MarketFriction

MSP Steel & Power Ltd

NSE MSPL · BSE 532650 · Iron & Steel Products
₹32.52 -1.45%
NSE close2026-10-01
52 week range26.25 - 46.12
Market cap₹1,901 Cr.
P/E13.6
Price band 10% Delivery 61.8%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales674781748772656717760711677639816827
Expenses645742724729630698715666654606739774
Operating Profit293925432719454523337753
OPM %4.3%5%3.3%6%4.1%2.7%6%6%3.4%5%9%6%
Other Income10101810021-100-113
Interest202525212216231010111711
Depreciation141413141314131414141414
Profit before tax410410-8-101022-10074830
Tax %144%52%-227%34%13%-185%423%17%-26%25%-77%26%
Net Profit-25137-108-3418-7558522
EPS in Rs-0.040.120.340.18-0.200.15-0.600.31-1.320.101.500.39
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales9028491,1601,6701,5331,7232,3402,5502,8742,9052,8432,959
Expenses9137751,0431,5391,4511,5812,1842,4872,7482,7712,6652,773
Operating Profit-11741171308214215564125134178185
OPM %-1.2%9%10%8%5%8%7%2.5%4.4%4.6%6%6%
Other Income217111315384-98-96
Interest118123129798679748288814848
Depreciation635657555455545455545556
Profit before tax-191-104-62-2-56830-57213-24-15
Tax %-5%-10%-10%956%20%42%14%-12%31%1,208%-243%
Net Profit-182-94-56-21-68526-5114-283438
EPS in Rs-20.71-10.64-1.44-0.53-1.760.130.67-1.310.37-0.500.600.67
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth12%11%4%4%
Compounded Profit Growth11%94%67%905%
Stock Price CAGR13%29%25%-7%
Return on Equity-2%3%5%14%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital868888385385385385385385385567567
Reserves508427335266249207175202153166381432
Borrowings1,2161,1421,202913884861797857832813294352
Other Liabilities218113171221182283153307277274293376
Total Liabilities2,0281,7701,7961,7861,6991,7371,5111,7511,6481,6381,5351,728
Fixed Assets1,1441,1271,0701,013959906855827826816790793
CWIP111111211111619
Investments755255505347404046454749
Other Assets698590670722686783615884776776691867
Total Assets2,0281,7701,7961,7861,6991,7371,5111,7511,6481,6381,5351,728
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity88-2273147947717811086170189148
Cash from Investing Activity-127841-1914-0-1-62-19-50-34-58
Cash from Financing Activity56-78-61-122-108-79-177-11-104-106-178-90
Net Cash Flow17-171360-2-037-3715-220
Free Cash Flow-3540731489278174853212515789
CFO/OP1,886%200%100%126%73%97%125%73%138%138%144%78%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days3444583324181211119911
Inventory Days1281301751491081621048984787496
Days Payable463370784656345236343653
Cash Conversion Cycle11614216310487124824859534754
Working Capital Days495338323134382318141512
ROCE %-2%-4%1%4%5%2%6%7%2%8%6%10%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters41.61%41.61%41.61%42.34%42.34%36.85%35.24%35.24%35.24%37.74%40.22%45.12%
FIIs0.00%0.00%0.16%0.33%1.10%0.52%0.40%0.18%0.19%0.37%0.12%1.18%
DIIs8.96%3.14%3.14%3.17%1.91%12.90%16.70%16.70%16.70%16.70%16.81%15.78%
Public49.43%55.24%55.08%54.16%54.65%49.71%47.65%47.87%47.87%45.18%42.86%37.92%
No. of Shareholders54,76448,60049,66051,68758,97059,46059,21158,80459,60957,64656,98355,388

