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Updated - May 26, 2026 at 02:27 PM.

| Mumbai

Steel Exchange India, a leading integrated steel manufacturer, reported that its net profit in the March quarter more than doubled at ₹12 crore against ₹5 crore logged in the same period last year.

Incomes was down marginally at ₹287 crore (₹291 crore).

In FY’26, the net profit was up at ₹27 crore (₹26 crore) while income jumped to ₹1,059 crore (₹1,144 crore).

The company has received ₹85 crore upfront via allotment of convertible warrants. This was part of ₹350 crore preferential issue approved by the Board. The company will also convert 2.83 crore of existing warrants converted into equity shares after getting ₹30 crore.

As part of debt reduction, the company has redeemed ₹43 crore towards NCDs in a single tranche. This follows ₹25 crore repayment over last two quarters. The company has so far repaid over 20 per cent of long-term debt since last October.

The company has appointed Anirudh Misra as Additional Non-Executive & Non-Independent Director, a seasoned industry leader with extensive experience in metals, mining, and global commodities trade.

As the Founder of IMR Group, he has built a globally recognized commodities trading and mining enterprise, besides driving international expansion. He brings strong global perspective and strategic depth to the company.

The company has also appointed Vankina Sri Rakes, Chief Financial Officer and Key Managerial Personnel. A seasoned finance professional with over four decades of experience.

Suresh Kumar Bandi, Whole-Time Director designated as Joint Managing Director & Director, has been assigned additional responsibility for the finance function of the company and will serve as “Whole-Time Director designated as Joint Managing Director & Director – Finance.

The company has secured 5-year renewal of MES approval under the Ministry of Defence for TMT bar supplies.

The planned expansion into speciality and green steel along with logistics infrastructure development reflects the company’s long-term vision to strengthen integrated steel platform and capture emerging opportunities across the sector, it added.

Published on May 26, 2026

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