MSP Steel & Power Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
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On the reaction day the stock moved 10.9 pts more than Nifty Microcap 250 and 10.9 pts more than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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MSP Steel & Power reported its Q1 FY26 results on July 30, 2025. Revenue from operations fell to ₹71,086.14 lakhs from ₹77,199.91 lakhs in Q1 FY25, a YoY decline of about 7.9%. However, net profit surged to ₹1,784.17 lakhs from ₹676.99 lakhs, a jump of roughly 164%, driven by lower raw material costs (₹57,791 lakhs vs ₹62,463 lakhs) and sharply reduced finance costs (₹1,022.50 lakhs vs ₹2,057.79 lakhs). Profit before tax more than doubled to ₹2,153.21 lakhs, and EPS improved to ₹0.31 from ₹0.18. The company confirmed there are no defaults on loans or debt securities. The Board also appointed S K Agrawal & Co as Internal Auditor, re-appointed Sambhu Banerjee as Cost Auditor, and re-appointed Bajaj Todi & Associates as Secretarial Auditor for five years (FY26–FY30). The statutory auditor, Singhi & Co, issued an unmodified limited review conclusion.
The sharp jump in net profit despite lower top-line signals a turnaround in profitability, with better cost control and lower interest burden. This is a positive for shareholders, though the revenue decline raises questions about demand or pricing in the steel business. Watch for sustainability of margin improvement in coming quarters.