Steel Exchange India Ltd., announced Excellent results for the Quarter ended June 30, 2021. The total income has increased to ₹ 26313.88 lacs as against ₹ 9909.22lacs during the same quarter in 2020. The net profit has jumped to ₹ 797.87 lacs from ₹ 81.59 lacs.
The earnings per share rose to ₹ 1.02 from ₹ 0.11. The company has managed to perform well inspite of the government mandated lockdown in Andhra Pradesh from mid April to July end due to better realisation. The company has also utilized the lockdown period by undertaking plant maintenance and upgradation activities
The Board has decided that the company will manufacture Speciality steel under PLI scheme announced by Govt of India by suitably revamping existing production facilities.
This will aid the company in achieving higher EBIDTA and profits in the future while contributing to an Atmanirbhar Bharat Integrated Steel Plant – Strategic Location Port based location and multimodal transport connectivity makes for easy transportation of raw material and finished goods. State & National Highways connect to Chennai, Hyderabad, Kolkata, and Bhubaneshwar & Raipur.
Visakhapatnam & Gangavaram Ports and their allied logistics & container facilities are in the vicinity. Large customer base within a 250 Kms radius. SEIL markets its Rebars under the ‘SIMHADRI’ brand name. The brand name has a strong presence in Andhra Pradesh, Telangana, Tamil Nadu, and Karnataka & Kerala. The company has a diversified client list and distribution network. SEIL’s Fe 550D and HSCRM grade Rebars have a reputation as high quality premium products. Company’s marquee clients include Indian Railways, Shapoorji Pallonji, Concor, Novotel, BHEL,
NCC, among many others.