Steel Exchange India Limited submitted a revised press release under Regulation 30 of SEBI LODR Regulations regarding its Q2 FY27 financial results and operational updates.

Financial Performance (Standalone Unaudited)

Q2 FY27 Results (YoY Comparison):

  • Total Income: ₹343.35 Cr (vs ₹232.91 Cr in Q2 FY26), up 47.42%
  • EBITDA: ₹38.21 Cr (vs ₹28.62 Cr in Q2 FY26), up 33.50%
  • PAT: ₹17.62 Cr (vs ₹2.11 Cr in Q2 FY26), up 734.09%
  • PAT Margin: 5.13% (vs 0.91% in Q2 FY26), expansion of 423 bps

H1 FY27 Results (YoY Comparison):

  • Total Income: ₹614.06 Cr (vs ₹537.86 Cr in H1 FY26), up 14.17%
  • EBITDA: ₹73.45 Cr (vs ₹64.97 Cr in H1 FY26), up 13.05%
  • PAT: ₹32.65 Cr (vs ₹12.34 Cr in H1 FY26), up 164.54%
  • PAT Margin: 5.32% (vs 2.29% in H1 FY26), expansion of 302 bps

Operational Highlights

  • Achieved all-time high quarterly Re-Bar production of 69,617 MT in Q2 FY27
  • Record monthly production in August 2026 (24,824 MT) and September 2026 (25,095 MT)
  • Upgraded Reheating Furnace now operational, adding ~27% to monthly rolling capacity
  • Finance costs reduced by 27% YoY to ₹14.11 Cr

Financial Restructuring

  • Reduced total debt by approximately ₹102 Cr since December 2025 (~30% of total debt)
  • Further ₹16 Cr debt repaid during Q2 FY27
  • Strengthened equity base through preferential allotment and conversion of 8,04,23,279 warrants into equity shares, approved by Board on November 04, 2026

Credit Rating Upgrade

  • Infomerics upgraded long-term rating by two notches from IVR BBB-/Stable to IVR BBB+/Stable
  • Short-term rating upgraded from IVR A3 to IVR A2
  • NCD rating upgraded to IVR BBB+/Stable
  • Expected to lower the Company's cost of borrowing

Strategic Developments

  • Signed long-term MoU with NMDC Limited for iron ore supply (Fe 61-63%+ grade) from NMDC's upcoming Visakhapatnam stockpile
  • SIMHADRI TMT received approval for use in Amaravati Capital City construction
  • Company's empanelment with Military Engineer Services (MES), Ministry of Defence renewed for five years
  • Advancing diversification into value-added specialty steels under Central Government's Production Linked Incentive (PLI) Scheme

Management Commentary

Management stated that Q2 FY27 delivered a "structural profitability breakthrough" with net profit rising over 8-fold, demonstrating how operational debottlenecking and financial restructuring are translating into bottom-line earnings. They highlighted strong multi-year demand visibility through NMDC raw material security, Amaravati approval, and defence empanelment renewal.

Company Background

Steel Exchange India Limited (SEIL) is part of Vizag Profiles Group, manufacturing TMT rebars under brand 'SIMHADRI TMT'. Operates Integrated Steel Plant & Power Unit in Vizianagaram District, near Visakhapatnam with sponge iron, billet, rolling mill, and power generation capacities. For FY26, reported Total Income of ₹1,066.42 Cr, EBITDA of ₹138.03 Cr and Net Profit of ₹26.99 Cr.