MSP Steel & Power Ltd

MSPL

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Market Cap

₹ 2,107 Cr

P/E

116.16

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Investment Checklist

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Performance

STEADY PERFORMER

Valuation

OVERVALUED

Growth

STABLE

Profitability

LOW MARGIN

Technicals

Bullish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

MSP Steel & Power Limited is a Kolkata-based steel manufacturer involved in production of iron, steel, generation of power, and marketing their TMT bars under the brand MSP Gold Theremax TMT.

The company has evolved from a single-product unit to a diversified steel producer with integrated production capabilities, contributing significantly to India's industrial economy.

MSP Steel & Power Limited has expanded its facilities throughout the years, including sponge iron plants, power generation units, and rolling mills, supporting its growth into a major steel company.

In 2006, MSP Steel & Power Limited's shares were listed on the Bombay Stock Exchange and National Stock Exchange, marking a significant milestone in its public corporate journey.

The company has engaged in strategic expansions, including collaborations with state governments and joint ventures, to diversify its product offerings and enhance production capabilities.

Sector

Steel

Industry

Steel - Medium / Small

Market Cap

2,107 Cr

Volatility

High Risk

P/E Ratio

116.2

Industry P/E

24.2

PEG Ratio

—

P/B Ratio

2.3

52W High

48.50

52W Low

21.51

Sales CAGR

1.09%

7.49%

13.64%

10Y

12.49%

Profit CAGR

-297.63%

—

10Y

—

ROE

TTM

2.01%

-3.20%

-0.87%

10Y

-7.44%

ROCE

TTM

6.81%

6.82%

7.66%

10Y

4.49%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
PENIND	201.50	2,722 Cr	20.90	2.54	0.00	12.17	14.54	3.91
AEROFLEX	183.20	2,369 Cr	49.51	6.58	0.16	13.29	17.51	10.19
MSPL	37.00	2,107 Cr	116.16	2.31	0.00	2.01	6.81	-5.49
RHETAN	24.62	1,962 Cr	351.71	20.22	0.00	5.64	5.13	3.82
MUKANDLTD	132.50	1,917 Cr	29.62	2.00	1.51	6.76	8.90	1.71
SALASAR	9.08	1,582 Cr	56.56	1.88	0.00	3.38	10.06	1.70
MANAKCOAT	135.10	1,430 Cr	37.65	4.27	0.03	11.34	18.93	5.10

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	671	674	781	748	772	656	717	760	711	677
Expenses	638	645	742	724	729	630	698	715	666	654
Operating Profit	33	29	39	25	43	27	19	45	45	23
OPM %	4.89	4.26	5.02	3.30	5.60	4.07	2.68	5.88	6.31	3.36
Other Income	1.02	9.70	10	18	1.19	0.14	0.47	1.83	0.54	-100
Interest	17	20	25	25	21	22	16	23	10	9.83
Depreciation	14	14	14	13	14	13	14	13	14	14
Profit Before Tax	2.99	3.72	10	3.98	10	-8.45	-9.71	10	22	-100
Tax %	160.87	144.09	52.30	-227.39	33.79	-12.78	184.65	422.81	17.14	25.60
Net Profit	-1.82	-1.64	4.78	13	6.78	-9.53	8.22	-34	18	-75
EPS in Rs	-0.03	-0.03	0.07	0.21	0.11	-0.17	0.17	-0.64	0.30	-1.32

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	942	1,188	1,670	1,533	1,723	2,340	2,550	2,874	2,905	2,844
Expenses	775	1,043	1,539	1,462	1,581	2,184	2,487	2,748	2,771	2,709
Operating Profit	167	145	130	70	142	155	64	125	134	135
OPM %	17.74	12.19	7.81	4.58	8.26	6.63	2.50	4.36	4.61	4.76
Other Income	0.91	7.40	1.45	0.97	0.85	3.40	15	38	3.64	2.98
Interest	123	129	79	86	79	74	82	88	81	71
Depreciation	56	57	55	54	55	54	54	55	54	54
Profit Before Tax	-104	-62	-1.96	-68	8.47	30	-57	21	2.56	14
Tax %	10.03	9.51	-953.44	-11.20	42.40	14.10	11.51	30.67	1,206.75	224.91
Net Profit	-94	-56	-21	-76	4.88	26	-51	14	-28	-17
EPS in Rs	—	—	-0.31	-1.29	0.08	0.41	-0.82	0.23	-0.53	-1.49
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	88	88	385	385	385	385	385	385	385	567
Reserves	427	335	297	289	209	207	233	185	197	412
Borrowings	1,095	1,125	842	813	828	766	826	801	781	262
Other Liabilities	160	248	262	221	316	153	307	277	274	293
Total Liabilities	1,770	1,796	1,786	1,709	1,738	1,511	1,751	1,648	1,638	1,535
Fixed Assets	1,127	1,070	1,013	959	906	855	827	826	816	790
CWIP	1.24	0.59	0.79	1.72	1.18	1.18	0.59	0.59	0.59	0.59
Investments	52	55	50	53	47	40	40	46	45	47
Other Assets	590	670	722	695	784	615	884	776	776	697
Total Assets	1,770	1,796	1,786	1,709	1,738	1,511	1,751	1,648	1,638	1,535

