Commercial Services & Supplies
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Dividend: Pays a strong dividend yield of 8.49%.
Profitability: Very strong Profitability. One year profit margin are 103%.
Balance Sheet: Strong Balance Sheet.
Growth: Declining Revenues! Trailing 12m revenue has fallen by -52.6% in past one year. In past three years, revenues have changed by -62.8%.
Smart Money: Smart money is losing interest in the stock.
Momentum: Stock has a weak negative price momentum.
Technicals: SharesGuru indicator is Bearish.
Valuation | |
|---|---|
| Market Cap | 3.32 kCr |
| Price/Earnings (Trailing) | 7.97 |
| Price/Sales (Trailing) | 8.2 |
| EV/EBITDA | 5.63 |
| Price/Free Cashflow | 16.22 |
| MarketCap/EBT | 6.28 |
| Enterprise Value | 3.02 kCr |
Fundamentals | |
|---|---|
| Revenue (TTM) | 404.19 Cr |
| Rev. Growth (Yr) | 9.7% |
| Earnings (TTM) | 416.21 Cr |
| Earnings Growth (Yr) | -15.8% |
Profitability | |
|---|---|
| Operating Margin | 65% |
| EBT Margin | 131% |
| Return on Equity | 50.1% |
| Return on Assets | 20.67% |
| Free Cashflow Yield | 6.17% |
Growth & Returns | |
|---|---|
| Price Change 1W | 0.70% |
| Price Change 1M | -11.1% |
| Price Change 6M | -10.9% |
| Price Change 1Y | -38.7% |
| 3Y Cumulative Return | 13.5% |
| 5Y Cumulative Return | 24.5% |
Cash Flow & Liquidity | |
|---|---|
| Cash Flow from Investing (TTM) | 164.84 Cr |
| Cash Flow from Operations (TTM) | 260.3 Cr |
| Cash Flow from Financing (TTM) | -289.23 Cr |
| Cash & Equivalents | 436.65 Cr |
| Free Cash Flow (TTM) | 235.67 Cr |
| Free Cash Flow/Share (TTM) | 33.48 |
Balance Sheet | |
|---|---|
| Total Assets | 2.01 kCr |
| Total Liabilities | 1.18 kCr |
| Shareholder Equity | 830.69 Cr |
| Current Assets | 1.57 kCr |
| Current Liabilities | 1.16 kCr |
| Net PPE | 195.96 Cr |
| Inventory | 0.00 |
| Goodwill | 0.00 |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.07 |
| Debt/Equity | 0.17 |
| Interest Coverage | 1.82 L |
| Interest/Cashflow Ops | 2.83 K |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 45.5 |
| Dividend Yield | 8.49% |
| Shares Dilution (1Y) | 0.00% |
| Shares Dilution (3Y) | 0.00% |
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.
Last updated:
In the Q1 FY26 earnings conference call, management provided a positive outlook for MSTC Limited, highlighting a revenue increase of approximately 12% year-on-year this quarter, primarily driven by the e-commerce segment. They reported a Profit Before Tax (PBT) of INR 59.63 crores, up from INR 54.48 crores, and Profit After Tax (PAT) of INR 44.32 crores compared to INR 40.46 crores in the same period last year.
Key forward-looking points shared by management included:
Revenue Streams from Coal Auctions: The company has resumed participating in coal auctions from Coal India, expecting to drive revenue growth further in FY26. They reported earning about INR 4 crores from Coal India auctions in Q1.
JV Performance: The Mahindra Auto joint venture (MMRPL) has also performed steadily, with a positive long-term outlook anticipated as OEM volumes are expected to rise post-EPR policy adjustments.
Expansion of Private Sector Business: MSTC aims to increase business from private players, focusing on creating tailored platforms that would facilitate quicker sales transactions compared to traditional bidding models.
New Portal Launches: The introduction of the Upkaran portal, aimed at aggregating equipment manufacturers and dealers, is expected to drive growth. This portal has been well-received at industry summits and is currently in the onboarding phase.
Digital Transformation and Software Development: Management is exploring opportunities in developing software applications for various ministries to enhance operations, which could lead to scalable growth.
