MSPLIndustrials

MSP Steel & Power Limited

Iron & Steel Products · ISIN INE752G01015 · BSE 532650 · NSE EQ · FV ₹10
Last price
₹34
+0.81%today
What this company does

MSP Steel & Power Limited operates in Iron & Steel Products, part of the Industrials sector. It booked ₹827 cr of revenue in its latest quarter (Q1 FY27) and kept 2.7% of sales as profit.

Statutory Reports Financial Statement Product Applications Marquee Clientele All our products are manufactured using premium-grade raw materials and subjected to rigorous quality checks to ensure superior performance. Their customisability makes them well-suited for a wide range of applications across multiple segments.
In the report:
55out of 100
Equitytale Health Score
Mixed

Healthier than 55% of companies in Industrials, on all six measures of filed financials. Each measure is ranked against the 60–290 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
45

At close. Not part of the score.

Profitability & returns45

How much profit it earns on the money it employs

Balance sheet42

How much it owes, and whether earnings cover the interest

Cash quality96

Whether reported profit actually arrives as cash

Growth & consistency49

Whether sales and profit have grown, and how steadily

Valuation57

What today's price implies, against our models or its peers

Governance & risk49

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 16% vs last year
Profit up 23% vs last year
Promoters hold 45%
Turns profit into real cash
Watch-outs
! Thin 2.7% net margin
! 63.5% of promoter stake pledged

What if I invest in MSPL?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹34 +0.81%
latest close · 2026-09-17
1-year return
+262.9%
52-wk low ₹952-wk high ₹38
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio21.6Average
LowAverageHigh
P/B ratio1.86Moderate
Below bookModerateHigh
EV / EBITDA10.1Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity8.5%Fair
WeakFairStrong ▸15%
Return on capital15.6%Strong
WeakFairStrong
Net margin2.7%Thin
ThinDecentStrong
EBITDA margin6.7%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.30Comfortable
LowModerateHigh ▸1
Interest cover3.7×Okay
RiskyOkayStrong ▸5×
Current ratio1.17Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹1,913 cr
Book value
₹18
EPS
₹0.39
latest quarter
Net debt
₹306 cr
owes more than its cash
Enterprise value
₹2,219 cr
EBITDA
₹220 cr
annualised
EBIT
₹163 cr
annualised
Operating margin
4.9%
Return on assets
5.1%
Earnings yield
4.62%
P/S
0.58
Sales / share
₹58.3
Tax rate
26.4%
Face value
₹10
Shares
56.7 cr
Working capital
₹120 cr
Current assets
₹804 cr
Current liabilities
₹685 cr
Delivery %
60.0%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹6₹6, midpoint ₹6

