MarketFriction

MSTC Ltd

NSE MSTCLTD · BSE 542597 · Trading & Distributors
₹705.80 -1.25%
NSE close2026-10-01
52 week range362.15 - 805.00
Market cap₹5,028 Cr.
P/E21.5
IPO 2019 · +488% since Microcap 250 Price band 10% Delivery 44.7%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales811851996972818977858811994
Expenses33123232303334363435394337
Operating Profit4862-33393947534450507658
OPM %60%34%-17%56%54%58%59%56%59%56%64%61%
Other Income29191471719291131617183224
Interest200000000000
Depreciation076232223333
Profit before tax757510753553366458656510579
Tax %26%33%55%26%25%25%-19%27%26%22%26%26%
Net Profit5550483941251764248517758
EPS in Rs7.867.106.885.585.8935.6310.736.016.757.3010.978.27
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales3,2251,7392,2653,2921,231780876721316311370386
Expenses3,3861,6032,5783,4981,083831867528234133150153
Operating Profit-161136-313-206148-51919382178220233
OPM %-5.0%8%-14%-6%12%-7%1.0%27%26%57%59%60%
Other Income8313752848652142471582033408391
Interest104788565308300000
Depreciation1212121517192122791011
Profit before tax-194183117-237167136233329278508292313
Tax %27%24%34%29%42%17%15%26%41%20%25%
Net Profit-24713977-30797113199242165407218234
EPS in Rs-280.8079.0621.94-43.6213.7816.0528.2834.3723.4457.8231.0333.29
Dividend Payout %-7%25%34%-17%0%27%46%44%66%70%51%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth-19%-14%-20%21%
Compounded Profit Growth11%14%-3%8%
Stock Price CAGR%18%18%51%
Return on Equity17%26%21%27%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital9918357070707070707070
Reserves829306388696318404488584716577668834
Borrowings1,106653688766615259154150145145145145
Other Liabilities4,0823,1943,5053,6071,8261,4691,5361,2111,7581,0301,235962
Total Liabilities6,0264,1624,6005,1042,8292,2012,2492,0152,6901,8222,1182,011
Fixed Assets736266698396891421416865206
CWIP2421023295200000
Investments00391411142119281212
Other Assets5,9514,0964,5295,0152,7082,0652,0931,8532,5291,7252,0421,792
Total Assets6,0264,1624,6005,1042,8292,2012,2492,0152,6901,8222,1182,011
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-150116-51921101222681170844-283260-28
Cash from Investing Activity7268377846025511-72-551-272165257
Cash from Financing Activity233-47612-94-217-233-107-98-119-96-289-54
Net Cash Flow154-292-13011-562455850175-651136176
Free Cash Flow-165112-534-367187647148811-390236-50
CFO/OP-41%-100%-342%-22%-73%173%-1,379%2,309%469%-270%185%7%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days266292726642207434416228235366363224
Inventory Days11322114101235
Days Payable213291761598134388722356903
Cash Conversion Cycle643-13457450-295-116-634366363224
Working Capital Days24-50-105-35-47-38-304-249-599-894-1,154-789
ROCE %14%-6%25%16%-14%23%20%31%38%32%29%30%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters64.75%64.75%64.75%64.75%64.75%64.75%64.75%64.75%64.75%64.75%64.75%64.75%
FIIs3.59%3.33%5.64%5.76%6.21%6.18%5.47%5.37%4.06%3.80%3.93%4.91%
DIIs1.43%1.35%1.19%1.94%1.63%1.68%1.68%1.34%1.22%1.22%1.20%1.29%
Public30.24%30.58%28.41%27.55%27.40%27.39%28.10%28.54%29.98%30.22%30.11%29.06%
No. of Shareholders49,41156,75369,53468,97176,70277,26783,04784,42285,90492,04792,58187,424

