DBT Bureau
Pune, 13 Oct 2026
Steel Exchange India Limited recorded significant progress in H1 FY27. The half was marked by its highest-ever monthly and quarterly Re-Bar production, a two-notch credit rating upgrade, significant debt reduction, a long-term raw material partnership with NMDC and key institutional approvals.
H1 FY27 Key Highlights
Financial Performance: Steel Exchange India Limited delivered a strong operational performance in Q2 FY2027, with consolidated revenue registering approximately 45% YoY and 25 % QoQ growth.
Record Production – Highest-Ever Month and Quarter: Achieved its highest-ever quarterly Re-Bar production of 69,617.424 MT in Q2 FY27 (July–September 2026), with September 2026 setting a new monthly record of 25,095.035 MT, surpassing the previous high of 24,823.509 MT in August 2026. The newly commissioned Reheating Furnace (RHF) has increased the Company’s monthly Re-Bar production capability by approximately 27%.
Credit Rating Upgrade – Two Notches Higher: Infomerics upgraded the Company’s long-term rating by two notches from IVR BBB-/Stable to IVR BBB+/Stable and its short-term rating from IVR A3 to IVR A2. Rated bank facilities were enhanced from ₹200 Crore to ₹359.63 Crore, taking the total rated quantum to ₹558.19 Crore. This is the Company’s second successive upgrade by Infomerics.
Deleveraging – ₹102 Crore Debt Repaid: Reduced total debt by ₹102 Crore, including the redemption of ₹43.19 Crore of NCDs and progressive term loan prepayments, discharging around 30% of its long-term debt since December 2025, supported by operational cash flows and strategic equity inflows mainly from IMR Group, a Switzerland-headquartered metals and mining conglomerate.
NMDC MoU – Securing Raw Material Supply: Signed a strategic MoU with NMDC Limited for the longterm supply of consistent-grade iron ore fines (Fe 61–63% and above) from NMDC’s upcoming Buffer Stockpile & Blending Yard at Visakhapatnam, with a primary four-year term that lays the foundation for future long-term agreements.
Institutional Approvals – SIMHADRI TMT: Received approval from the Andhra Pradesh Capital Region Development Authority (APCRDA) for the use of SIMHADRI TMT in the ₹65,000 Crore Amaravati Capital City projects, and secured a five-year renewal of its approval from the Military Engineer Services (MES) under the Ministry of Defence.
Steel Exchange India Ltd (NSE: STEELXIND) was trading at ₹10.70 per share on October 13, 2026, at 1:17 PM IST.
