Master Trust Ltd
Incorporated in 1985, Master Trust Ltd is
in the business of lending, sales /purchase
of securities and lands[1]
- Market Cap ₹ 913 Cr.
- Current Price ₹ 74.2
- High / Low ₹ 174 / 55.6
- Stock P/E 110
- Book Value ₹ 54.7
- Dividend Yield 0.00 %
- ROCE 3.24 %
- ROE 1.48 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company is expected to give good quarter
- Company's working capital requirements have reduced from 184 days to 95.4 days
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 1.88% over last 3 years.
- Contingent liabilities of Rs.510 Cr.
- Company's cost of borrowing seems high
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Financial Services Financial Services Capital Markets Stockbroking & Allied
Part of BSE Allcap BSE Financial Services
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 15.37 | 16.72 | 10.56 | 4.55 | 18.60 | 8.30 | 7.68 | 13.95 | 11.77 | 10.63 | 20.29 | 19.37 | 25.86 | |
| 2.43 | 1.77 | 6.51 | 1.49 | 13.93 | 1.32 | 1.41 | 9.23 | 2.37 | 2.04 | 1.30 | 1.44 | 1.47 | |
| Operating Profit | 12.94 | 14.95 | 4.05 | 3.06 | 4.67 | 6.98 | 6.27 | 4.72 | 9.40 | 8.59 | 18.99 | 17.93 | 24.39 |
| OPM % | 84.19% | 89.41% | 38.35% | 67.25% | 25.11% | 84.10% | 81.64% | 33.84% | 79.86% | 80.81% | 93.59% | 92.57% | 94.32% |
| 0.00 | -0.02 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.00 | 0.01 | 0.23 | 0.72 | 0.65 | 0.00 | |
| Interest | 10.26 | 10.73 | 3.71 | 2.27 | 2.81 | 4.85 | 5.33 | 2.85 | 3.81 | 4.09 | 11.29 | 8.43 | 7.49 |
| Depreciation | 0.07 | 0.15 | 0.10 | 0.08 | 0.07 | 0.04 | 0.02 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.01 |
| Profit before tax | 2.61 | 4.05 | 0.24 | 0.71 | 1.79 | 2.09 | 0.94 | 1.86 | 5.59 | 4.73 | 8.42 | 10.15 | 16.89 |
| Tax % | 16.48% | 9.38% | 83.33% | 16.90% | -2.23% | 11.48% | 14.89% | 9.14% | 0.18% | -20.08% | 1.31% | 28.47% | |
| 2.18 | 3.67 | 0.05 | 0.59 | 1.83 | 1.85 | 0.81 | 1.69 | 5.58 | 5.68 | 8.30 | 7.26 | 8.29 | |
| EPS in Rs | 0.20 | 0.34 | 0.00 | 0.05 | 0.17 | 0.17 | 0.07 | 0.16 | 0.51 | 0.52 | 0.76 | 0.65 | 0.69 |
| Dividend Payout % | 50.09% | 0.00% | 0.00% | 0.00% | 59.67% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 1% |
| 5 Years: | 20% |
| 3 Years: | 18% |
| TTM: | 16% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 55% |
| 3 Years: | 9% |
| TTM: | -16% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 34% |
| 5 Years: | 52% |
| 3 Years: | 44% |
| 1 Year: | -47% |
| Return on Equity | |
|---|---|
| 10 Years: | 2% |
| 5 Years: | 2% |
| 3 Years: | 2% |
| Last Year: | 1% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10.92 | 10.92 | 10.92 | 10.92 | 10.92 | 10.92 | 10.92 | 10.92 | 10.92 | 10.92 | 10.92 | 11.27 | 12.35 |
| Reserves | 60.30 | 63.97 | 64.01 | 64.61 | 65.32 | 166.67 | 172.88 | 207.73 | 241.40 | 293.89 | 403.35 | 554.34 | 660.77 |
| 90.38 | 66.18 | 50.87 | 25.75 | 35.63 | 36.85 | 31.22 | 40.52 | 26.85 | 41.76 | 82.17 | 85.33 | 40.89 | |
| 13.64 | 11.19 | 11.39 | 10.97 | 7.07 | 50.68 | 40.81 | 33.39 | 43.82 | 2.98 | 1.42 | 1.24 | 2.91 | |
| Total Liabilities | 175.24 | 152.26 | 137.19 | 112.25 | 118.94 | 265.12 | 255.83 | 292.56 | 322.99 | 349.55 | 497.86 | 652.18 | 716.92 |
| 0.62 | 0.44 | 0.35 | 0.91 | 0.23 | 0.58 | 1.44 | 1.93 | 1.62 | 0.98 | 0.79 | 0.79 | 0.79 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 23.14 | 20.64 | 19.66 | 17.88 | 32.06 | 164.30 | 171.28 | 204.35 | 225.25 | 253.31 | 334.04 | 453.94 | 508.61 |
| 151.48 | 131.18 | 117.18 | 93.46 | 86.65 | 100.24 | 83.11 | 86.28 | 96.12 | 95.26 | 163.03 | 197.45 | 207.52 | |
