MSTCLTD - MSTC Limited Share Price

Commercial Services & Supplies

₹525.40+6.75(+1.30%)

Market Closed as of Apr 28, 2025, 15:30 IST

What does MSTC Limited do?

Trading & Distributors•Services•Small Cap

MSTC Limited engages in marketing, e-commerce, and scrap recovery and allied job businesses primarily in India. The company operates in two segments, Marketing and E-Commerce. It is involved in e-procurement, e-auction, and e-sale business. The company also develops ERP solutions comprising of inventory management, personnel and administration, finance and accounts, dashboards, and other packages. In addition, it markets industrial raw materials and project related equipment, as well as engages in disposal of ferrous and non-ferrous scrap, surplus stores, machinery, spares, vehicles, minerals, agriculture, and forest produces. The company was incorporated in 1964 and is headquartered in Kolkata, India.

Industry Group:Commercial Services & Supplies

Employees:290

Website:www.mstcindia.co.in

Pros

Balance Sheet: Strong Balance Sheet.

Technicals: Bullish SharesGuru indicator.

Dividend: Pays a strong dividend yield of 8.77%.

Buy Backs: Company has bought back it's stock in the past which is a good thing.

Profitability: Very strong Profitability. One year profit margin are 56%.

Cons

Growth: Declining Revenues! Trailing 12m revenue has fallen by -12.2% in past one year. In past three years, revenues have changed by -38.6%.

Momentum: Stock has a weak negative price momentum.

Smart Money: Smart money looks to be reducing their stake in the stock.

The Good, Bad and Ugly

Growth

Profitability

Size

Dilution Rank

Balance Sheet

Momentum

Technicals

Smart Money

Insider Trading

Sector Comparison: MSTCLTD vs Commercial Services & Supplies

Comprehensive comparison against sector averages

Comparative Metrics

MSTCLTD metrics compared to Commercial

Category	MSTCLTD	Commercial
PE	8.74	19.12
PS	4.91	0.33
Growth	-12.2 %	5.5 %

Performance Comparison

MSTCLTD vs Commercial (2021 - 2025)

Key Insights

1. MSTCLTD is among the Top 3 Trading & Distributors companies by market cap.
2. The company holds a market share of 0.5% in Trading & Distributors.
3. In last one year, the company has had a below average growth that other Trading & Distributors companies.

Income Statement for MSTC

Standalone figures (in Rs. Crores) / View Consolidated Data

QuarterlyAnnual

Description	(%) Q/Q	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Revenue From Operations	12.7%	81	72	69	82	71	81
Other Income	-30%	15	21	17	121	24	40
Total Income	3.3%	96	93	86	203	95	121
Employee Expense	-4.5%	22	23	22	19	26	22
Finance costs	-9.9%	0	0.09	0.09	0.41	0	0
Depreciation and Amortization	-40.6%	1.98	2.65	2.31	2.19	1.71	1.72
Other expenses	18.7%	10	8.58	7.41	113	9.22	8.92
Total Expenses	0%	34	34	32	135	37	32
Profit Before exceptional items and Tax	5.2%	62	59	54	68	58	88
Exceptional items before tax	9419.7%	275	-1.94	0	0	0	0
Total profit before tax	500%	337	57	54	68	58	88
Current tax	500%	85	15	14	-16.94	19	20
Deferred tax	19.4%	-0.29	-0.6	0.12	65	-0.54	0
Total tax	546.2%	85	14	14	48	18	20
Total profit (loss) for period	497.6%	252	43	40	20	39	69
Other comp. income net of taxes	1787.5%	3.7	0.84	-0.02	-5.23	-0.83	0.44
Total Comprehensive Income	493%	256	44	40	14	38	69
Earnings Per Share, Basic	582.2%	35.86	6.11	5.75	2.77	5.59	9.73
Earnings Per Share, Diluted	582.2%	35.86	6.11	5.75	2.77	5.59	9.73

