Steel Exchange India Limited (STEELXIND)

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Steel Exchange India Limited (STEELXIND) · mywealthgrid

About

Steel Exchange India Limited operates in Iron & Steel Products, a mid-cap industrial company with market cap ₹1,386 Cr and quarterly revenues ₹270 Cr. Recent performance shows 12-13% operating margins with earnings impacted by commodity price volatility.

Face value: ₹1

Market cap

₹1,431 Cr

P/E

45.0×

P/B

1.8×

Dividend yield

ROE

3.7%

ROCE

10.8%

Debt / equity

0.54

OPM

12.4%

EPS (TTM)

₹0.3

Book value

₹6.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

High valuation relative to returns — PE 43.61 against ROE of just 3.66% suggests market prices significant growth not yet evident; clarify what growth would justify current price.

Revenue declining YoY (₹300 Cr Jun 2025 to ₹269.71 Cr Jun 2026) despite stable 12-13% margins indicates volume loss or market-share pressure in weak demand cycle.

Earnings volatility (₹2.28-₹15.86 Cr net profit over recent quarters) driven by margin swings (9.34%-17.31% OPM) reflects commodity sensitivity; verify cost structure and pricing power.

Thin 12% margins leave little buffer for input cost inflation or demand deterioration; verify hedging practices and working-capital resilience through downturns.

Generated analysis · source review pending

Growth drivers

Margin recovery from 9.34% OPM (Dec 2025) to 12.7% (Jun 2026) lifted net profit 6.6x (₹2.28 Cr to ₹15.03 Cr); if 12-13% level holds, profit scales at current revenue.

Revenue stabilized at ₹269.71 Cr (Jun 2026) after Sep-Dec lows but remains 10% below Jun 2025 peak (₹300 Cr); recovery to prior highs would yield ₹15-20 Cr annual profits at current OPM.

Jun 2026 profit (₹15.03 Cr) matched Dec 2024 level (₹15.86 Cr) despite 18% lower revenue, implying improved cost structure; verify if structural or cyclical.

Generated analysis · source review pending

2,269 historical price candles were omitted because the exchange source has not been verified.

₹11.2+0.3%1Y

Quick read

rule-based

Pros

No positive flags triggered.

Cons

−Low return on equity of 3.1% (3-yr avg)
−Profit declined 28.1% a year over the last 5 years
−Modest revenue growth of 3.4% a year over the last 5 years
−Weak interest coverage of 1.6×
−Promoter holding fell 3.2 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