Fundamentals

Market Cap₹ 1,901 Cr.
Current Price₹ 33.6
Stock P/E13.6
Book Value₹ 17.6
ROCE9.69 %
ROE13.9 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)4%
Compounded Profit Growth (TTM)905%
Consolidated figures.
Valuation
Market capRs 1,843 Cr
Enterprise valueRs 2,167 Cr
P/E (TTM)48.62x
Price to book1.84x
Price to sales0.62x
EV / EBITDA24.39x
EV / EBIT65.66x
EV / sales0.73x
Price to cash flow12.44x
Earnings yield2.06%
P/E, 3-year average63.26x
P/B, 3-year average1.76x
P/E, 5-year average47.52x
P/B, 5-year average1.31x
Profitability
Operating margin (excl. other income)6.25%
Operating margin (incl. other income)2.78%
EBITDA margin3.00%
Pre-tax margin-0.52%
Net profit margin1.28%
Net margin, latest quarter2.66%
ROE3.47%
ROCE1.85%
ROA2.07%
ROE, 3-year average0.77%
ROCE, 3-year average5.40%
ROA, 3-year average0.39%
ROE, 5-year average-0.44%
ROCE, 5-year average5.08%
ROA, 5-year average-0.05%
ROIC (approx.)-3.56%
Tax rate242.79%
Other income / net worth-9.86%
Growth
Sales growth (latest year)-2.14%
Sales CAGR, 3 years3.69%
Sales CAGR, 5 years10.53%
Profit CAGR, 5 years47.18%
Sales growth QoQ1.25%
Profit growth QoQ-74.20%
Sales growth YoY (latest quarter)16.27%
Profit growth YoY (latest quarter)23.21%
Per share
EPS (TTM)Rs 0.67
EPS (latest year)Rs 0.60
EPS (latest quarter)Rs 0.39
EPS, 3-year averageRs 0.16
EPS, 5-year averageRs -0.04
Book value per shareRs 17.63
Sales per shareRs 52.20
Cash flow per shareRs 2.61
Free cash flow per shareRs 1.57
Efficiency
Asset turnover1.65x
Fixed asset turnover3.59x
Inventory turnover4.26x
Inventory days86 days
Debtor days11 days
Debtors turnover32.97x
Creditor days53 days
Cash conversion cycle54 days
Working capital days12 days
Leverage
Total debtRs 352 Cr
Cash and bankRs 29 Cr
Net debtRs 323 Cr
Debt to equity0.35x
Net debt / EBITDA3.64x
Interest coverage0.68x
Current ratio (filing 2026-03-31)1.17x
Quick ratio (filing 2026-03-31)0.32x
Trade payables (filing 2026-03-31)Rs 324 Cr
Owners' fund to total sources57.83%
Debt to assets20.39%
Cash flow
Cash from Operating Activity (latest year)Rs 148 Cr
Cash from Investing Activity (latest year)Rs -58 Cr
Cash from Financing Activity (latest year)Rs -90 Cr
Net Cash Flow (latest year)Rs 0 Cr
Free cash flow (latest year)Rs 89 Cr
FCFE (approx.: FCF + change in debt)Rs 148 Cr
Sales to cash flow19.18x
Statement figures
Net sales (TTM)Rs 2,959 Cr
Net sales (latest year)Rs 2,843 Cr
Sales (latest quarter)Rs 827 Cr
Operating profit excl. other income (latest year)Rs 178 Cr
Operating profit (latest quarter)Rs 53 Cr
Other income (TTM)Rs -96 Cr
EBITDA (TTM)Rs 89 Cr
PBDT (TTM)Rs 40 Cr
Profit before tax (TTM)Rs -15 Cr
Tax (latest year)Rs -57 Cr
Net profit (TTM)Rs 38 Cr
Net profit (latest year)Rs 34 Cr
Net profit (latest quarter)Rs 22 Cr
Depreciation (TTM)Rs 56 Cr
Depreciation (latest quarter)Rs 14 Cr
Interest (TTM)Rs 48 Cr
Cost of goods sold (latest year)Rs 2,493 Cr
Total expenditure (latest year)Rs 2,665 Cr
Total income (latest year)Rs 2,744 Cr
Share capitalRs 567 Cr
ReservesRs 432 Cr
Shareholders' fundsRs 999 Cr
Total assetsRs 1,728 Cr
Net blockRs 793 Cr
Capital work in progressRs 19 Cr
InvestmentsRs 49 Cr
ReceivablesRs 86 Cr
InventoryRs 586 Cr
Other liabilitiesRs 376 Cr
Shares outstanding (crore)56.68
Ownership
Promoter holding45.12% (+9.88 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 48.6 is at the 29th percentile of its own 3.4-year range (median 83.7, low 17.4, high 213.8).
P/B 1.84 is at the 59th percentile (median 1.24).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodMSPLNifty 50Difference
1 week-6.9%-2.8% -4.1 pts
1 month-4.8%-6.8% +2.0 pts
3 months-24.0%-7.6% -16.4 pts
6 months+22.9%+0.4% +22.5 pts
1 year-13.0%-9.9% -3.1 pts
2 years-44.4%-13.6% -30.9 pts
3 years+90.2%+14.2% +76.0 pts
5 years+233.5%+27.9% +205.6 pts

