MSP Steel & Power Limited has announced significant equity share acquisitions by two promoter group entities through open market purchases in February 2026. The company disclosed these transactions in compliance with SEBI Insider Trading Regulations, highlighting substantial investments by key stakeholders.

Share Acquisition Details

The promoter group entities completed strategic purchases totaling 18,32,400 equity shares with a combined value of ₹5.97 crore. These transactions were executed across multiple trading sessions in February 2026, demonstrating systematic accumulation by the promoter group.

Shareholding Changes

Both entities witnessed meaningful increases in their equity stakes following these acquisitions. The transactions reflect the promoter group's continued commitment to increasing their ownership in the company.

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Regulatory Compliance

The company submitted the required disclosures under Regulation 7(2) read with Regulation 6(2) of SEBI Insider Trading Regulations, 2015. Company Secretary and Compliance Officer Shreya Kar filed the necessary Form C documents with both NSE and BSE on February 23, 2026. The disclosures were made within the prescribed timeframes, with intimation to the company received on February 17, 19, and 20, 2026, respectively.

Market Execution

All transactions were conducted through open market purchases on recognized stock exchanges. The acquisitions demonstrate active participation by promoter group entities in the secondary market, with purchases executed at prevailing market prices during the specified trading sessions.

MSP Steel & Power Limited announced its unaudited financial results for the third quarter ended December 31, 2025, showing mixed performance with declining revenue and reduced profitability compared to the previous year. The Board of Directors approved these results in their meeting held on February 14, 2026.

Financial Performance Overview

The company's consolidated financial results revealed a challenging quarter with revenue pressures and margin compression. Total income for Q3FY26 stood at ₹63,905.53 lakhs compared to ₹71,196.13 lakhs in Q3FY25, representing a decline in business activity.

Nine-Month Performance Analysis

The nine-month period ended December 31, 2025, presented significant challenges for the company. MSP Steel & Power recorded a consolidated net loss of ₹5,142.55 lakhs compared to a net profit of ₹546.93 lakhs in the corresponding period of the previous year.

Exceptional Items and Debt Restructuring

A significant factor impacting the company's financial performance was the recognition of exceptional items totaling ₹10,163.30 lakhs during the nine-month period. This amount represents the Right of Recompense (RoR) liability under the company's debt restructuring arrangements.

The company's borrowings were previously 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. The lending banks are entitled to RoR based on the completion of repayment obligations, and the company has received confirmation letters from all consortium banks regarding the final RoR amount payable.

Operational Metrics and Cost Structure

The company's cost structure showed some positive developments despite revenue challenges. Cost of materials consumed decreased to ₹49,198.38 lakhs in Q3FY26 from ₹62,726.86 lakhs in Q3FY25. Employee benefits expense increased to ₹2,178.79 lakhs from ₹1,915.70 lakhs, while finance costs decreased significantly to ₹1,081.90 lakhs from ₹1,588.64 lakhs.

Business Segment and Corporate Structure

MSP Steel & Power operates primarily in manufacturing and trading of iron and steel products, which constitutes a single significant business segment. The consolidated results include the performance of subsidiaries MSP Cement Limited, Prateek Mines & Minerals Private Limited, and joint venture Madanpur South Coal Company Limited.

Regulatory Compliance and Labour Code Impact

The company has assessed the impact of the four Labour Codes notified by the Government of India on November 21, 2025. These codes consolidate 29 existing labour laws, and the company has determined that the incremental impact on employee benefits expense is immaterial. The company continues to monitor developments regarding the finalization of Central and State Rules.