Steel Exchange India Limited (NSE: STEELXIND | BSE: 534748), an integrated steel manufacturer and producer of the SIMHADRI TMT brand, filed a business update for H1 FY27 pursuant to Regulation 30 of SEBI Listing Regulations.

Financial Performance

  • Consolidated revenue registered approximately 45% Year-over-Year (YoY) growth in Q2 FY2027
  • Revenue showed 25% Quarter-over-Quarter (QoQ) growth in Q2 FY2027

Production Highlights

  • Achieved highest-ever quarterly Re-Bar production of 69,617.424 MT in Q2 FY27 (July–September 2026)
  • Set new monthly production record of 25,095.035 MT in September 2026
  • Previous monthly high was 24,823.509 MT in August 2026
  • Newly commissioned Reheating Furnace (RHF) increased monthly Re-Bar production capability by approximately 27%

Credit Rating Upgrade

  • Infomerics upgraded the Company's long-term rating by two notches from IVR BBB-/Stable to IVR BBB+/Stable
  • Short-term rating upgraded from IVR A3 to IVR A2
  • This represents the Company's second successive upgrade by Infomerics
  • Rated bank facilities enhanced from ₹200 Crore to ₹359.63 Crore
  • Total rated quantum increased to ₹558.19 Crore

Debt Reduction

  • Reduced total debt by ₹102 Crore
  • Redeemed ₹43.19 Crore of NCDs
  • Made progressive term loan prepayments
  • Discharged approximately 30% of long-term debt since December 2025
  • Debt reduction supported by operational cash flows and strategic equity inflows from IMR Group, a Switzerland-headquartered metals and mining conglomerate

Strategic Partnerships

  • Signed Memorandum of Understanding (MoU) with NMDC Limited for long-term supply of consistent-grade iron ore fines (Fe 61–63% and above)
  • Supply will come from NMDC's upcoming Buffer Stockpile & Blending Yard at Visakhapatnam
  • Primary term of the agreement is four years
  • MoU lays foundation for future long-term agreements

Institutional Approvals

  • Received approval from Andhra Pradesh Capital Region Development Authority (APCRDA) for use of SIMHADRI TMT in ₹65,000 Crore Amaravati Capital City projects
  • Secured five-year renewal of approval from Military Engineer Services (MES) under Ministry of Defence

Forward-Looking Objectives

  • Progressively improving capacity utilisation at Rolling Mill to realize full potential of expanded Re-Bar capacity
  • Building on NMDC MoU towards long-term agreements to strengthen backward integration and logistics efficiency
  • Expanding participation in large-scale infrastructure, government and defence projects through SIMHADRI TMT
  • Diversifying into specialty steels under PLI scheme
  • Pursuing expansion into green steel and logistics infrastructure
  • Continuing disciplined capital management with objective of becoming debt-free in the near future

Disclaimer

The document contains forward-looking statements subject to risks and uncertainties including government actions, local, political or economic developments, technological risks, and other factors that could cause actual results to differ materially. The Company undertakes no obligation to publicly update these forward-looking statements.