting environmental preventive care and we
Slide 59: Community Building & Welfare of the Immediate Locality
Community Building & Welfare of the Immediate Locality has always been Our Top Priority Safe Drinking Water Education & Skill Blood Donation Camp Healthcare Summer water tankers for Development 100+ employee volunteers at 95,000 free OPD visits annually 38,397 residents 38 volunteers teaching in 21
Slide 60: Strengthening ESG Framework
Strengthening ESG Framework ESG integration strengthening governance, operational resilience and long-term sustainability 60 63.7 50 55 SES ESG Research NSE Sustainability CFC Finlease Private Private Ltd. Ratings and Analytics Limited CRISIL ESG Ratings & Analytics Limited Limited 13-02-2026 17-01-
Slide 61: Annexure
07 Annexure
Slide 62: Strengthening Brand 'SEL Tiger'
Strengthening Brand ‘SEL Tiger’ TMT BARS TMT are used for the construction of buildings, transmission towers, industrial sheds, structures, road, dam and in other various infrastructures. SMEL sells the best quality TMT primarily in the states of West Bengal, Odisha, Bihar, Jharkhand, Tripura, Sikki
Slide 63: A Rising Force in India's Steel Landscape
A Rising Force in India’s Steel Landscape RECOGNISED Amongst India’s Top Steel Entrepreneurs STRONG FOUNDATION Built on Scale, Integration & Operational Excellence GROWTH MOMENTUM Well positioned to create long-term shareholder value Shyam Metalics recognized among India's Top Steel Players, well-po
Slide 64: Long Term Rating at CRISIL AA+/ Outlook: Stable
Long Term Rating at CRISIL AA+/ Outlook: Stable Current Rating CRISIL AA+ Outlook Stable CRISIL AA+ Latest Review Nov-25 (Stable) CRISIL AA CRISIL AA CRISIL AA CRISIL AA (Stable) (Stable) (Stable) (Positive) CRISIL AA- (Stable) CRISIL AA- (Positive) FY20 FY21 FY22 FY23 FY24 FY25 Nov-25 CRISIL AA+ (S
Slide 65: Let's Talk
LET'S TALK Self-funded growth story | Strong execution track record | Negligible Net Debt | 210% return since IPO Shyam Metalics & Energy Limited Investor Relations: Ernst & Young LLP Mr. Deepak Agarwal / Pankaj Harlalka Mr. Diwakar Pingle [email protected] [email protected]
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