M P Steel (India) Limited

• Funding capital expenditure requirement for setting up of a manufacturing unit of Billets as part of planned backward integration of the Company₹274 Cr
• Funding the part incremental working capital requirements of our Company₹550 Cr
• General corporate purposes

• We rely substantially on our top 10 suppliers of raw materials, including stainless steel scrap, billets, and ferro alloys, and do not enter into long-term contracts with suppliers, exposing us to price volatility, supply shortages, and disruptions that could materially adversely affect our business, financial condition, results of operations and cash flows.(Supply Chain)

• A substantial portion of our revenue comes from our top 10 customers, who accounted for 29.29% of revenue from operations during Fiscal 2026, and any reduction in their orders could adversely affect our business, results of operations, financial condition, and cash flows.(Customer Concentration)

• We derive 84.28% of our revenue from operations from the domestic market, with 73.24%, 64.97% and 70.59% of total revenue derived from the states of Gujarat and Maharashtra during Fiscal 2026, Fiscal 2025 and Fiscal 2024 respectively, exposing our business to local and regional risks such as economic downturns, policy changes, and natural disasters.(Geographic Concentration)

• Our Manufacturing Facility is located in Gujarat, making our operation highly vulnerable to regional conditions and economic downturns in the region.(Geographic Concentration)

• We are susceptible to foreign exchange rate fluctuations and import duties on raw materials, which could result in a decline in our operating margins.(Financial)

• We primarily rely on purchase orders rather than long-term contracts to govern sales volumes and terms, and customers may reduce orders, cancel purchase orders at short notice, or switch to competitors, which could materially impact our revenue, inventory management, and cash flows.(Customer Concentration)

• We have not faced significant disruptions in the procurement of raw materials in the last three Fiscals, but there can be no assurance that we will be able to procure the required quantities and quality of raw materials commensurate with our requirements in the future.(Supply Chain)

• We derive approximately 82.50% of our revenues from operations from repeat customers, and there can be no assurance that these customers will continue ordering at historical levels or on similar terms.(Customer Concentration)

Each bar is a fixed formula applied to the figures shown above, scored 0–100. This is a reading of what the company disclosed — not a recommendation to apply or avoid, not a price target, and not a prediction of listing performance. Dimensions that could not be extracted are excluded rather than assumed, so coverage varies between documents.