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-22	73	147	94	77	178	110	86	170	189
Cash from Investing Activity	84	0.87	-19	14	-0.30	-1.11	-62	-19	-50	-34
Cash from Financing Activity	-78	-61	-122	-108	-79	-177	-11	-104	-106	-178
Net Cash Flow	-17	13	6.09	0.23	-2.28	-0.20	37	-37	15	-22

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	41.62%	41.62%	41.62%	41.62%	41.62%	41.62%	42.34%	42.34%	36.86%	35.24%	35.24%	35.24%
FIIs	0.01%	0.00%	0.00%	0.00%	0.00%	0.16%	0.33%	1.10%	0.52%	0.40%	0.18%	0.18%
DIIs	16.61%	16.60%	16.60%	8.96%	3.14%	3.14%	3.17%	1.91%	12.90%	16.70%	16.70%	16.70%
Public	41.77%	41.78%	41.78%	49.42%	55.24%	55.08%	54.16%	54.65%	49.72%	47.66%	47.88%	47.88%
Total Shareholders	57,384	57,690	57,536	54,764	48,600	49,660	51,687	58,970	59,460	59,211	58,804	59,609

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Dec 15, 2025	Shree vinay finvest p ltd..	Insider - Promoter Group	Acquisition	36.66	0.02 Cr	5,600	0.00
Dec 15, 2025	Ilex private limited	Insider - Promoter Group	Acquisition	36.76	3.23 Cr	8,79,800	0.15
Dec 15, 2025	Jagran vyapaar pvt ltd	Insider - Promoter Group	Acquisition	36.28	0.47 Cr	1,30,600	0.02
Dec 15, 2025	Jagran vyapaar pvt ltd	Insider - Promoter Group	Acquisition	35.72	1.50 Cr	4,20,000	0.07
Dec 15, 2025	Shree vinay finvest p ltd..	Insider - Promoter Group	Acquisition	36.18	2.02 Cr	5,59,000	0.09
Dec 11, 2025	Jagran vyapaar pvt ltd	Insider - Promoter Group	Acquisition	35.73	2.01 Cr	5,63,500	0.09
Dec 11, 2025	Jaik leasing and commercial i...	Insider - Promoter Group	Acquisition	36.57	0.69 Cr	1,90,000	0.03
Dec 11, 2025	Shree vinay finvest p ltd..	Insider - Promoter Group	Acquisition	36.78	1.21 Cr	3,30,000	0.05
Dec 08, 2025	Shree vinay finvest p ltd..	Insider - Promoter Group	Acquisition	37.41	4.18 Cr	11,17,500	0.19
Dec 04, 2025	Shree vinay finvest p ltd..	Insider - Promoter Group	Acquisition	37.33	4.70 Cr	12,57,600	0.22

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

Insider Trading Disclosure

22 hours ago

Promoter Entities' Open Market Purchases

Disclosure of open market purchases of equity shares by promoter entities including Shree Vinay Finvest Pvt Ltd and Jagran Vyapaar Pvt Ltd, as per SEBI regulations.

Voting Results

3 days ago

Voting Results of Extra Ordinary General Meeting

Submission of voting results and the Scrutinizer's report for the Extraordinary General Meeting of MSP Steel & Power Limited held on December 12, 2025.

Shareholder Meeting

3 days ago

Outcome of Extraordinary General Meeting

The Extra-Ordinary General Meeting of MSP Steel & Power Limited was held on December 12, 2025, where all business items were approved by members through electronic voting.

Insider Trading Disclosure

4 days ago

Promoter Entities Purchase Shares

Three promoter entities disclosed open market purchases of a combined total of 10,83,500 equity shares of MSP Steel & Power Ltd.

Corporate Action

5 days ago

Corrigendum to EGM Notice

A corrigendum has been issued modifying the Special Resolution and explanatory statement for the Extra-Ordinary General Meeting scheduled on December 12, 2025.

Documents

Presentations

Concalls

Reports

Presentations

No documents found!

