Steel & Iron Products
60 recent notes from companies in this sector. 20 companies tracked.
Fitch lifts JSW Steel rating, opens door to investment grade
Proceeds from the ₹37,300 crore JV asset sale brought debt-to-EBITDA below 2.7x. A sustainable sub-2.0x could trigger a second upgrade to BBB-.
JSW Steel breaks ground on ₹16,350 cr Andhra plant
The integrated steel project in Rayalaseema will add 2 MTPA capacity in two phases, with the first ₹4,500 cr phase already underway. The plant will use EAF technology for low-carbon steel.
Shankara promoter trust buys ₹12.9 cr of stock, lifts stake to 9.34%
The Ballygunge Family Trust purchased 10.02 lakh shares on June 30, increasing its holding from 5.20% to 9.34%. For the ₹312 cr firm, this is a material show of confidence.
Shankara Building loses large shareholder as stake dips below 5%
Rajasthan Global Securities sold ₹12.3 cr of stock, cutting its holding to 4.24% from 8.17%. The sale came as the promoter trust bought ₹12.9 cr of shares.
Ashiana Ispat's FY26 results get qualified audit, going concern flag
After repeated delays, the board approvals come with an auditor's qualified opinion citing pending confirmations, insufficient documentation, and going concern uncertainty. Market cap: ₹14 cr.
Rathi Steel slashes cost savings guidance by 99%, cancels expansion plans
In a concall, management cut expected hot charging savings from ₹3,000-4,000 per ton to ₹1.5-2 per ton and said no expansion beyond maintenance. FY26 revenue up 42% but utilisation at 50-55%.
Maiden Forgings targets 60-70% revenue from defense within 3 years
FY26 revenue of ₹234 cr grew 12-13%; FY27 guided 20-25% higher. But the real bet is defense: ₹400-500 cr in medium term, from a company that currently does ₹3 cr net profit.
Kalyani Steels appoints former EIL chief Vartika Shukla as independent director
Vartika Shukla, who oversaw $100B+ in energy projects at Engineers India, joins the board for a five-year term. Appointment is subject to shareholder approval.
Bansal Wire promoter to sell 2.99% stake to meet public shareholding norms
Mrinaal Mittal will offload up to 46.8 lakh shares worth ₹148 cr in open market from June 25. The promoter group's 77.99% holding is above the 75% limit.
VISA Chrome sees ACRE sell 3.34% stake after pledge invocation
ACRE sold 4.88M shares in the open market (June 10-22), cutting its stake from 16.32% to 12.97%, signalling active monetisation and adding supply overhang to a micro-cap with negative equity.
Aanchal Ispat promoter to infuse ₹8.65 cr via warrants, stake to hit 60%
The preferential issue of 10.55 lakh fully convertible warrants at ₹82 each comes on the heels of a ₹7 cr QIP, signaling strong promoter backing for the ₹42-cr nano-cap steel firm.
MSP Steel promoters spend ~₹55 cr to lift stake to 45.12%
Open market purchases of 1.30 crore shares (2.30% of capital) between June 12-22, 2026, follow a similar 2.61% increase earlier this month and come as the steelmaker swings to a profit.
Mahamaya Steel gets investment-grade rating from Brickwork
Brickwork assigned BWR BBB+/Stable and BWR A2 to ₹51.47 cr bank facilities, complementing Mahamaya's existing Infomerics BBB rating.
Nova Iron & Steel promoters consolidate stake amid insolvency
Aromatic Steel picks up 9.22% from fellow promoter Nilanchal Investments for ₹3.66 cr, raising total promoter holding to 44.16%. The deal closes after June 2026, as the company undergoes insolvency.
Swagat Trexim sells another 2.27% in MSP Steel, now down to 1.44%
Swagat Trexim reduces MSP Steel stake to 1.44% with a ₹52 crore share sale, the second such tranche in two weeks.
MSP Steel board okays change in warrant fund use; details absent
Variation in use of preferential warrant proceeds requires shareholder nod at EGM on July 14, 2026. The filing offers no specifics on quantum or purpose.
Scan Steels eyes ₹850 cr capex to nearly quadruple capacity
Board discussed a preliminary ₹850 cr plan (373% of market cap) to add pellet, DRI, and power plants, targeting 7.5 LTPA by FY31. Non-binding.
MSP Steel signs 25-year solar PPA, plans 26% stake in supplier
The steelmaker locks in 10 MWp solar power at ₹3.17/unit under group captive open access, aiming to cut energy costs. A 26% equity stake in Elevate Solar is on the table.
