The Board of Directors of MSP Steel & Power Limited held a meeting on 31st July 2026 from 5:00 PM to 7:00 PM where they considered and approved the following items:

Financial Results Approval

  • Approved the Unaudited Standalone and Consolidated Financial Results for the 1st Quarter ended 30th June 2026 pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Approved the Limited Review Report on the Financial Statements for the 1st Quarter ended 30th June 2026

Regulatory Compliance Disclosures

The disclosures were made in compliance with:

  • SEBI Circular No. SEBI/HO/CFD/CFD-PoD2/CIR/P/2024/185 dated December 31, 2024
  • BSE Audit Circular No. 20250102-4 dated January 2, 2025
  • NSE/CML/2025/02 issued by National Stock Exchange of India Audit dated January 2, 2025

Key Disclosures Included:

A. Regulation 30 & 33 Compliance:

  • Unaudited Standalone and Consolidated Financial Results for Q1 ended 30th June 2026
  • Limited Review Report on Financial Statements for Q1 ended 30th June 2026

B. Statement on Deviation/Variation for Proceeds of Public Issue (Annexure-I):

  • Preferential Issue of Convertible Warrants allotted on 14th March 2026
  • Amount Raised: ₹24.50 crores (25% upfront receipt of total consideration)
  • No deviation/variation in use of funds raised
  • Monitoring Agency: Not Applicable
  • Shareholder Approval: Not Applicable
  • Audit Committee Comments: NIL
  • Auditor Comments: NIL

Fund Utilization Details:

  • Total Consideration receivable subject to 100% conversion of warrants = ₹98,00,00,000
  • Upfront subscription money received (25% of Total Consideration) = ₹24,50,00,000
  • Utilized amount up to 30th June 2026 = ₹24,50,00,000
  • Unutilized amount up to 30th June 2026 = ₹0

Category-wise Utilization (Quarter ended June 30, 2026):

1. Unsecured Debt Repayment: ₹75,00,00,000 allocated, ₹1,50,00,000 utilized, ₹73,50,00,000 unutilized

2. Payment under Restructuring Scheme: ₹18,50,00,000 allocated, ₹18,50,00,000 utilized, ₹0 unutilized

3. General Corporate Purpose: ₹4,50,00,000 allocated, ₹2,84,15,845.46 utilized, ₹1,65,84,154.54 unutilized

C. Outstanding Default on Loans and Debt Securities:

  • No default on Loans and Debt Securities for the quarter
  • Loans/revolving facilities: Not Applicable
  • Unlisted debt securities (NCDs and NCRPS): Not Applicable
  • Total financial indebtedness: Not Applicable

D. Related Party Transactions: Not Applicable for this quarter

E. Impact of Audit Qualifications: Not applicable

3. Reviewing Existing Corporate Policies

The information will be made available on the Company's website.

Financial Results Highlights (Standalone):

Quarter Ended 30.06.2026 (₹ in Lakhs):

  • Revenue from Operations: ₹82,651.65
  • Other Income: ₹255.53
  • Total Income: ₹82,907.18
  • Profit before Tax: ₹2,982.33
  • Tax Expense: ₹785.81 (Deferred Tax)
  • Net Profit for the period: ₹2,196.52
  • Total Comprehensive Income: ₹2,217.31
  • Basic EPS: ₹0.39; Diluted EPS: ₹0.37
  • Paid-up Equity Share Capital: ₹56,679.66 lakhs

Financial Results Highlights (Consolidated):

Quarter Ended 30.06.2026 (₹ in Lakhs):

  • Revenue from Operations: ₹82,651.65
  • Other Income: ₹255.53
  • Total Income: ₹82,907.18
  • Profit before Tax: ₹2,983.38
  • Tax Expense: ₹785.85 (Deferred Tax)
  • Net Profit for the period: ₹2,197.53
  • Total Comprehensive Income: ₹2,218.32
  • Basic EPS: ₹0.39; Diluted EPS: ₹0.37
  • Paid-up Equity Share Capital: ₹56,679.66 lakhs

Key Notes to Financial Statements:

  • Financial results reviewed by Audit Committee and approved by Board on July 31, 2026
  • Statutory Auditors (Singhi & Co.) reviewed the financial results
  • Business falls within single segment: "Manufacturing/Trading of Iron & Steel Products"
  • During FY 2024-25, company claimed deduction under Section 43B of Income-tax Act, 1961 for interest liabilities aggregating ₹18,823.26 lakhs
  • Recognition of Deferred Tax Asset of ₹4,737.37 lakhs in previous financial year 2025-26 based on independent tax opinion regarding conversion of Optionally Convertible Debentures (OCDs) into equity shares

Auditor's Review:

Singhi & Co., Chartered Accountants provided unmodified review conclusions on both standalone and consolidated financial results, drawing attention to Note 5 regarding recognition of Deferred Tax Asset.