Synopsis:
Steel Exchange India reported Q1 FY26 revenue of Rs. 300 crores, up 3 percent QoQ and 14 percent YoY, with net profit rising 117 percent QoQ and 292 percent YoY to Rs. 10.2 crores.
During Monday’s trading session, shares of a company involved in manufacturing steel products surged nearly 7.4 percent on BSE, after reporting Q1 FY26 results with a net profit growth of around 117 percent QoQ and 292 percent YoY.
At 02:17 p.m., the shares of Steel Exchange India Limited were trading in the green at Rs. 10.46 on BSE, up by 1.3 percent, as against its previous closing price of Rs. 10.33, with a market cap of Rs. 1,237 crores. The stock has delivered negative returns of over 21 percent in the last one year, but has gained by around 3 percent in the last one month.
What’s the News:
According to the latest regulatory filings on the stock exchanges, Steel Exchange India Limited announced the financial results for Q1 FY26 on Monday during market hours.
For Q1 FY26, Steel Exchange India reported revenue from operations of Rs. 300 crores, marking around a 3 percent QoQ growth compared to Rs. 291.4 crores in Q4 FY25, and a year-on-year increase of about 14 percent from Rs. 264 crores recorded in Q1 FY25.
The company’s net profit for the quarter stood at Rs. 10.2 crores, reflecting a significant growth of around 117 percent QoQ compared to Rs. 4.7 crores in Q4 FY25, along with an impressive year-on-year rise of about 292 percent from Rs. 2.6 crores in Q1 FY25.
The company’s Board also considered a proposal for raising funds through a rights issue of fully paid-up equity shares, with a proposed aggregate amount not exceeding Rs. 150 crores. However, after detailed discussions, the Board concluded that the proposed amount may not be sufficient to address the company’s present and foreseeable funding needs.
Consequently, the Board recommended a comprehensive reassessment of the company’s funding requirements. It was decided to defer the proposal, with the agenda item to be revisited at a future Board meeting. The rights issue proposal was therefore not approved during the current session.
Steel Exchange India Limited, the flagship company of the Vizag Profiles Group, is primarily engaged in the business of manufacturing steel products and allied activities at its largest private Integrated Steel Plant located close to Visakhapatnam, Andhra Pradesh. Additionally, the company is a leading manufacturer of TMT Rebars under the brand ‘SIMHADRI TMT’ and also manufactures sponge iron, billets, and other steel products.
Written by Shivani Singh
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