Steel Exchange India Q2 FY27 PAT Surges 734% to ₹17.62 Cr, Income Up 47%
Steel Exchange India reported a 734% YoY jump in Q2 FY27 PAT to ₹17.62 Cr on ₹343.35 Cr income (up 47%). Achieved record Re-Bar output of 69,617 MT. Debt reduced by ~₹102 Cr. Credit rating upgraded to IVR BBB+/Stable. Board approved equity infusion via warrants conversion on Nov 4, 2026.
The significant PAT growth, record operational performance, substantial debt reduction, credit rating upgrade, and strategic initiatives like the NMDC tie-up and PLI scheme diversification are material developments that are expected to have a high impact on the company's future performance and investor perception.
The company reported substantial year-on-year growth in PAT and total income, record production levels, debt reduction, and a credit rating upgrade, all indicating strong positive performance and financial health.
Steel Exchange India Limited announced its standalone unaudited financial results for the second quarter and first half ended September 30, 2026. The company reported a significant 734% year-on-year jump in Profit After Tax (PAT) to ₹17.62 crore for Q2 FY27, compared to ₹2.11 crore in Q2 FY26. This surge in profitability was driven by operating leverage and lower finance costs, leading to a PAT margin expansion of 423 basis points to 5.13%.
Total Income for the quarter grew by 47% year-on-year and 27% quarter-on-quarter to ₹343.35 crore, supported by strong demand and higher volume off-take. The company achieved an all-time high quarterly Re-Bar production of 69,617 metric tonnes in Q2 FY27, with consecutive monthly records in August and September 2026. The upgraded Reheating Furnace is now operational, adding approximately 27% to monthly rolling capacity.
Infomerics upgraded Steel Exchange India's long-term credit rating by two notches to IVR BBB+/Stable and short-term rating to IVR A2. The company has also reduced its total debt by approximately ₹102 crore since December 2025, including a further ₹16 crore repayment during the quarter, resulting in a 27% year-on-year decrease in finance costs.
Further strengthening its financial position, the Board approved a preferential allotment and the conversion of 8,04,23,279 warrants into equity shares on November 04, 2026, providing growth capital. The company signed a long-term Memorandum of Understanding (MoU) with NMDC Limited for iron ore supply, securing raw material and reducing logistics costs.
Additionally, SIMHADRI TMT received approval for use in Amaravati Capital City construction, and the company's empanelment with the Military Engineer Services (MES) for the Ministry of Defence was renewed for five years. Steel Exchange India is also advancing its diversification into value-added specialty steels under the Central Government’s Production Linked Incentive (PLI) Scheme.
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STEEL EXCHANGE INDIA LIMITED filed this with the NSE as a statutory disclosure, categorised under quarterly results. 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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