Msp Steel & Power Limited (MSPL)

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Msp Steel & Power Limited (MSPL) · mywealthgrid

About

Msp Steel & Power Limited is an Iron & Steel Products manufacturer within the Industrials sector, with a market cap of ₹1,897.65 Cr. Operating at quarterly revenues of ₹800–₹830 Cr, the company is positioned in commodity steel where margins are narrow and subject to sharp cyclical pressures.

Face value: ₹10

Market cap

₹1,843 Cr

P/E

48.6×

P/B

1.8×

Dividend yield

ROE

3.4%

ROCE

12.3%

Debt / equity

0.3

OPM

6.3%

EPS (TTM)

₹0.7

Book value

₹18.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Extreme earnings volatility: net profit swung from a ₹74.77 Cr loss (Sep 2025) to ₹85.31 Cr profit (Mar 2026), indicating operational or market exposure that can rapidly erase earnings
Thin operating margins leave minimal buffer: OPM ranged from 3.36% (Sep 2025) to 9.49% (Mar 2026); below 4%, small revenue declines trigger losses
Weak capital efficiency: ROE of 3.36% is well below typical cost of capital, indicating minimal shareholder value generation from deployed capital
Valuation risk: PE of 50.06 prices in sustained earnings recovery; reversion to loss-making quarters would destroy shareholder value

Generated analysis · source review pending

Growth drivers

Margin recovery trajectory: OPM improved from 3.36% (Sep 2025) to 9.49% (Mar 2026); researcher should verify whether this reflects internal operational gains or temporary market tailwinds
Revenue stabilization at scale: quarterly revenues stable at ₹800–₹830 Cr; growth would require volume expansion or pricing power—verify capex and capacity utilization plans
Leverage capacity for investment: D/E of 0.3 provides financial flexibility; researcher should verify capex intentions and growth strategy
Profitability demonstration: Mar 2026 net profit of ₹85.31 Cr proves the company can generate substantial earnings when conditions align

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹32.5-3.1%1Y

Quick read

rule-based

Pros

+Profit CAGR of 47.2% over the last 5 years

Cons

−Low return on equity of 0.7% (3-yr avg)
−Thin operating margin of 6.3%

Research score

Structured signal from quality, growth, valuation and momentum.

44/100

Business quality: 25
Growth: 55
Valuation: 51

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,533	1,723	2,340	2,550	2,874	2,905	2,843
COGS	1,197	1,320	1,870	2,095	2,295	2,355	2,227
Gross profit	336	403	469	455	579	550	616
	265	261	314	393	453	417	439
	70	142	155	62	125	134	178
OPM %	4.6%	8.3%	6.6%	2.4%	4.4%	4.6%	6.3%
Depreciation	54	55	54	54	55	54	55
Interest	86	79	74	77	88	81	48
	1	1	3	12	38	4	-99
Profit before tax	-68	8	30	-57	21	3	-24
Tax	8	4	4	-7	6	31	-57
Tax %	11.2%	42.4%	14.1%	-11.5%	30.7%	1,207.8%	-242.8%
	-76	5	26	-51	14	-28	34
PAT margin %	-4.9%	0.3%	1.1%	-2%	0.5%	-1%	1.2%
EPS (₹)	-2	0.1	0.7	-1.3	0.4	-0.6	0.6
EPS adjusted (₹)	-2	0.1	0.7	-1.3	0.4	-0.5	0.6
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	385	385	385	385	385	385	567	567
Reserves	—	209	207	233	185	197	412	463
Minority interest	—	0	0	0	0	0	0	0
	—	828	720	826	801	781	261	311
	—	316	199	307	276	274	294	386
Total equity & liabilities	—	1,738	1,511	1,751	1,648	1,638	1,535	1,728
	959	906	855	827	826	816	790	783
CWIP	—	1	1	1	1	1	1	18
Investments	—	47	40	40	46	45	47	59
	—	784	615	884	776	776	697	868
Total assets	—	1,738	1,511	1,751	1,648	1,638	1,535	1,728

