For the Quarter ended June 30, 2015 (Q1FY16):
Hyderabad, August 13, 2015: Steel Exchange India Limited (SEIL), engaged in manufacturing and sale of iron and steel products, trading of related products as well as generation and sale of power, declared its financial results for the first quarter ended June 30, 2015.
The company reported its Net Profit at Rs. 8.65crore for Q1FY16, as compared to Rs. 9.05 crore in the corresponding quarter of last fiscal.
Total Income for the quarter ended June 30, 2015 stood at Rs. 317.67 crore, as compared to Rs. 296.76 crore in the same period last year. There is a marginal Increase in revenue.
SEIL’s Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q1FY16 stood at Rs. 45.16, up 47%.
Commenting on the financial performance of the company Mr. B. Satish Kumar, the Chairman and Managing Director, Steel Exchange India Limited, said, “The Quarterly results are satisfactory given the prevailing market conditions. We expect that the market conditions and other factors would improve for the steel industry and the Company will do better in the coming quarters.”
Earnings per share (EPS) for the quarter ended Q1FY16 stood at Rs. 1.49 as compared with Rs. 1.74 for the quarter ended June 30, 2014.
About Steel Exchange Limited (www.seil.co.in ; BSE: 534748)
Steel Exchange India Ltd (SEIL), a part of the Vizag Profiles Group, is Telangana based company engaged in manufacturing and sale of iron and steel products, trading of related products as well as generation and sale of power. The Company's business divisions include Trading, Steel Ingot and Wire Products. The Trading division deals with a range of products from semi and finished steel products to related items such as coal, scrap and sponge iron. The Trading division deals with the products manufactured by the Company, Rashtriya Ispat Nigam Ltd (Vizag Steel), and other manufacturers for special products. Steel Ingot division manufactures ingots using sponge iron and scrap or pig iron. The unit also has a power generation unit using natural gas for captive consumption. The unit of Wire Products division produces high carbon steel wire products. The Integrated Steel Plant (ISP) of the Company is located at Srirampram Village, Vizianagaram District and consists of three units: Sponge Iron Unit, SMS Billet Unit and Rolling Unit. The Company promoted the first steel portalwww.steelexchangeindia.com - a B2B platform to integrate major steel producers in the country and offer a wide range of products online.