ICRA assigns initial rating to Manaksia Steels, matching CARE grade
Fresh ICRA rating for ₹500 cr bank facilities is an initial assignment, not a revision, and mirrors existing CARE ratings. Nano-cap market cap is ~₹453 cr, making rated facilities 113% of size.
Maiden Forgings MD cuts peak revenue target, admits past mindset issues
Nishant Garg downgrades expanded capacity potential to ₹550-600 cr from ₹700-800 cr, flags internal problems before Oct '23, and lays out a ₹1,000 cr revenue roadmap by FY30.
Systematic Industries sees ₹1,000 cr OPGW pipeline as it pivots from legacy steel
FY26 revenue of ₹5,563 million, up 24%; net profit ₹205 million; company net debt-free. Legacy steel still 97% of revenue but new segments target bottom-line from FY27.
Karbonsteel targets ₹400 cr revenue in FY26 as order book surges 75%
FY25 normalized PAT at ₹16.56 cr after one-time hits; management guides EBITDA margins of 12-13%.
MSP Steel board to consider changing use of warrant funds
The small-cap steelmaker's board will meet to vary the use of proceeds from a preferential convertible warrant issue. No details on the size or direction of the change, but the agenda is new.
Systematic Industries lands first Power Grid EPC order, eyes ₹1,000 cr OPGW pipeline
The company's entry into utility-grade OPGW and OFC markets, backed by a net-debt-free balance sheet, sets the stage for revenue growth acceleration beyond 25%.
Bansal Wire lands trial order from leading tyre maker
A trial purchase order for steel tyre cord from one of India's largest tyre manufacturers marks Bansal Wire's entry into a technically demanding segment, though the value remains undisclosed.
Prakash Industries secures environmental nod for coal mine expansion
The clearance is for a 0.2 MTPA capacity expansion (20% increase) at the Bhaskarpara Coal Mine, a routine regulatory step already disclosed in Q3 results. The impact is limited given the company's scale.
MSP Steel promoter group buys 2.6% in ₹60 cr open-market splurge
Saket Agrawal and entities raise holding to 42.82% from 40.22% over nine trading days. The purchase follows a ₹500 cr capex plan and a swing to profit.
Karbonsteel targets ₹400 cr revenue in FY26 as order book hits ₹350 cr
The company expects EBITDA margins of 12-13% from 10.86% in FY25, driven by automation and capacity expansion to 54,000 tons. Guidance comes despite the planned Khopoli plant shutdown.
MSP Steel large shareholder cuts 2.27% stake in five days
Swagat Trexim Private Limited reduced its holding from 5.98% to 3.71% in early June 2026, crossing the 2% disclosure threshold, but the sale does not affect operations.
Rajasthan Tube promoters sold 2M shares, deny control
Harish Chand Jain and family sold over 2 million shares in FY26 and claim they haven't controlled the company since June 2025. Their names remain in the promoter register pending regulatory updates.
JTL lands ₹26.74 cr Himachal water-pipes order
The one-time contract is a sliver of revenue but a live round into an order book that has been losing momentum.
India Homes promoter sells shares as capital restructuring hits walls
Isisales India offloaded 0.31% of equity via off-market trades, trimming the promoter group's stake. The sale comes as a rights issue and loan conversion both face regulatory hurdles.
Pawan Modi now holds 36% of National General after gift from Ashok Modi
A 22.3% equity shift within the promoter family concentrates control at a ₹28 crore steel company.
ACRE seizes 16.3% of VISA Chrome via promoter pledge
The creditor took control of 23.8 million shares on June 5 to recover restructured debt. The promoter's stake is now up for sale.
Rathi Steel skips the furnace in a hot-charging trial at Ghaziabad
Billets went straight from the caster to the TMT mill, cutting a fuel-heavy step. The company has previously estimated this saves ₹3,000-4,000 per ton.
Promoter exits Nova Iron & Steel as related parties buy 9% stake for ₹3.6 cr
Aniket Singal's stake drops to zero in a ₹3.6 cr transfer to two promoter-group entities, completed during the company's insolvency process.
Frontier Springs Q4 FY26 concall transcript confirms prior guidance
The transcript adds nothing beyond what was already disclosed in the earnings release and concall summary. Margin guidance, order book, and new products all previously communicated.
