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Steelco Gujarat FY26 revenue jumps to ₹585.3 crore as loss widens to ₹372.7 crore

AI Market Summary
Steelco Gujarat's FY26 results show a sharp revenue rebound after restarting production post-CIRP, but losses widened due to very high finance costs and extreme leverage (debt'equity ~83x). A secured NCD issuance at a high implied cost and a subsequent rights issue underscore ongoing balance-sheet stress despite operational normalization. The news is largely idiosyncratic and unlikely to shift broader markets.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT+0.18%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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Steelco Gujarat’s FY26 revenue surged more than 13-fold year on year to ₹585.29 crore after it resumed production, but its net loss widened to ₹372.72 crore from ₹205.38 crore. Finance costs accounted for roughly 26% of total income, while the debt-equity ratio stood at 83.47 times. The company raised ₹140 crore in January 2026 through secured listed non-convertible debentures to fund working capital, and later raised about ₹149 crore via a rights issue after the fiscal year.
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