Steel Exchange India Limited (SEIL) submitted a revised intimation of a press release to BSE Limited and the National Stock Exchange of India Limited, pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015. The enclosed press release details the company's unaudited standalone and consolidated financial results for the first quarter ended June 30, 2026 (Q1 FY27).
Nature of Disclosure and Key Financial Figures
The disclosure is a quarterly earnings announcement. Key financial figures for Q1 FY27 are as follows:
- Total Income: ₹27,070.92 lakhs (₹270.71 crore)
- Total Expenses: ₹25,568.36 lakhs (₹255.68 crore)
- Net Profit: ₹1,502.56 lakhs (₹15.03 crore), representing a 46.89% year-on-year (YoY) increase from ₹1,022.88 lakhs in Q1 FY26.
- Net Profit Margin: 6.00%, up from 3.00% in Q1 FY26, an improvement of 220 basis points.
- Basic & Diluted EPS: ₹0.12, up 33.33% YoY from ₹0.09.
- Finance Costs: ₹1,398.16 lakhs, down from ₹1,889.06 lakhs in Q1 FY26.
Strategic Capital Inflow and Balance Sheet Impact
The company successfully executed capital-raising activities that significantly strengthened its balance sheet:
- Received ₹14,089.50 lakhs (₹140.90 crore) upon the allotment of Convertible Equity Share Warrants.
- Allotted 2,82,97,870 Equity Shares upon the conversion of warrants, bringing in a premium amount of ₹3,989.99 lakhs (₹39.90 crore).
- These inflows propelled the company's Net Worth to an all-time high of ₹67,276.25 lakhs (₹672.76 crore).
- The Debt-Equity Ratio was drastically reduced to 0.27x from 0.48x in Q1 FY26.
- The Asset Coverage Ratio for secured borrowings strengthened to 3.77x (up from 2.91x).
- The Current Ratio improved to 2.57x.
- The Interest Service Coverage Ratio stood at 2.52x.
Management Commentary
The management stated that the performance validates the company's structural transition towards an efficient, low-debt platform. They cited a focus on cost-efficiencies, lower borrowing costs, and the strategic capital inflows as key drivers. The company is positioning itself to capitalize on India's infrastructure push and support sustainable long-term expansion.
Company Background
Steel Exchange India Limited (SEIL) is described as a premier integrated steel manufacturer in South India, part of the Vizag Profiles Group. It manufactures TMT rebars under the brand 'SIMHADRI TMT'. The company operates an Integrated Steel Plant & Power Unit in Vizianagaram District, near Visakhapatnam, with sponge iron, billet, rolling mill, and power generation capacities. For FY26, the company reported a Total Income of ₹1,066.42 crore, EBITDA of ₹138.03 crore, and Net Profit of ₹26.99 crore.