36/100

Business quality: 24
Growth: 33
Valuation

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Welspun Corp LimitedWELCORPWELCORP	₹68,741 Cr	₹70,904 Cr	₹17,300 Cr	₹2,403 Cr	13.3%	₹2,309 Cr	9.7%	19.2%	19.4%	85
Apl Apollo Tubes LimitedAPLAPOLLOAPLAPOLLO	₹58,753 Cr	₹59,205 Cr	₹22,897 Cr	₹1,841 Cr	7.8%	₹1,229 Cr	5.2%	30.8%	25.3%	-12
Shyam Metalics And Energy LimitedSHYAMMETLSHYAMMETL	₹29,244 Cr	₹30,225 Cr	₹19,574 Cr	₹2,519 Cr	12.6%	₹860 Cr	5.7%	13.5%	9.7%	8
Ratnamani Metals & Tubes LimitedRATNAMANIRATNAMANI	₹18,362 Cr	₹18,666 Cr	₹4,314 Cr	₹732 Cr	16.9%	₹433 Cr	11.9%	17.8%	12.5%	210
Jindal Saw LimitedJINDALSAWJINDALSAW	₹17,286 Cr	₹21,976 Cr	₹18,263 Cr	₹1,941 Cr	12.4%	₹653 Cr	5.2%	11.4%	8.1%	159
Usha Martin LimitedUSHAMARTUSHAMART	₹14,982 Cr	₹15,128 Cr	₹3,837 Cr	₹768 Cr	19.1%	₹507 Cr	12.6%	20%	15.4%	190
Godawari Power And Ispat LimitedGPILGPIL	₹14,517 Cr	₹14,943 Cr	₹5,808 Cr	₹1,263 Cr	23.3%	₹808 Cr	14.9%	20.1%	14.9%	73
Gallantt Ispat LimitedGALLANTTGALLANTT	₹12,793 Cr	₹13,340 Cr	₹4,437 Cr	₹655 Cr	16.2%	₹436 Cr	11%	19.2%	15.7%	58
Maharashtra Seamless LimitedMAHSEAMLESMAHSEAMLES	₹9,363 Cr	₹9,377 Cr	₹4,620 Cr	₹696 Cr	14.6%	₹737 Cr	15%	13.6%	10.6%	153
Jayaswal Neco Industries LimitedJAYNECOINDJAYNECOIND	₹8,863 Cr	₹10,960 Cr	₹7,589 Cr	₹1,409 Cr	18.6%	₹564 Cr	6.5%	22.9%	17.8%	151
Sunflag Iron And Steel Company LimitedSUNFLAGSUNFLAG	₹7,812 Cr	₹8,286 Cr	₹3,995 Cr	₹476 Cr	12.1%	₹206 Cr	5.1%	3.8%	2.3%	95
Man Industries (India) LimitedMANINDSMANINDS	₹6,912 Cr	₹7,411 Cr	₹3,875 Cr	₹532 Cr	12.3%	₹204 Cr	4.8%	18.4%	9.2%	114

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,671	1,279	931	1,024	781	898	1,099	1,388	1,089	1,144	1,059
COGS	-1,378	-915	—	841	612	705	883	1,167	879	890	790
Gross profit	—	—	—	183	169	194	217	221	210	254	269
	2,897	2,167	942	166	98	78	111	124	114	129	138
	152	28	-11	17	71	116	106	97	96	124	131
OPM %	9.1%	2.2%	-1.2%	1.7%	9.1%	12.9%	9.7%	7%	8.9%	10.9%	12.4%
Depreciation	27	27	29	30	27	25	24	24	21	24	28
Interest	123	—	136	10	3	26	88	106	78	75	69
	11	7	8	5	-1	77	20	5	4	19	7
Profit before tax	14	-157	-215	-17	39	143	14	-28	1	46	40
Tax	—	—	—	20	-25	3	-102	31	-10	20	13
Tax %	—	—	—	113.6%	-64.2%	1.9%	-704.4%	107.8%	-756.7%	43%	32.9%
	7	-157	-170	-37	64	140	116	-59	11	26	27
PAT margin %	0.4%	-12.3%	-18.3%	-3.6%	8.2%	15.6%	10.6%	-4.2%	1%	2.3%	2.6%
EPS (₹)	1.4	—	-22.4	-4.8	8.4	18.3	13.4	-0.7	0.1	0.2	0.2
EPS adjusted (₹)	—	—	—	—	0.9	1.7	1.3	-0.6	0.1	0.2	0.2
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	76	80	88	104	120	120	125
Reserves	—	222	403	413	542	586	643
Minority interest	—	—	—	—	—	0	0
	—	413	354	239	383	358	418
	—	274	273	376	224	220	190
Total equity & liabilities	—	989	1,117	1,132	1,268	1,284	1,375
	643	612	596	579	570	613	590
CWIP	—	6	7	13	50	3	6
Investments	—	0	0	0	0	34	43
	—	371	514	540	648	634	736
Total assets	—	989	1,117	1,132	1,268	1,284	1,375

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	79	4	138	-48	97	-38
	-13	9	-14	-49	-15	8
	-116	-1	-120	98	-81	25
Net cash flow	-49	12	4	1	1	-5
Free cash flow	79	-4	128	-60	97	-38
CFO / Operating profit %	68.3%	3.9%	142.5%	-49.8%	77.8%	-29%

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Steel	1,042.4	110.71	1,139.05	294.93	844.12	13.12
Power	96.23	-4.23

