Steel Exchange India jumps after increasing production capacity at Andhra Pradesh plant

Steel Exchange India rallied 3.27% to Rs 7.90 after the company increased the production capacities of Billet mill and Rolling Bar mill at its plant located at Visakhapatnam, Andhra Pradesh (AP).

The billet production mill capacity has been increased by 44.8% to 3,62,000 tons per annum (TPA), up from the existing capacity of 2,50,000 tons per annum (TPA). Meanwhile, the Rolling Bar mill capacity has increased by 58.67%, from the existing capacity of 2,25,000 TPA to 3,57,000 TPA.

The said expansion can potentially save up to Rs 3000/ per ton of 8 millimeter (mm) and 10 mm sizes produced which were getting processed outside till now.

Steel Exchange India is primarily engaged in the manufacturing of TMT bars, apart from billets, ingots, and power generation. The company also deals in the sale and purchase of steel products through its trading division and is recognized as one of the largest dealers for Rashtriya Ispat Nigam.

The companys consolidated net profit stood at Rs 15.86 crore in Q3 FY25, steeply higher than Rs 0.21 crore posted in Q3 FY24. Net sales jumped 27.8% YoY to Rs 327.51 crore in Q3 FY25.

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