Integrated Filing — IndAS

General information about company

Scrip Code	532650
NSE Symbol	MSPL
MSEI Symbol	NOTLISTED
ISIN	INE752G01015
Name of company	MSP STEEL & POWER LIMITED
Type of company	Main Board
Class of security	Equity
Date of start of financial year	01-04-2025
Date of end of financial year	31-03-2026
Date of board meeting when results were approved	14-02-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	11-02-2026
Description of presentation currency	INR
Level of rounding used in financial results	Lakhs
Reporting Type	Quarterly
Reporting Quarter	Third quarter
Nature of report standalone or consolidated	Consolidated
Whether results are audited or unaudited for the quarter ended	Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended	Unaudited
Segment Reporting	Single segment
Description of single segment	Manufacturing
Start date and time of board meeting	14-02-2026 16:00:00
End date and time of board meeting	14-02-2026 16:30:00
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification	Declaration of unmodified opinion

Financial Results Ind-AS

Amount in (Lakhs)

Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-10-2025	01-04-2025
B	Date of end of reporting period	31-12-2025	31-12-2025
C	Whether results are audited or unaudited	Unaudited	Unaudited
D	Nature of report standalone or consolidated	Consolidated	Consolidated
1	Income
	Revenue from operations	63,891.97	2,02,664.58
	Other income	13.56	183.70
	Total income	63,905.53	2,02,848.28
2	Expenses
(a)	Cost of materials consumed	49,198.38	1,61,664.01
(b)	Purchases of stock-in-trade	0.00	356.40
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	417.72	(1,419.95)
(d)	Employee benefit expense	2,178.79	6,532.45
(e)	Finance costs	1,081.90	3,087.16
(f)	Depreciation, depletion and amortisation expense	1,381.81	4,121.70
(f)	Other Expenses
1	Other Expenses	8,844.80	25,513.17
	Total other expenses	8,844.80	25,513.17
	Total expenses	63,103.40	1,99,854.94
3	Total profit before exceptional items and tax	802.13	2,993.34
4	Exceptional items	(75.00)	(10,163.30)
5	Total profit before tax	727.13	(7,169.96)
6	Tax expense
7	Current tax	0.00	0.00
8	Deferred tax	180.26	(2,023.59)
9	Total tax expenses	180.26	(2,023.59)
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0.00	0.00
11	Net Profit Loss for the period from continuing operations	546.87	(5,146.37)
12	Profit (loss) from discontinued operations before tax	0.00	0.00
13	Tax expense of discontinued operations	0.00	0.00
14	Net profit (loss) from discontinued operation after tax	0.00	0.00
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	2.41	3.82
16	Total profit (loss) for period	549.28	(5,142.55)
17	Other comprehensive income net of taxes	100.23	50.64
18	Total Comprehensive Income for the period	649.51	(5,091.91)
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent	549.48	(5,142.17)
	Total profit or loss, attributable to non-controlling interests	(0.20)	(0.38)
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent	649.72	(5,091.53)
	Total comprehensive income for the period attributable to owners of parent non-controlling interests	(0.20)	(0.38)
21	Details of equity share capital
	Paid-up equity share capital	56,679.66	56,679.66
	Face value of equity share capital	10	10
27	Details of debt securities
22	Reserves excluding revaluation reserve
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	0.1	-0.91
	Diluted earnings (loss) per share from continuing operations	0.1	-0.91
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
ii	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	0.1	-0.91
	Diluted earnings (loss) per share from continuing and discontinued operations	0.1	-0.91
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results		Textual Information(1)

Disclosure of notes on financial results

Textual Information(1)	1. The above Un-audited Consolidated Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on February 14, 2026.The Statutory Auditors have conducted the limited review of the above unaudited consolidated financial results. 2.These financial results of MSP Steel & Power Limited (“the Holding Company”) and its subsidiaries (the Holding Company and its subsidiaries together referred to as “the Group”), and its share of the net profit/(loss) after tax and total comprehensive income of its joint venture ,have been prepared in accordance with Indian Accounting Standards (Ind AS), prescribed under section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rule, 2015 and relevant amendments thereafter. 3.As the Group's business activity falls within a single significant primary business segment i.e. Manufacturing/Trading of Iron & Steel Products, no separate segment information is disclosed. These, in the context of Ind AS 108 on Operating Segments are considered to constitute one segment and hence, the Company has not made any additional segment disclosures. 4.The Holding Company’s borrowings were restructured under the Corporate Debt Restructuring (CDR) mechanism during FY 2014–15 and subsequently under the Scheme for Sustainable Structuring of Stressed Assets (S4A) in FY 2017–18. As per the restructuring terms, the lending banks are entitled to a Right of Recompense (RoR), determined based on the completion of the Holding Company’s repayment obligations. As on date, the Holding Company has received confirmation letters from all the consortium banks regarding the final RoR amount payable. Based on confirmations received, the total RoR liability has been finalised at 10,163.30 lakhs to come out of restructuring, and the same has been disclosed under Exceptional Items for the period ended December 31, 2025. 5.On November 21, 2025, the Government of India notified the four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws. The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The Holding Company has assessed the incremental impact of these changes on the basis of the best information available, consistent with the guidance provided by the Institute of Chartered Accountants of India and disclosed the incremental impact under Employee Benefits Expense. The impact for the same is immaterial. The Holding Company continues to monitor the finalisation of Central / State Rules and clarifications from the Government on other aspects of the Labour Codes and would provide appropriate accounting effects on the basis of such developments as needed. 6.Figures for the previous periods have been regrouped and reclassified to conform to the classification of the current period, wherever considered necessary.

