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MSP Steel & Power Ltd.

BSE: 532650 Sector: Metals & Mining
NSE: MSPL ISIN Code: INE752G01015
BSE 00:00 | 20 Jul 12.32 0.47
(3.97%)
OPEN

11.32

HIGH

12.35

LOW

11.32

NSE 00:00 | 20 Jul 12.30 0.40
(3.36%)
OPEN

11.90

HIGH

12.40

LOW

11.35

OPEN 11.32
PREVIOUS CLOSE 11.85
VOLUME 3536
52-Week high 29.10
52-Week low 11.32
P/E
Mkt Cap.(Rs cr) 475
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 11.32
CLOSE 11.85
VOLUME 3536
52-Week high 29.10
52-Week low 11.32
P/E
Mkt Cap.(Rs cr) 475
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

MSP Steel & Power Ltd. (MSPL) - Chairman Speech

Company chairman speech

MSP STEEL & POWER LIMITED HAS "CORE VALUES WHICH HAVE IMPARTED IMMENSE ZEALAMONGST THE EMPLOYEES TO CONTINUE THEIR PROLONG EFFORTS AND DEDICATION FLOW ARDS OURCOMPANY.

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As per the Global Market it is a fact that price regulation of iron & steel wasabolished on 16.01.1992 since then steel prices are determined by the interplay of marketforces. Government is helping the steel market to revive its importance and strength.

Currently GST of 18% is applicable on steel and there is no export duty on steel items.In February 2016 the Indian Government had imposed the Minimum Import Price (MIP)condition on 173 steel products. The MIP was extended thrice and ceased to be effective inFebruary 2017. Currently a mix of anti-dumping /safeguard and other measures are in placeon a range of steel items to control the in flow of cheap steel. Further a Steel PriceMonitoring Committee has been constituted by the Government with the aim to monitor pricerationalization analyze price fluctuations and advise all concerned regarding anyirrational price behaviour of steel commodity. The Indian steel Industry is very modernwith state-of-the-art steel mills. It has always strive for continuous modernization andup-gradation of older plants and higher energy levels. Our country has recorded a rise of7.4% from 2015 in crude steel production during 2016 taking the amount to 95.6 MT. Thecrude steel capacity utilization ratio of the 66 countries in December 2016 was 68.1%.This is 2.8% points higher than December 2015. The average capacity utilization in 2016was 69.3% compared to 69.7% in 2015. For the year 2016 World crude steel productionreached 1628.5MT up by 0.8% compared to 2015. Growth in the country's steel productionwas sustained during the April-October period of the current fiscal even as consumptionfailed to keep pace thanks to rising exports and declining imports. Demonetization ofhigh-value currency during this month temporarily had a de ationary impact on cash-basedsteel sales especially long products used in real estate construction and infrastructureprojects. Of the 801 MT of annual steel produced in India about 50% is handled byunorganized secondary steel producers who trade largely in cash.

As for CSR the Company has diligently focused our social responsibility bothin-process and after-process. The Company highly values its engagement with stakeholderswhich allow s us to understand their arising concerns. These concerns are inputs for us toframe our CSR activities in order to more accurately target at stakeholders' rising needsamidst the changing world in all economic social and environmental dimensions. We alsoensure that this framework of CSR conducts is extended to all parts of the group in thesame manner under close supervision from the Board of Directors.

The Core Values to work consists of integrity innovation in various elds Teamwork andexcellence to strive to achieve highest standards in the quality of our products &services .

The Board of Directors is committed to sustainable development and is determined toconduct business under the principle of good governance and social responsibility. Theyalso view corruption as a risk to business and the country as a whole.

Mr. Suresh Kumar Agrawal
Chairman