Latest news with #SureshKumarBandi
Hans India
06-08-2025
- Business
- Hans India
Steel Exchange India net profit grows to over Rs 10 cr in June quarter
New Delhi: Steel Exchange India on Wednesday posted a multi-fold rise in net profit to Rs 10.23 crore in June quarter, mainly on account of higher income. Steel Exchange India Ltd (SEIL), an integrated steel plant operator, had logged a net profit of Rs 2.58 crore in April-June 2024-25, the company said in a statement. In the first quarter, the company's total income rose to Rs 304.95 crore, up 14.53 per cent from Rs 266.26 crore in the June quarter of 2024-25. During the latest June quarter, the company received a contract for a value up to Rs 210 crore from state-owned RINL for conversion of 1.2 LTPA (lakh tonnes per annum) billets to TMT rebars. "Winning approvals for key infrastructure projects in Andhra Pradesh reaffirm the strength of our brand and the trust placed in our quality," the company's Joint Managing Director Suresh Kumar Bandi said. Part of the Vizag Profiles Group, SEIL operates an integrated steel plant and power unit at Vizianagaram near Visakhapatnam. Rashtriya Ispat Nigam Ltd (RINL), under the Ministry of Steel, is among India's top six steel makers and operates a 7.5-million tonne facility in Visakhapatnam in Andhra Pradesh.
News18
06-08-2025
- Business
- News18
Steel Exchange India net profit grows to over Rs 10 cr in June quarter
Agency: Last Updated: August 06, 2025, 19:15 IST Representational image (Image: News18) New Delhi, Aug 6 (PTI) Steel Exchange India on Wednesday posted a multi-fold rise in net profit to Rs 10.23 crore in June quarter, mainly on account of higher income. Steel Exchange India Ltd (SEIL), an integrated steel plant operator, had logged a net profit of Rs 2.58 crore in April-June 2024-25, the company said in a statement. In the first quarter, the company's total income rose to Rs 304.95 crore, up 14.53 per cent from Rs 266.26 crore in the June quarter of 2024-25. During the latest June quarter, the company received a contract for a value up to Rs 210 crore from state-owned RINL for conversion of 1.2 LTPA (lakh tonnes per annum) billets to TMT rebars. 'Winning approvals for key infrastructure projects in Andhra Pradesh reaffirm the strength of our brand and the trust placed in our quality," the company's Joint Managing Director Suresh Kumar Bandi said. Swipe Left For Next Video View all Part of the Vizag Profiles Group, SEIL operates an integrated steel plant and power unit at Vizianagaram near Visakhapatnam. Rashtriya Ispat Nigam Ltd (RINL), under the Ministry of Steel, is among India's top six steel makers and operates a 7.5-million tonne facility in Visakhapatnam in Andhra Pradesh. PTI ABI HVA (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments News agency-feeds Steel Exchange India net profit grows to over Rs 10 cr in June quarter Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy. Read More
Mint
05-08-2025
- Business
- Mint
Penny stock jumps after strong Q1 results 2025. Details here
Steel Exchange share price rallied over 5% on Tuesday after the company reported its Q1 results. The penny stock jumped as much as 5.08% to ₹ 10.96 apiece on the BSE. Iron and steel manufacturer Steel Exchange India reported a significant jump in its earnings for the first quarter of FY26. The company posted a net profit of ₹ 10.23 crore in Q1FY26, registering a growth of 296.30% from ₹ 2.58 crore in the corresponding quarter of the previous fiscal year. Total income in the June quarter increased 14.53% to ₹ 304.95 crore from ₹ 266.26 crore, year-on-year (YoY). Operational performance in the April-June quarter improved as earnings before interest, tax, depreciation and amortization (EBITDA) rose 32.66% to ₹ 36.35 crore from ₹ 27.40 crore, while EBITDA margin improved by 163 basis points (bps) to 11.92% from 10.29%, YoY. 'The performance reflects growing demand for our SIMHADRI TMT products and the impact of our continued focus on operational efficiency. Winning approvals for key infrastructure projects in Andhra Pradesh reaffirm the strength of our brand and the trust placed in our quality,' said Suresh Kumar Bandi, Joint Managing Director, Steel Exchange India. Steel Exchange India share price gained 5% in one month, and rallied 31% in three months. The smallcap stock has risen 6% in six months, and is up 4% on a year-to-date (YTD) basis. Steel Exchange shares have dropped 19% in one year, and have fallen 33% in three years. However, the penny stock has delivered multibagger returns of 267% in five years. At 12:40 PM, Steel Exchange India share price was trading 1.15% higher at ₹ 10.55 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
