MSTC Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management said on revenue, margins and capex.
- Revenue
- ₹88Cr
- +8.6% YoY
- Net profit
- ₹51Cr
- −79.7% YoY
- Margin
- 56%
- −2 pp YoY
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The short version
E-commerce segment expected to grow steadily with key drivers being iron ore, coal, and new exchanges like the CPCB EPR trading exchange contributing significantly from FY 2027 onward. MSTC demonstrated nearly double-digit growth in revenue and EBITDA year-on-year for the first 9 months of FY '26.
From MSTC's Q3 FY26 earnings-call transcript · updated 26 Aug 2026.
Revenue & Sales Performance
- E-commerce segment expected to grow steadily with key drivers being iron ore, coal, and new exchanges like the CPCB EPR trading exchange contributing significantly from FY 2027 onward.
- Revenue from new CPCB exchange expected to start from Q1 FY 2027, with growth stabilizing after about two quarters.
- Travel booking platform for government and private sectors to begin revenue generation from next fiscal year; government segment may start after 1-2 quarters.
- AI platform implementation already underway, anticipated to improve operational efficiency, customer experience, and revenue growth through automation and analytics.
- Rationalization of fixed costs and inventory controls in joint ventures, with net losses decreasing quarter-to-quarter, moving toward profitability.
2 more points from MSTC's call on revenue
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Profitability & Margins
See what MSTC said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Recent major capital investment includes construction of a corporate office building at World Trade Center, New Delhi, significantly increasing assets from Rs. 53 crores to Rs. 196 crores.
- This new office acts as a business hub, expected to help fetch more business opportunities, especially by liaising with stakeholders in the capital.
- Upcoming CAPEX will focus on augmentation of system resources such as servers and IT hardware, mainly for supporting new electronic exchanges and business expansion.
- MSTC remains primarily an asset-light company; thus, most capital expenditures are for end-of-life replacement of hardware/software related to IT backbone.
2 more points from MSTC's call on capex
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Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- It highlights ongoing and upcoming projects like the CPCB Electronic Trading Exchange (EPR trading) expected to contribute significantly from next financial year.
- There is positive momentum in allocations such as gold bullion tariff rate quotas by DGFT, sand block allocations in Chhattisgarh, and mineral block auctions for Tamil Nadu and Hyderabad.
- The company is optimistic about increasing volumes of feedstock driven by OEMs under EPR, suggesting growing operational activities.
- The new corporate office at Delhi is expected to help fetch more business, indicating potential future orders.
2 more points from MSTC's call on order book
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MSTC — Quarterly revenue & net profit
MSTC Q3 FY26 results — key figures
| ₹ Cr | Q3 FY26 | Q3 FY25 | YoY | Q2 FY26 | QoQ |
|---|---|---|---|---|---|
| Revenue | 88 | 81 | +8.6% | 85 | +3.5% |
| Operating profit (EBITDA) | 50 | 47 | +6.4% | 50 | 0% |
| Operating margin | 56% | 58% | -2 pp | 59% | -3 pp |
| Profit before tax | 65 | 336 | -80.7% | 65 | 0% |
| Net profit (PAT) | 51 | 251 | -79.7% | 48 | +6.3% |
| EPS (₹) | 7.30 | 35.63 | -79.5% | 6.75 | +8.1% |
Source: reported quarterly figures (Screener), ₹ crore.
Reported quarterly figures (₹ Cr). Latest (Q3 FY26): revenue ₹88 Cr, net profit ₹51 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What MSTC's management said in earlier quarters
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- Alldigi Tech (Q3 FY26)
Q3 FY26 Revenue: ₹152.7 Cr, a 9.5% year-on-year (YoY) increase and 3.6% quarter-on-quarter (QoQ) growth (Page 6, 13, 15, 23). Key investor presentation takeaway
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Frequently Asked Questions
What were MSTC Q3 FY26 results?
E-commerce segment expected to grow steadily with key drivers being iron ore, coal, and new exchanges like the CPCB EPR trading exchange contributing significantly from FY 2027 onward. MSTC demonstrated nearly double-digit growth in revenue and EBITDA year-on-year for the first 9 months of FY '26.
What is MSTC share price analysis?
MSTC currently shows a neutral. The stock trades at a P/E of 21.1 with a market cap of ₹4,938 Cr. Investors should review the full earnings analysis for detailed insights.
Is MSTC planning capital expenditure?
Recent major capital investment includes construction of a corporate office building at World Trade Center, New Delhi, significantly increasing assets from Rs. 53 crores to Rs. 196 crores.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.