MSTC Limited

NSE: MSTCLTD · Trading & Distributors

52W Range₹362 ₹744

Snapshot

Unlock MSTC Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

MSTC Limited is a public sector undertaking that operates as a diversified e-commerce and trading company. It facilitates the sale of industrial raw materials and provides comprehensive e-auction and e-procurement services for government departments, PSUs, and private institutions.

Business Model

The company generates revenue through service charges and commissions derived from its e-auction and e-procurement platforms, alongside direct trading margins from the sourcing and sale of industrial raw materials like scrap, coal, and petroleum products.

Growth Outlook

Growth is driven by the increasing digitisation of government procurement processes and the expansion of e-auction services into new asset classes such as agricultural produce and non-coal mine blocks.

Key Risks

  • Regulatory Dependency. The company's business model relies heavily on government mandates for e-procurement and auctioning, making it sensitive to changes in public sector policies.
  • Commodity Price Volatility. Fluctuations in the global prices of industrial raw materials like steel scrap and coal can impact the profitability of the company's trading operations.
  • Competition. The emergence of private e-commerce platforms and specialised digital procurement service providers poses a threat to MSTC's market share.
  • Operational Risk. As a technology-driven platform, the company faces risks related to cybersecurity, system downtime, and the integrity of its digital auction processes.

Price

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Key Metrics

REVENUE

₹370 Cr

TTM · consolidated

-14.3%YoY

NET PROFIT

₹218 Cr

TTM · consolidated

-50.9%YoY

EPS

₹31.03

TTM · consolidated

-49.2%YoY

RETURN ON EQUITY

28.0%

TTM · consolidated

-24.2 ppYoY

RETURN ON CAPITAL EMPLOYED

36.7%

TTM · consolidated

-21.0 ppYoY

P/E

20.4x

Q4 FY26 · consolidated

20.4 vs 20.2x5Y avg

EV/EBITDA

13.1x

Q4 FY26 · consolidated

13.1 vs 14.8x5Y avg

EBITDA MARGIN

83.2%

TTM · consolidated

+15.3 ppYoY

NET PROFIT MARGIN

65.0%

Q4 FY26 · consolidated

-20.0 ppYoY

DEBT TO EQUITY

0.2x

Q4 FY26 · consolidated

-0.04xYoY

Peers · Trading & Distributors

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
MSTC LimitedMSTCLTD
2,80920.3613.14-14.3%83.2%28.0%36.7%+17.6%
BN AgrochemBNAGROCHEM
2,19558.3173.23191.7%4.4%11.6%8.3%
Vintage CoffeeVINCOFE
1,95526.4818.78112.2%19.3%23.4%26.8%+10.3%
Creative NewtechCNL
85922.3616.3352.1%3.8%22.6%30.9%
Yamuna SyndicateYSL
7627.31188.8615.4%6.2%8.6%0.3%-34.3%
SMT EngineeringSMTEL
74931.9820.23671.5%25.3%29.9%39.9%+1728.0%

As of Q4 FY26

Financials