MSTC Ltd

MSTC Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

MSTC Ltd

₹ 840 -0.11%
22 Jul 4:01 p.m.
mstcindia.co.in BSE: 542597 NSE: MSTCLTD
About

MSTC (Metal Scrap Trade Corporation) Ltd undertakes trading activities, e-commerce and also disposal of ferrous and non-ferrous scrap, surplus stores, minerals, agri and forest products, etc.[1] The company is owned and controlled by the Government of India.

Key Points

Trading/ Marketing Business (~37% of revenues in FY22) [1]
The company acts as a facilitator for procurement of raw material for secondary steel producers and petrochemical industry on behalf of buyers and charges mark-up on a percentage basis.
The business is involved in import as well as domestic sourcing of bulk industrial raw material for actual users as well as traders. It sources raw materials like heavy melting scrap, low ash metallurgical coke, HR coil, Naptha, crude oil, coking coal, etc. [2]

Website BSE NSE
  • Market Cap ₹ 5,892 Cr.
  • Current Price ₹ 840
  • High / Low ₹ 1,165 / 371
  • Stock P/E 34.3
  • Book Value ₹ 94.4
  • Dividend Yield 1.79 %
  • ROCE 36.8 %
  • ROE 27.3 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 20.4% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 39.0%
  • Company has been maintaining a healthy dividend payout of 44.2%

Cons

  • Stock is trading at 8.89 times its book value
  • The company has delivered a poor sales growth of -35.9% over past five years.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.203 Cr.
  • Company has high debtors of 366 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: E-Commerce/App based Aggregator Industry: Trading

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
197 168 126 86 91 83 80 70 91 82 81 71 82
345 132 93 36 261 26 103 27 22 28 31 36 133
Operating Profit -148 36 33 49 -170 57 -23 43 69 54 51 35 -51
OPM % -75% 21% 26% 58% -187% 69% -29% 62% 76% 66% 62% 50% -62%
197 3 15 11 249 10 103 20 40 18 40 24 121
Interest 1 2 1 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 1 1 2 2 2 2 2 2 2 2 2
Profit before tax 48 37 46 59 78 66 79 62 107 71 88 58 68
Tax % -40% 43% 32% 39% -44% 34% 9% 22% 29% 37% 23% 32% 71%
67 21 31 36 111 44 71 48 76 45 69 39 20
EPS in Rs 9.45 3.01 4.46 5.14 15.82 6.23 10.15 6.80 10.80 6.33 9.73 5.59 2.77
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
6,366 5,230 5,425 2,892 1,429 1,946 2,927 831 428 471 325 316
6,109 5,075 5,284 2,769 1,322 2,261 3,172 732 514 522 178 227
Operating Profit 257 155 141 122 107 -315 -245 98 -87 -51 147 89
OPM % 4% 3% 3% 4% 7% -16% -8% 12% -20% -11% 45% 28%
89 -127 82 76 69 513 42 62 211 279 173 203
Interest 150 134 92 103 78 85 64 28 8 3 0 0
Depreciation 2 2 -1 4 1 1 1 2 2 5 6 7
Profit before tax 193 -107 131 91 97 112 -269 129 115 220 313 284
Tax % 32% -35% 31% 34% 32% 31% 21% 42% 12% 9% 24% 40%
131 -70 91 60 65 77 -324 75 101 200 239 172
EPS in Rs 148.56 -79.58 103.40 68.05 37.18 21.77 -46.09 10.68 14.36 28.42 33.98 24.42
Dividend Payout % 20% 0% 20% 30% 53% 34% 0% 0% 31% 45% 44% 43%
Compounded Sales Growth
10 Years: -24%
5 Years: -36%
3 Years: -10%
TTM: -3%
Compounded Profit Growth
10 Years: 1%
5 Years: 20%
3 Years: 19%
TTM: -28%
Stock Price CAGR
10 Years: %
5 Years: 56%
3 Years: 41%
1 Year: 107%
Return on Equity
10 Years: 15%
5 Years: 37%
3 Years: 39%
Last Year: 27%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 9 9 9 9 18 35 70 70 70 70 70 70
Reserves 687 617 685 724 499 528 138 209 285 395 524 594
1,018 862 1,086 628 688 762 605 232 154 150 145 145
4,219 3,728 3,960 3,046 3,354 3,435 1,662 1,272 1,340 999 1,538 1,030
Total Liabilities 5,932 5,216 5,740 4,407 4,559 4,760 2,475 1,784 1,850 1,614 2,277 1,840
17 15 16 4 5 4 13 16 14 69 66 68
CWIP 0 1 0 0 0 6 20 29 50 0 0 0
Investments 16 16 16 16 19 26 34 34 38 44 46 46
5,899 5,184 5,708 4,387 4,535 4,723 2,407 1,704 1,747 1,500 2,165 1,725
Total Assets 5,932 5,216 5,740 4,407 4,559 4,760 2,475 1,784 1,850 1,614 2,277 1,840

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-81 -164 110 -490 70 60 233 665 71 768 -283
88 81 77 305 57 104 231 -10 25 -462 -272
-186 224 -480 15 -98 -210 -231 -107 -98 -119 -96
Net Cash Flow -179 141 -292 -171 29 -46 234 548 -2 187 -651

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 258 267 273 398 925 721 214 542 618 316 375 366
Inventory Days 4 3 10 2 22 0 0 0 0 0
Days Payable 219 236 213 288 777
Cash Conversion Cycle 44 34 70 113 169 721 214 542 618 316 375 366
Working Capital Days 22 15 23 28 109 89 15 0 -479 -379 -1,168 -727
ROCE % 23% 16% 14% 12% 14% 16% -19% 24% 24% 40% 46% 37%

Shareholding Pattern

Numbers in percentages

Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
64.75% 64.75% 64.75% 64.75% 64.75% 64.75% 64.75% 64.75% 64.75% 64.75% 64.75% 64.75%
0.17% 0.30% 0.34% 0.31% 0.31% 0.35% 0.47% 1.09% 3.59% 3.33% 5.64% 5.76%
2.50% 2.23% 2.36% 2.17% 1.72% 1.54% 1.41% 1.36% 1.43% 1.35% 1.19% 1.94%
32.58% 32.72% 32.56% 32.78% 33.22% 33.35% 33.37% 32.81% 30.24% 30.58% 28.41% 27.55%
No. of Shareholders 47,37561,39362,88763,40463,45962,50262,33756,22449,41156,75369,53468,971

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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