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹827 cr
Other Income₹3 cr
Total Income₹829 cr
Cost of Materials₹650 cr
Purchases of Stock-in-Trade₹9 cr
Inventory Change (±)₹3 cr
Employee Benefit Expense₹23 cr
Finance Costs₹11 cr
Depreciation & Amortisation₹14 cr
Other Expenses₹89 cr
Total Expenses₹799 cr
Profit before Tax₹30 cr
Tax Expense₹8 cr
Share of JV / Associates₹1.3 L
Net Profit₹22 cr
Net margin on total income2.7%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹662 cr79.8%
Employee benefit expense₹23 cr2.8%
Finance costs₹11 cr1.3%
Depreciation & amortisation₹14 cr1.7%
Other expenses₹89 cr10.7%
Tax expense₹8 cr0.9%
Profit for the period₹22 cr2.7%
Total income ₹829 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue639 cr816 cr827 cr
Total income639 cr818 cr829 cr
Expenses631 cr770 cr799 cr
Profit before tax7 cr48 cr30 cr
Tax2 cr-37 cr8 cr
Net profit (owners' share)5 cr85 cr22 cr
Net margin (owners' share, on revenue)0.9%10.4%2.7%
EPS (₹)0.101.500.39
YoY (latest quarter): total income +16.5% · net profit +23.2%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹1,728 cr
Shareholder equity
₹1,030 cr
parent shareholders
Total debt
₹311 cr
Cash
₹4 cr
Cash flow · H1 FY26
Operating
₹101 cr
Investing
₹-33 cr
Financing
₹-67 cr
Peer comparison
Iron & Steel Products · by market value
CompanyPriceMarket capP/E
Welspun Corp Limited₹2,460₹64,903 cr15.5
APL Apollo Tubes Limited₹2,149₹59,664 cr56.7
Shyam Metalics and Energy Limited₹1,077₹29,982 cr21.4
Ratnamani Metals & Tubes Limited₹2,703₹18,943 cr57.6
Jindal Saw Limited₹291₹18,622 cr44.7
Usha Martin Limited₹496₹15,122 cr26.6
Godawari Power And Ispat limited₹238₹14,709 cr16.6
Gallantt Ispat Limited₹538₹12,974 cr26.2
Maharashtra Seamless Limited₹720₹9,651 cr9.1
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
trailing 12 months
Dividend / share (TTM)
Last dividend
₹0.25
ex 14 Sep 2012
ActionDetailEx-date
Dividend₹0.25 / share14 Sep 2012
Who owns it · 2026-06-30
63.5% pledged
Promoter
45.1%
FII / Foreign
1.2%
DII / Domestic
15.8%
Retail / others
37.9%
Promoter stake up 3.5% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtIlex Private Limited · Promoter Group2.00 L · ₹63.4 L12 Mar 26
BoughtJagran Vyapaar Pvt Ltd · Promoter Group11.40 L · ₹3.7 cr11 Mar 26
BoughtShree Vinay Finvest P Ltd. · Promoter Group9.03 L · ₹2.9 cr10 Mar 26
Bulk / block deals
short · NSE2,6905 Aug 26
short · NSE2,1031 Jul 26
SoldSTATE BANK OF INDIA · NSE19.30 L @ ₹18.5313 Nov 23
Stake changes
BoughtSaket Agrawal · promoter→ 45.12% · 1.30 cr22 Jun 26
SoldSwagat Trexim Private Limited→ 1.44% · 1.29 cr18 Jun 26
BoughtSaket Agrawal · promoter→ 42.82% · 1.48 cr11 Jun 26
Promoter pledges
PledgedState bank of Inida22.80 L · 1.42% held25 Feb 16
PledgedState bank of India15.25 L · 1.70% held25 Feb 16
PledgedState Bank Of India12.15 L · 0.00% held30 Nov 15
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Special shareholder meeting · 12 Dec 2025
See the official result
1
Issue of convertible warrants on preferential allotment basis
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 75%
15.42 cr votes for, 1,269 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 20 named members
owning 45.1% between them · as of 2026-06-30
JAGRAN VYAPAAR PVT. LTD.7.98%
JAIK LEASING & COMMERCIAL INVESTMENT LIMITED6.25%
SIKHAR COMMOTRADE PVT.LTD.5.49%
MSP SPONGE IRON LIMITED4.36%
SHREE VINAY FINVEST PVT. LTD.4.03%
PROCHETA CONSULTANTS PRIVATE LIMITED3.76%
ILEX PRIVATE LIMITED3.23%
M. A. HIRE PURCHASE PRIVATE LIMITED3.20%
Business done with them
FY2025 · 13 of the group
The company paid ₹0.23 L to companies in the promoter group last year — about 7.9% of its ₹2.9 L revenue and received ₹0.16 L back from them.
MSP SPONGE IRON LIMITED
Bought goods from them · Sales, Purchase of Material & Components, Service Charges (Guarantee), Expenses paid by party on behalf of us, Expenses paid by us on behalf of party, Logistics and Handling Charges, Trade Payable (Closing Balance), Investments (At Cost)
also owns 4.36% of the company
₹0.17 L
company paid
M.A.HIRE PURCHASE PRIVATE LIMITED
Bought property or assets from them · Expenses paid by party on behalf of us, Rent Expenses, Allotment of Equity Shares against Unsecured Loan, Trade Payable (Closing Balance), Loans Taken (Closing Balance), Investments (At Cost)
also owns 3.20% of the company
₹0.04 L
company paid
MSP SPONGE IRON LIMITED
