Steel Exchange India Limited announced on Wednesday that it has secured a five-year renewal of approval from the Military Engineer Services (MES) under the Ministry of Defence for the supply of its TMT bars, a development that strengthens the Vizianagaram-based steelmaker’s position in the institutional procurement segment.
The renewed approval covers TMT bars of grade Fe 500D and Fe 500D HCRM in sizes ranging from 8 mm to 32 mm, produced at the company’s integrated steel plant in Sriram Puram, Vizianagaram, Andhra Pradesh, using TEMPCORE technology. Compliance requirements under the renewal include testing per IS 1786:2008 standards and periodic inspection of manufacturing processes by MES authorities.
MES approvals are limited to a select pool of manufacturers that meet rigorous quality and technical criteria, creating what the company describes as a high entry-barrier vendor base. The renewal signals the company’s continued adherence to those standards over successive evaluation cycles.
The announcement was made through a regulatory filing to BSE and NSE under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
Shares of the company were trading at ₹10.27 on the NSE as of late Wednesday morning, up 2.50 per cent on the day, against a total market capitalisation of approximately ₹1,280.90 crore. The stock has gained around 30 per cent over the past year, though it trades well below its 52-week high of ₹11.55 recorded in July 2025. The scrip carries an applicable margin rate of 75 per cent, reflecting its small-cap, high-volatility profile, with annualised volatility at 52.35 per cent.
Steel Exchange India, part of the Vizag Profiles Group, sells TMT rebars under the SIMHADRI TMT brand and operates an integrated plant with sponge iron, billet, rolling mill, and captive power generation capacities.
Published on May 6, 2026