Synopsis: A South Indian steel maker lands a coveted government nod, unlocking access to one of the country’s most ambitious urban development projects worth tens of thousands of crore.
India’s capital city ambitions are quietly creating winners in the steel sector. As Amaravati’s long-delayed development gathers pace under a massive government push, one Andhra Pradesh-based manufacturer has just secured a critical gateway into the project’s supply chain – and the market has taken notice.
Shares of Steel Exchange India Limited, with a market capitalization of Rs.1,512 crore, are trading at a price of Rs.12.13 i.e. 5.29% up from its previous closing price of Rs.11.52. It made a high of Rs.12.53 which is around 9% up from previous closing price. It is trading at a P/E ratio of 57.57.
APCRDA Nod Opens Doors to Amaravati Supply Chain
Steel Exchange India Limited has received formal approval from the Andhra Pradesh Capital Region Development Authority (APCRDA) for the use of its SIMHADRI TMT rebar products in ongoing and upcoming construction works under the Amaravati Capital City development programme. The approval covers Fe550, Fe500D, Fe550D, and Fe550D CRS grades – a broad set of high-strength steel variants suited for large-scale civil infrastructure.
With the Andhra Pradesh government pushing ahead with the ₹65,000 crore Amaravati Capital City project, the APCRDA clearance positions SEIL as a primary-source vendor for steel supply to the programme. The approval has also been circulated to leading EPC and construction companies associated with Amaravati’s development, giving SEIL direct visibility across the project’s execution ecosystem.
SEIL operates an integrated steel plant near Visakhapatnam in Vizianagaram district, housing sponge iron, billet, rolling mill, and power generation facilities. The plant’s backward and forward integration in long steel production gives the company a cost and supply reliability edge in bulk infrastructure contracts.
For Q4 FY26, standalone sales came in at ₹287 crore, operating profit at ₹50 crore with OPM expanding sharply to 17% from 11% in Q4 FY25, and net profit at ₹12 crore against ₹5 crore a year ago. For the full year FY26, standalone sales stood at ₹1,059 crore versus ₹1,140 crore in FY25, down about 7%, while operating profit improved to ₹131 crore from ₹124 crore, up 6%, and net profit rose to ₹27 crore from ₹26 crore, a marginal 4% gain year on year.
About the Company
Steel Exchange India Limited (SEIL), part of the Vizag Profiles Group, manufactures TMT rebars under the SIMHADRI TMT brand. Founded in 1999, the company operates an integrated steel plant in Vizianagaram district, Andhra Pradesh, with capacities spanning sponge iron, billets, rolling mill, and power generation. SEIL supplies to infrastructure and defence projects and is diversifying into specialty steels under the PLI scheme.
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