Red flags

F-score 6 of 8
seriousLow interest cover Interest cover 0.5x in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹827 Cr +16.3% vs Jun 2025. Net profit ₹22 Cr +22.2%.
Against our estimate for Jun 2026: sales +18.4%, profit +90.1% in line. Our estimate for Sep 2026: sales Rs 757 Cr, profit Rs 13 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2019-03-01 Extra Ordinary General Meeting
2017-09-13 Annual General Meeting
2017-07-05 Extra Ordinary General Meeting
2016-09-15 Annual General Meeting
2015-09-11 Annual General Meeting
2014-09-16Annual General Meeting
2013-09-16Annual General Meeting
2012-09-14Annual General Meeting/Dividend Re 0.25 Per Share
2011-09-08Dividend-Re.0.50 Per Share
2010-09-16Dividend-Re.0.50 Per Share
2009-09-15Annual General Meeting
2008-09-12Annual General Meeting
2007-09-14Agm
2006-08-17Agm
DateTypeWhat it says
2026-09-30Shareholder meetingProceedings of Annual General Meeting held on September 30, 2026
2026-09-07Shareholder meetingNotice of Annual General Meeting to be held on September 30, 2026
2026-09-02Board meeting outcomeOutcome of Board Meeting held on September 02, 2026.
2026-09-02Scheme of ArrangementDraft Scheme of Arrangement has been approved by Board of Directors.
2026-09-02General UpdatesGeneral Updates
2026-07-31Statement of deviation(s) orStatement of deviation(s) or variation(s) under Reg. 32
2026-07-31Board meeting outcomeMSP Steel & Power Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-15Shareholder meetingVoting results.
2026-07-14Shareholder meetingProceedings of Extraordinary General Meeting held on July 14, 2026
2026-07-14Reply to Clarification- FinaThe Exchange had sought clarification from MSP Steel & Power Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (List...
2026-07-09Disclosure under SEBI TakeovMSP Steel & Power Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Sub...
2026-06-25UpdatesOpen Market Purchase of Equity Shares by Promoter Entities.
2026-06-25Clarification - Financial ReThe Exchange has sought clarification from MSP Steel & Power Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (List...
2026-06-22Shareholder meetingNotice of Extraordinary General Meeting to be held on July 14, 2026
2026-06-22UpdatesOpen Market Purchase of Equity Shares by Promoter Entity.
2026-06-20UpdatesOpen Market Purchase of Equity Shares by Promoter Entity.
2026-06-19Board meeting outcomeOutcome of Board Meeting held on Jun 19, 2026.
2026-06-18General UpdatesGeneral Updates
2026-06-18UpdatesSubmission of Disclosure under Regulation 7(2) read with Regulation 6(2) of the SEBI(Prohibition of Insider Trading) Regulations, 2015 (the Insider T...
2026-06-15UpdatesOpen Market Purchase of Equity Shares by Promoter Entity.
2026-06-11UpdatesOpen Market Purchase of Equity Shares by Promoter Entity.
2026-06-09UpdatesOpen Market Purchase of Equity Shares by Promoter Entity.
2026-05-30Statement of deviation(s) orStatement of deviation(s) or variation(s) under Reg. 32
2026-05-30Board meeting outcomeMSP Steel & Power Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-03-19Credit RatingCredit Rating
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-06-25NCLTMSP Steel & Power Ltd Vs Aditya Steel Rolling Mills Pvt Ltd
2021-06-25NCLTMSP Steel & Power Ltd Vs Aditya Steel Rolling Mills Pvt Ltd
2020-03-13NCLTMSP Steel & Power Ltd Vs Aditya Steel Rolling Mills Pvt Ltd
2020-03-13NCLTMSP Steel & Power Ltd Vs Aditya Steel Rolling Mills Pvt Ltd
2018-02-19CESTATMSP STEEL & POWER LTD ---VS.--- RAIPUR
2017-07-26CESTATMSP STEEL & POWER LTD ---VS.--- RAIPUR
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of MSP Steel & Power Ltd?

MSP Steel & Power Ltd (MSPL) has a market capitalisation of Rs 1,901 Cr. at the 2026-10-01 close.

What is the P/E ratio of MSP Steel & Power Ltd?

MSP Steel & Power Ltd trades at a P/E of 13.6 on trailing twelve-month profit, at the 2026-10-01 close.

What were MSP Steel & Power Ltd's latest quarterly results?

In the Jun 2026 quarter, MSP Steel & Power Ltd sales was Rs 827 Cr (+16.3% vs Jun 2025) and net profit was Rs 22 Cr.

What is the 52-week high and low of MSP Steel & Power Ltd?

The 52-week high is Rs 46.12 and the 52-week low is Rs 26.25.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03