Steel Exchange India share price today

Steel Exchange India Ltd's share price was ₹10.84 at the close on 4 November 2026. It has been rising for 24 weeks. That is 3.1% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹7 and ₹13, and at that close it sat 58% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Steel Exchange India Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 1 week in a row.

Over the last 11 years the share price moved +198% while the NIFTY 500 moved +251%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: indian funds and insurers (DIIs) cut their stake for 3 quarters in a row, revenue down on a year earlier for 4 quarters in a row and operating margin up 3 points on a year earlier.

1. Indian funds and insurers (DIIs) cut their stake for 3 quarters in a row

   From 2.6% to 1% of the company by the September 2026 quarter.

2. Revenue down on a year earlier for 4 quarters in a row

   In the June 2026 quarter revenue was ₹270 crore, -10% on a year earlier.

3. Operating margin up 3 points on a year earlier

   13% in the June 2026 quarter, from 10%.

   Why: Margins rose because finished steel prices rose faster than raw material costs during a supply squeeze.

   Next results: check whether the new output turns into steady quarterly sales and profit per ton.

   From the earnings call on 30 Sep 2026.

For April to June 2026 (the quarter ended 30 June 2026), Steel Exchange India reported revenue of ₹270 crore, down 10.0% from ₹300 crore a year earlier, and a profit of ₹15.0 crore, up 50.0% from ₹10.0 crore.

Steel Exchange India results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Steel Exchange India's management discussed these results on a call held on 30 September 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Steel Exchange India closed at ₹10.84 on 4 November 2026, up 20.0% from ₹9.03 a year earlier (7 November 2025) and up 18.0% over five years. Its highest weekly close since March 2016 was ₹25.43 on 8 April 2022.

Steel Exchange India share price: then and now

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

563 weekly closes from 11 March 2016 to 4 November 2026.

4 Nov 2026: Steel Exchange India closed at ₹10.84, up 12.6% on the week and down 3.4% on the month. 30 Sep 2026: Steel Exchange India held its results call for April to June 2026. Management guided: Capacity expansion from 0.5 million tons to 1.5 million tons across three phases; approvals expected within 15 days to 1 month, with phase completion planned end-2027, March 2029 and end-2030.

Earlier

• Results for April to June 2026: Revenue down 10.0% and profit up 50.0% on a year earlier.

Steel Exchange India has paid no dividend on the NSE since 1 April 2021, the start of the period we checked.

Not in its latest year. Steel Exchange India Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 1 of its last 14 reported years, so there is a history but no current dividend.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 30 September 2026, Steel Exchange India's management guided: Capacity expansion from 0.5 million tons to 1.5 million tons across three phases; approvals expected within 15 days to 1 month, with phase completion planned end-2027, March 2029 and end-2030.

“We have recently applied to the government for the expansion of our existing capacity from 0.5 million tons to 1.5 million tons by adding another 1 million tons of capacity.”Mohit Bandi, on the call for April to June 2026

What management guided

• initial rolling-mill capital spending to be funded by internal accruals, shareholder capital and government incentives, with later phases gated by profitability.
• FY27 TMT production around 3 lakh tons, including 250,000-260,000 tons in the six-month period discussed; operating profit per ton around ₹7,000 and demand/margins expected strong through Q1.
• Turnover planned at ₹1,300-1,500 crore over six months and above ₹5,000 crore in three years; operating margin up 3-5% and green-steel margin uplift at least 2%.
• Operating cycle planned near 120 days initially and 60-90 days over two years; outside-Andhra sales planned at 20-30% initially and 50% over two years.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 30 September 2026.

When Steel Exchange India reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Phase-one government approvals and incentive package - check final GO, terms and rolling-mill execution timetable.

Steel Exchange India is on 2 of our India lists: Penny stocks and Copper & metal stocks.

Steel Exchange India Ltd earned ₹15.0 Cr of net profit in the Jun 2026 quarter, +50.0% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY26 profit was ₹27.0 Cr. Over 10 years profit has grown 14.5% a year on average. That is 5.6% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹10.0 Cr. 1 of the last 12 reported quarters were loss-making.

For the full year, FY26 profit was ₹27.0 Cr (+3.8% on the year before).

Why profit moved: revenue changed −10.0% on a year earlier and the margin moved +3.0 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed +17.3% and revenue −12.3%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

Steel Exchange India Ltd reported ₹270 Cr of revenue in the Jun 2026 quarter, −10.0% on the same quarter a year earlier. Over 10 years it has grown −4.4% a year on average. The last full year, FY26, came in at ₹1,054 Cr. The last four reported quarters add to ₹1,029 Cr.

Revenue is everything the company billed its customers in the period.

FY26 revenue was ₹1,054 Cr, −7.5% on the year before.

Recent pace: the last four quarters grew −12.3% on average, against −4.4% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew −12.8%, against −3.3% a year over the last 8 quarters (rolling over); profit over the last 12 months grew −8.8%, against +27.7% a year (rolling over).

Steel Exchange India Ltd's operating margin was 13.0% in the Jun 2026 quarter, 3.0 percentage points higher than the same quarter a year ago. Across 14 years it has been between −1.2% and 15.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +2.2 percentage points on the year while gross margin changed +3.9 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 17% of Steel Exchange India Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 its operations used ₹38.0 Cr of cash, against ₹27.0 Cr of profit. After ₹8.0 Cr of spending on assets, free cash was −₹46.0 Cr: it spent more than its operations brought in.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 17% of profit came in as cash: the cash cycle got 136 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page.

What to look at next: less of the profit turns into cash than it should, and the cash cycle is 136 days longer. The next section looks at where the cash is stuck.

Steel Exchange India Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 210 days in FY26, up from 74 days in FY21. It spent ₹77.0 Cr on assets over the last 3 years. Customers take 77 days to pay, and stock sits for 183 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹1,054 Cr, each day of that cycle ties up about ₹2.9 Cr, so roughly ₹606 Cr is tied up in the business at any time.

FY26: customers took 77 days to pay and stock sat for 183 days, about 6.0 months of sales sitting as stock, for a full cycle of 210 days, longer than FY21's 74.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 183 days. Customers pay about 77 days after that. Suppliers are paid at 49 days. Together that makes the 210-day cycle.

Spending on assets: ₹77.0 Cr over the last 3 years, against ₹73.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building a little beyond replacing what wears out. Work still in progress is ₹6.0 Cr (FY26): assets paid for that are not earning yet.

In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit.

Steel Exchange India Ltd's P/E is 43.5×, near the high end of its own history: higher than 71% of past readings. Its usual P/E (the middle reading) is 23.8×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹0.26.