MSP STEEL & POWER LTD.

MSP Steel & Power Ltd has filed its Statement of Deviation & Variation for the quarter ended June 30, 2026. The company reported no deviation or variation in the utilization of funds raised through a Preferential Issue of Convertible Warrants on March 14, 2026. The total amount raised was ₹24.50 crores, representing 25% of the total consideration. The funds were intended for unsecured debt repayment and general corporate purposes, including modernization and maintenance of plant and machinery. The company confirmed no outstanding defaults on loans or debt securities for the said quarter. The Board of Directors also approved the unaudited standalone and consolidated financial results for the first quarter ended June 30, 2026.

On a consolidated basis (primary), MSP Steel & Power posted PAT of ₹21.98 Cr for Q1 FY27, up 23.2% YoY from ₹17.84 Cr, on revenue from operations of ₹826.52 Cr, up 16.3% YoY from ₹710.86 Cr. Standalone tells the same story almost to the rupee (PAT ₹21.97 Cr) since the lone joint venture contributes just ₹0.01 Cr — no basis divergence to flag this quarter. Margins expanded modestly: OPM to roughly 6.36% from 6.32% a year ago, and NPM to roughly 2.66% from 2.51%. No exceptional items sit in any of the three quarterly columns shown, so both YoY and QoQ growth are on a clean, unadjusted basis. The tax line is why PAT growth (23.2%) trails PBT growth (38.6% YoY to ₹29.83 Cr): the effective tax rate normalized to ~26.3% this quarter from an unusually low ~17.2% in Q1 FY26. Note 5 explains the context — a ₹47.37 Cr deferred tax asset tied to a Section 43B interest-liability claim (from the FY24-25 conversion of Optionally Convertible Debentures into equity) was recognized in FY26, and most of that benefit landed as a one-off ₹37.19 Cr tax credit in Q4 FY26 specifically, inflating that quarter's PAT to ₹85.20 Cr. That's also why QoQ PAT looks like it fell 74% this quarter — it's a base-effect optics issue from Q4's one-off credit, not a sequential deterioration: QoQ revenue actually rose 1.2% and OPM held roughly steady. Management gave no formal guidance or outlook commentary in this filing, and none is on record from a prior call, so there is nothing to grade the print against on that front; no management press release was available either. The only Q1 estimate found was an informal, non-consensus trailing-growth projection (Univest) of ₹8-10 Cr PAT — the ₹21.98 Cr actual clears that bar comfortably, though the estimate's quality is too thin to call it a genuine street beat. Corporate-action backdrop this quarter: the promoter group raised its stake by 2.30% through on-market purchases in June (6.45 lakh plus 4.49 million shares), and the company held an EGM on July 14 for a fund-utilisation-variance disclosure tied to its ₹98 Cr convertible-warrant preferential issue — the filing confirms zero deviation, with the ₹24.50 Cr upfront tranche fully deployed as of June 30.

MSP Steel & Power Ltd has announced that its Board of Directors will convene on July 31, 2026. The primary agenda items include the consideration and approval of the Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026, along with the associated Limited Review Report. Additionally, the meeting will address any other business as permitted by the Chairman. The company has also informed that the trading window for its securities will remain closed from July 1, 2026, and will reopen 48 hours after the financial results are declared.

MSP Steel & Power Ltd has announced the closure of its trading window for all directors, promoters, designated persons, and specified connected persons. This closure will be effective from July 1, 2026, and will remain in effect for 48 hours after the publication of the company's unaudited financial results for the first quarter ended June 30, 2026. The decision aligns with SEBI (Prohibition of Insider Trading) Regulations, 2015, and relevant NSE and BSE circulars. The company will separately inform the exchanges about the date of the board meeting scheduled to consider these financial results.

MSP Steel & Power Ltd has submitted disclosures under SEBI (Prohibition of Insider Trading) Regulations, 2015. Three promoter group entities, Ginny Traders Private Limited, Sampat Marketing Company Pvt Ltd, and Ilex Private Limited, have reported open market purchases of equity shares. Ginny Traders acquired 7,30,000 shares on June 19, 2026. Sampat Marketing purchased 12,04,000 shares on June 19 and June 22, 2026. Ilex Private Limited bought 1,66,849 shares on June 22, 2026. These disclosures are in Form 'C' and dated June 23, 2026.

Saket Agrawal, promoter of MSP Steel & Power Ltd, along with Persons Acting in Concert (PACs), has disclosed an increase in their shareholding by 2.30% through open market purchases. The acquisition, which took place between June 12th and June 22nd, 2026, resulted in the promoter group's total shareholding rising from 42.82% to 45.12%. The total equity share capital of the company remains Rs. 566,796,645, consisting of 56,679,6645 equity shares of Rs. 10 each.

MSP Steel & Power Ltd has announced an Extraordinary General Meeting (EGM) scheduled for July 14, 2026, to be conducted via Video Conference. The primary agenda is to consider and approve a variation in the objects relating to the utilization of funds from a preferential issue. Specifically, the company seeks to reallocate ₹73.50 crore from the original plan, which included unsecured debt repayment and general corporate purposes, to facilitate a restructuring scheme. The preferential issue involved the allotment of 2,80,00,000 convertible warrants to M.A. Hire Purchase Private Limited, a promoter group entity. The meeting will allow members to vote electronically on the proposed special resolution.

MSP Steel & Power Ltd has announced that its promoter group entities have made significant open market purchases of equity shares. Shree Vinay Finvest Pvt. Ltd. acquired 7,30,000 shares. Ginny Traders Private Limited purchased 5,30,000 shares on June 16, 2026, and an additional 12,50,000 shares on June 17-18, 2026. Sampat Marketing Company Pvt Ltd bought 8,90,000 shares on June 16, 2026, and 11,00,000 shares on June 17, 2026. Ilex Private Limited acquired 10,00,000 shares on June 17-18, 2026, and M.A Hire Purchase Pvt Ltd purchased 9,50,000 shares on June 18, 2026. These disclosures are made in compliance with Regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015.

MSP Steel & Power Ltd announced that Ilex Private Limited, a promoter group entity, has purchased 6,45,000 equity shares through open market transactions on June 15, 2026. This disclosure is made in compliance with Regulation 7(2) read with Regulation 6(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. The details of the acquisition have been submitted in Form 'C'. This transaction signifies increased confidence and investment from the promoter group in the company's equity.

Swagat Trexim Private Limited has disclosed the sale of 12,890,000 equity shares, representing 2.27% of the paid-up equity share capital, in MSP Steel & Power Limited. The shares were sold in the open market on June 11-12, 2026. Following this transaction, Swagat Trexim's holding in MSP Steel & Power has reduced from 2.27% to 0% of the total diluted share capital. The total diluted share capital of MSP Steel & Power is approximately ₹566,796,645, divided into 56,67,96,645 equity shares of Rs 10 each.