Vibhor Steel Tubes spins off infra arm for higher-margin push
Viyom Steel Infra will make transmission towers and monopoles, targeting 25-30% of Vibhor's revenue by FY27.
Aanchal Ispat is raising ₹10 cr via QIP. That's 71% of its market cap.
The steel maker launched a book-built share sale at a floor price of ₹45.45 a share, a capital raise that will dwarf its existing equity base.
SEBI hits Oil Country Tubular with notice over hidden ICDs and unapproved deals
The regulator alleges the company concealed inter-corporate deposits and executed material related-party transactions without any of the required approvals.
Rathi Steel's melting shop is running at half capacity, not the 80% it promised.
Revenue surged 41.7% in FY26, but the steel mill that drove it is only 50-52% utilized, well short of the earlier 80% target.
Frontier Springs cuts FY27 margin outlook on fixed-price contracts
EBITDA guidance falls to 23-24% from 26.8% last year as raw material costs bite. Revenue target stays at ₹500 cr.
Venus Pipes lands ₹185 cr data-center order, pushes capex to ₹200 cr
Management targets 18% EBITDA margins by FY28, betting integrated cooling spools fetch more than commodity pipes.
Cosmic CRF's growth plan rests on tripling capacity through Amzen
The micro-cap plans to reach 350,000 metric tons by integrating a larger acquisition, now legally cleared. High-margin railway sales are the near-term profitability test.
Rajasthan Tube posts zero revenue and GST default in a quarter of operational stasis
Manufacturing is suspended. Statutory auditors flagged non-payment of GST and unfiled returns for February and March.
Scoda Tubes targets 25% revenue growth for FY27, plans ₹100 cr capex
The pipe maker is building new welded capacity for data centres and HVAC while awaiting final marine certification from Italy's Rina.
MSP Steel swings to profit as it plots a ₹500 cr expansion
The company reported a ₹85.3 cr net profit for the March quarter and announced plans to expand its Raigarh facility by ₹500 cr.
Heera Ispat has zero revenue. Its auditor is questioning its survival.
Four straight quarters with no sales. Cash has drained to ₹2.97 lakhs, and the auditor has issued a qualified going-concern opinion.
Karbonsteel is shutting its Khopoli plant. No buyer, no capital recovery.
The nano-cap closed the underperforming unit at a board meeting that also approved its FY26 results. The plant contributed ₹11 crore, or 3.66% of total turnover.
Tulsyan NEC auditor flags ₹76 cr receivables; director resigns
A recurring audit qualification on 59.5% of trade receivables and a whole-time director's exit deepen governance questions at the loss-making nano-cap.
Ahmedabad Steelcraft's profit jumps 74% on 29% revenue growth
FY26 net profit grew three times faster than revenue, pointing to higher margins or better cost control at the steel trader.
Earthstahl approves its FY26 audit. That's all the filing says.
The board met and ticked the box for its annual results. No revenue, profit, or outlook accompanies the notice.
Hisar Metal Industries names new directors, recommends ₹1 dividend
The board approved full-year FY26 results and replaced two independent directors with new five-year appointees.
Incredible Industries' revenue grows 11% but profit slips 7.8%
Full-year revenue hit ₹840.3 crore, but net profit fell to ₹11.5 crore. Q4 performance was weaker, though the audit was clean.
NMDC Steel posts ₹58.72 cr profit after a ₹2,373.78 cr loss the year before
The Nagarnar plant has moved from a capital-intensive startup to a profitable operation. Full-year revenue jumped 60% to ₹13,641.81 crore as production scaled.
Mittal Sections' ₹148.58 cr revenue grows 8.5%, but profit is flat.
The nano-cap's top line expanded, but net profit barely moved at ₹3.45 cr as operational costs appear to have risen.
Mittal Sections' revenue climbs 8.5%. Its profit barely budged.
A bigger top line didn't flow through to the bottom line at the ₹36 crore market-cap steel processor.
Remi Edelstahl's Q4 profit jumps 165% on stronger tubes business
Net profit hit ₹1.11 crore on 17% revenue growth, making Q4 the standout quarter of FY26.
Moody's lifts Tata Steel to Baa2 on sovereign-linkage tweak, not business change
The upgrade reflects a revised methodology for rating parent support, not a shift in Tata Steel's own credit profile. The change affects multiple large Indian corporates.
Mittal Sections' profit flat at ₹3.46 cr despite 8.5% revenue growth
FY26 top-line gains were fully absorbed by higher costs, leaving net income unchanged for the ₹36 crore market cap company.