Q1 FY27 Results: Revenue up 16%, PAT up 23% YoY; Unmodified Review
MSPL · price
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On the reaction day the stock moved 0.3 pts more than Nifty Microcap 250 and 1.2 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 reported Q1 FY27 revenue from operations of Rs 826.52 crore (up about 16% YoY from Rs 710.86 crore) and net profit of Rs 21.97 crore (up about 23% YoY from Rs 17.84 crore). Basic EPS was Rs 0.39. No exceptional items this quarter. Auditor issued unmodified review report but drew attention to a deferred tax asset of Rs 47.37 crore recognized earlier on a Section 43B claim arising from OCD conversion into equity. Company confirmed no defaults on loans or debt securities. Convertible warrant proceeds of Rs 24.50 crore were fully utilised.
Revenue and profit growth signal operational improvement, but auditor's emphasis on deferred tax asset recognition remains a watchpoint for shareholders.