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020	Mar-2019
Revenue From Operations	-2.8%	316	325	471	428	831	2,927
Other Income	17.4%	203	173	279	211	62	42
Total Income	4.2%	519	498	750	639	892	2,969
Purchases of stock-in-trade	-	0	0	159	175	566	2,543
Employee Expense	27.9%	88	69	86	68	71	60
Finance costs	35.2%	0.41	0.09	2.62	6.89	27	57
Depreciation and Amortization	16.8%	7.32	6.41	4.68	2.48	2.04	1.25
Other expenses	27.8%	139	109	278	273	96	577
Total Expenses	27.2%	235	185	529	524	763	3,238
Profit Before exceptional items and Tax	-9.3%	284	313	220	115	129	-269.21
Total profit before tax	-9.3%	284	313	220	115	129	-269.21
Current tax	0%	39	39	6.49	10	24	34
Deferred tax	114.7%	74	35	14	3.22	30	21
Total tax	53.4%	113	74	20	14	54	55
Total profit (loss) for period	-28.2%	172	239	200	101	75	-324.46
Other comp. income net of taxes	-346.7%	-4.92	3.4	1.25	-2.71	-3.46	-0.13
Total Comprehensive Income	-31.4%	167	243	201	98	72	-324.6
Earnings Per Share, Basic	-29%	24.42	33.98	28.42	14.36	10.68	-46.09
Earnings Per Share, Diluted	-29%	24.42	33.98	28.42	14.36	10.68	-46.09

Consolidated figures (in Rs. Crores) / View Standalone Data

QuarterlyAnnual

Description	(%) Q/Q	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Revenue From Operations	12.7%	81	72	190	199	185	188
Other Income	-30%	15	21	19	147	19	23
Total Income	3.3%	96	93	209	346	204	211
Purchases of stock-in-trade	-	0	0	16	18	16	16
Employee Expense	-4.5%	22	23	43	48	51	56
Finance costs	-9.9%	0	0.09	0.09	0.41	0	0
Depreciation and Amortization	-40.6%	1.98	2.65	6.66	6.26	6.95	5.47
Other expenses	18.7%	10	8.58	59	166	53	54
Total Expenses	0%	34	34	125	238	127	131
Profit Before exceptional items and Tax	5.2%	62	59	83	108	77	80
Exceptional items before tax	9419.7%	275	-1.94	0	0	0	0
Total profit before tax	500%	337	57	83	108	77	80
Current tax	500%	85	15	22	-6.15	26	24
Deferred tax	19.4%	-0.29	-0.6	-1.64	65	-1.26	-1.15
Total tax	546.2%	85	14	20	58	25	23
Total profit (loss) for period	354.5%	251	56	62	48	50	55
Other comp. income net of taxes	280.5%	3.69	-0.49	-0.32	-5.86	-1.47	1.89
Total Comprehensive Income	361.8%	255	56	62	43	48	57
Earnings Per Share, Basic	394%	35.63	8.01	8.79	6.88	7.1	7.86
Earnings Per Share, Diluted	394%	35.63	8.01	8.79	6.88	7.1	7.86

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020	Mar-2019
Revenue From Operations	4.2%	751	721	876	780	1,231	3,292
Other Income	33.8%	211	158	247	214	65	48
Total Income	9.3%	961	879	1,123	994	1,296	3,340
Purchases of stock-in-trade	-1.6%	63	64	214	218	615	2,591
Employee Expense	16.4%	200	172	193	173	183	169
Finance costs	35.2%	0.41	0.09	2.62	7.15	29	58
Depreciation and Amortization	9.5%	24	22	21	19	17	15
Other expenses	12.8%	327	290	460	440	283	742
Total Expenses	12.3%	614	547	891	857	1,127	3,575
Profit Before exceptional items and Tax	4.5%	347	332	233	137	169	-234.54
Total profit before tax	4.5%	347	332	233	137	169	-234.54
Current tax	26%	64	51	22	21	36	50
Deferred tax	102.9%	72	36	12	2.23	34	20
Total tax	57%	136	87	34	23	70	70
Total profit (loss) for period	-15.8%	204	242	199	113	97	-307.1
Other comp. income net of taxes	-279.7%	-5.38	4.55	-12.19	5.7	-9.81	-4.46
Total Comprehensive Income	-19.5%	199	247	187	119	87	-311.56
Earnings Per Share, Basic	-16%	29.03	34.37	28.29	16.05	13.78	-43.62
Earnings Per Share, Diluted	-16%	29.03	34.37	28.29	16.05	13.78	-43.62

