MSTCLTD
Mstc Limited
E-auction and e-procurement services for government and industrial clients
Services›Services›Commercial Services & Supplies›Trading & Distributors
mstcindia.co.in(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹646.60
Market cap
4,552 Cr
Stock P/E
19.4
P/B
5.04
Dividend yield
1.2%
ROE (FY26)
24.2%
ROCE (FY26)
27.9%
Operating margin (FY26)
57.8%
Debt / equity (FY26)
0.16
OCF / EBITDA (FY26)
-12.4%
OCF / EBITDA (3Y)
-14.0%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
MSTC is a Government of India company that runs e-auction platforms, selling scrap, coal and mineral blocks and other assets on behalf of government departments, public-sector companies and private clients.
Company snapshot
3rdBy market cap
Ranked among 23 companies in Trading & Distributors.
Segment mix
Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.
Largest segment: 115.8% of revenue
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| E-Commerce | 115.8% | 257 Cr | 255 Cr | — |
| Marketing | 6.9% | 15 Cr | 15 Cr | — |
| Others(unallocated) | 1.3% | 3 Cr | 175 Cr | — |
Shares add up to 124% because segment revenues are before inter-segment eliminations.
What we see
Positives
- ✓Net margin of 59.1% — the business keeps a healthy share of every rupee it earns.
Concerns
- ✗Over the last three years operations used more cash than they brought in, despite an operating profit — the business is not yet turning its profit into cash.
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Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 188 Cr | 185 Cr | 199 Cr | 189 Cr | 72 Cr | 81 Cr | 89 Cr | 77 Cr | 85 Cr | 88 Cr | 119 Cr | 94 Cr |
| Operating expenses (approx.) | 126 Cr | 120 Cr | 231 Cr | 119 Cr | 32 Cr | 32 Cr | 34 Cr | 32 Cr | 33 Cr | 37 Cr | 43 Cr | 37 Cr |
| EBITDA | 62 Cr | 65 Cr | -32 Cr | 71 Cr | 40 Cr | 49 Cr | 54 Cr | 46 Cr | 52 Cr | 51 Cr | 76 Cr | 58 Cr |
| OPM % | 33.1% | 34.9% | -16.2% | 37.4% | 56.1% | 60.1% | 61.3% | 59.0% | 60.6% | 57.6% | 63.9% | 61.3% |
| Other income | 23 Cr | 19 Cr | 147 Cr | 19 Cr | 21 Cr | 15 Cr | 23 Cr | 16 Cr | 17 Cr | 18 Cr | 32 Cr | 24 Cr |
| Interest | 0 Cr | 0 Cr | 0.41 Cr | 0.09 Cr | 0.09 Cr | 0.0029 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr |
| Depreciation | 5 Cr | 7 Cr | 6 Cr | 7 Cr | 3 Cr | 2 Cr | 2 Cr | 2 Cr | 3 Cr | 3 Cr | 3 Cr | 3 Cr |
| Profit before tax | 78 Cr | 75 Cr | 107 Cr | 82 Cr | 76 Cr | 336 Cr | 64 Cr | 58 Cr | 65 Cr | 65 Cr | 105 Cr | 79 Cr |
| Tax % | 29.1% | 33.2% | 54.6% | 24.5% | 25.3% | 25.3% | -18.9% | 26.6% | 26.4% | 21.5% | 26.3% | 26.0% |
| Net profit | 55 Cr | 50 Cr | 48 Cr | 62 Cr | 56 Cr | 251 Cr | 76 Cr | 42 Cr | 47 Cr | 51 Cr | 77 Cr | 58 Cr |
| EPS (₹) | ₹7.86 | ₹7.10 | ₹6.88 | ₹8.79 | ₹8.01 | ₹35.63 | ₹10.73 | ₹6.01 | ₹6.75 | ₹7.30 | ₹10.97 | ₹8.27 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,739 Cr | 2,265 Cr | 3,292 Cr | 1,231 Cr | 780 Cr | 876 Cr | 721 Cr | 751 Cr | 311 Cr | 370 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 1,613 Cr | 2,679 Cr | 3,502 Cr | 1,081 Cr | 832 Cr | 867 Cr | 525 Cr | 590 Cr | 127 Cr | 146 Cr | Sign in free for the trailing twelve months |
| EBITDA | 126 Cr | -413 Cr | -210 Cr | 150 Cr | -51 Cr | 9 Cr | 196 Cr | 161 Cr | 183 Cr | 224 Cr | Sign in free for the trailing twelve months |
| OPM % | 7.3% | -18.2% | -6.4% | 12.2% | -6.5% | 1.0% | 27.1% | 21.5% | 59.0% | 60.6% | Sign in free for the trailing twelve months |
| Other income | 137 Cr | 528 Cr | 48 Cr | 65 Cr | 214 Cr | 247 Cr | 158 Cr | 211 Cr | 77 Cr | 83 Cr | Sign in free for the trailing twelve months |
| Interest | 68 Cr | 67 Cr | 58 Cr | 29 Cr | 7 Cr | 3 Cr | 0.09 Cr | 0.41 Cr | 0.18 Cr | 0 Cr | Sign in free for the trailing twelve months |
