MSTC Ltd

MSTC Ltd

₹ 490 -4.33%
08 Jun - close price
About

MSTC (Metal Scrap Trade Corporation) Ltd is a Mini-Ratna Category-I PSU of GoIa and was set up in September 1964 for regulating export of ferrous scrap from India.
Currently, the company is under the Ministry of Steel, GoI and is engaged in trading items and e-commerce services, e-auctions and e-procurement services.[1]

Key Points

Company Overview[1]
MSTC was established in 1964 to regulate exports of ferrous scrap from India. Since 1991, it has been directly engaged in marketing melting scrap, coke/coal, iron ore, and other products, with gradual diversification into multiple products and services over time.
MSTC is a Mini Ratna Category-I PSU of the Government of India, headquartered in Kolkata. Post its IPO in March 2019, the Government reduced its stake to 64.75%.

  • Market Cap 3,451 Cr.
  • Current Price 490
  • High / Low 570 / 362
  • Stock P/E 15.8
  • Book Value 128
  • Dividend Yield 8.26 %
  • ROCE 30.3 %
  • ROE 26.6 %
  • Face Value 10.0

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.0%
  • Company has been maintaining a healthy dividend payout of 54.1%

Cons

  • The company has delivered a poor sales growth of -13.9% over past five years.
  • Earnings include an other income of Rs.83.4 Cr.
  • Company has high debtors of 224 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 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
197 179 81 185 199 69 72 81 89 77 85 88 119
116 114 33 123 232 30 33 34 36 34 35 39 43
Operating Profit 81 65 48 62 -33 39 39 47 53 44 50 50 76
OPM % 41% 36% 60% 34% -17% 56% 54% 58% 59% 56% 59% 56% 64%
36 21 29 19 147 17 19 291 13 16 17 18 32
Interest 0 0 2 0 0 0 0 0 0 0 0 0 0
Depreciation 6 5 0 7 6 2 3 2 2 2 3 3 3
Profit before tax 111 81 75 75 107 53 55 336 64 58 65 65 105
Tax % 31% 37% 26% 33% 55% 26% 25% 25% -19% 27% 26% 22% 26%
77 51 55 50 48 39 41 251 76 42 48 51 77
EPS in Rs 10.93 7.19 7.86 7.10 6.88 5.58 5.89 35.63 10.73 6.01 6.75 7.30 10.97
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
5,689 3,225 1,739 2,265 3,292 1,231 780 876 721 316 311 370
5,525 3,386 1,603 2,578 3,498 1,083 831 867 528 234 133 150
Operating Profit 164 -161 136 -313 -206 148 -51 9 193 82 178 219
OPM % 3% -5% 8% -14% -6% 12% -7% 1% 27% 26% 57% 59%
90 83 137 528 48 65 214 247 158 203 340 83
Interest 93 104 78 85 65 30 8 3 0 0 0 0
Depreciation 8 12 12 12 15 17 19 21 22 7 9 10
Profit before tax 152 -194 183 117 -237 167 136 233 329 278 508 292
Tax % 32% 27% 24% 34% 29% 42% 17% 15% 26% 41% 20% 25%
103 -247 139 77 -307 97 113 199 242 165 407 218
EPS in Rs 117.51 -280.80 79.06 21.94 -43.62 13.78 16.05 28.28 34.37 23.44 57.82 31.03
Dividend Payout % 18% -7% 25% 34% -17% 0% 27% 46% 44% 66% 70% 26%
Compounded Sales Growth
10 Years: -19%
5 Years: -14%
3 Years: -20%
TTM: 19%
Compounded Profit Growth
10 Years: 11%
5 Years: 14%
3 Years: -3%
TTM: 11%
Stock Price CAGR
10 Years: %
5 Years: 14%
3 Years: 16%
1 Year: -13%
Return on Equity
10 Years: 19%
5 Years: 29%
3 Years: 26%
Last Year: 27%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 9 9 18 35 70 70 70 70 70 70 70 70
Reserves 829 306 388 696 318 404 488 584 716 577 668 834
1,106 653 688 766 615 259 154 150 145 145 145 145
4,082 3,194 3,505 3,607 1,826 1,469 1,536 1,211 1,758 1,030 1,235 962
Total Liabilities 6,026 4,162 4,600 5,104 2,829 2,201 2,249 2,015 2,690 1,822 2,118 2,011
73 62 66 69 83 96 89 142 141 68 65 206
CWIP 2 4 2 10 23 29 52 0 0 0 0 0
Investments 0 0 3 9 14 11 14 21 19 28 12 12
5,951 4,096 4,529 5,015 2,708 2,065 2,093 1,853 2,529 1,725 2,042 1,792
Total Assets 6,026 4,162 4,600 5,104 2,829 2,201 2,249 2,015 2,690 1,822 2,118 2,011

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-150 116 -519 21 101 222 681 170 844 -283 260 -28
72 68 377 84 60 255 11 -72 -551 -272 165 257
233 -476 12 -94 -217 -233 -107 -98 -119 -96 -289 -54
Net Cash Flow 154 -292 -130 11 -56 245 585 0 175 -651 136 176
Free Cash Flow -165 112 -534 -3 67 187 647 148 811 -390 236 -50
CFO/OP -41% -100% -342% -22% -73% 173% -1,379% 2,309% 469% -270% 185% 7%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 266 292 726 642 207 434 416 228 235 366 363 224
Inventory Days 11 3 22 1 1 4 10 12 35
Days Payable 213 291 761 598 134 388 722 356 903
Cash Conversion Cycle 64 3 -13 45 74 50 -295 -116 -634 366 363 224
Working Capital Days 24 -50 -105 -35 -47 -38 -304 -249 -599 -894 -1,154 -789
ROCE % 14% -6% 25% 16% -14% 23% 20% 31% 38% 32% 29% 30%

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
Total Value of Goods Transacted (TVG) / Volume of Business
INR Million ・Standalone data

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Coal e-Auction Volume
INR Million ・Standalone data
Scrap Disposal Business Volume
INR Million ・Standalone data
Major Mineral Blocks Allotted
Number ・Standalone data
Number of Auctions/Events Held
Number ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
64.75% 64.75% 64.75% 64.75% 64.75% 64.75% 64.75% 64.75% 64.75% 64.75% 64.75% 64.75%
1.09% 3.59% 3.33% 5.64% 5.76% 6.21% 6.18% 5.47% 5.37% 4.06% 3.80% 3.93%
1.36% 1.43% 1.35% 1.19% 1.94% 1.63% 1.68% 1.68% 1.34% 1.22% 1.22% 1.20%
32.81% 30.24% 30.58% 28.41% 27.55% 27.40% 27.39% 28.10% 28.54% 29.98% 30.22% 30.11%
No. of Shareholders 56,22449,41156,75369,53468,97176,70277,26783,04784,42285,90492,04792,581

* 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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