Steel Exchange India Ltd Reports Record Production and Debt Reduction in H1 FY27
Steel Exchange India Ltd achieved record Re-Bar production in Q2 FY27, with September 2026 setting a new monthly record. Consolidated revenue grew 45% YoY and 25% QoQ. The company reduced debt by ₹102 Crore and signed an MoU with NMDC for raw material supply. Credit rating was upgraded by two notches.
The record production, substantial debt reduction, credit rating upgrade, and strategic raw material sourcing agreement are all material events that are likely to have a significant positive impact on the company's financial health and market position.
The company reported record production, significant debt reduction, a credit rating upgrade, and a strategic partnership, all indicating positive operational and financial performance.
Steel Exchange India Limited (SEIL), a prominent integrated steel manufacturer and the company behind the SIMHADRI TMT brand, has announced significant achievements in the first half of FY27 (H1 FY27).
The company recorded its highest-ever monthly and quarterly Re-Bar production. In Q2 FY27 (July-September 2026), SEIL produced 69,617.424 MT of Re-Bar, with September 2026 marking a new monthly record of 25,095.035 MT. This increased production capability is partly due to the newly commissioned Reheating Furnace (RHF), which boosted the company's monthly Re-Bar production capacity by approximately 27%.
Financially, SEIL delivered strong operational performance with consolidated revenue growing by approximately 45% year-on-year and 25% quarter-on-quarter in Q2 FY2027. The company also achieved a significant two-notch credit rating upgrade from Infomerics, with its long-term rating moving 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, bringing the total rated quantum to ₹558.19 Crore.
In terms of deleveraging, SEIL reduced its total debt by ₹102 Crore. This included the redemption of ₹43.19 Crore of NCDs and progressive term loan prepayments, resulting in a discharge of around 30% of its long-term debt since December 2025. This reduction was supported by operational cash flows and strategic equity inflows, notably from the IMR Group.
Furthermore, SEIL has secured its raw material supply through a strategic Memorandum of Understanding (MoU) with NMDC Limited for the long-term supply of iron ore fines. The MoU has an initial four-year term.
The company also received institutional approvals, including approval from the Andhra Pradesh Capital Region Development Authority (APCRDA) for the use of SIMHADRI TMT in the Amaravati Capital City projects and a five-year renewal of its approval from the Military Engineer Services (MES).
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STEEL EXCHANGE INDIA LIMITED filed this with the NSE as a statutory disclosure, categorised under other company updates. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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