Key Financial Figures

Q4 FY26 Standalone Performance (₹ Crore):

  • Total Income: ₹287.70, up 19.45% QoQ from ₹240.86 in Q3 FY26
  • EBITDA: ₹50.10, up 118.12% QoQ from ₹22.97 in Q3 FY26
  • EBITDA Margin: 17.41%, improved by 788 basis points from 9.54% in Q3 FY26
  • Net Profit: ₹12.37, up 442.80% QoQ from ₹2.28 in Q3 FY26
  • Net Profit Margin: 4.30%, improved by 335 basis points from 0.95% in Q3 FY26

Full Year FY26 Standalone Performance (₹ Crore):

  • Total Income: ₹1,066.42 (FY25: ₹1,163.38)
  • EBITDA: ₹138.03 (FY25: ₹143.61)
  • EBITDA Margin: 12.94% (FY25: 12.34%)
  • Net Profit: ₹26.99 (FY25: ₹25.93)
  • Net Profit Margin: 2.53% (FY25: 2.23%)

Leadership and Governance Changes

  • Mr. Anirudh Misra appointed as Additional Non-Executive & Non-Independent Director (subject to shareholder approval), bringing extensive experience in metals, mining, and global commodities trade as Founder of IMR Group.
  • Mr. Vankina Sri Rakesh appointed as Chief Financial Officer (CFO) and Key Managerial Personnel, bringing over four decades of finance experience.
  • Mr. Suresh Kumar Bandi, Whole-Time Director designated as Joint Managing Director, assigned additional responsibility for finance function and will serve as "Whole-Time Director designated as Joint Managing Director & Director – Finance".

Capital Infusion and Financing

  • Received ₹85 crore upfront via allotment of convertible warrants from India Coke and Power Private Limited, IMR Steel Private Limited (IMR Group), and other investors.
  • This is part of ₹350 crore preferential issue approved by the Board.
  • 2.83 crore existing warrants converted into equity shares post receipt of approximately ₹29.92 crore.

Debt Reduction Progress

  • Redeemed ₹43.19 crore towards NCDs in a single tranche (approximately 13% of total debt).
  • This follows ₹24.97 crore repayment over last two quarters, taking total reduction to approximately ₹68.16 crore.
  • Repaid over 20% of long-term debt since October 2025, marking progress towards becoming debt-free in the near future.

Business Development

  • Secured 5-year renewal of MES approval under Ministry of Defence for TMT bar supplies.
  • This reinforces eligibility for government and defence infrastructure projects and strengthens presence in high entry-barrier institutional infrastructure segments.

Management Commentary

Management stated that FY26 was an important year focused on strengthening operational capabilities, improving financial flexibility, and building a stronger platform for long-term growth. The company remained focused on improving efficiencies, optimizing product mix, and strengthening profitability. Significant progress was made towards balance sheet strengthening through capital infusion, debt reduction, and credit profile improvement. The planned expansion into specialty and green steel along with logistics infrastructure development reflects the long-term vision to strengthen the integrated steel platform.

Company Background

Steel Exchange India Limited (SEIL) is part of the Vizag Profiles Group and manufactures TMT rebars under the brand 'SIMHADRI TMT'. Founded in 1999, the company operates an Integrated Steel Plant & Power Unit in Vizianagaram District, Near Visakhapatnam, with sponge iron, billet, rolling mill, and power generation capacities. The company is diversifying into specialty steels under the PLI scheme to support import substitution.