Msp Steel & Power

What Msp Steel & Power does

MSP Steel & Power Limited is an India-based, publicly listed (NSE: MSPL) integrated steel manufacturer headquartered in Raigarh, Chhattisgarh, with a corporate office in Kolkata. Founded in 1974, the company operates an integrated steel plant producing a multi-product portfolio that includes Premium TMT Bars, Structural Steel sections, ERW Pipes, and intermediate products (Sponge Iron, MS Billets, and Iron Ore Pellets) under one roof. Manufacturing is supported by a NABL-accredited quality control laboratory and is certified to ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 standards, with all production sites running on 100% green electricity since 2024.

The business sells steel products through a pan-India dealer network with regional sales officers across Uttar Pradesh, Odisha, Chhattisgarh, and Rajasthan, alongside direct sales to industrial and infrastructure customers. End markets are predominantly construction and infrastructure, with secondary exposure to the agricultural sector. Channel engagement is reinforced by dealer loyalty programs (Bandhan) and contractor loyalty programs (Udaan). The company is family-controlled, with the Agrawal family holding the Chairman, Managing Director, and Joint Managing Director positions.

Revenue is generated almost entirely from one-time steel product sales under quote-based pricing for bulk orders. FY26 revenue from operations was Rs 2,842.96 crore (a 2.14% decline YoY), with a sharp swing to Rs 33.77 crore net profit from a Rs 28.35 crore loss in FY25. Q1 FY27 showed renewed momentum, with sales of Rs 826.52 crore (up 16.27% YoY) and net profit of Rs 21.98 crore (up 23.21% YoY). In June 2026, the board approved a Rs 500 crore capex programme targeting 1.5 million tons of capacity by 2030, and the company acquired a 26% stake in Elevate Solar Energy alongside a 25-year solar PPA, following its February 2026 exit from CDR/S4SA restructuring frameworks.

Name

Msp Steel & Power

Legal name

MSP Steel & Power Limited

Website

https://mspsteel.com

Company type

Public

Founded year

1974

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

MSP Steel & Power is an Indian integrated steel manufacturer producing TMT bars, structural steel, ERW pipes, and intermediate steel products, serving construction, infrastructure, and agricultural sectors through a pan-India dealer network.

Ownership category

akta.pro rank

Product category

Steel Manufacturing

NAICS

Iron and Steel Mills and Ferroalloy Manufacturing (331110), Iron and Steel Pipe and Tube Manufacturing from Purchased Steel (33121), Plate Work Manufacturing (332313)

SIC

Steel Works, Blast Furnaces & Rolling & Finishing Mills (3310), Steel Pipe & Tubes (3317)

akta.pro primary industry

Integrated Steelmaking (BF-BOF) (IMAKABAA)

akta.pro secondary industries

Bridge & Infrastructure Steel Components (IMADACAL), Pipe & Tube Manufacturing (Seamless & Welded OCTG/Line Pipe/Structural Tube) (IMAKABAI)

Keywords

• Steel manufacturing
• TMT bars
• Structural steel
• ERW pipes
• Integrated steel plant

Headquarters

HQ city

Raigarh

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Marketing or Sales

Revenue model

1. Steel Products Sales: Revenue generated from manufacturing and selling steel products including TMT bars, structural steel sections, and ERW pipes to industrial, infrastructure, and agricultural sectors across India. The company operates an integrated steel plant producing multi-product portfolio.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

MSP Steel & Power operates an integrated steel manufacturing facility in Raigarh, Chhattisgarh, producing a multi-product portfolio of Premium TMT Bars (high-strength reinforcement bars), structural steel sections, and ERW (Electric Resistance Welded) pipes. The company also manufactures intermediate products - sponge iron, MS billets, and iron ore pellets - as part of vertical integration, supplying industrial, infrastructure, and agricultural sectors across India through a pan-India dealer network.

Product overview

MSP Steel & Power operates an integrated steel manufacturing facility in Raigarh, Chhattisgarh, producing a multi-product portfolio including Premium TMT Bars, Structural Steel sections, and ERW Pipes for industrial, infrastructural, and agricultural sectors. The company also manufactures intermediate products including Sponge Iron, MS Billets, and Pellets as part of its vertical integration. All products are produced under NABL-certified quality control measures.

