Steel Exchange India achieved a record monthly re-bar production of 24,823.509 MT in August 2026, marking the highest-ever output since inception following the commissioning of a new reheating furnace.

Record production milestone

The company attributed the achievement directly to the successful commissioning and operationalisation of the Reheating Furnace (RHF). The August 2026 figure represents the highest monthly re-bar production recorded by Steel Exchange India since its inception.

Production breakdown

The total production was split between the Continuous Casting Machine (CCM) and the new Reheating Furnace (RHF).

Facility-wise contribution

The addition of the new reheating furnace marks a significant capacity enhancement for Steel Exchange India's manufacturing operations, enabling the company to reach this production milestone. Management stated that the RHF has increased the company's monthly re-bar production capability by approximately 27%.

What the Numbers Show

The RHF contributed nearly 30% of the total August output (7,465.288 MT out of 24,823.509 MT), indicating that the new facility is already operating at significant utilisation levels immediately post-commissioning. This rapid uptake suggests minimal ramp-up friction and validates the capacity expansion strategy.

Steel Exchange India shareholders passed all six resolutions at its 27th Annual General Meeting held on August 22, 2026. The company disclosed the final voting results on August 24, 2026, confirming approval of its FY26 financial statements and key governance matters.

The meeting commenced at 11:45 am and concluded at 1:05 pm via video conferencing. Voting was conducted through remote e-voting and during the session. The record date for determining eligibility was August 14, 2026, with a total of 283,047 shareholders on record.

Voting Participation and Results

A total of 619,844,758 votes were polled out of 1,275,518,412 outstanding shares, representing a participation rate of 48.59%. Promoters and the promoter group held 633,595,550 shares, while public institutions held 34,868,337 shares and non-institutional public shareholders held 607,054,525 shares.

Promoter participation was high, with 96.43% of their shares voted. In contrast, public institutional participation was low at 0.24%, while non-institutional public shareholders participated at 1.44%.

All resolutions received near-unanimous support from the promoter group, which voted 100% in favour across all items. Public shareholders also supported the resolutions, with approval rates exceeding 99.5% for all items.

Governance and Financial Approvals

The primary financial resolution involved the adoption of the audited financial statements for FY26, along with the reports of the Board of Directors and statutory auditors. This ordinary resolution was passed with 99.99% of votes in favour.

Shareholders also ratified the remuneration payable to Cost Auditors for the financial year ending March 31, 2027. The cost auditor appointed is M/s. Dendukuri & Co., with remuneration set at ₹9.00 lakh plus applicable taxes.

Director Appointments and Regularizations

Members approved the re-appointment of Mr. Mohit Sai Kumar Bandi as a director retiring by rotation. A special resolution also approved his remuneration as Whole-Time Director, amounting to ₹5,00,000 per month for the remaining two years of his tenure, effective November 18, 2026.

Another ordinary resolution regularized Mr. Anirudh Misra as a Non-Executive Non-Independent Director. Additionally, shareholders approved the continuation of Ms. Bhagyam Ramani as a Non-Executive Independent Director beyond the age of 75 until the completion of her first term on July 11, 2028.

Regulatory Compliance

The company notified BSE Limited and National Stock Exchange of India Limited of these proceedings pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The detailed voting results were furnished under Regulation 44(3), based on the report by scrutinizer Srikanth Somepalli of B S S & Associates.