| Total Assets | 175.24 | 152.26 | 137.19 | 112.25 | 118.94 | 265.12 | 255.83 | 292.56 | 322.99 | 349.55 | 497.86 | 652.18 | 716.92 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -2.14 | -3.32 | -6.94 | -0.90 | 2.69 | 2.27 | -2.48 | -2.57 | -31.18 | -1.59 | 1.04 | -22.19 | |
| 2.89 | 4.40 | 6.39 | 1.59 | -2.97 | -1.18 | 2.49 | 2.57 | 31.13 | 1.61 | -26.00 | 3.81 | |
| -1.09 | -1.09 | 0.00 | 0.00 | 0.00 | -1.11 | 0.00 | 0.00 | 0.00 | 0.00 | 24.94 | 18.38 | |
| Net Cash Flow | -0.34 | -0.01 | -0.55 | 0.70 | -0.27 | -0.02 | 0.01 | 0.00 | -0.05 | 0.02 | -0.02 | 0.00 |
| Free Cash Flow | -2.15 | -3.30 | -6.95 | -0.91 | 2.68 | 2.27 | -2.46 | -2.57 | -31.16 | -1.58 | 1.04 | -22.19 |
| CFO/OP | -14% | -20% | -166% | -25% | 57% | 36% | -37% | -51% | -332% | -18% | 6% | -114% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Working Capital Days | 1,007.13 | 1,048.50 | 1,741.70 | 4,275.71 | 800.25 | -966.15 | -672.49 | 4.45 | 301.12 | 267.14 | 188.71 | 95.35 |
| ROCE % | 9.05% | 9.78% | 2.96% | 2.62% | 4.32% | 4.25% | 2.92% | 1.99% | 3.49% | 2.82% | 4.68% | 3.24% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
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Documents
Announcements
- Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011. 8h
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
1d - Submitted Regulation 74(5) certificate for quarter ended March 31, 2026.
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DECLARATION UNDER REGULATION 31(4) OF THE SEBI (SAST) REGULATIONS, 2011
2d - Promoter filed annual Regulation 31(4) disclosure for FY ended March 31, 2026.
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Closure of Trading Window
24 Mar - Trading window closed April 1, 2026 until 48 hours after audited results publication.
- Revised Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011. 10 Mar
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
from bse
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Financial Year 2011
from bse
Business Segments[1][2][3][4]
Company provides diversified financial services platform with strong digital capabilities, multi-asset exposure, and expanding wealth management footprint targeting retail, HNI, and institutional segments.
a) Trading & Broking Segment
Offers multi-asset trading (Equity, Derivatives, Currency, Commodities) supported by advanced digital platforms including MasterWeb (browser-based), MasterSwift 2.0 (next-gen platform), Agnik (enterprise app for institutions) and RestAPI (algo trading). Focus on low-latency execution, real-time data, advanced charting, and mobile-first access, catering to retail, HNI and institutional clients.
b) Investment & Portfolio Management
Provides Portfolio Management Services (PMS) through proprietary strategies, third-party curated products and research-driven solutions. Caters to HNIs, institutional and risk-conscious investors with a focus on diversified, data-backed portfolio construction.
c) Wealth & Investment Products
Comprehensive offerings across Equity & Derivatives (trading & demat, research support), Fixed Income (tax-free bonds, PSU/corporate bonds, SGBs, corporate FDs), Alternative Investments (real estate funds, private equity), Structured Products (capital protection, market-linked instruments, currency hedging).
d) Mutual Funds & Insurance Distribution
Offers curated mutual fund selection with SIP/lumpsum options and goal-based planning. Insurance portfolio includes life (term, ULIP), health, and general insurance with cashless and quick-claim features.
e) Digital & Client Service Infrastructure
Strong digital ecosystem with SinglePoint unified service portal and integrated website platform. Business mix is 54% online and 46% offline, reflecting increasing digital penetration.