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	17.9%	21.6%	21.6%	19.7%	15.9%	19.3%	22.2%	25.4%
EBITDA margin %	1.7%	9.1%	12.9%	9.7%	7%	8.9%	10.9%	12.4%
EBIT margin %	-1.2%	5.6%	10.2%	7.5%	5.2%	6.9%	8.8%	9.7%
PAT margin %	-3.6%	8.2%	15.6%	10.6%	-4.2%	1%	2.3%	2.6%
Working capital
Receivable days	—	—	22	31	30	59	61	76
Inventory days	—	—	100	98	88	123	126	183
Payable days	—	—	49	33	45	52	58	49
NWC days	—	—	74	95	73	129	129	210
Leverage
Current ratio	—	—	1.42	1.43	1.2	2.08	1.87	2.26
Debt to EBITDA	—	—	3.56	3.33	2.47	3.97	2.88	3.19
Debt to equity	—	—	1.37	0.72	0.46	0.58	0.51	0.54
Interest coverage	-0.7	15.6	4.4	1.2	0.7	1	1.6	1.6
Asset turnover	—	—	0.91	0.98	1.23	0.86	0.89	0.77
Return ratios
Return on assets %	—	—	14.2%	10.4%	-5.2%	0.9%	2%	2%
Return on capital employed %	—	—	14.9%	12.8%	9.8%	9%	12.2%	10.8%
Return on equity %	—	—	46.3%	23.7%	-11.4%	1.6%	3.7%	3.5%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	55.92%	55.92%	55.41%	49.56%	52.9%	52.9%	52.9%	52.9%	50.8%	50.8%	50.8%	49.67%
	4.01%	3.87%	1.47%	0.69%	0.69%	0.69%	0.72%	0.42%	0.29%	0.3%	0.3%	0.7%
	0.68%	0.68%	1.29%	1.26%	1.27%	1.27%	1.27%	1.59%	2.58%	2.58%	2.58%	1.95%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0.25%	0.25%	0.25%	0.24%
	39.39%	39.53%	41.83%	48.49%	45.14%	45.14%	45.11%	45.09%	46.08%	46.07%	46.07%	47.44%
No. of shareholders	—	—	—	—	—	—	—	—	3,11,914	3,04,644	2,98,388	2,88,478

Promoter holding down 6.25 percentage points since Sep 2023.

65 deals · 2 Aug 2021 – 27 Jun 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
27 Jun 2024	UMASHIV GARMENTS PRIVATE LIMITED	Bulk	NSE	Sell	1,00,00,000	₹14.96	₹14.96 Cr
27 Jun 2024	APEX FINGROW PRIVATE LIMITED	Bulk	NSE	Buy	81,00,000	₹14.99	₹12.14 Cr
26 Jun 2024	UMASHIV GARMENTS PRIVATE LIMITED	Bulk	NSE	Sell	1,00,00,000	₹14.99	₹14.99 Cr
26 Jun 2024	SPV RESORTS AND BANQUETS PRIVATE LIMITED	Bulk	NSE	Buy	55,00,000	₹14.99	₹8.24 Cr
10 May 2024	VIZAG PROFILES PRIVATE LIMITED	Bulk	NSE	Sell	59,00,000	₹13.25	₹7.82 Cr
5 Feb 2024	PACE COMMODITY BROKERS PRIVATE LIMITED	Bulk	NSE	Buy	82,76,980	₹17.72	₹14.67 Cr
5 Feb 2024	PACE COMMODITY BROKERS PRIVATE LIMITED	Bulk	NSE	Sell	82,76,980	₹17.72	₹14.67 Cr
5 Feb 2024	JAINAM BROKING LIMITED	Bulk	NSE	Buy	81,19,117	₹17.72	₹14.39 Cr
5 Feb 2024	JAINAM BROKING LIMITED	Bulk	NSE	Sell	75,98,052	₹17.73	₹13.47 Cr
30 Jan 2024	PACE COMMODITY BROKERS PRIVATE LIMITED	Bulk	NSE	Sell	58,73,002	₹17.58	₹10.32 Cr

