MSTC Limited

NSE: MSTCLTD · Trading & Distributors

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52W Range₹362 – ₹805

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.

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Key Metrics

REVENUE

₹386 Cr

TTM · consolidated

+21.0%YoY

NET PROFIT

₹234 Cr

TTM · consolidated

-44.9%YoY

EPS

₹33.29

TTM · consolidated

-44.9%YoY

RETURN ON EQUITY

28.5%

TTM · consolidated

-29.1 ppYoY

RETURN ON CAPITAL EMPLOYED

37.1%

TTM · consolidated

-30.4 ppYoY

P/E

21.2×

Q1 FY27 · consolidated

21.2 vs 21.7x5Y avg

EV/EBITDA

14.9x

Q1 FY27 · consolidated

14.9 vs 17.3x5Y avg

EBITDA MARGIN

84.6%

TTM · consolidated

+1.6 ppYoY

NET PROFIT MARGIN

61.8%

Q1 FY27 · consolidated

+7.1 ppYoY

DEBT TO EQUITY

0.2x

Q1 FY27 · consolidated

-0.04xYoY

Peers · Trading & Distributors

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
MSTC LimitedMSTCLTD
₹5,296 Cr21.2×14.9421.0%84.6%28.5%37.1%+43.4%
MMTC Ltd.MMTC
₹9,070 Cr18.9×123.10—-131.4%23.4%28.0%-13.9%
Vintage Coffee And Beverages LimitedVINCOFE
₹2,678 Cr192.4×106.9890.0%8.0%2.8%4.1%+22.2%
BN AgrochemBNAGROCHEM
₹2,023 Cr155.0×465.7884.5%0.5%4.0%0.8%-39.9%
Creative NewtechCNL
₹1,721 Cr24.9×17.9349.1%4.1%22.4%31.9%—
Pervasive Commodities LtdPERVASIVE
₹971 Cr-0.1×-62.60—-66.7%-31.5%-31.7%—

As of Q1 FY27

Financials