Steel Exchange India Limited announced its unaudited standalone financial results for the quarter and nine months ended December 31, 2025. The Board of Directors approved these results at their meeting held on February 14, 2026, following a limited review by the company's statutory auditors.

Financial Performance Overview

The company's financial performance for Q3FY26 shows a significant decline compared to the previous year. Revenue from operations dropped substantially while profitability was severely impacted across both quarterly and nine-month periods.

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, the company demonstrated continued challenges with declining revenue and profitability metrics compared to the corresponding period in the previous year.

Segment-wise Business Performance

Steel Exchange India operates through two primary business segments: steel production and power generation. Both segments experienced revenue declines during the reporting period.

Steel Business Segment

The steel segment, which includes production and marketing of sponge iron, billets, and rebars (TMT), generated revenue of ₹23,829.54 lakhs in Q3FY26 compared to ₹32,465.89 lakhs in Q3FY25. For the nine-month period, steel segment revenue reached ₹76,000.49 lakhs against ₹83,207.43 lakhs in the previous year.

Power Generation Segment

The power segment, focusing on thermal-based power generation and marketing, contributed ₹2,075.47 lakhs in quarterly revenue compared to ₹3,055.81 lakhs in the corresponding quarter of FY25. Nine-month power segment revenue stood at ₹7,039.92 lakhs versus ₹9,840.40 lakhs in the previous year.

Key Financial Ratios and Metrics

The company's financial health indicators reflect operational challenges and margin compression during the quarter.

Corporate Developments

During the quarter, the company undertook several significant financial restructuring activities. Steel Exchange India received ₹3,828 crores worth of 18.75% rated, redeemable, secured Non-Convertible Debentures (NCDs) taken over by Kotak Credit Opportunities Fund on October 7, 2025, with modified terms including a reduced interest rate to 14.06%. Additionally, the company secured a working capital demand loan of ₹1,000 lakhs from Oxyzo Financial Services Limited at an interest rate of 12.00% per annum.

The company also incorporated SEIL Infra Logistics Limited, a wholly-owned subsidiary, on June 29, 2025. As of the reporting date, this subsidiary had not commenced business operations, and consequently, consolidation of its financials was not undertaken for the current quarter.

Source:

Steel Exchange India Limited has announced the resignation of its Chief Financial Officer, Mr. Brahmaiah Telaprolu, effective from the close of business hours on February 11, 2026. The company has formally communicated this development to the stock exchanges in compliance with regulatory requirements.

Resignation Details

Mr. Brahmaiah Telaprolu has tendered his resignation from the position of Chief Financial Officer due to medical reasons. The company has explicitly stated that there are no other reasons for his resignation. The resignation becomes effective from the close of business hours on February 11, 2026.

Regulatory Compliance

The company has fulfilled its disclosure obligations by informing the BSE Limited and National Stock Exchange of India Limited under Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification includes all required details as per SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

The formal communication was signed by Raveendra Babu M, Company Secretary & Compliance Officer, and submitted to both exchanges along with the resignation letter and required annexures.

Management Response

The management has accepted Mr. Telaprolu's resignation and has placed on record its sincere appreciation for the valuable contributions made by him during his tenure with the company. The resignation letter, submitted directly to the Board of Directors, expressed gratitude for the cooperation and support extended during his service period.

Company Information

Steel Exchange India Limited operates with its registered office in Hyderabad, Telangana, and corporate office in Visakhapatnam, Andhra Pradesh. The company maintains an integrated steel plant at Sreerampuram, L.Kota Mandal, Vizianagaram District. The company is listed on both BSE (Scrip Code: 534748/960441) and NSE (Scrip Code: STEELXIND) exchanges.