Steel Exchange India Limited is an integrated steel maker with the capacity to produce
Billet & Ingots
Steel Exchange India Limited (SEIL) is the flagship company of the Vizag Profiles Group. Established in 1999, SEIL is a leading manufacturer of TMT Rebars under the brand 'SIMHADRI TMT'.
The firm is primarily engaged in the manufacturing of steel products and allied activities at its Integrated Steel Plant located close to Visakhapatnam, Andhra Pradesh.
The promoters of the Vizag Profiles Group come from a background of trading in steel and allied products. In 1999 as part of diversification efforts, the Group ventured into the software sector by incorporating Pyxis Technology Solutions Limited (PTSL). PTSL focused on development of B2B specific online solutions. In December 1999, SEIL was incorporated as a 100% subsidiary of PTSL to start an online steel trading portal, steelexchangeindia.com.
In 2002, the promoters began the backward integration of their steel trading activities with the acquisition of Simhadri Steels Private Limited (SSPL), a sick rolling mill with an installed capacity of 45,000 tons per annum and turned it around.
In 2003, the 100% subsidiary and SSPL were merged with PTSL under the 'Scheme of Amalgamation' and the combined entity was renamed as Steel Exchange India Limited (SEIL).
In 2005, the firm set up a gas based power plant and ingot manufacturing unit at Kothapeta in East Godavari District, Andhra Pradesh keeping in line with earlier plans for the backward integration with the steel trading activities.
In 2008, the firm became a strategic investor in the revival and rehabilitation of GSAL (India) Limited, a sick company referred to the BIFR. The unit is located in about 400 acres of land located close to Visakhapatnam, Andhra Pradesh. At the time, GSAL (India) Limited owned only a 220,000 MTPA capacity sponge iron unit. After the acquisition, as part of the rehabilitation plan, SEIL set up forward integration units i.e. a 250,000 MTPA capacity SMS billet unit and a 225,000 MTPA capacity rolling mill in 2010 for the captive consumption of sponge iron. In the process SEIL established an Integrated Steel Plant capable of manufacturing finished long products from iron ore.
SEIL floated an SPV, Simhadri Power Limited (SPL), to setup a co-generation power plant with an installed capacity of 60 MW in order to support its power requirement. The power plant was commissioned in 2012. To achieve operational synergy among the group firms and as a part of fiscal consolidation, SEIL and SPL were merged in 2013.
The current manufacturing facilities of the firm are the Integrated Steel Plant (ISP) close to Visakhapatnam and the SMS & Power Unit at Kothapeta. The ISP has a 220000 MTPA Sponge Iron Unit, 250000 MTPA Steel melt Shop, 225000 MTPA Rolling Mill and 60 MW Co-generation Power Plant. The SMS & Power Unit has a 11.84 MW gas based power plant and 90000 MTPA Steel Melt Shop.
SEIL's ISP has the distinction of being the largest private integrated steel plant in the two Telugu States, Andhra Pradesh & Telangana.
'SIMHADRI TMT' the brand under which the firm's rebars are marketed has a strong recall value among steel consumers. SEIL takes pride in the fact that we are one of the few manufacturers of CRS grade rebars in the country who supply to the Armed Forces of India and projects of National Importance.
Responding to the clarion call of the Prime Minister of India for an 'Atmanirbhar Bharat', SEIL is taking steps to diversify into the production of Specialty Steels by taking advantage of the Production Linked Incentives provided by the Government of India.