Fundamentals

Market Cap₹ 5,028 Cr.
Current Price₹ 713
Stock P/E21.5
Book Value₹ 128
ROCE30.3 %
ROE26.6 %
Dividend Yield2.20 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)21%
Compounded Profit Growth (TTM)8%
Consolidated figures.
Valuation
Market capRs 4,969 Cr
Enterprise valueRs 3,786 Cr
P/E (TTM)21.21x
Price to book5.50x
Price to sales12.86x
EV / EBITDA11.66x
EV / EBIT12.07x
EV / sales9.80x
Earnings yield4.72%
Dividend yield2.22%
P/E, 3-year average18.70x
P/B, 3-year average5.59x
P/E, 5-year average14.85x
P/B, 5-year average4.46x
Profitability
Operating margin (excl. other income)59.40%
Operating margin (incl. other income)81.96%
EBITDA margin84.00%
Pre-tax margin81.09%
Net profit margin60.63%
Net margin, latest quarter61.78%
ROE26.60%
ROCE30.28%
ROA10.58%
ROE, 3-year average36.13%
ROCE, 3-year average41.08%
ROA, 3-year average12.85%
ROE, 5-year average34.97%
ROCE, 5-year average38.46%
ROA, 5-year average11.64%
Tax rate25.30%
Other income / net worth9.22%
Growth
Sales growth (latest year)18.88%
Profit growth (latest year)-46.34%
Sales CAGR, 3 years-19.96%
Sales CAGR, 5 years-13.87%
Profit CAGR, 3 years-3.35%
Profit CAGR, 5 years14.10%
Sales growth QoQ-20.67%
Profit growth QoQ-24.61%
Sales growth YoY (latest quarter)21.71%
Profit growth YoY (latest quarter)37.51%
Per share
EPS (TTM)Rs 33.28
EPS (latest year)Rs 31.03
EPS (latest quarter)Rs 8.27
EPS, 3-year averageRs 37.43
EPS, 5-year averageRs 34.99
Book value per shareRs 128.40
Sales per shareRs 54.90
Cash flow per shareRs -3.95
Free cash flow per shareRs -7.10
Dividend per share (latest year)Rs 15.70
Dividend per share, 3-year averageRs 23.90
Dividend per share, 5-year averageRs 19.92
Dividends
Dividend payout50.60%
Dividend payout, 3-year average62.25%
Dividend payout, 5-year average55.20%
Efficiency
Asset turnover0.18x
Fixed asset turnover1.80x
Debtor days224 days
Debtors turnover1.63x
Creditor days903 days
Cash conversion cycle224 days
Working capital days-789 days
Leverage
Total debtRs 145 Cr
Cash and bankRs 1,328 Cr
Net debtRs -1,183 Cr
Debt to equity0.16x
Net debt / EBITDA-3.64x
Interest coverage1959.75x
Current ratio (filing 2026-03-31)1.49x
Quick ratio (filing 2026-03-31)1.49x
Trade payables (filing 2026-03-31)Rs 126 Cr
Owners' fund to total sources44.96%
Debt to assets7.21%
Cash flow
Cash from Operating Activity (latest year)Rs -28 Cr
Cash from Investing Activity (latest year)Rs 257 Cr
Cash from Financing Activity (latest year)Rs -54 Cr
Net Cash Flow (latest year)Rs 176 Cr
Free cash flow (latest year)Rs -50 Cr
FCFE (approx.: FCF + change in debt)Rs -50 Cr
Cash from ops / profit, 5 years0.78x
Statement figures
Net sales (TTM)Rs 386 Cr
Net sales (latest year)Rs 370 Cr
Sales (latest quarter)Rs 94 Cr
Operating profit excl. other income (latest year)Rs 220 Cr
Operating profit (latest quarter)Rs 58 Cr
Other income (TTM)Rs 91 Cr
EBITDA (TTM)Rs 325 Cr
PBDT (TTM)Rs 324 Cr
Profit before tax (TTM)Rs 313 Cr
Tax (latest year)Rs 74 Cr
Net profit (TTM)Rs 234 Cr
Net profit (latest year)Rs 218 Cr
Net profit (latest quarter)Rs 58 Cr
Depreciation (TTM)Rs 11 Cr
Depreciation (latest quarter)Rs 3 Cr
Interest (TTM)Rs 0 Cr
Cost of goods sold (latest year)Rs 18 Cr
Total expenditure (latest year)Rs 150 Cr
Total income (latest year)Rs 453 Cr
Share capitalRs 70 Cr
ReservesRs 834 Cr
Shareholders' fundsRs 904 Cr
Total assetsRs 2,011 Cr
Net blockRs 206 Cr
Capital work in progressRs 0 Cr
InvestmentsRs 12 Cr
ReceivablesRs 227 Cr
Other liabilitiesRs 962 Cr
Shares outstanding (crore)7.04
Ownership
Promoter holding64.75% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 21.2 is at the 75th percentile of its own 6.7-year range (median 12.8, low 7.8, high 39.8).
P/B 5.50 is at the 77th percentile (median 3.86).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodMSTCLTDNifty 50Difference
1 week-4.4%-2.8% -1.6 pts
1 month-3.3%-6.8% +3.5 pts
3 months-1.4%-7.6% +6.2 pts
6 months+92.9%+0.4% +92.5 pts
1 year+40.8%-9.9% +50.7 pts
2 years-1.3%-13.6% +12.2 pts
3 years+63.8%+14.2% +49.6 pts
5 years+124.4%+27.9% +96.5 pts
6 mutual fund schemes hold about ₹5 Cr. Over three months 0 bought more and 0 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Motilal Oswal Nifty Microcap 250 Index Fund0.19%5 +0%
Groww Nifty Total Market Index Fund0.01%0 +1%
Angel One Nifty Total Market Index Fund0.01%0 +1%
Motilal Oswal BSE 1000 Index Fund0.01%0 +1%
Mirae Asset Nifty Total Market Index Fund0.01%0 +1%
Bandhan Nifty Total Market Index Fund0.01%0 +1%

