MSTC Ltd
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]
- 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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 |
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| Scrap Disposal Business Volume INR Million ・Standalone data |
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| Major Mineral Blocks Allotted Number ・Standalone data |
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| Number of Auctions/Events Held Number ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
4 Jun - Transcript of Conference Call with Investors/Analyst held on Saturday, May 30th, 2026.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
30 May - Audio recording of investor call on 30 May 2026 for Q4 and FY2026 financial performance available online.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
30 May - Newspaper publication of Audited Financial Results for the quarter and year ended 31st March, 2026.
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Outcome Of The Board Meeting: Audited Financial Results (Standalone & Consolidated) For The Quarter And Year Ended 31St March 2026 Recommendation Of Final Dividend And Other Matters
29 May - MSTC approved FY26 audited results, recommended Rs 8.10 final dividend, and set AGM for 24 September 2026.
- Announcement under Regulation 30 (LODR)-Investor Presentation 29 May
Annual reports
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Financial Year 2025
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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
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Financial Year 2011
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Concalls
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Jun 2026Transcript PPT REC
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT
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Aug 2025Transcript PPT
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Jun 2025Transcript PPT
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Feb 2025Transcript PPT
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT
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Jun 2024Transcript PPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT REC
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Aug 2023Transcript PPT REC
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May 2023Transcript PPT REC
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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May 2022Transcript PPT
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Feb 2022Transcript PPT
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Nov 2021Transcript PPT
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Aug 2021Transcript PPT
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Jul 2021Transcript PPT
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Feb 2021Transcript PPT
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Dec 2020Transcript PPT
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Sep 2020Transcript PPT
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Jul 2020Transcript PPT
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Feb 2020Transcript PPT
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Nov 2019Transcript PPT
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Sep 2019TranscriptPPT
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Aug 2019TranscriptPPT
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Jun 2019TranscriptPPT
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%.