MSTC Ltd

MSTC Ltd

₹ 561 -0.16%
10 Jun - close price
About

MSTC (Metal Scrap Trade Corporation) Ltd undertakes trading activities, e-commerce and also disposal of ferrous and non-ferrous scrap, surplus stores, minerals, agri and forest products, etc.[1] The company is owned and controlled by the Government of India.

Key Points

Trading/ Marketing Business (~37% of revenues in FY22) [1]
The company acts as a facilitator for procurement of raw material for secondary steel producers and petrochemical industry on behalf of buyers and charges mark-up on a percentage basis.
The business is involved in import as well as domestic sourcing of bulk industrial raw material for actual users as well as traders. It sources raw materials like heavy melting scrap, low ash metallurgical coke, HR coil, Naptha, crude oil, coking coal, etc. [2]

  • Market Cap 3,953 Cr.
  • Current Price 561
  • High / Low 1,037 / 411
  • Stock P/E 20.1
  • Book Value 105
  • Dividend Yield 7.22 %
  • ROCE 25.6 %
  • ROE 24.2 %
  • Face Value 10.0

Pros

  • Stock is providing a good dividend yield of 7.22%.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 27.1%
  • Company has been maintaining a healthy dividend payout of 53.1%

Cons

  • The company has delivered a poor sales growth of -24.1% over past five years.
  • Earnings include an other income of Rs.340 Cr.
  • Company has high debtors of 363 days.

* 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
196 181 175 169 197 179 81 185 199 69 72 81 89
353 109 190 114 116 114 33 123 232 30 33 34 36
Operating Profit -157 72 -15 55 81 65 48 62 -33 39 39 47 53
OPM % -80% 40% -8% 32% 41% 36% 60% 34% -17% 56% 54% 58% 59%
228 14 94 14 36 21 29 19 147 40 34 291 13
Interest 0 0 0 0 0 0 2 0 0 2 3 2 0
Depreciation 6 5 5 5 6 5 0 7 6 0 0 0 2
Profit before tax 65 81 74 64 111 81 75 75 107 76 70 336 64
Tax % -47% 33% 14% 26% 31% 37% 26% 33% 55% 18% 20% 25% -19%
96 54 64 47 77 51 55 50 48 62 56 251 76
EPS in Rs 13.63 7.71 9.04 6.68 10.93 7.19 7.86 7.10 6.88 8.79 8.01 35.63 10.73
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
5,454 5,689 3,225 1,739 2,265 3,292 1,231 780 876 721 751 311
5,276 5,525 3,386 1,603 2,578 3,498 1,083 831 867 528 597 133
Operating Profit 178 164 -161 136 -313 -206 148 -51 9 193 154 178
OPM % 3% 3% -5% 8% -14% -6% 12% -7% 1% 27% 21% 57%
-114 90 83 137 528 48 65 214 247 158 211 340
Interest 145 93 104 78 85 65 30 8 3 0 0 0
Depreciation 15 8 12 12 12 15 17 19 21 22 24 9
Profit before tax -95 152 -194 183 117 -237 167 136 233 329 340 508
Tax % -35% 32% 27% 24% 34% 29% 42% 17% 15% 26% 40% 20%
-62 103 -247 139 77 -307 97 113 199 242 204 407
EPS in Rs -70.48 117.51 -280.80 79.06 21.94 -43.62 13.78 16.05 28.28 34.37 29.03 57.82
Dividend Payout % 0% 18% -7% 25% 34% -17% 0% 27% 46% 44% 53% 62%
Compounded Sales Growth
10 Years: -25%
5 Years: -24%
3 Years: -29%
TTM: -59%
Compounded Profit Growth
10 Years: 7%
5 Years: 15%
3 Years: 0%
TTM: -4%
Stock Price CAGR
10 Years: %
5 Years: 34%
3 Years: 26%
1 Year: -34%
Return on Equity
10 Years: 12%
5 Years: 27%
3 Years: 27%
Last Year: 24%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 9 9 9 18 35 70 70 70 70 70 70 70
Reserves 749 829 306 388 696 318 404 488 584 716 819 668
873 1,106 653 688 766 615 259 154 150 145 145 145
3,811 4,082 3,194 3,505 3,607 1,826 1,469 1,536 1,211 1,758 1,216 1,235
Total Liabilities 5,441 6,026 4,162 4,600 5,104 2,829 2,201 2,249 2,015 2,690 2,250 2,118
68 73 62 66 69 83 96 89 142 141 150 65
CWIP 2 2 4 2 10 23 29 52 0 0 0 0
Investments 0 0 0 3 9 14 11 14 21 19 12 12
5,371 5,951 4,096 4,529 5,015 2,708 2,065 2,093 1,853 2,529 2,087 2,042
Total Assets 5,441 6,026 4,162 4,600 5,104 2,829 2,201 2,249 2,015 2,690 2,250 2,118

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
-35 -150 116 -519 21 101 222 681 170 844 -312 260
86 72 68 377 84 60 255 11 -72 -551 -244 165
-184 233 -476 12 -94 -217 -233 -107 -98 -119 -96 -289
Net Cash Flow -134 154 -292 -130 11 -56 245 585 0 175 -653 136

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 257 266 292 726 642 207 434 416 228 235 252 363
Inventory Days 3 11 3 22 1 1 4 10 12 35 36
Days Payable 236 213 291 761 598 134 388 722 356 903 968
Cash Conversion Cycle 24 64 3 -13 45 74 50 -295 -116 -634 -679 363
Working Capital Days 16 24 -50 39 88 21 38 -234 -187 -525 -249 -984
ROCE % 14% -6% 25% 16% -14% 23% 20% 31% 38% 35% 26%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
64.75% 64.75% 64.75% 64.75% 64.75% 64.75% 64.75% 64.75% 64.75% 64.75% 64.75% 64.75%
0.31% 0.31% 0.35% 0.47% 1.09% 3.59% 3.33% 5.64% 5.76% 6.21% 6.18% 5.47%
2.17% 1.72% 1.54% 1.41% 1.36% 1.43% 1.35% 1.19% 1.94% 1.63% 1.68% 1.68%
32.78% 33.22% 33.35% 33.37% 32.81% 30.24% 30.58% 28.41% 27.55% 27.40% 27.39% 28.10%
No. of Shareholders 63,40463,45962,50262,33756,22449,41156,75369,53468,97176,70277,26783,047

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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