New Delhi: Steel Exchange India Limited (SEIL), one of the leading integrated steel manufacturers in South India and the company behind the SIMHADRI TMT brand, has released its financial reports for H1 FY27. The half was marked by its highest-ever monthly and quarterly Re-Bar production, a two-notch credit rating upgrade, significant debt reduction, a long-term raw material partnership with NMDC and key institutional approvals.
H1 FY27 Key Highlights
Financial Performance: Steel Exchange India Limited (SEIL), a leading manufacturer of TMT Rebars in South India under the trusted brand “SIMHADRI TMT,” delivered a strong operational performance in Q2 FY2027, with consolidated revenue registering approximately 45% YoY and 25 % QoQ growth.
Record Production – Highest-Ever Month and Quarter: Achieved its highest-ever quarterly Re-Bar production of 69,617.424 MT in Q2 FY27 (July–September 2026), with September 2026 setting a new monthly record of 25,095.035 MT, surpassing the previous high of 24,823.509 MT in August 2026. The newly commissioned Reheating Furnace (RHF) has increased the Company’s monthly Re-Bar production capability by approximately 27%.
Credit Rating Upgrade – Two Notches Higher: Infomerics upgraded the Company’s long-term rating by two notches from IVR BBB-/Stable to IVR BBB+/Stable and its short-term rating from IVR A3 to IVR A2. Rated bank facilities were enhanced from ₹200 Crore to ₹359.63 Crore, taking the total rated quantum to ₹558.19 Crore. This is the Company’s second successive upgrade by Infomerics.
Deleveraging – ₹102 Crore Debt Repaid: Reduced total debt by ₹102 Crore, including the redemption of ₹43.19 Crore of NCDs and progressive term loan prepayments, discharging around 30% of its long-term debt since December 2025, supported by operational cash flows and strategic equity inflows mainly from IMR Group, a Switzerland-headquartered metals and mining conglomerate.
NMDC MoU – Securing Raw Material Supply: Signed a strategic MoU with NMDC Limited for the long- term supply of consistent-grade iron ore fines (Fe 61–63% and above) from NMDC’s upcoming Buffer Stockpile & Blending Yard at Visakhapatnam, with a primary four-year term that lays the foundation for future long-term agreements.
Institutional Approvals – SIMHADRI TMT: Received approval from the Andhra Pradesh Capital Region Development Authority (APCRDA) for the use of SIMHADRI TMT in the ₹65,000 Crore Amaravati Capital City projects, and secured a five-year renewal of its approval from the Military Engineer Services (MES) under the Ministry of Defence.
