MSP Steel & Power Limited has informed the Exchange about change in Management
MSPL · price
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MSP Steel & Power announced its Q1 FY26 (quarter ended 30 June 2025) unaudited standalone and consolidated financial results, approved by the Board on 30 July 2025. Standalone revenue from operations fell to ₹71,086.14 lakhs from ₹77,199.91 lakhs in Q1 FY25, a decline of about 7.9%. Despite the revenue dip, net profit surged to ₹1,784.17 lakhs from ₹676.99 lakhs, more than doubling year-on-year, driven by lower raw material costs and sharply reduced finance costs. The Board also approved the appointment of S.K. Agrawal & Co as Internal Auditor, re-appointed Mr. Sambhu Banerjee as Cost Auditor, and appointed Bajaj Todi & Associates as Secretarial Auditor for a five-year term (FY26–FY30). The company confirmed no defaults on loans or debt securities for the quarter, and the statutory auditor Singhi & Co issued an unmodified limited review conclusion (noting it replaced the predecessor auditor who reviewed Q1 FY25).
Positive: sharp jump in profitability on better cost control and lower interest costs, though revenue continues to shrink, which may concern investors looking for topline growth.