Textual Information(1)

1. The above Un-audited Consolidated Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on February 14, 2026.The Statutory Auditors have conducted the limited review of the above unaudited consolidated financial results. 2.These financial results of MSP Steel & Power Limited (“the Holding Company”) and its subsidiaries (the Holding Company and its subsidiaries together referred to as “the Group”), and its share of the net profit/(loss) after tax and total comprehensive income of its joint venture ,have been prepared in accordance with Indian Accounting Standards (Ind AS), prescribed under section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rule, 2015 and relevant amendments thereafter. 3.As the Group's business activity falls within a single significant primary business segment i.e. Manufacturing/Trading of Iron & Steel Products, no separate segment information is disclosed. These, in the context of Ind AS 108 on Operating Segments are considered to constitute one segment and hence, the Company has not made any additional segment disclosures. 4.The Holding Company’s borrowings were restructured under the Corporate Debt Restructuring (CDR) mechanism during FY 2014–15 and subsequently under the Scheme for Sustainable Structuring of Stressed Assets (S4A) in FY 2017–18. As per the restructuring terms, the lending banks are entitled to a Right of Recompense (RoR), determined based on the completion of the Holding Company’s repayment obligations. As on date, the Holding Company has received confirmation letters from all the consortium banks regarding the final RoR amount payable. Based on confirmations received, the total RoR liability has been finalised at 10,163.30 lakhs to come out of restructuring, and the same has been disclosed under Exceptional Items for the period ended December 31, 2025. 5.On November 21, 2025, the Government of India notified the four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws. The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The Holding Company has assessed the incremental impact of these changes on the basis of the best information available, consistent with the guidance provided by the Institute of Chartered Accountants of India and disclosed the incremental impact under Employee Benefits Expense. The impact for the same is immaterial. The Holding Company continues to monitor the finalisation of Central / State Rules and clarifications from the Government on other aspects of the Labour Codes and would provide appropriate accounting effects on the basis of such developments as needed. 6.Figures for the previous periods have been regrouped and reclassified to conform to the classification of the current period, wherever considered necessary.

Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio

Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars		3 months/ 6 month ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-10-2025	01-04-2025
Date of end of reporting period		31-12-2025	31-12-2025
Whether results are audited or unaudited		Unaudited	Unaudited
Nature of report standalone or consolidated		Consolidated	Consolidated
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
	Total Segment Revenue
	Less: Inter segment revenue
	Revenue from operations
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
	Total Profit before tax
	i. Finance cost
	ii. Other Unallocable Expenditure net off Unallocable income
	Profit before tax
3	(Segment Asset - Segment Liabilities)
	Segment Asset
	Total Segment Asset
	Un-allocable Assets	null	null
	Net Segment Asset	null	null
4	Segment Liabilities
	Segment Liabilities
	Total Segment Liabilities
	Un-allocable Liabilities	null	null
	Net Segment Liabilities	null	null
	Disclosure of notes on segments

Other Comprehensive Income

Amount in (Lakhs)

Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-10-2025	01-04-2025
B	Date of end of reporting period	31-12-2025	31-12-2025
C	Whether results are audited or unaudited	Unaudited	Unaudited
D	Nature of report standalone or consolidated	Consolidated	Consolidated
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
1	Actuarial Gain/(Loss) on Defined Benefit Obligations	133.95	94.33
	Total Amount of items that will not be reclassified to profit and loss	133.95	94.33
2	Income tax relating to items that will not be reclassified to profit or loss	33.72	43.69
3	Amount of items that will be reclassified to profit and loss
	Total Amount of items that will be reclassified to profit and loss
4	Income tax relating to items that will be reclassified to profit or loss
5	Total Other comprehensive income	100.23	50.64

Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited	Unaudited
Declaration of unmodified opinion or statement on impact of audit qualification	Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results	Yes

Sr No.	Audit firm's name	Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI	Certificate valid upto
1	Singhi & Co	Yes	31-08-2028