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Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	671	674	781	748	772	656	717	760	711	677
Expenses	638	645	742	724	729	630	698	715	666	654
Operating Profit	33	29	39	25	43	27	19	45	45	23
OPM %	4.89	4.26	5.02	3.30	5.60	4.07	2.68	5.88	6.31	3.36
Other Income	1.02	9.70	10	18	1.19	0.14	0.47	1.83	0.54	-100
Interest	17	20	25	25	21	22	16	23	10	9.83
Depreciation	14	14	14	13	14	13	14	13	14	14
Profit Before Tax	2.99	3.72	10	3.98	10	-8.45	-9.71	10	22	-100
Tax %	160.87	144.09	52.30	-227.39	33.79	-12.78	184.65	422.81	17.14	25.60
Net Profit	-1.82	-1.64	4.78	13	6.78	-9.53	8.22	-34	18	-75
EPS in Rs	-0.03	-0.03	0.07	0.21	0.11	-0.17	0.17	-0.64	0.30	-1.32

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	942	1,188	1,670	1,533	1,723	2,340	2,550	2,874	2,905	2,844
Expenses	775	1,043	1,539	1,462	1,581	2,184	2,487	2,748	2,771	2,709
Operating Profit	167	145	130	70	142	155	64	125	134	135
OPM %	17.74	12.19	7.81	4.58	8.26	6.63	2.50	4.36	4.61	4.76
Other Income	0.91	7.40	1.45	0.97	0.85	3.40	15	38	3.64	2.98
Interest	123	129	79	86	79	74	82	88	81	71
Depreciation	56	57	55	54	55	54	54	55	54	54
Profit Before Tax	-104	-62	-1.96	-68	8.47	30	-57	21	2.56	14
Tax %	10.03	9.51	-953.44	-11.20	42.40	14.10	11.51	30.67	1,206.75	224.91
Net Profit	-94	-56	-21	-76	4.88	26	-51	14	-28	-17
EPS in Rs	—	—	-0.31	-1.29	0.08	0.41	-0.82	0.23	-0.53	-1.49
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	88	88	385	385	385	385	385	385	385	567
Reserves	427	335	297	289	209	207	233	185	197	412
Borrowings	1,095	1,125	842	813	828	766	826	801	781	262
Other Liabilities	160	248	262	221	316	153	307	277	274	293
Total Liabilities	1,770	1,796	1,786	1,709	1,738	1,511	1,751	1,648	1,638	1,535
Fixed Assets	1,127	1,070	1,013	959	906	855	827	826	816	790
CWIP	1.24	0.59	0.79	1.72	1.18	1.18	0.59	0.59	0.59	0.59
Investments	52	55	50	53	47	40	40	46	45	47
Other Assets	590	670	722	695	784	615	884	776	776	697
Total Assets	1,770	1,796	1,786	1,709	1,738	1,511	1,751	1,648	1,638	1,535

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-22	73	147	94	77	178	110	86	170	189
Cash from Investing Activity	84	0.87	-19	14	-0.30	-1.11	-62	-19	-50	-34
Cash from Financing Activity	-78	-61	-122	-108	-79	-177	-11	-104	-106	-178
Net Cash Flow	-17	13	6.09	0.23	-2.28	-0.20	37	-37	15	-22

Overview

Detailed Summary

MSP Steel & Power Limited is a Kolkata-based steel manufacturer involved in production of iron, steel, generation of power, and marketing their TMT bars under the brand MSP Gold Theremax TMT.

The company has evolved from a single-product unit to a diversified steel producer with integrated production capabilities, contributing significantly to India's industrial economy.

MSP Steel & Power Limited has expanded its facilities throughout the years, including sponge iron plants, power generation units, and rolling mills, supporting its growth into a major steel company.

In 2006, MSP Steel & Power Limited's shares were listed on the Bombay Stock Exchange and National Stock Exchange, marking a significant milestone in its public corporate journey.

The company has engaged in strategic expansions, including collaborations with state governments and joint ventures, to diversify its product offerings and enhance production capabilities.

Sector

Steel

Industry

Steel - Medium / Small

Market Cap

2,107 Cr

Volatility

High Risk

P/E Ratio

116.2

Industry P/E

24.2

PEG Ratio

—

P/B Ratio

2.3

52W High

48.50

52W Low

21.51

Sales CAGR

1.09%

7.49%

13.64%

10Y

12.49%

Profit CAGR

-297.63%

—

10Y

—

ROE

TTM

2.01%

-3.20%

-0.87%

10Y

-7.44%

ROCE

TTM

6.81%

6.82%

7.66%

10Y

4.49%