Steel Exchange India FY26 profit rises to ₹269.9 cr

Results approved after May 25 board meeting

Steel Exchange India Limited announced its audited financial results for the quarter and year ended March 31, 2026. The board of directors approved the audited numbers at a meeting held on May 25, 2026. The meeting started at 11:30 a.m. and concluded at 2:48 p.m., as disclosed by the company. Along with the results, the board also cleared key senior management appointments in the finance function. The statutory audit reports were submitted with an unmodified opinion, according to the company. The company also reiterated that its trading window remains closed until 48 hours after the declaration of results.

FY26 profit grows despite lower revenue

For FY26, the company reported a net profit of ₹2,699.10 million, up from ₹2,593.42 million in FY25. Converted into a single base unit, the FY26 net profit stands at ₹269.91 crore versus ₹259.34 crore a year earlier. On the revenue side, the company reported revenue from operations of ₹105.94 billion for FY26, compared with ₹114.40 billion in the prior year. In crore terms, that translates to ₹10,594 crore in FY26 versus ₹11,440 crore in FY25. The company’s disclosures therefore point to a year-on-year revenue decline alongside a modest increase in annual profit.

Q4 FY26: net profit rises sharply year-on-year

For the quarter ended March 31, 2026 (Q4 FY26), net profit was reported at ₹123.70 million compared with ₹47.64 million in Q4 FY25. In crore terms, that is ₹12.37 crore in Q4 FY26 versus ₹4.76 crore in Q4 FY25. Revenue for Q4 FY26 was disclosed at ₹28.73 billion, compared with ₹29.14 billion in Q4 FY25. Normalised to ₹ crore, Q4 revenue was ₹2,873 crore versus ₹2,914 crore in the year-ago quarter. The company also reported higher operating profitability in the quarter, supported by an improvement in EBITDA and margins.

Operating performance: EBITDA and margin expand in Q4

Steel Exchange India reported EBITDA of ₹497 million for Q4 FY26, rising from ₹328 million in Q4 FY25. This equals ₹49.70 crore in Q4 FY26 versus ₹32.80 crore in Q4 FY25. The EBITDA margin expanded to 17.30% from 11.25% year-on-year, as per the company’s quarterly disclosure. A separate results summary in the provided material also reflected an operating margin of 17.31% for the March 2026 quarter and 11.25% for the March 2025 quarter. While the datasets use different presentation units, both indicate margin expansion in Q4.

Key finance leadership changes announced

As part of the May 25, 2026 board meeting outcomes, the company appointed Mr. Vankina Sri Rakesh as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) with effect from May 25, 2026. The board also appointed Mr. Suresh Kumar Bandi as Joint Managing Director and Director – Finance. These announcements came alongside the approval of audited results. The combination of audited disclosures and leadership changes is typically relevant for investors tracking financial reporting quality, continuity, and accountability in finance functions.

Audit outcome and compliance disclosures

The company stated that the audit reports were submitted with an unmodified opinion. It also disclosed that the trading window for dealing in the company’s shares remains closed until 48 hours after the declaration of results. This trading window restriction was described as applicable to dealing in the company’s securities around the results announcement. The company’s exchange communication also included the precise start and end time of the board meeting on May 25, 2026.

Interest payment to secured NCD holders

Steel Exchange India also disclosed an interest payment to secured non-convertible debenture (NCD) holders. It completed an interest payment of ₹17,081,874 on May 7, 2026. In ₹ crore terms, this equals about ₹1.71 crore. The company stated the payment matched the due date and was made with no delay. Such updates are typically tracked by investors looking at debt servicing and covenant discipline.

Investor call scheduled for May 28, 2026

Following the board meeting held on May 25, 2026 to approve the audited results, the company announced an Investors’ and Analysts’ Call scheduled for May 28, 2026. The stated purpose was to discuss the audited financial results for the quarter and year ended March 31, 2026. The company reiterated in that context as well that the trading window remains closed until 48 hours post-result declaration.

Preferential issue: shareholders approve warrant allotment

In a separate corporate action disclosed in the provided material, Steel Exchange India Limited shareholders approved the issuance of 36,14,60,300 convertible equity warrants. The warrants were approved at a price of ₹9.45 per warrant. The total amount mentioned for the preferential allotment was ₹341.58 crore, and the approval was said to have been received during an EGM held on March 30, 2026.

Key numbers at a glance (normalised to ₹ crore)

Market impact and what investors will watch

The audited numbers show an increase in FY26 net profit even as revenue declined year-on-year. For Q4, the company reported a sharp year-on-year rise in net profit, alongside a higher EBITDA and a wider EBITDA margin. The disclosures also include governance-related signals, including the audit outcome being unmodified and the company’s reiteration of trading window closure around results. Corporate updates such as the interest payment to secured NCD holders on the due date, and the scheduled investor call on May 28, 2026, provide additional data points for investors assessing financial discipline and transparency. Separately, the shareholder approval for the issuance of convertible warrants at ₹9.45 per warrant for ₹341.58 crore is a capital-raising related development that shareholders may monitor as future updates emerge.

Conclusion

Steel Exchange India’s FY26 audited results show net profit growth to ₹269.91 crore, supported by a stronger Q4 performance where profit and EBITDA increased year-on-year while revenue eased. The company has also announced changes in senior finance leadership, an investor call on May 28, 2026, and confirmed an unmodified audit opinion. Investors are likely to track follow-up disclosures from the investor call and any further steps related to the approved convertible warrant issuance.