About Steel Exchange India Limited

Steel Exchange India Limited (SEIL), established in 1999, is the flagship company of the Vizag Profiles Group and a leading manufacturer of TMT rebars marketed under the ‘SIMHADRI TMT’ brand. The company operates an Integrated Steel Plant near Visakhapatnam, Andhra Pradesh, which it describes as the largest private integrated steel plant in the state. SEIL’s manufacturing portfolio includes sponge iron, billets, and TMT bars, supported by a 60 MW captive thermal power plant. Additionally, the company runs a trading division engaged in finished steel, semis, coal, and scrap to meet diverse customer needs across Andhra Pradesh’s coastal belt. The company’s operations are predominantly domestic, with minimal foreign currency exposure.

The Integrated Steel Plant at Sreerampuram Village, L. Kota Mandal, Vizianagaram District, comprises four key units — Sponge Iron (2,20,000 TPA), SMS Billet (3,62,000 TPA, increased from 2,50,000 TPA in March 2025), Rolling Mill (3,57,000 TPA, increased from 2,25,000 TPA in March 2025), and a 60 MW Captive Thermal Power Plant. The registered office is in Hyderabad, and the corporate office is located in Visakhapatnam, Andhra Pradesh. As on March 31, 2025, SEIL employed 1,116 personnel, including trainees.

SEIL had no subsidiaries as on March 31, 2025. However, it incorporated one wholly owned subsidiary on June 29, 2025. Key milestones achieved in FY 2024–25 include the commissioning of enhanced rolling and billet capacities in March 2025 following refurbishment and modernisation of production facilities, along with completion of major capital works at the Continuous Casting Machine (CCM) and Rolling Mill.

Key Milestones of Steel Exchange India Limited

• Established in 1999 as the flagship company of the Vizag Profiles Group.
• Commissioned an Integrated Steel Plant near Visakhapatnam with sponge iron, billet, rolling, and captive power facilities.
• Completed a Rs. 93 crore capacity enhancement project in March 2025, raising billet capacity to 3,62,000 TPA and rolling capacity to 3,57,000 TPA.
• Secured a two-year conversion contract from Rashtriya Ispat Nigam Limited to convert 1.20 lakh MTPA of blooms into TMT bars for Vizag Steel.
• Sold the non-operational Kothapeta plant for Rs. 50 crore and redirected proceeds to debt reduction and working capital strengthening.
• Outlined expansion plans to increase ISP capacity from 0.35 MTPA to 1.5 MTPA through Electric Arc Furnaces and initiate a Wire Products Complex at Bobbili Industrial Estate.

Steel Exchange India Limited Business Segment

Manufacturing Verticals:

• Sponge Iron (2,20,000 TPA)
• Billets (3,62,000 TPA after enhancement)
• TMT Bars under the SIMHADRI TMT brand (3,57,000 TPA after expansion)
• Captive Thermal Power Generation – 60 MW

Other Operations:

• Trading of steel, semis, coal, and scrap.
• Contract manufacturing for third-party clients including RINL (Vizag Steel brand).

Geographical Reach:

• Operations are primarily domestic, concentrated along the coastal region of Andhra Pradesh and southern India.
• Minimal foreign currency exposure, with negligible exports reported.

SEIL operates a single integrated steel business comprising manufacturing and trading activities. The manufacturing segment spans the production of sponge iron, billets, and rolled TMT bars, supported by captive power generation. The trading division facilitates the sale and distribution of steel products, semis, coal, and scrap. Enhanced capacity commissioning in FY 2024–25 has strengthened SEIL’s integrated operations, allowing greater operational efficiency and improved margins. The company’s expansion roadmap includes scaling the ISP from 0.35 MTPA to 1.5 MTPA through Electric Arc Furnaces and investing in a permanent Wire Products Complex at Bobbili Industrial Estate.

Steel Exchange India Limited Key Management

• Bandi Satish Kumar – Chairman & Managing Director
• Bandi Suresh Kumar – Joint Managing Director
• Mohit Sai Kumar Bandi – Whole-Time Director
• T. Brahmaiah – Chief Financial Officer
• M. Raveendra Babu – Company Secretary & Compliance Officer

Latest Updates on Steel Exchange India Limited

• Capacity enhancement: Completed refurbishment and modernisation projects worth Rs. 93 crore, increasing billet capacity to 3,62,000 TPA and rolling output to 3,57,000 TPA. Commercial production under enhanced capacities began in March 2025.
• RINL conversion contract: Secured a two-year extendable contract from Rashtriya Ispat Nigam Limited for conversion of 1.20 lakh MTPA of 150 MM blooms into TMT bars under the Vizag Steel brand. The company is installing a Re-Heating plant and additional rolling infrastructure for larger bloom sizes, with operations expected in Q4 FY 2025–26.
• Asset monetisation: Divested the idle Kothapeta plant (non-operational for over five years due to gas supply issues) for Rs. 50 crore including GST; proceeds allocated to NCD repayment and working capital. Additional asset monetisation opportunities under review.
• Growth and expansion: Announced phased augmentation of plant capacity to 1.5 MTPA via Electric Arc Furnaces and development of a greenfield Wire Products Complex at Bobbili Industrial Estate, with strategic support from RINL.
• Corporate governance updates: Approved issue of securities up to Rs. 600 crore and appointed Subbarao Venkata Munnang as Independent Director at the EGM held on January 10, 2025. Disclosed additional board and leadership appointments during the period.