Steel Exchange

NSE: STEELXIND · Iron & Steel Products

52W Range₹7 ₹14

Snapshot

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Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Steel Exchange India Limited is a manufacturer and trader of steel products, including TMT bars, steel ingots, billets, and sponge iron. The company operates an integrated steel plant and generates power through waste heat recovery.

Business Model

The company generates revenue through the production and sale of steel products under the Simhadri TMT brand and by trading in various steel-related commodities. It further optimises operational costs by utilising waste heat for power generation.

Growth Outlook

Growth is primarily driven by the demand for construction-grade steel products and the operational efficiency gained from its integrated manufacturing facilities. The company continues to leverage its trading division to maintain market presence across diverse steel segments.

Key Risks

  • Raw Material Price Volatility. Fluctuations in the prices of iron ore, coal, and scrap metal significantly impact the company's manufacturing margins.
  • Cyclicality of Steel Industry. The steel sector is highly sensitive to economic cycles and infrastructure spending, which can lead to volatile demand patterns.
  • Regulatory and Environmental Compliance. Stringent environmental regulations regarding emissions and waste management in steel production pose ongoing operational and compliance risks.
  • Competitive Market Pressure. The company faces intense competition from both large-scale integrated steel producers and numerous smaller regional players.

Price

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Key Metrics

REVENUE

₹1,059 Cr

TTM · standalone

-7.3%YoY

NET PROFIT

₹27 Cr

TTM · standalone

+4.1%YoY

EPS

₹0.23

TTM · standalone

+9.5%YoY

RETURN ON EQUITY

3.7%

TTM · standalone

-0.2 ppYoY

RETURN ON CAPITAL EMPLOYED

11.1%

TTM · standalone

-1.0 ppYoY

P/E

52.4x

Q4 FY26 · standalone

52.4 vs 31.5x5Y avg

EV/EBITDA

14.2x

Q4 FY26 · standalone

14.2 vs 15.5x5Y avg

EBITDA MARGIN

13.0%

TTM · standalone

+0.4 ppYoY

NET PROFIT MARGIN

4.3%

Q4 FY26 · standalone

+2.7 ppYoY

DEBT TO EQUITY

0.4%

Q4 FY26 · standalone

-0.1 ppYoY

Peers · Iron & Steel Products

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Steel ExchangeSTEELXIND
91052.4314.17-7.3%13.0%3.7%11.1%+10.3%
Gandhi Spl. TubeGANDHITUBE
97415.4210.9911.1%49.8%24.6%31.6%+17.7%
Hariom PipeHARIOMPIPE
97216.427.3913.4%12.8%21.9%-16.5%
Ratnaveer PrecisRATNAVEER
95514.5210.3419.8%11.4%14.4%18.9%+17.0%
Rajputana Stain.RSL
9199.0%
Rama Steel TubesRAMASTEEL
80939.9123.897.3%3.1%2.9%7.0%-63.4%

As of Q4 FY26

Financials