Cash Flow for MSTC

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022
Finance costs	35.2%	0.41	0.09	2.62
Depreciation	16.8%	7.4	6.48	4.77
Impairment loss / reversal	4%	0.03	-0.01	0.02
Dividend income	-21.9%	26	33	42
Adjustments for interest income	45.5%	65	45	17
Net Cashflows from Operations	-127.5%	-222.2	814	94
Income taxes paid (refund)	31.1%	60	46	25
Net Cashflows From Operating Activities	-137%	-282.52	768	70
Proceeds from sales of PPE	-	0.04	0	-8.08
Purchase of property, plant and equipment	4358.3%	108	3.4	0
Purchase of other long-term assets	-53.3%	242	517	17
Dividends received	-21.9%	26	33	42
Interest received	104%	52	26	16
Net Cashflows From Investing Activities	41.1%	-272.04	-462.34	27
Repayments of borrowings	-128.6%	0	4.5	4.89
Dividends paid	-15.9%	96	114	91
Interest paid	-9.9%	0	0.09	2.62
Net Cashflows from Financing Activities	18.5%	-96.45	-118.64	-98.32
Net change in cash and cash eq.	-450.5%	-651.01	187	-1.87

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022
Finance costs	35.2%	0.41	0.09	2.62
Change in inventories	-412.5%	-0.23	0.76	-0.75
Depreciation	9.5%	24	22	21
Impairment loss / reversal	16.2%	-0.09	-0.3	0.18
Adjustments for interest income	40.4%	74	53	23
Net Cashflows from Operations	-125.1%	-236.63	947	208
Income taxes paid (refund)	25.4%	75	60	40
Net Cashflows From Operating Activities	-135.4%	-312.11	886	168
Proceeds from sales of PPE	44.7%	0.79	0.62	53
Purchase of property, plant and equipment	555%	132	21	73
Purchase of other long-term assets	-70.7%	178	605	61
Interest received	93.9%	65	34	17
Net Cashflows From Investing Activities	58.7%	-244.14	-593.2	-69.9
Repayments of borrowings	-128.6%	0	4.5	4.89
Dividends paid	-15.9%	96	114	91
Interest paid	-9.9%	0	0.09	2.62
Net Cashflows from Financing Activities	18.5%	-96.45	-118.64	-98.32
Net change in cash and cash eq.	-475.7%	-652.7	175	0.23

Balance Sheet for MSTC

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Cash and cash equivalents	5.4%	255	242	366	893	674	706
Total current financial assets	-1.4%	1,373	1,392	1,499	1,896	1,440	1,214
Total current assets	-1.4%	1,377	1,397	1,580	1,911	1,444	1,216
Property, plant and equipment	-5.5%	53	56	56	59	58	60
Capital work-in-progress	-	0	0	0	0	0	0
Investment property	-	0	0	0	0	0	0
Non-current investments	-	0	0	0	0	0	0
Total non-current financial assets	-3.3%	3.96	4.06	4.56	4.15	4.46	4.65
Total non-current assets	0%	442	442	364	366	381	396
Total assets	-0.3%	1,835	1,840	1,944	2,277	1,825	1,612
Borrowings, non-current	-	0	0	0	0	0	0
Total non-current financial liabilities	200.3%	9.95	3.98	3.19	3.65	3.94	3.67
Provisions, non-current	-5.9%	17	18	9.42	12	9.63	18
Total non-current liabilities	-6.2%	31	33	24	27	24	29
Borrowings, current	0%	145	145	145	145	145	150
Total current financial liabilities	-3.7%	1,070	1,111	1,194	1,631	1,199	1,090
Provisions, current	-102.5%	0.91	4.55	0.48	2.97	1.85	3.8
Total current liabilities	-4.6%	1,090	1,142	1,212	1,656	1,217	1,117
Total liabilities	-4.6%	1,121	1,175	1,236	1,683	1,241	1,147
Equity share capital	0%	70	70	70	70	70	70
Total equity	7.4%	714	665	708	594	584	465
Total equity and liabilities	-0.3%	1,835	1,840	1,944	2,277	1,825	1,612