Sold goods to them · Sales, Purchase of Material & Components, Service Charges (Guarantee), Expenses paid by party on behalf of us, Expenses paid by us on behalf of party, Logistics and Handling Charges, Trade Payable (Closing Balance), Investments (At Cost)
also owns 4.36% of the company
₹0.04 L
company received
GINNY TRADERS PVT LTD
Contribution received from them · Equipment Hire Charges, Allotment of Equity Shares against Unsecured Loan, Trade Payable (Closing Balance), Loans Taken (Closing Balance)
also owns 2.51% of the company
₹0.03 L
company received
PROCHETA CONSULTANTS PVT. LTD
Contribution received from them · Interest Expenses, Repayment of Loans & Advances, Allotment of Equity Shares against Unsecured Loan, Loans Taken (Closing Balance)
also owns 3.76% of the company
₹0.03 L
company received
SAMPAT MARKETING COMPANY PVT LTD
Contribution received from them · Interest Expenses, Allotment of Equity Shares against Unsecured Loan, Loans Taken (Closing Balance)
also owns 2.86% of the company
₹0.02 L
company received
DEXO TRADING PVT LTD
Contribution received from them · Allotment of Equity Shares against Unsecured Loan, Loans Taken (Closing Balance)
also owns 1.09% of the company
₹0.02 L
company received
ILEX PVT LTD
Contribution received from them · Interest Expenses, Allotment of Equity Shares against Unsecured Loan, Loans Taken (Closing Balance)
also owns 3.23% of the company
₹0.01 L
company received
JAIK LEASING AND COMMERCIAL INVESTMENT LIMITED
Contribution received from them · Rent Expenses, Vehicle Hire Charges, Allotment of Equity Shares against Unsecured Loan, Trade Payable (Closing Balance), Loans Taken (Closing Balance), Investments (At Cost)
also owns 6.25% of the company
₹0.01 L
company received
M.A.HIRE PURCHASE PRIVATE LIMITED
Contribution received from them · Expenses paid by party on behalf of us, Rent Expenses, Allotment of Equity Shares against Unsecured Loan, Trade Payable (Closing Balance), Loans Taken (Closing Balance), Investments (At Cost)
also owns 3.20% of the company
₹0.01 L
company received
MSP SPONGE IRON LIMITED
Paid them for services · Sales, Purchase of Material & Components, Service Charges (Guarantee), Expenses paid by party on behalf of us, Expenses paid by us on behalf of party, Logistics and Handling Charges, Trade Payable (Closing Balance), Investments (At Cost)
also owns 4.36% of the company
₹0 L
company paid
SHREE VINAY FINVEST PVT LTD
Paid them for services · Sales, Store Chargeable Issue, Purchase of Material & Components, Equipment Hire Charges, Trade Payable (Closing Balance)
also owns 4.03% of the company
₹0 L
company paid
MSP SPONGE IRON LIMITED
Settlement Of Liabilities By Entity On Behalf Of Related Party · Sales, Purchase of Material & Components, Service Charges (Guarantee), Expenses paid by party on behalf of us, Expenses paid by us on behalf of party, Logistics and Handling Charges, Trade Payable (Closing Balance), Investments (At Cost)
also owns 4.36% of the company
₹0 L
company paid
JAGRAN VYAPAAR PVT LTD
Bought goods from them · Purchase of Material & Components, Trade Payable (Closing Balance)
also owns 7.98% of the company
₹0 L
company paid
SHREE VINAY FINVEST PVT LTD
Bought property or assets from them · Sales, Store Chargeable Issue, Purchase of Material & Components, Equipment Hire Charges, Trade Payable (Closing Balance)
also owns 4.03% of the company
₹0 L
company paid
Suresh Kumar Agrawal
Other payments to them · Directors Remuneration **
also owns 0.02% of the company
₹0 L
company paid
Saket Agrawal
Other payments to them · Directors Remuneration **
also owns 0.04% of the company
₹0 L
company paid
MSP SPONGE IRON LIMITED
Settlement Of Liabilities On Behalf Of Entity By Related Party · Sales, Purchase of Material & Components, Service Charges (Guarantee), Expenses paid by party on behalf of us, Expenses paid by us on behalf of party, Logistics and Handling Charges, Trade Payable (Closing Balance), Investments (At Cost)
also owns 4.36% of the company
₹0 L
company received
JAIK LEASING AND COMMERCIAL INVESTMENT LIMITED
Paid them for services · Rent Expenses, Vehicle Hire Charges, Allotment of Equity Shares against Unsecured Loan, Trade Payable (Closing Balance), Loans Taken (Closing Balance), Investments (At Cost)
also owns 6.25% of the company
₹0 L
company paid
Manish Agrawal
Other payments to them · Directors Remuneration **
also owns 0.05% of the company
₹0 L
