Steel Exchange India Ltd 47% year-on-year net profit

Steel Exchange India reported a 47% year-on-year rise in consolidated net profit to ₹15.03 crore for the quarter ended June 30, 2026, although revenue from operations declined 10% to ₹269.71 crore. The company has been raising capital to strengthen its balance sheet and fund operations: it secured ₹85 crore in advance through convertible warrants as part of a ₹350 crore preferential issue, with Switzerland-based IMR Group committing ₹300 crore through Indian entities. Management has also been reducing debt, repaying ₹43 crore of non-convertible debentures in a single tranche and over 20% of long-term debt since October. The company appointed Anirudh Misra (IMR Group founder) as an additional non-executive director and Vankina Sri Rakes as CFO, while renewing its Ministry of Defence approval for TMT-bar supplies for five years. The 27th AGM is scheduled for August 22, 2026, to consider these and other corporate matters.