MSP Steel & Power Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
MSPL · price
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MSP Steel & Power reported a strong turnaround with FY26 net profit of Rs 3,385.09 lakhs versus loss of Rs 2,870.98 lakhs in FY25. Revenue declined marginally to Rs 2,84,296 lakhs from Rs 2,90,525 lakhs. The company completed its debt restructuring by paying Rs 10,163.30 lakhs as Right to Recompense (exceptional item) and recognized a significant Deferred Tax Asset of Rs 4,737.37 lakhs following OCD conversion. No default on loans was reported. The board approved a Rs 500 crore expansion at Raigarh facility to add 2,04,000 MT sponge iron, 2,17,800 MT billet, 2,00,000 MT rolling mill, and 22 MW power capacity. Funds from the preferential warrant issue (Rs 24.50 crore received, Rs 98 crore total) were utilized as per objects with no deviation.
The company returned to profitability after a loss-making FY25, driven by lower finance costs following restructuring completion. The large deferred tax asset recognition and expansion plans signal management confidence, though revenue decline warrants monitoring. Shareholders may see positive sentiment from operational turnaround and deleveraging progress.