MSTC Ltd. (MSTCLTD) AI Stock Analysis

• Market Cap: ₹38.66B
• Dividend Yield: 8.49%
• Average Volume (3M): 26.77K
• Price to Earnings (P/E): 9.1
• Beta (1Y): 2.15
• Revenue Growth: -58.05%
• EPS Growth: 97.11%
• Country: IN
• Employees: 290
• Sector: Services
• Sector Strength: N/A
• Industry: Conglomerates
• EPS (TTM): 6.01
• Shares Outstanding: 70,400,000
• 10 Day Avg. Volume: 43,402
• 30 Day Avg. Volume: 26,774
• PEG Ratio: 0.06
• Price to Book (P/B): 4.93
• Price to Sales (P/S): 11.71
• P/FCF Ratio: 15.45
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 77 Outperform
• Price Target: ₹613.00 ▲(14.75% Upside)

MSTC Ltd. receives a strong overall score driven by its attractive valuation and positive technical indicators. The low P/E ratio and high dividend yield highlight its investment appeal. While financial performance is solid, the significant revenue decline is a concern. The absence of earnings call and corporate events data does not impact the score.

MSTC Ltd. Business Overview & Revenue Model

Company Description

MSTC Ltd. is a leading public sector company in India, primarily engaged in the areas of e-commerce and auctioning services for the trading of various goods, including metals, minerals, and scrap materials. The company operates in diverse sectors such as steel, coal, and other commodities, providing a platform for buyers and sellers to transact efficiently. MSTC also offers additional services like logistics and warehousing, catering to both government and private enterprises.

How the Company Makes Money

MSTC Ltd. generates revenue primarily through its auctioning services, where it earns commissions from the sale of goods and materials on its platform. The company facilitates transactions for a wide range of commodities, including iron, steel, and non-ferrous metals, which are auctioned to the highest bidders. Key revenue streams include transaction fees, service charges for e-commerce services, and commissions from buyers and sellers. Additionally, MSTC has formed strategic partnerships with various public and private sector organizations, enhancing its market reach and operational capabilities, which further contribute to its earnings. The diversification of its services, including logistics and warehousing, also plays a crucial role in bolstering its revenue model.

MSTC Ltd. Financial Statement Overview

Summary

MSTC Ltd. demonstrates strong profitability with a robust net profit margin and impressive EBITDA margin, indicating efficient cost management. However, the significant revenue decline poses a risk to future earnings stability. The balance sheet shows conservative leverage and strong return on equity, but asset reduction suggests potential challenges. Cash flow improvements enhance liquidity, though past volatility raises concerns about consistency.

Income Statement

MSTC Ltd. exhibits strong profitability with a robust net profit margin of 130.91% in the latest year, albeit with a notable decline in total revenue of 58.6% from the previous year. The gross profit margin remains healthy at 100%, indicating efficient production cost management. EBITDA margin is impressive at 166.35%, reflecting strong operational performance. However, the significant revenue drop could pose a risk to future earnings stability.

Balance Sheet

The balance sheet presents a sound financial position with a low debt-to-equity ratio of 0.20, indicating conservative leverage. The equity ratio stands at a solid 34.85%, showcasing good asset financing through equity. Return on equity is exceptional at 55.12%, demonstrating strong profitability relative to shareholder contributions. However, the reduction in total assets over the year suggests potential challenges in asset management or strategic downsizing.

Cash Flow

Cash flow analysis reveals substantial improvement in free cash flow, which turned positive with a growth rate of 153.05% year-over-year. The operating cash flow to net income ratio is 0.64, indicating efficient cash conversion from net income. Despite these strengths, previous years showed volatility in operating cash flows, which may raise concerns about cash flow consistency in future periods.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.19B	3.11B	3.16B	7.21B	8.76B	7.80B
Gross Profit	2.83B	3.01B	2.19B	3.01B	2.83B	5.51B
EBITDA	5.23B	2.60B	3.65B	3.54B	2.56B	1.63B
Net Income	4.25B	4.07B	2.04B	2.42B	1.99B	1.13B
Balance Sheet
Total Assets	0.00	21.18B	22.49B	26.89B	20.14B	22.48B
Cash, Cash Equivalents and Short-Term Investments	13.59B	14.11B	10.30B	9.21B	7.46B	7.46B
Total Debt	0.00	1.45B	1.45B	1.45B	1.50B	1.54B
Total Liabilities	-7.38B	13.80B	13.61B	19.04B	13.62B	16.90B
Stockholders Equity	7.38B	7.38B	8.89B	7.87B	6.54B	5.58B
Cash Flow
Free Cash Flow	0.00	2.36B	-4.44B	8.10B	957.20M	6.45B
Operating Cash Flow	0.00	2.60B	-3.12B	8.44B	1.70B	6.81B
Investing Cash Flow	0.00	1.65B	-2.44B	-5.51B	-715.71M	112.36M
Financing Cash Flow	0.00	-2.89B	-964.48M	-1.19B	-983.20M	-1.07B

MSTC Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 534.20
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MSTCLTD, the sentiment is Neutral. The current price of 534.2 is below the 20-day moving average (MA) of 539.69, above the 50-day MA of 518.89, and above the 200-day MA of 516.81, indicating a neutral trend. The MACD of 6.54 indicates Positive momentum. The RSI at 51.17 is Neutral, neither overbought nor oversold. The STOCH value of 33.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:MSTCLTD.

MSTC Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MSTCLTD	77 Outperform	₹38.66B	9.09	―	8.49%	-58.05%	97.11%
VRLLOG	73 Outperform	₹47.42B	20.30	―	2.75%	4.74%	176.63%
PSPPROJECT	71 Outperform	₹37.94B	135.00	―	―	-2.24%	-70.79%
BALMLAWRIE	67 Neutral	₹34.42B	12.70	―	4.37%	7.25%	1.12%
ALLCARGO	64 Neutral	₹34.68B	―	―	5.95%	17.82%	-314.42%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%

MSTC Ltd. Corporate Events

MSTC Ltd. Transitions to New Share Transfer Agent

MSTC Ltd. has announced the signing of a tripartite agreement with its existing and new share transfer agents, Alankit Assignments Ltd. and Bigshare Services Pvt. Ltd., respectively. This agreement, effective from August 20, 2025, marks a strategic transition in the company’s share transfer operations, potentially enhancing efficiency and stakeholder engagement.

MSTC Ltd. to Transfer Unclaimed Dividends and Shares to IEPF

MSTC Ltd. has announced the transfer of unclaimed dividend amounts and equity shares to the Investor Education and Protection Fund (IEPF) as per the Companies Act, 2013. Shareholders are advised to claim their dividends by November 1, 2025, to prevent their transfer to the IEPF. This move is in compliance with regulations and impacts shareholders who have not claimed dividends for seven consecutive years. The company has provided details on its website for shareholders to check unclaimed amounts and initiate claims if necessary.