Long-Term Capital Allocation: While specific capex figures were not provided, management indicated that capital allocation would focus on upgrading software and hardware to support growth initiatives, affirming a commitment to invest significantly in these areas.
Overall, management emphasized a strategy focused on steady growth, digital enhancement, and broader market participation, with an eye towards maintaining and improving operational efficiencies.
Last updated:
Question: Can you elaborate on the scope of the software applications that MSTC is developing?
Answer: We are exploring opportunities in developing software for various ministries and industries, focusing on small applications like ERPs and integration tools. While the potential is great, it's too early to provide specific estimates on revenue for this segment.
Question: What steps are being taken to increase the share of private business in overall revenue?
Answer: We recognize the private sector's need for quick responses, so we are shifting towards a more listing-based platform. Our focus will be on smaller private organizations to expedite transactions while minimizing operational efforts.
Question: When can we expect significant growth in e-commerce revenue from new initiatives?
Answer: Growth will be steady rather than exponential. Q1 results reflect ongoing improvements, and I anticipate similar growth in the near future, but no sudden spikes in revenue.
Question: What is the annual capex requirement and future capital allocation policy?
Answer: As an asset-light company, our capex focuses on software upgrades and better hardware for data centers. We're currently assessing projects before making a final capex figure, ensuring we allocate profits effectively toward growth.
Question: What revenue did MSTC realize from FM channel auctions?
Answer: Revenue from FM channel auctions is minimal, as we earn per license allocation. Instead, the focus is on establishing complex platforms to showcase our capabilities for future opportunities.
Question: What was the revenue earned from Coal India auctions this quarter?
Answer: We earned about INR 4 crores from Coal India auctions in Q1. This is part of ongoing coal auctions with several entities, averaging INR 3-4 crores per quarter.
Question: What is the current cash position?
Answer: We haven't published the balance sheet yet, but cash profit is around INR 40 crores. A detailed cash flow statement will be available in September.
Question: What is the status of your joint venture with Mahindra in terms of revenue?
Answer: The JV has yet to be profitable, but an uptick is expected in the next 2-3 quarters as the EPR policy stabilizes and we start reaching our revenue targets.
Question: How much revenue have you generated from the scrapping of government vehicles?
Answer: We can't specify a number as it's part of our scrap auction revenue. However, total revenue from all scrap auctions, including ELV auctions, was INR 68 crores.
Question: What is the progress on the new data center in Delhi?
Answer: The new data center is still being set up and should take 4-5 months to fully operationalize. It's intended to augment our existing infrastructure.
This summarizes the major inquiries and corresponding responses provided in the conference call.
Analysis of MSTC's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.
Last Updated: Sep 30, 2025
| Description | Share | Value |
|---|---|---|
| E-commerce | 95.4% | 97.6 Cr |
| Marketing | 4.6% | 4.7 Cr |
| Total | 102.3 Cr |
Understand MSTC ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| PRESIDENT OF INDIA | 64.75% |
| JUPITER INDIA FUND | 1.72% |
Distribution across major stakeholders
Distribution across major institutional holders
Detailed comparison of MSTC against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| MCX | Multi Commodity Exchange of India | 51.82 kCr | 1.45 kCr | +7.70% | +52.30% | 74.45 | 35.71 | - | - |
| GRAVITA | GRAVITA INDIA | 13.61 kCr | 4.23 kCr | +6.20% | -18.40% | 36.61 | 3.22 | - | - |
| INDIAMART | IndiaMART InterMESH | 13.4 kCr | 1.73 kCr | -10.90% | -4.30% | 24.89 | 7.75 | - | - |
| MMTC | MMTC | 10.19 kCr | 262.78 Cr | -16.90% | -31.60% | 119.18 | 38.78 | - | - |
Comprehensive comparison against sector averages
MSTCLTD metrics compared to Commercial
| Category | MSTCLTD | Commercial |
|---|---|---|
| PE | 7.97 | 17.53 |
| PS | 8.20 | 0.32 |
| Growth | -52.6 % | 16.5 % |
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.
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MSTCLTD vs Commercial (2021 - 2025)