Shares of Steel Exchange India Ltd (SEIL) rose as much as 9% on Monday after the company received approval from the Andhra Pradesh Capital Region Development Authority (APCRDA) for the use of its Simhadri TMT bars in the Amaravati Capital City project.
The stock touched an intraday high of Rs 12.53, compared with the previous close of Rs 11.52. Shares were trading around Rs 12.13, up 5.29%.
The company has a market capitalisation of Rs 1,512 crore and trades at a price-to-earnings ratio of 57.57.
APCRDA approves Simhadri TMT bars
According to the company, APCRDA has approved the following grades for use in Amaravati projects:
- Fe500D
- Fe550
- Fe550D
- Fe550D CRS
The approval covers ongoing and upcoming construction works under the capital city development programme.
Access to Rs 65,000 crore project
The Andhra Pradesh government is pushing ahead with the Rs 65,000 crore Amaravati Capital City project.
The approval has also been circulated to major EPC and construction companies associated with the development.
This gives Steel Exchange India visibility within the project’s supply chain and positions it as an approved steel supplier.
Integrated manufacturing facility
Steel Exchange India operates an integrated steel plant near Visakhapatnam, located in Vizianagaram district.
The facility includes:
- Sponge iron units.
- Billet manufacturing.
- Rolling mills.
- Power generation facilities.
The integrated setup provides supply and cost advantages for infrastructure projects.
Quarterly performance
For Q4 FY26, the company reported:
| Particulars | Q4 FY26 | Q4 FY25 |
|---|---|---|
| Revenue | Rs 287 crore | – |
| Operating profit | Rs 50 crore | – |
| Operating margin | 17% | 11% |
| Net profit | Rs 12 crore | Rs 5 crore |
Net profit more than doubled compared with the same quarter last year.
FY26 performance
For the full year:
- Revenue stood at Rs 1,059 crore, compared with Rs 1,140 crore in FY25.
- Operating profit increased to Rs 131 crore from Rs 124 crore.
- Net profit rose to Rs 27 crore from Rs 26 crore.
About the company
Founded in 1999, Steel Exchange India Ltd, part of the Vizag Profiles Group, manufactures TMT bars under the Simhadri TMT brand.
The company supplies products to:
- Infrastructure projects.
- Defence projects.
It is also expanding into specialty steel production under the government’s PLI scheme.
TL;DR:
Steel Exchange India rose up to 9% after APCRDA approved its Simhadri TMT bars for use in the Rs 65,000 crore Amaravati Capital City project, strengthening the company’s presence in Andhra Pradesh’s infrastructure ecosystem.
AI summary
- Steel Exchange India gained up to 9%.
- APCRDA approved Simhadri TMT bars for Amaravati projects.
- The project size is estimated at Rs 65,000 crore.
- Q4 FY26 net profit rose to Rs 12 crore from Rs 5 crore.
- The company operates an integrated steel plant in Andhra Pradesh.