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	21.9%	23.4%	20.1%	17.9%	20.1%	18.9%	21.7%
EBITDA margin %	4.6%	8.3%	6.6%	2.4%	4.4%	4.6%	6.3%
EBIT margin %	1.1%	5%	4.3%	0.3%	2.4%	2.8%	4.3%
PAT margin %	-4.9%	0.3%	1.1%	-2%	0.5%	-1%	1.2%
Working capital
Receivable days	18	12	11	11	9	9	11
Inventory days	160	104	89	84	78	74	96
Payable days	55	34	52	36	34	36	53
NWC days	122	82	48	59	53	47	54
Leverage
Current ratio	1.29	1.55	1.4	1.27	1.28	1.26	1.17
Debt to EBITDA	11.78	5.06	5.32	12.87	6.23	1.95	1.75
Debt to equity	1.39	1.22	1.34	1.41	1.34	0.27	0.3
Interest coverage	0.2	1.1	1.4	0.3	1.2	1	2.6
Asset turnover	0.88	1.14	1.34	1.55	1.75	1.89	1.65
Return ratios
Return on assets %	-4.4%	0.3%	1.5%	-3.1%	0.9%	-1.8%	2%
Return on capital employed %	1.6%	7.6%	9.1%	1.8%	10.2%	8.1%	12.3%
Return on equity %	-12.8%	0.8%	4.2%	-8.9%	2.5%	-2.9%	3.3%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	41.62%	41.62%	41.62%	42.15%	42.34%	36.86%	35.24%	35.24%	35.24%	37.74%	40.22%	45.12%
	0%	0%	0.16%	0.33%	1.1%	0.52%	0.4%	0.18%	0.18%	0.37%	0.12%	1.18%
	8.96%	3.14%	3.14%	3.17%	1.91%	12.9%	16.7%	16.7%	16.7%	16.7%	16.8%	15.78%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	49.42%	55.24%	55.08%	54.35%	54.65%	49.72%	47.66%	47.88%	47.88%	45.19%	42.86%	37.92%
No. of shareholders	—	—	—	—	—	—	—	—	59,609	57,646	56,983	55,388

Promoter holding up 3.5 percentage points since Sep 2023.

8 deals · 29 Dec 2021 – 13 Nov 2023

Date	Client	Type	Venue	Side	Quantity	Price	Value
13 Nov 2023	STATE BANK OF INDIA	Bulk	NSE	Sell	19,29,977	₹18.53	₹3.58 Cr
11 Oct 2023	STATE BANK OF INDIA	Bulk	NSE	Sell	42,00,000	₹18.32	₹7.69 Cr
5 Oct 2023	MANSI SHARE AND STOCK ADVISORS PVT LTD	Bulk	NSE	Buy	40,00,000	₹19.15	₹7.66 Cr
5 Oct 2023	PRAGYA MERCANTILE PVT LTD	Bulk	NSE	Sell	27,50,000	₹19.15	₹5.27 Cr
5 Oct 2023	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	NSE	Buy	25,00,000	₹19.15	₹4.79 Cr
28 Sept 2023	STATE BANK OF INDIA	Bulk	NSE	Sell	38,00,000	₹16.30	₹6.19 Cr
27 Sept 2023	STATE BANK OF INDIA	Bulk	NSE	Sell	57,00,000	₹15.55	₹8.86 Cr
29 Dec 2021	BANK OF BARODA	Bulk	NSE	Sell	19,44,149	₹10.93	₹2.12 Cr

1–8 of 8

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. SURESH KUMAR AGRAWALNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. SAKET AGRAWALExecutive Director-MD
Mr. Kamal Kumar JainChief Financial Officer
Mr. MANISH AGRAWALExecutive Director-MD
Mr. PRADIP KUMAR DEYNon-Executive - Non Independent Director
Mrs. SUNEETA MOHANTYNon-Executive - Independent Director
Mr. ANBHAV GOENKANon-Executive - Independent Director
Mr. PRANAB KUMAR CHAKRABARTYNon-Executive - Independent Director
Mr. PRAMODE KUMAR PANDEYNon-Executive - Independent Director
Ms. Shreya KarCompany Secretary and Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Msp Steel & Power Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

3

Dividend dividend14 Sept 2012 · ex-date₹0.25
Final dividend8 Sept 2011 · ex-date₹0.5
Final dividend16 Sept 2010 · ex-date₹0.5

1

Board meeting to consider results31 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

42 announcementsExport CSV

30 Sept 2026, 5:06 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

29 Sept 2026, 5:51 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

8 Sept 2026, 5:30 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

7 Sept 2026, 7:15 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

7 Sept 2026, 7:09 pmAGM/EGM

Notice Of The 57Th Annual General Meeting Of The Company For Financial Year 2025-26 To Be Held On 30/09/2026

