MSP Steel & Pow.

NSE: MSPL · Iron & Steel Products

52W Range₹26 ₹46

Snapshot

Unlock MSP Steel & Pow.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

MSP Steel & Power Limited is an Indian manufacturer of iron and steel products, including TMT bars, billets, sponge iron, and pellets. The company also produces structural steel components such as beams and channels for infrastructure projects like bridges, highways, and power plants.

Business Model

The company operates an integrated manufacturing model, producing a diverse range of steel products from raw materials like coal and iron ore. Revenue is generated through the sale of these finished steel and structural products to the construction and infrastructure sectors.

  • Incorporation Year:1968

Growth Outlook

Growth is primarily driven by sustained demand from India's infrastructure and construction sectors, which require consistent supplies of structural steel and TMT bars. The company leverages its coal washery and ferro alloy capabilities to maintain its position in the domestic steel market.

Key Risks

  • Raw Material Price Volatility. Fluctuations in the prices of coal and iron ore can significantly impact the company's operating margins.
  • Cyclicality of Steel Industry. The steel sector is highly sensitive to economic cycles and infrastructure spending patterns in India.
  • Regulatory and Environmental Risks. Stringent environmental regulations regarding mining and steel production may increase compliance costs.
  • Competitive Pressure. The company faces intense competition from both large integrated steel players and smaller regional manufacturers.

Price

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Key Metrics

REVENUE

₹2,843 Cr

TTM · consolidated

-2.1%YoY

NET PROFIT

₹34 Cr

TTM · consolidated

+219.1%YoY

EPS

₹0.59

TTM · consolidated

+218.0%YoY

RETURN ON EQUITY

3.4%

TTM · consolidated

+7.6 ppYoY

RETURN ON CAPITAL EMPLOYED

2.4%

TTM · consolidated

-5.6 ppYoY

P/E

63.0x

Q4 FY26 · consolidated

63.0 vs 34.3x5Y avg

EV/EBITDA

13.4x

Q4 FY26 · consolidated

13.4 vs 21.5x5Y avg

EBITDA MARGIN

6.4%

TTM · consolidated

+1.7 ppYoY

NET PROFIT MARGIN

10.4%

Q4 FY26 · consolidated

+14.9 ppYoY

DEBT TO EQUITY

0.3x

Q4 FY26 · consolidated

+0.03xYoY

Peers · Iron & Steel Products

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
MSP Steel & Pow.MSPL
1,64363.0313.36-2.1%6.4%3.4%2.4%+10.7%
Venus PipesVENUSPIPES
2,00036.4819.9621.7%17.3%18.0%28.5%+11.4%
Rhetan TMT LtdRHETAN
1,973162.53165.05-34.2%62.0%37.9%42.9%+81.1%
JTL Industries LimitedJTLIND
1,91729.3119.2511.5%7.8%8.0%11.0%-6.3%
Hi-Tech PipesHITECH
1,57622.9311.3736.9%4.2%6.0%11.0%-10.6%
Mahamaya SteelMAHASTEEL
1,546146.2157.9910.1%2.9%6.3%10.2%+133.1%

As of Q4 FY26

Financials