Red flags

F-score 4 of 8
explainWeak cash conversion Cash from operations was -6% of net profit over the last 3 years
explainHigh accruals Profit exceeded operating cash by 12% of total assets in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹94 Cr +22.1% vs Jun 2025. Net profit ₹58 Cr +38.1%.

Activity

Compare
CompanyMcap (Cr)P/EROCE
Redington Ltd31,69717.618.4 %
MMTC Ltd8,51442.38.67 %
BN Agrochem Ltd1,8981114.44 %
Creative Newtech Ltd1,64622.318.8 %
Pervasive Commodities Ltd1,04922.1 %
RRP Defense Ltd843-11.1 %
Yamuna Syndicate Ltd7848.564.17 %
Shiv Aum Steels Ltd74277.98.20 %
State Trading Corporation of India Ltd64413.3%
Arvaya Healthcare Ltd600451%
SMT Engineering Ltd59624.325.4 %
HP Telecom India Ltd52820.719.9 %
Riddhi Siddhi Gluco Biols Ltd52737.22.74 %
Oswal Agro Mills Ltd4742.03 %
Filtron Engineers Ltd45779.49.87 %
No bulk or block deals on record.
Ex-dateActionFactor
2026-09-17Dividend - Rs 8.10 Per Share
2026-02-18Interim Dividend - Rs 7.60 Per Share
2025-04-02Interim Dividend - Rs 4.50 Per Share
2025-02-14Interim Dividend - Rs 32 Per Share
2024-11-22Interim Dividend - Rs 4 Per Share
2024-09-10Annual General Meeting/Dividend - Rs 5 Per Share
2024-02-20Interim Dividend - Rs 5 Per Share
2023-11-16Interim Dividend - Rs 5.50 Per Share
2023-09-12Annual General Meeting/Dividend - Rs 3.20 Per Share
2023-02-22Interim Dividend - Rs 6.30 Per Share
2022-11-18Interim Dividend - Rs 5.50 Per Share
2022-09-15Annual General Meeting/Dividend - Rs 4.40 Per Share
2022-02-22Interim Dividend - Rs 6.50 Per Share
2021-11-22 Interim Dividend - Rs 2 Per Share
2021-09-17 Annual General Meeting/Dividend - Rs 4.40 Per Share
2020-09-16 Annual General Meeting/Dividend - Rs 3.30 Per Share
2019-09-16 Annual General Meeting
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-03-09NCLATConcast Steel & Power Ltd (In Liquidation) VS MSTC Ltd
2021-02-26NCLATConcast Steel & Power Ltd (In Liquidation) VS MSTC Ltd
2020-11-26NCLATMSTC Ltd VS Supriyo Kumar Chaudhuri and Ors
2020-11-12NCLATConcast Steel & Power Ltd (In Liquidation) VS MSTC Ltd
2020-11-06NCLATConcast Steel & Power Ltd (In Liquidation) VS MSTC Ltd
2020-11-03NCLATConcast Steel & Power Ltd (In Liquidation) VS MSTC Ltd
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Close to Close price movement greater than 75perc in previous 6 monthsHigh low price variation greater than 100perc in previous 6 months

Quick answers

What is the market cap of MSTC Ltd?

MSTC Ltd (MSTCLTD) has a market capitalisation of Rs 5,028 Cr. at the 2026-10-01 close.

What is the P/E ratio of MSTC Ltd?

MSTC Ltd trades at a P/E of 21.5 on trailing twelve-month profit, at the 2026-10-01 close.

What were MSTC Ltd's latest quarterly results?

In the Jun 2026 quarter, MSTC Ltd sales was Rs 94 Cr (+22.1% vs Jun 2025) and net profit was Rs 58 Cr.

What is the 52-week high and low of MSTC Ltd?

The 52-week high is Rs 805.00 and the 52-week low is Rs 362.15.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03