Arthneeti

MSTC Q1 FY27 Share Price & Earnings Call Analysis

₹571.95+3.42% today
Market cap
₹4,024 Cr
P/E
17.17
ROE
26.60%
PEG
-5.17
Price to sales
10.41
Debt to equity
0.16
52W high / low
₹786 / ₹366
Sales growth (5Y)
-13.87%
EBITDA margin
60.41%
Net profit margin
59.09%
Promoter holding
64.75%
Sales (last year)
₹386 Cr

MSTC (Metal Scrap Trade Corporation) Ltd is a Mini-Ratna Category-I PSU of GoI 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]

Guidance scorecard · Q1 FY27 call

What MSTC Ltd's management guided
and where it ranks in Commercial Services & Supplies

Revenue10–20%MarginsFlatCapexWhat management saidFundraisingWhat management saidOrder bookWhat management said

RevenueQ1 FY27 call

10–20%
  • MSTC aims for sustained double-digit growth in revenue, targeting around 10-20% year-on-year growth in e-commerce vertical over upcoming quarters.
  • Major revenue drivers include mineral blocks, coal linkage auctions, and scrap sales, with scrap sales contributing steady 50-55% of e-commerce revenue.
  • Growth in new verticals like liquor license auctions, property auctions, and EPR platform expected to add to revenue, but these are in early stages and will mature gradually.
  • Expansion into private sector clientele alongside government business to increase volumes and revenue diversification.
  • New ventures like travel booking portal B2B segment is operational; B2C and expanded services expected later, with revenues growing after the platform stabilizes.

2 more points from MSTC Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what MSTC Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

  • MSTC has limited CAPEX due to its asset-light model, leveraging existing infrastructure for new ventures.
  • The travel booking portal is operational internally (B2B) and progressing towards B2C post IATA empanelment.
  • Development of a trade receivables discounting system (TReDS platform) is underway, awaiting RBI regulatory approvals; expected operationalization in FY27.
  • Electronic trading platform for Extended Producer Responsibility (EPR) certificates is ready with all integrations, awaiting government notification to commence operations.
  • MSTC is exploring establishment of coal and mineral exchanges, with initial discussions ongoing.

2 more points from MSTC Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what MSTC Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • Ongoing auction contracts with Coal India for coal linkage auctions, with the first batch underway and expected extension to other sectors.
  • Active mineral block auctions, including critical mineral blocks and exploration license blocks.
  • Agreement with Tamil Nadu Forest Department for auctioning about 100 tons of Red sandalwood via international competitive bidding soon.
  • Auction activities for Rashtriya Ispat Nigam Limited for process scrap.

2 more points from MSTC Ltd's call on the order book

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Full Q1 FY27 analysis
Full Commercial Services & Supplies ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Commercial Services & Supplies
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does MSTC Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Commercial Services & Supplies companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹2,470 Cr162.7
240%+Up 2%+₹41 Cr6.6
340%+Flat₹556 Cr40.0
440%+Flat₹102 Cr10.4
520–40%Up 2%+₹3,473 Cr40.9
620–40%Up 0–2%₹872 Cr13.3

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Financials of MSTC Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of MSTC Ltd

Quarterly Results

Quarter-by-quarter operating performance

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales +1691971798118519969728189778588
Expenses +1141161143312323230333436343539
Operating Profit5581654862-3339394753445050
OPM %32%41%36%60%34%-17%56%54%58%59%56%59%56%
Other Income +1436212919147171929113161718
Interest0002000000000
Depreciation5650762322233
Profit before tax64111817575107535533664586565
Tax %26%31%37%26%33%55%26%25%25%-19%27%26%22%
Net Profit +477751555048394125176424851
EPS in Rs6.6810.937.197.867.106.885.585.8935.6310.736.016.757.30

Financials of MSTC Ltd

Profit & Loss

Annual income statement trend

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales +5,4545,6893,2251,7392,2653,2921,231780876721316311340
Expenses +5,2765,5253,3861,6032,5783,4981,083831867528234133143
Operating Profit178164-161136-313-206148-51919382178196
OPM %3%3%-5%8%-14%-6%12%-7%1%27%26%57%58%
Other Income +-1149083137528486521424715820334065
Interest1459310478856530830000
Depreciation15812121215171921227910
Profit before tax-95152-194183117-237167136233329278508251
Tax %-35%32%27%24%34%29%42%17%15%26%41%20%
Net Profit +-62103-24713977-30797113199242165407217
EPS in Rs-70.48117.51-280.8079.0621.94-43.6213.7816.0528.2834.3723.4457.8230.79
Dividend Payout %0%18%-7%25%34%-17%0%27%46%44%66%70%

Financials of MSTC Ltd

Balance Sheet

Capital structure and asset base

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital99918357070707070707070
Reserves749829306388696318404488584716577668760
Borrowings +8731,106653688766615259154150145145145145
Other Liabilities +3,8114,0823,1943,5053,6071,8261,4691,5361,2111,7581,0301,2351,038
Total Liabilities5,4416,0264,1624,6005,1042,8292,2012,2492,0152,6901,8222,1182,013
Fixed Assets +68736266698396891421416865207
CWIP22421023295200000
Investments000391411142119281213
Other Assets +5,3715,9514,0964,5295,0152,7082,0652,0931,8532,5291,7252,0421,794
Total Assets5,4416,0264,1624,6005,1042,8292,2012,2492,0152,6901,8222,1182,013

Financials of MSTC Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity +-35-150116-51921101222681170844-283260
Cash from Investing Activity +867268377846025511-72-551-272165
Cash from Financing Activity +-184233-47612-94-217-233-107-98-119-96-289
Net Cash Flow-134154-292-13011-562455850175-651136
Free Cash Flow-48-165112-534-367187647148811-390236
CFO/OP25%-41%-100%-342%-22%-73%173%-1,379%2,309%469%-270%185%

Financials of MSTC Ltd

Ratios

Working capital efficiency and return ratios

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days257266292726642207434416228235366363
Inventory Days311322114101235
Days Payable236213291761598134388722356903
Cash Conversion Cycle24643-13457450-295-116-634366363
Working Capital Days1624-50-105-35-47-38-304-249-599-894-1,154
ROCE %14%-6%25%16%-14%23%20%31%38%32%29%

Guidance history

How MSTC Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%Flat———
Q4 FY26 call →10–20%FlatPlanned——
Q3 FY26 call →10–20%FlatPlanned——
Q2 FY26 call →10–20%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

34out of 100

Momentum score · price trend

34 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+4.3%64%
Last 6 months+32.0%81%
Last 3 months−5.4%52%

The price is 44.6% below its all-time high of ₹1,031.9 (20 Jan 2024). Stocks more than 20% below their peak have their score halved, so 68 became 34.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For MSTC Ltd: 0.4 × 64 + 0.4 × 81 + 0.2 × 52 = 68, halved to 34 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What MSTC Ltd's management said in earlier quarters

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