company paid
Manish Agrawal
Paid them for services · Directors Remuneration **
also owns 0.05% of the company
₹0 L
company paid
MSP SPONGE IRON LIMITED
Bought property or assets from them · Sales, Purchase of Material & Components, Service Charges (Guarantee), Expenses paid by party on behalf of us, Expenses paid by us on behalf of party, Logistics and Handling Charges, Trade Payable (Closing Balance), Investments (At Cost)
also owns 4.36% of the company
₹0 L
company paid
Saket Agrawal
Paid them for services · Directors Remuneration **
also owns 0.04% of the company
₹0 L
company paid
M.A.HIRE PURCHASE PRIVATE LIMITED
Paid them for services · Expenses paid by party on behalf of us, Rent Expenses, Allotment of Equity Shares against Unsecured Loan, Trade Payable (Closing Balance), Loans Taken (Closing Balance), Investments (At Cost)
also owns 3.20% of the company
₹0 L
company paid
Suresh Kumar Agrawal
Paid them for services · Directors Remuneration **
also owns 0.02% of the company
₹0 L
company paid
GINNY TRADERS PVT LTD
Paid them for services · Equipment Hire Charges, Allotment of Equity Shares against Unsecured Loan, Trade Payable (Closing Balance), Loans Taken (Closing Balance)
also owns 2.51% of the company
₹0 L
company paid
SHREE VINAY FINVEST PVT LTD
Bought goods from them · Sales, Store Chargeable Issue, Purchase of Material & Components, Equipment Hire Charges, Trade Payable (Closing Balance)
also owns 4.03% of the company
₹0 L
company paid
M.A.HIRE PURCHASE PRIVATE LIMITED
Settlement Of Liabilities On Behalf Of Entity By Related Party · Expenses paid by party on behalf of us, Rent Expenses, Allotment of Equity Shares against Unsecured Loan, Trade Payable (Closing Balance), Loans Taken (Closing Balance), Investments (At Cost)
also owns 3.20% of the company
₹0 L
company received
SHREE VINAY FINVEST PVT LTD
Other payments to them · Sales, Store Chargeable Issue, Purchase of Material & Components, Equipment Hire Charges, Trade Payable (Closing Balance)
also owns 4.03% of the company
₹0 L
company paid
PROCHETA CONSULTANTS PVT. LTD
Other payments to them · Interest Expenses, Repayment of Loans & Advances, Allotment of Equity Shares against Unsecured Loan, Loans Taken (Closing Balance)
also owns 3.76% of the company
₹0 L
company paid
SAMPAT MARKETING COMPANY PVT LTD
Other payments to them · Interest Expenses, Allotment of Equity Shares against Unsecured Loan, Loans Taken (Closing Balance)
also owns 2.86% of the company
₹0 L
company paid
ILEX PVT LTD
Other payments to them · Interest Expenses, Allotment of Equity Shares against Unsecured Loan, Loans Taken (Closing Balance)
also owns 3.23% of the company
₹0 L
company paid
SHREE VINAY FINVEST PVT LTD
Sold goods to them · Sales, Store Chargeable Issue, Purchase of Material & Components, Equipment Hire Charges, Trade Payable (Closing Balance)
also owns 4.03% of the company
₹0 L
company received
JAIK LEASING AND COMMERCIAL INVESTMENT LIMITED
Bought property or assets from them · Rent Expenses, Vehicle Hire Charges, Allotment of Equity Shares against Unsecured Loan, Trade Payable (Closing Balance), Loans Taken (Closing Balance), Investments (At Cost)
also owns 6.25% of the company
₹0 L
company paid

The company also transacted with 21 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹25 cr raised in Mar 2026 by selling shares to selected investors

As of Mar 2026, the company says it has spent 23% of what it set aside.

Unsecured Debt Repayment - Repayment or pre-payment in full or part, of certain identified unsecured loans availed by the Company
2%
of what was set aside
Payment in accordance with Restructuring Scheme of the Company – with payment of Right to Recompense (ROR) the company will be eligible to exit from the restructuring framework
100%
of what was set aside
General Corporate Purpose- Modernisation and maintenance of plant and machinery, including purchase, refurbishment, replacement, upgradation repairs and maintenance of plant & machinery to ensure smooth and uninterrupted manufacturing operations
63%
of what was set aside

The rupee amounts in this company’s own breakdown don’t add up to the amount it says it raised — a common filing slip, where a table meant to be read in lakhs is entered as whole rupees. Rather than guess which is right, we show only the percentages, which are unaffected.

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.