1–10 of 65

1 / 7

Mr. BANDI SATISH KUMARExecutive Director-Chairperson related to Promoter-CEO-MD
Mr. BANDI SURESH KUMARExecutive Director
Mr. MOHIT SAI KUMAR BANDIExecutive Director
Mr. SIVA SAGAR RAO YENDAMURINon-Executive - Independent Director
Mr. VEERA BRAHMA RAO AREKAPUDINon-Executive - Independent Director
Mrs. BHAGYAM RAMANINon-Executive - Independent Director
Mr. SUBBARAO VENKATA MUNNANGNon-Executive - Independent Director
Mr. ANIRUDH MISRANon-Executive - Non Independent Director
Mr. Vankina Sri RakeshChief Financial Officer
M Raveendra BabuCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Steel Exchange India Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Jun 2026Transcript AI SummaryPPTREC
Aug 2025Transcript AI Summary PPT REC

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results20 Jul 2026

1

Face value ₹10 → ₹112 Jul 2022 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

27 announcementsExport CSV

30 Sept 2026, 3:54 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	17.9%	21.6%	21.6%	19.7%	15.9%	19.3%	22.2%	25.4%
EBITDA margin %	1.7%	9.1%	12.9%	9.7%	7%	8.9%	10.9%	12.4%
EBIT margin %	-1.2%	5.6%	10.2%	7.5%	5.2%	6.9%	8.8%	9.7%
PAT margin %	-3.6%	8.2%	15.6%	10.6%	-4.2%	1%	2.3%	2.6%
Working capital
Receivable days	—	—	22	31	30	59	61	76
Inventory days	—	—	100	98	88	123	126	183
Payable days	—	—	49	33	45	52	58	49
NWC days	—	—	74	95	73	129	129	210
Leverage
Current ratio	—	—	1.42	1.43	1.2	2.08	1.87	2.26
Debt to EBITDA	—	—	3.56	3.33	2.47	3.97	2.88	3.19
Debt to equity	—	—	1.37	0.72	0.46	0.58	0.51	0.54
Interest coverage	-0.7	15.6	4.4	1.2	0.7	1	1.6	1.6
Asset turnover	—	—	0.91	0.98	1.23	0.86	0.89	0.77
Return ratios
Return on assets %	—	—	14.2%	10.4%	-5.2%	0.9%	2%	2%
Return on capital employed %	—	—	14.9%	12.8%	9.8%	9%	12.2%	10.8%
Return on equity %	—	—	46.3%	23.7%	-11.4%	1.6%	3.7%	3.5%

Date	Category	Subject	Filing
30 Sept 2026, 3:54 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
30 Sept 2026, 3:49 pm	Company Update General	Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 - Outcome Of Schedule Of Analyst/Institutional Investor Meet	PDF
18 Sept 2026, 4:04 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
16 Sept 2026, 6:00 pm	Company Update Monitoring Agency Report	Announcement under Regulation 30 (LODR)-Monitoring Agency Report	PDF
9 Sept 2026, 9:52 am	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
9 Sept 2026, 9:33 am	Company Update General	Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 - Execution Of Memorandum Of Understanding With NMDC Limited	PDF
7 Sept 2026, 6:24 pm	Others Reg. 57 (1) - Certificate of interest payment/Principal in case of NCD	Compliances-Reg. 57 (1) - Certificate of interest payment/Principal in case of NCD	PDF
4 Sept 2026, 10:22 am	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF

Steel Exchange India Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

1

1

Announcements

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

1

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Logistics · revenue

Steel Exchange India Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Board meetings1

Stock splits1

Announcements

Ratio timeline

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Quarterly record

Bulk & block deals

Board and management

Board meetings1

Stock splits1

Profit & loss

Balance sheet

Cash flow

Segment results

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Logistics · revenue

1

1

1

1