| Depreciation | 12 Cr | 12 Cr | 15 Cr | 17 Cr | 19 Cr | 21 Cr | 22 Cr | 24 Cr | 9 Cr | 10 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 183 Cr | 33 Cr | -237 Cr | 167 Cr | 136 Cr | 233 Cr | 329 Cr | 340 Cr | 508 Cr | 292 Cr | Sign in free for the trailing twelve months |
| Tax % | 23.9% | 119.4% | -29.3% | 41.8% | 16.9% | 14.5% | 26.5% | 39.9% | 19.9% | 25.3% | Sign in free for the trailing twelve months |
| Net profit | 139 Cr | -6 Cr | -307 Cr | 97 Cr | 113 Cr | 199 Cr | 242 Cr | 204 Cr | 407 Cr | 218 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹19.77 | ₹-0.92 | ₹-43.62 | ₹13.78 | ₹16.05 | ₹28.29 | ₹34.37 | ₹29.03 | ₹57.82 | ₹31.03 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | 20.6% | 45.6% | 47.1% | 47.2% | 70.9% | 24.5% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 18 Cr | 35 Cr | 70 Cr | 70 Cr | 70 Cr | 70 Cr | 70 Cr | 70 Cr | 70 Cr | 70 Cr |
| Reserves | 388 Cr | 331 Cr | 318 Cr | 404 Cr | 488 Cr | 584 Cr | 716 Cr | 819 Cr | 668 Cr | 834 Cr |
| Borrowings | 688 Cr | 766 Cr | 615 Cr | 259 Cr | 154 Cr | 150 Cr | 145 Cr | 145 Cr | 145 Cr | 145 Cr |
| Other liabilities | 3,505 Cr | 3,606 Cr | 1,825 Cr | 1,469 Cr | 1,535 Cr | 1,209 Cr | 1,757 Cr | 1,215 Cr | 1,235 Cr | 962 Cr |
| Total liabilities | 4,600 Cr | 4,738 Cr | 2,828 Cr | 2,201 Cr | 2,248 Cr | 2,012 Cr | 2,688 Cr | 2,249 Cr | 2,118 Cr | 2,011 Cr |
| Fixed assets (net) | 64 Cr | 68 Cr | 75 Cr | 88 Cr | 89 Cr | 132 Cr | 133 Cr | 137 Cr | 53 Cr | 194 Cr |
| CWIP | 2 Cr | 10 Cr | 23 Cr | 29 Cr | 52 Cr | 0 Cr | 0.08 Cr | 0 Cr | 0 Cr | 0 Cr |
| Investments | 3 Cr | 9 Cr | 14 Cr | 18 Cr | 14 Cr | 21 Cr | 19 Cr | 12 Cr | 12 Cr | 12 Cr |
| Inventories | 74 Cr | 4 Cr | 6 Cr | 7 Cr | 5 Cr | 6 Cr | 5 Cr | 5 Cr | 0 Cr | 0 Cr |
| Trade receivables | 3,460 Cr | 3,617 Cr | 1,870 Cr | 1,463 Cr | 890 Cr | 548 Cr | 463 Cr | 519 Cr | 310 Cr | 227 Cr |
| Cash & bank | 90 Cr | 176 Cr | 96 Cr | 61 Cr | 746 Cr | 746 Cr | 921 Cr | 268 Cr | 378 Cr | 554 Cr |
| Other assets | 906 Cr | 854 Cr | 744 Cr | 536 Cr | 452 Cr | 560 Cr | 1,147 Cr | 1,307 Cr | 1,366 Cr | 1,024 Cr |
| Total assets | 4,600 Cr | 4,738 Cr | 2,828 Cr | 2,201 Cr | 2,248 Cr | 2,012 Cr | 2,688 Cr | 2,249 Cr | 2,118 Cr | 2,011 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | -519 Cr | 95 Cr | 101 Cr | 222 Cr | 681 Cr | 168 Cr | 886 Cr | -312 Cr | 260 Cr | -28 Cr |
| Cash from investing | 377 Cr | 11 Cr | 60 Cr | 128 Cr | 11 Cr | -70 Cr | -593 Cr | -244 Cr | 165 Cr | 257 Cr |
| Cash from financing | 12 Cr | -94 Cr | -217 Cr | -233 Cr | -107 Cr | -98 Cr | -119 Cr | -96 Cr | -289 Cr | -54 Cr |
| Net cash flow | -130 Cr | 11 Cr | -56 Cr | 117 Cr | 585 Cr | 0.23 Cr | 175 Cr | -653 Cr | 136 Cr | 176 Cr |
| Free cash flow (OCF − Capex) | -534 Cr | 71 Cr | 62 Cr | 183 Cr | 645 Cr | 96 Cr | 865 Cr | -444 Cr | 236 Cr | -50 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 22.9% | 8.9% | -17.9% | 26.7% | 20.1% | 29.3% | 35.3% | 32.9% | 57.5% | 27.9% |
| ROE % | 34.3% | -1.8% | -79.2% | 20.5% | 20.2% | 30.4% | 30.8% | 23.0% | 55.1% | 24.2% |
| Debtor days | 724 | 581 | 207 | 434 | 415 | 228 | 234 | 252 | 362 | 223 |
| Inventory days | 16 | 1 | 1 | 2 | 2 | 2 | 3 | 3 | 0 | 0 |
| Days payable | 536 | 418 | 105 | 194 | 201 | 86 | 98 | 81 | 144 | 124 |
| Cash conversion cycle | 204 | 163 | 102 | 242 | 216 | 144 | 138 | 174 | 218 | 99 |
| OCF / EBITDA % | -411.6% | — | — | 148.0% | — | n.m. | 453.3% | -193.8% | 141.9% | -12.4% |
| OCF / EBITDA % (3 years) | — | — | — | — | — | 992.4% | 1131.8% | 203.2% | 154.5% | -14.0% |
| Debt / equity | 1.70 | 2.09 | 1.58 | 0.55 | 0.28 | 0.23 | 0.18 | 0.16 | 0.20 | 0.16 |
| Current ratio | 1.00 | 0.99 | 1.00 | 1.06 | 1.07 | 1.18 | 1.24 | 1.39 | 1.28 | 1.49 |
| Net debt / EBITDA | 4.74 | — | — | 1.32 | — | -67.22 | -3.97 | -0.76 | -1.27 | -1.82 |