Steel Exchange India Limited Secures 5-Year MES Approval Renewal for TMT Bars
Visakhapatnam - Steel Exchange India Limited (NSE: STEELXIND, BSE: 534748), a prominent integrated steel manufacturer in South India and a trusted name in TMT rebars under the brand SIMHADRI TMT, has secured a five-year renewal of its approval from the Military Engineer Services (MES) under the Ministry of Defence.The renewal significantly reinforces the company’s long-term eligibility for government projects, leveraging stringent quality validation processes, and strengthens its presence within the high entry-barrier institutional segment.
The renewed approval covers the supply of TMT bars of grades Fe 500D and Fe 500D HCRM. These bars, available in the size range of 8 mm to 32 mm, are manufactured at the company's integrated steel plant in Sriram Puram, Vizianagaram, Andhra Pradesh, utilizing TEMPCORE technology.
MES approvals are highly selective, reserved for manufacturers that meet rigorous criteria, establishing a high entry barrier for vendors. This renewal reflects Steel Exchange India’s consistent commitment to quality, process discipline, and adherence to prescribed standards over time. The approval remains subject to ongoing compliance, including testing as per IS 1786:2008 standards and periodic inspection by MES authorities.
Management commented that the renewal reflects the consistent focus on quality and disciplined execution, which are critical for institutional supply. The company views this as a major step in maintaining its participation in MES projects and strengthening its position within government and infrastructure-linked segments.
Company Profile and Operations
Steel Exchange India Limited (SEIL), a part of the Vizag Profiles Group, operates as a leading manufacturer of TMT rebars under the brand 'SIMHADRI TMT'. Founded in 1999, the company has evolved from a steel trading and online platform into a major integrated steel manufacturer in Andhra Pradesh and Telangana.SEIL operates a comprehensive Integrated Steel Plant & Power Unit in Vizianagaram District, Near Visakhapatnam. These facilities house sponge iron, billet, rolling mill, and power generation capacities, enabling complete backward and forward integration for long steel production.
The company has established a strong brand presence and a reliable supply track record to the Armed Forces and critical infrastructure projects. In line with the 'Atmanirbhar Bharat' vision, SEIL is expanding its offerings by diversifying into specialty steels under the PLI scheme, aiming to support import substitution and expand its value-added product portfolio.
STEELXIND Stock Price Movement
Shares of Steel Exchange India Limited are surging to ₹10.43 as of 10:37 AM, rallying 4.09% and gaining ₹0.41 in live trading. The stock has seen robust activity, trading 2.79 million shares so far in the market day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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