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Cash and cash equivalents	-4.9%	255	268	453	921	710	746
Total current financial assets	-20.2%	1,373	1,720	1,843	2,198	1,672	1,450
Inventories	-122.8%	0	5.38	5.53	5.15	6.25	5.91
Total current assets	0.8%	1,754	1,740	1,938	2,227	1,689	1,469
Property, plant and equipment	-61.8%	53	137	127	133	126	132
Capital work-in-progress	-	0	0	0	0.08	0.26	0
Investment property	-	0	0	0	0	0	0
Non-current investments	-	0	0	0	0	0	0
Total non-current financial assets	-15.9%	3.96	4.52	5.02	26	86	81
Total non-current assets	-16.6%	422	506	430	460	528	544
Total assets	1.2%	2,276	2,249	2,369	2,688	2,217	2,012
Borrowings, non-current	-	0	0	0	0	0	0
Total non-current financial liabilities	-2%	3.92	3.98	3.19	3.65	3.94	3.67
Provisions, non-current	-82.8%	17	94	82	90	71	101
Total non-current liabilities	-1.9%	107	109	97	105	85	113
Borrowings, current	0%	145	145	145	145	145	150
Total current financial liabilities	-9.5%	1,070	1,182	1,238	1,690	1,232	1,144
Provisions, current	-100.4%	0.91	22	109	70	84	62
Total current liabilities	-4.2%	1,198	1,251	1,377	1,797	1,345	1,245
Total liabilities	-4%	1,305	1,360	1,474	1,902	1,430	1,358
Equity share capital	0%	70	70	70	70	70	70
Total equity	9.2%	971	889	894	786	787	654
Total equity and liabilities	1.2%	2,276	2,249	2,369	2,688	2,217	2,012

Investor Care
Dividend Yield	8.77%
Dividend/Share (TTM)	45.5
Shares Dilution (1Y)	0.00%
Diluted EPS (TTM)	59.31

Financial Health
Current Ratio	1.46
Debt/Equity	0.15
Debt/Cashflow	-2.15

Valuation
Market Cap	3.65 kCr
Price/Earnings (Trailing)	8.74
Price/Sales (Trailing)	4.91
EV/EBITDA	6.05
Price/Free Cashflow	-10.09
MarketCap/EBT	6.24

Fundamentals
Revenue (TTM)	743.95 Cr
Rev. Growth (Yr)	-52.94%
Rev. Growth (Qtr)	3.15%
Earnings (TTM)	417.59 Cr
Earnings Growth (Yr)	401.98%
Earnings Growth (Qtr)	344.88%

Profitability
Operating Margin	41.93%
EBT Margin	78.7%
Return on Equity	42.99%
Return on Assets	18.34%
Free Cashflow Yield	-9.91%

Summary of Latest Earnings Report from MSTC

Summary of MSTC's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.

Earnings Outlook

Last updated: Feb 25

Management Outlook and Major Points from MSTC Limited (Q3 FY25):

Outlook:

Management remains optimistic about diversifying into new sectors (e.g., FM bandwidth auctions, minor minerals, realty) and expanding e-commerce services.
Growth Drivers:
1. Coal India Auctions: Regained contract for 40% of Coal India's auctions, expected to boost e-commerce revenue.
2. New Verticals: FM bandwidth auctions (Ministry of I&B), offshore/minor mineral block auctions (Ladakh, Goa), and partnerships (e.g., BPCL scrap sales).
3. MSTC Realty Portal: Launched for private/cooperative banks to auction properties; seen as a growth avenue.
4. Data Center Development: New center in Delhi (operational in ~6 months) to monetize infrastructure.
5. Policy Opportunities: Awaiting stricter vehicle scrappage policies to revive the JV with Mahindra (MMRPL).

Operational & Financial Highlights:

Exceptional Items: INR 273.54 Cr net gain from FSNL subsidiary sale (INR 320 Cr proceeds) offset by arbitration provision.
Segment Performance:
- E-Commerce Revenue: Flat (INR 193.64 Cr in 9M FY25 vs. INR 203.43 Cr YoY) due to lost NPA auctions; growth projected at 8"“10% CAGR with new initiatives.
- Coal Auctions: Resumed after Coal India's in-house portal failed; expected to stabilize revenue.
- Marketing Segment: Steady but limited growth (low-risk, BG-backed trade).
Consolidated PAT: INR 331.56 Cr (9M FY25) vs. INR 146.73 Cr YoY, aided by exceptional income.

Challenges:

E-Commerce Competition: Low entry barriers and client shifts to in-house portals (e.g., public banks' NPA auctions) pressure revenue.
JV Performance: MMRPL (vehicle scrappage) remains loss-making due to low organized-sector supply.

Strategic Focus:

Expand value-added services (property listings, ecosystem integration) and onboard startups/private institutions.
Leverage government partnerships (minerals, FM auctions) and prioritize high-margin opportunities.

