Steel Exchange India Limited (SEIL) has submitted a regulatory filing pursuant to Regulation 30 of SEBI LODR Regulations, 2015, intimating about a press release regarding significant business development.
The company has received formal approval from the Andhra Pradesh Capital Region Development Authority (APCRDA) for the use of its SIMHADRI TMT products in ongoing and upcoming construction works under the Amaravati Capital City development program. The approval covers specific product grades including Fe550, Fe500D, Fe550D and Fe550D CRS grades.
This approval enables the company's products to be supplied for key infrastructure projects being undertaken by APCRDA. The approval has been circulated to leading EPC and construction companies associated with Amaravati's development, strengthening SEIL's visibility across the project execution ecosystem.
The Amaravati Capital City project represents a massive ₹65,000 crore government initiative, positioning Steel Exchange India Limited as a key primary-source vendor for this development.
Financial Performance
For FY26, the company reported:
- Total Income: ₹1,066.42 Crore
- EBITDA: ₹138.03 Crore
- Net Profit: ₹26.99 Crore
Company Background
Steel Exchange India Limited (SEIL) is part of the Vizag Profiles Group and is a leading manufacturer of TMT rebars under the brand 'SIMHADRI TMT'. Founded in 1999, the company has evolved from steel trading into an integrated steel manufacturer in Andhra Pradesh and Telangana.
SEIL operates an Integrated Steel Plant & Power Unit in Vizianagaram District, Near Visakhapatnam, with facilities including sponge iron, billet, rolling mill, and power generation capacities. The company has a strong supply track record to the Armed Forces and critical infrastructure projects.
Management Commentary
The management stated that receiving APCRDA approval is a significant recognition of their product quality, manufacturing capabilities and commitment to serving critical infrastructure projects. They view this as strengthening their market presence in Andhra Pradesh and supporting their strategy of expanding participation in large-scale infrastructure and construction projects.