AGM PDF

4 Sept 2026, 6:13 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

2 Sept 2026, 9:00 pmCompany Update

Announcement under Regulation 30 (LODR)-Scheme of Arrangement

Scheme of Arrangement PDF

2 Sept 2026, 8:56 pmOthers

Board Meeting Outcome for Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

Outcome without intimation PDF

Date	Category	Subject	Filing
30 Sept 2026, 5:06 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
29 Sept 2026, 5:51 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	21.9%	23.4%	20.1%	17.9%	20.1%	18.9%	21.7%
EBITDA margin %	4.6%	8.3%	6.6%	2.4%	4.4%	4.6%	6.3%
EBIT margin %	1.1%	5%	4.3%	0.3%	2.4%	2.8%	4.3%
PAT margin %	-4.9%	0.3%	1.1%	-2%	0.5%	-1%	1.2%
Working capital
Receivable days	18	12	11	11	9	9	11
Inventory days	160	104	89	84	78	74	96
Payable days	55	34	52	36	34	36	53
NWC days	122	82	48	59	53	47	54
Leverage
Current ratio	1.29	1.55	1.4	1.27	1.28	1.26	1.17
Debt to EBITDA	11.78	5.06	5.32	12.87	6.23	1.95	1.75
Debt to equity	1.39	1.22	1.34	1.41	1.34	0.27	0.3
Interest coverage	0.2	1.1	1.4	0.3	1.2	1	2.6
Asset turnover	0.88	1.14	1.34	1.55	1.75	1.89	1.65
Return ratios
Return on assets %	-4.4%	0.3%	1.5%	-3.1%	0.9%	-1.8%	2%
Return on capital employed %	1.6%	7.6%	9.1%	1.8%	10.2%	8.1%	12.3%
Return on equity %	-12.8%	0.8%	4.2%	-8.9%	2.5%	-2.9%	3.3%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Welspun Corp LimitedWELCORPWELCORP	₹68,741 Cr	₹70,904 Cr	₹17,300 Cr	₹2,403 Cr	13.3%	₹2,309 Cr	9.7%	19.2%	19.4%	85
Apl Apollo Tubes LimitedAPLAPOLLOAPLAPOLLO	₹58,753 Cr	₹59,205 Cr	₹22,897 Cr	₹1,841 Cr	7.8%	₹1,229 Cr	5.2%	30.8%	25.3%	-12
Shyam Metalics And Energy LimitedSHYAMMETLSHYAMMETL	₹29,244 Cr	₹30,225 Cr	₹19,574 Cr	₹2,519 Cr	12.6%	₹860 Cr	5.7%	13.5%	9.7%	8
Ratnamani Metals & Tubes LimitedRATNAMANIRATNAMANI	₹18,362 Cr	₹18,666 Cr	₹4,314 Cr	₹732 Cr	16.9%	₹433 Cr	11.9%	17.8%	12.5%	210
Jindal Saw LimitedJINDALSAWJINDALSAW	₹17,286 Cr	₹21,976 Cr	₹18,263 Cr	₹1,941 Cr	12.4%	₹653 Cr	5.2%	11.4%	8.1%	159
Usha Martin LimitedUSHAMARTUSHAMART	₹14,982 Cr	₹15,128 Cr	₹3,837 Cr	₹768 Cr	19.1%	₹507 Cr	12.6%	20%	15.4%	190
Godawari Power And Ispat LimitedGPILGPIL	₹14,517 Cr	₹14,943 Cr	₹5,808 Cr	₹1,263 Cr	23.3%	₹808 Cr	14.9%	20.1%	14.9%	73
Gallantt Ispat LimitedGALLANTTGALLANTT	₹12,793 Cr	₹13,340 Cr	₹4,437 Cr	₹655 Cr	16.2%	₹436 Cr	11%	19.2%	15.7%	58
Maharashtra Seamless LimitedMAHSEAMLESMAHSEAMLES	₹9,363 Cr	₹9,377 Cr	₹4,620 Cr	₹696 Cr	14.6%	₹737 Cr	15%	13.6%	10.6%	153
Jayaswal Neco Industries LimitedJAYNECOINDJAYNECOIND	₹8,863 Cr	₹10,960 Cr	₹7,589 Cr	₹1,409 Cr	18.6%	₹564 Cr	6.5%	22.9%	17.8%	151
Sunflag Iron And Steel Company LimitedSUNFLAGSUNFLAG	₹7,812 Cr	₹8,286 Cr	₹3,995 Cr	₹476 Cr	12.1%	₹206 Cr	5.1%	3.8%	2.3%	95
Man Industries (India) LimitedMANINDSMANINDS	₹6,912 Cr	₹7,411 Cr	₹3,875 Cr	₹532 Cr	12.3%	₹204 Cr	4.8%	18.4%	9.2%	114

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	77	178	110	81	170	189	148
	-0	-1	-62	-19	-50	-34	-58
	-79	-177	-11	-99	-106	-178	-90
Net cash flow	-2	-0	37	-37	15	-22	0
Free cash flow	75	174	84	27	125	157	89
CFO / Operating profit %	110%	125.3%	71%	130.3%	135.9%	141.4%	83.4%

Msp Steel & Power Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

3

1

Announcements

Not in the F&O segment

No fund holdings on record

3

1

Announcements

Annual reports

Credit ratings

Compounded sales growth

Compounded profit growth

Return on equity

Msp Steel & Power Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Dividends3

Board meetings1

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

No fund holdings on record

Dividends3

Board meetings1

Announcements

Annual reports

Credit ratings

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

3

1

3

1