Steel Exchange India Ltd Share Price – NSE  /  BSE

Steel, Small Cap

Steel Exchange India will hold a meeting of the Board of Directors of the Company on 31 July 2024.

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Steel Exchange India has allocated approximately Rs 60 crore from the funds raised against issue of NCDs of the company towards the ongoing capex enhancement initiatives in the year 2023-24 to boost the company's production capabilities and operational efficiency.

The company is in process of increasing the installed capacity at its Integrated Steel Plant (ISP) located at Malliveedu, L. Kota Mandal, Vizianagaram District, Andhra Pradesh.

The Concast (Continuous Casting Machine) has been successfully implemented and is ready for commissioning. This increases its Installed capacity from 2,50,000 MTA to 3,60,000 MTA of Billets.

Work on the new 8mm rolling mill is going as per schedule with 50% of completion and is expected to be completed within the next three months. This will increase its overall rebar installed capacity from 2,25,000 MTA to 3,57,000 MTA.

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Net profit of Steel Exchange India reported to Rs 19.75 crore in the quarter ended March 2024 as against net loss of Rs 42.61 crore during the previous quarter ended March 2023. Sales declined 21.61% to Rs 312.15 crore in the quarter ended March 2024 as against Rs 398.22 crore during the previous quarter ended March 2023.

For the full year,net profit reported to Rs 10.89 crore in the year ended March 2024 as against net loss of Rs 58.85 crore during the previous year ended March 2023. Sales declined 21.55% to Rs 1089.17 crore in the year ended March 2024 as against Rs 1388.33 crore during the previous year ended March 2023.

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Steel Exchange India will hold a meeting of the Board of Directors of the Company on 3 May 2024.

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