Differentiator

Problem solved

Functional benefit

Brands

• MSP Premium TMT Bars: Premium TMT bars marketed as truly Sarvagunn Sampann product with perfect balance of strength and flexibility
• MSP Bandhan
• MSP Udaan

Products and services

• Premium TMT Bars High-strength thermo-mechanically treated (TMT) steel reinforcement bars marketed as 'Sarvagunn Sampann' with a perfect balance of strength and flexibility, equi-space rib pattern, and consistent weight-length ratio. Designed for construction applications where reduced steel consumption, lower bar congestion, lower labour cost, and faster construction time deliver cost savings, with superior product finish. Sold to industrial, infrastructure, and agricultural customers across India.

Quantifiable outcome

• Revenue from operations Rs 2,842.96 crore in FY26
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Elevate Solar EnergycoreStrategic or Co-development Partner · 18 June 2026MSP Steel & Power signed a 25-year Power Purchase Agreement with Elevate Solar Energy to procure 10 MWp (DC) solar power at Rs 3.17 per unit. The company also acquired a 26% equity stake in Elevate Solar Energy, which is developing a 70 MWp (DC) solar project in Chhattisgarh's Baloda Bazar district. The agreement supports MSP Steel's green energy operations and builds on its 2024 achievement of securing 100% green electricity for all production sites. Following the announcement, the stock surged 5% to hit an upper circuit at Rs 44.22.
• KFin Technologies LimitedminorOthersRegistrar and Share Transfer Agent for MSP Steel & Power. Located at Karvy Selenium Tower-B, Plot No. 31 & 32, Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad - 500032. Handles dematerialisation of shares and shareholder grievance management.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• APL Apollo Tubes: India's largest structural steel tube manufacturer competing in the same downstream long-product category as MSP's structural steel and ERW pipe offerings for construction and infrastructure customers.
• Godawari Power & Ispat: Mid-cap Indian integrated steelmaker with captive iron ore, sponge iron, billets, TMT bars, structural sections, and pipes — the closest scale-and-mix comparable to MSP's vertically integrated Raigarh operations.
• Surya Roshni: Indian manufacturer of ERW pipes, structural steel tubes, and lighting products; directly competes with MSP's ERW pipes segment in the same construction and agricultural end-markets through similar dealer networks.
• Jindal Steel & Power: Indian integrated steel producer with a comparable portfolio of structural steel, rails, and plates serving infrastructure and construction; closest like-for-like mid-to-large Indian integrated peer with multi-product steelmaking.
• Shyam Steel: Indian long-products specialist (part of Shyam Group) producing TMT bars and structural steel under a strong brand for the construction sector; directly competes with MSP Premium TMT Bars in dealer channels.

Broad incumbents

• Steel Authority of India Limited (SAIL): Public-sector integrated steel major with broad TMT, structural, and pipe/tube portfolios sold through an extensive dealer network; competes directly with MSP across long products, particularly in government and infrastructure channels.
• Tata Steel: Major Indian integrated steel producer with extensive TMT and structural product lines and pan-India distribution; sets the competitive benchmark for long products and branded construction steel that MSP's TMT and structural offerings compete against.
• JSW Steel: Largest Indian private-sector integrated steelmaker producing flat and long products including TMT bars and structural steel; competes with MSP across long-product categories and shares the construction/infrastructure customer base.

Emerging players

• Tata Steel Long Products (formerly Tata Sponge Iron): Subsidiary focused on sponge iron and long products including TMT bars; partial overlap with MSP's vertically integrated iron-making-to-finished-products flow at a smaller, more focused scale.

Regional players

• Vishal Steel & Power: Mid-tier Indian long-products and TMT manufacturer with overlapping product mix and pan-India dealer presence; comparable in scale and category to MSP, with overlapping geographic distribution in eastern and central India.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/watch?v=bscqX5ffrpY
• Facebookfacebook.com/groups/880284262689936
• LinkedInlinkedin.com/company/mspsteelofficial

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Msp Steel & Power