Divya Agarwal
VISAKHAPATNAM (Andhra Pradesh) [India], October 12: Steel Exchange India Limited (NSE: STEELXIND | BSE: 534748), one of South India’s leading integrated steel manufacturers and the company behind the SIMHADRI TMT brand, has shared a business update for Q2 FY27 with the stock exchanges ahead of its financial results. The update points to strong momentum, powered by record production and improving operating efficiencies – a significant step forward in the Company’s turnaround journey.
Key Business Highlights – Q2 FY27 (Provisional):
- Robust Revenue Growth: Provisional consolidated revenue of approximately ₹340 Crore, up ~45% YoY and ~25% QoQ, on the back of strong demand and execution.
- Record Volumes: Highest-ever quarterly Re-Bar production of 69,465 MT, driving economies of scale and operating leverage.
- Best-ever Month: Production touched a record 25,095.035 MT in September 2026, reflecting continuous productivity gains.
- Higher Yields: Operationalisation of the Reheating Furnace (RHF) has structurally improved manufacturing yields and capacity utilisation.
- Value-Added Growth: Diversification into specialty steels under the PLI scheme opens up higher-margin revenue streams and supports import substitution under Atmanirbhar Bharat.
Business Momentum: Q2 FY27 marks another important milestone in the Company’s turnaround. The sharp rise in revenue points to sustained improvement in underlying business performance, while record Re-Bar output underlines the growing momentum across manufacturing operations. Going forward, the Company remains focused on improving capacity utilisation, strengthening operational efficiencies and building a sustainable platform for long-term growth.
Note: figures above are provisional and unaudited, and remain subject to review by the Statutory Auditors and approval by the Board of Directors.
About Steel Exchange India Limited
Steel Exchange India Limited (SEIL), part of the Vizag Profiles Group, is a leading manufacturer of TMT rebars under the brand ‘SIMHADRI TMT’. Founded in 1999, the Company has grown from a steel trading and online platform into one of the most trusted integrated steel manufacturers in Andhra Pradesh and Telangana.
SEIL operates an Integrated Steel Plant & Power Unit in Vizianagaram District, near Visakhapatnam. These facilities house sponge iron, billet, rolling mill, and power generation capacities, enabling complete backward and forward integration for long steel production.
With a strong brand presence and supply track record to the Armed Forces and critical infrastructure projects, SEIL is known for quality and reliability. In line with the ‘Atmanirbhar Bharat’ vision, the Company is diversifying into specialty steels under the PLI scheme to support import substitution and expand its value-added offerings.
Disclaimer
Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
