Steel Exchange India Ltd. is a mid-sized integrated steel manufacturer, producing billets, TMT bars, and structural steel. The company operates across Andhra Pradesh with backward integration through captive power and sponge iron capacity. It serves construction, infrastructure, and industrial clients through its Vizag Steel vertical. The stock is currently trading at ₹10.89.
Steel Exchange India Ltd. – FY22–FY25 Snapshot
Sales – ₹814 Cr → ₹860 Cr → ₹918 Cr → ₹982 Cr – Gradual expansion driven by volume growth and demand
Net Profit – ₹39.6 Cr → ₹45.3 Cr → ₹50.6 Cr → ₹56.4 Cr – Steady earnings growth through efficiency and pricing Company Order Book – Moderate → Strong → Strong → Strong – Consistent inflow from infra-linked segments Dividend Yield (%) – 0.00% → 0.00% → 0.00% → 0.00% – No payouts, reinvestment-focused strategy
Operating Performance – Moderate → Strong → Strong → Strong – Margin stability supported by captive power Equity Capital – ₹53.68 Cr (constant) – No dilution, lean capital base
Total Debt – ₹190 Cr → ₹180 Cr → ₹168 Cr → ₹155 Cr – Controlled deleveraging from operational cash flows
Total Liabilities – ₹310 Cr → ₹325 Cr → ₹340 Cr → ₹356 Cr – Scaling modestly with demand
Fixed Assets – ₹145 Cr → ₹153 Cr → ₹160 Cr → ₹168 Cr – Capex directed toward plant modernization and efficiency upgrades
Latest Highlights FY25 net profit rose 11.5% YoY to ₹56.4 Cr; revenue increased 7.0% to ₹982 Cr EPS: ₹1.05 | EBITDA Margin: 14.9% | Net Margin: 5.74% Return on Equity: 12.34% | Return on Assets: 9.81% Promoter holding: 59.44% | Dividend Yield: 0.00% Operational efficiency gains from captive power and logistics optimization Rural infra and housing demand driving uptick in TMT segment volumes
Institutional Interest & Ownership Trends Promoter holding remains stable at 59.44% with no pledging or dilution. FII interest is minimal given the mid-cap profile, while HNI accumulation is visible across recent delivery spikes. Institutional exposure remains niche, centered around infra-allocation and value opportunities in commodity-linked verticals.
Business Growth Verdict Yes, Steel Exchange India is growing steadily across core product lines Margins supported by integration and volume expansion Debt is declining steadily with earnings momentum Capex remains efficient and supports operational improvement
Company Guidance Management projects single-digit revenue growth in FY26 driven by product mix enhancement and improved capacity utilization. Margin profile expected to remain consistent due to backward integration and demand visibility from infrastructure.
Final Investment Verdict Steel Exchange India Ltd. presents a modest yet efficient growth story in India’s steel sector. Its improving margin profile, steady earnings, and conservative capital structure make it suitable for gradual accumulation. The company’s core focus on integrated operations and infra-led volumes provides a base for value creation, appealing to investors seeking mid-cap manufacturing exposure in commodity-driven sectors.
Steel Exchange India Ltd. – FY22–FY25 Snapshot
Sales – ₹814 Cr → ₹860 Cr → ₹918 Cr → ₹982 Cr – Gradual expansion driven by volume growth and demand
Net Profit – ₹39.6 Cr → ₹45.3 Cr → ₹50.6 Cr → ₹56.4 Cr – Steady earnings growth through efficiency and pricing Company Order Book – Moderate → Strong → Strong → Strong – Consistent inflow from infra-linked segments Dividend Yield (%) – 0.00% → 0.00% → 0.00% → 0.00% – No payouts, reinvestment-focused strategy
Operating Performance – Moderate → Strong → Strong → Strong – Margin stability supported by captive power Equity Capital – ₹53.68 Cr (constant) – No dilution, lean capital base
Total Debt – ₹190 Cr → ₹180 Cr → ₹168 Cr → ₹155 Cr – Controlled deleveraging from operational cash flows
Total Liabilities – ₹310 Cr → ₹325 Cr → ₹340 Cr → ₹356 Cr – Scaling modestly with demand
Fixed Assets – ₹145 Cr → ₹153 Cr → ₹160 Cr → ₹168 Cr – Capex directed toward plant modernization and efficiency upgrades
Latest Highlights FY25 net profit rose 11.5% YoY to ₹56.4 Cr; revenue increased 7.0% to ₹982 Cr EPS: ₹1.05 | EBITDA Margin: 14.9% | Net Margin: 5.74% Return on Equity: 12.34% | Return on Assets: 9.81% Promoter holding: 59.44% | Dividend Yield: 0.00% Operational efficiency gains from captive power and logistics optimization Rural infra and housing demand driving uptick in TMT segment volumes
Institutional Interest & Ownership Trends Promoter holding remains stable at 59.44% with no pledging or dilution. FII interest is minimal given the mid-cap profile, while HNI accumulation is visible across recent delivery spikes. Institutional exposure remains niche, centered around infra-allocation and value opportunities in commodity-linked verticals.
Business Growth Verdict Yes, Steel Exchange India is growing steadily across core product lines Margins supported by integration and volume expansion Debt is declining steadily with earnings momentum Capex remains efficient and supports operational improvement
Company Guidance Management projects single-digit revenue growth in FY26 driven by product mix enhancement and improved capacity utilization. Margin profile expected to remain consistent due to backward integration and demand visibility from infrastructure.
Final Investment Verdict Steel Exchange India Ltd. presents a modest yet efficient growth story in India’s steel sector. Its improving margin profile, steady earnings, and conservative capital structure make it suitable for gradual accumulation. The company’s core focus on integrated operations and infra-led volumes provides a base for value creation, appealing to investors seeking mid-cap manufacturing exposure in commodity-driven sectors.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.