Q&A Session

Last updated: Feb 25

Question 1:
"If we analyze the results of the company over the last 10 to 12 quarters, we see that the e-commerce revenue has been in a very small band... When do we expect to come out of this band... what are the efforts... for growth... and what sustainable growth rate should one expect?"
Answer:
E-commerce revenue stagnation stems from low entry barriers, client reliance on tenders, and shifts like Coal India developing its portal. MSTC focuses on onboarding startups, diversifying business models (e.g., MSTC Realty for private banks), and expanding mineral/coal auctions. Growth is projected at 8"“10% CAGR, contingent on new initiatives like property listings and value-added services, though exponential growth is unlikely within a year.

Question 2:
"Can you please give me a sense of how scrap prices moved this quarter... Is my understanding correct [that] metal scrap prices decreased?"
Answer:
Scrap prices declined this quarter, but sales volumes increased, offsetting price impacts. Revenue from scrap auctions remains part of e-commerce vertical performance.

Question 3:
"What is the status of the JV business with Mahindra regarding vehicle scrap? How are we doing there?"
Answer:
The JV (MMRPL) continues to incur losses due to insufficient organized supply of end-of-life vehicles. Policy delays in stringent scrappage regulations hinder progress, though loss reduction (from Rs.5.68 crore to Rs.4.35 crore YoY) reflects minor operational improvements.

Question 4:
"What is the progress on the data center business? When do we expect revenue, and what capex is envisaged?"
Answer:
MSTC is repurposing redundant infrastructure for data hosting (co-mingled with existing revenue). A new Delhi data center is under construction, expected in 6 months. Revenue potential remains unclear, pending scalability and client onboarding post-commissioning.

Question 5:
"Coal India's contract: Is it valid for 1 year or long-term?"
Answer:
The Coal India contract spans 2 years, extendable by another year. This restores revenue lost during Coal India's in-house portal experiment, though NPA auction losses (public banks) remain uncompensated.

Question 6:
"Do we have competitors in the auction business? Did we lose business to them recently?"
Answer:
Competitors include M Junction and C1 India. MSTC lost NPA auction business to banks' in-house portals (e.g., public sector banks) but retained Coal India after their failed internal platform. Competitors rarely displace MSTC unless clients self-develop solutions.

Question 7:
"What comprises the segment-wise breakup (marketing, e-commerce, others) and working capital?"
Answer:
E-commerce (scrap, minerals, coal auctions) drives 85%+ revenue. Marketing involves low-risk trade (bank-guaranteed). Others include unallocated expenses (salaries, overheads). Working capital (~Rs.110 crore) covers server costs, salaries, and minimal capex, funded via internal accruals.

Description	Share	Value
E-Commerce	92.6%	89 Cr
Marketing	4.4%	4.2 Cr
Others(unallocated)	3.1%	3 Cr
Total		96.2 Cr

Shareholder Name	Holding %
PRESIDENT OF INDIA	64.75%
JUPITER INDIA FUND	1.72%
VALUEQUEST INDIA MOAT FUND LIMITED	1.08%
Employees	0.02%

Ticker	Name	Mkt Cap	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
MCX	Multi Commodity Exchange of IndiaExchange and Data Platform	30.41 kCr	986.26 Cr	+17.71%	+45.46%	174.41	35.95	+38.26%	+51128.99%
GRAVITA	GRAVITA INDIAIndustrial Minerals	13.84 kCr	3.8 kCr	+5.66%	+93.48%	48.15	3.65	+21.58%	+21.34%
INDIAMART	IndiaMART InterMESHInternet & Catalogue Retail	13.5 kCr	1.59 kCr	+8.64%	-15.43%	28.73	8.49	+20.82%	+61.85%
MMTC	MMTCTrading & Distributors	8.74 kCr	283.62 Cr	+11.03%	-21.98%	56.7	30.82	-68.17%	+16.58%

MSTCLTD - MSTC Limited Share Price

What does MSTC Limited do?

Sector Comparison: MSTCLTD vs Commercial Services & Supplies

Comparative Metrics

Performance Comparison

Income Statement for MSTC

Cash Flow for MSTC

Balance Sheet for MSTC

Investor Care

Financial Health

Valuation

Fundamentals

Profitability

Summary of Latest Earnings Report from MSTC

Revenue Breakdown

Share Holdings

Holding Pattern

Share Holding Details

Overall Distribution

Ownership Distribution

Is MSTC Better than it's peers?

Price to Sales Ratio

Revenue (Last 12 mths)

Net Income (Last 12 mths)