Steel Exchange India clocked approximately ₹340 crore in revenue in Q2FY27, rising 45% YoY and 25% QoQ, driven by record re-bar production.

Q2FY27 revenue performance

The company's topline growth was supported by record re-bar production during the quarter. The sequential and year-on-year expansion reflects a significant ramp-up in output across the reporting period. Provisional consolidated revenue reached ~₹340 crore, marking a sharp rise in underlying business performance.

Operational highlights and capacity utilisation

Steel Exchange India achieved its highest-ever quarterly Re-Bar production of 69,465 MT, which the company states is driving economies of scale and operating leverage. Production touched a record monthly level of 25,095.035 MT in September 2026, reflecting continuous productivity gains.

The operationalisation of the Reheating Furnace (RHF) has structurally improved manufacturing yields and capacity utilisation. This infrastructure upgrade supports the company's turnaround journey by enhancing efficiency across its integrated steel plant in Vizianagaram District.

Strategic diversification under PLI scheme

Beyond volume growth, the company is diversifying into specialty steels under the Production Linked Incentive (PLI) scheme. This move aims to open up higher-margin revenue streams and support import substitution in line with the Atmanirbhar Bharat vision. The company, known for its SIMHADRI TMT brand, continues to supply to the Armed Forces and critical infrastructure projects.

What the numbers show

The 45% YoY revenue growth alongside a 25% QoQ increase points to accelerating momentum in Steel Exchange India's operations. The record re-bar production of 69,465 MT cited as the primary driver indicates a meaningful increase in manufacturing throughput compared to both the prior quarter and the year-ago period. The simultaneous improvement in yields via the new RHF suggests that revenue growth is being supported by both volume expansion and structural efficiency gains, rather than price increases alone.

Steel Exchange India Limited completed the scheduled partial redemption and interest payment for its Secured Non-Convertible Debentures (NCDs) on October 7, 2026. The company disbursed ₹2.79 crore as principal redemption and ₹1.49 crore as interest to debenture holders on the due date.

The filing submitted to BSE and NSE under Regulation 57 of SEBI (LODR) Regulations, 2015 confirms that both payments were made on time. The redemption was executed via a reduction in face value rather than a quantity-based buyback. Following this transaction, the outstanding amount for the series stands at ₹145.47 crore.

Redemption details

The partial redemption involved reducing the face value of the debentures from ₹387,345 to ₹380,037 per unit. This method aligns with the terms specified in the agreement for scheduled partial redemptions. No call or put options were exercised in this instance.

Interest payment specifics

The company also cleared the monthly interest obligation for the period ending September 21, 2026. The interest amount paid was ₹1.49 crore, matching the due amount exactly. There were no delays or non-payments reported for this cycle.

What the Numbers Show

The simultaneous execution of principal and interest payments indicates disciplined debt servicing by the issuer. The outstanding debt balance of ₹145.47 crore represents approximately 38% of the original issue size of ₹382.80 crore, suggesting that the majority of the principal has already been amortized through prior scheduled redemptions.