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MSTC Ltd (MSTCLTD)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 542597 NSE: MSTCLTD e-Commerce | Small Cap | MSTC Share Price

₹533.20 86.05 (19.24%)

As on 04-Jun'26 16:59

MSTC Ltd (MSTCLTD)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 542597 NSE: MSTCLTD e-Commerce | Small Cap | MSTC Share Price

₹533.20 86.05 (19.24%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹3,754 Cr.
Current Price
₹533.2
52-Week Low / High
₹362 / 574
TTM EPS
₹31.5
TTM Sales
₹370 Cr.
Book Value per Share
₹130.8
P/E Ratio
16.93
Higher than its 5-year historical median
Industry PE
15.8
Price to Book (P/B)
4.08
Lower than its 5-year historical median
Price to Sales (P/S)
10.15
Higher than its 5-year historical median
EV/EBITDA
8.40
Lower than its 5-year historical median
Dividend Yield
7.93%
Profitability Efficiency
Return on Equity (ROE)
56.90%
Outperforms industry median
Return on Capital Employed (ROCE)
59.10%
Outperforms industry median
Return on Assets (ROA)
16.74%
Operating Profit Margin
55.8%
Net Profit Margin
129.59%
Gross Profit Margin
80.3%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
-1.67%
Operating Profit Growth (1 Year)
-
94.59%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
134.41%
Asset Quality
Promoter Holding
64.75%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹850 Cr.
Equity
₹70.4 Cr.
Face Value
₹10
All Time Low / High
₹70.40 / 1165.00

MSTC stock performance

Key Ratios
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Check Before You Invest

Valuation

Somewhat Overvalued

Price Trend

Strong
Q.1 Is MSTC Ltd a good quality company?
MSTC Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does MSTC Ltd performance compare with that of its Peers?
Q.1 Revenue growth of MSTC Ltd vs industry peers?
MSTC Ltd revenue CAGR is -17.84%, compared to the industry median CAGR of 0.00%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of MSTC Ltd?
Promoters hold 64.75% of the MSTC Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of MSTC Ltd over the last decade?
Over the last 5 year(s), the stock has delivered a CAGR of 8.87% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
MSTC Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 12.4%13.6%15.6%-19.2%23.8%24%39.6%46.3%36.8%59.1%-
Value Creation
Index
-0.10.00.1-2.40.70.71.82.31.73.2-

Growth Parameters

Sales 2,8921,4291,9462,927831428471325316311370
Sales YoY Gr.--50.6%36.2%50.4%-71.6%-48.5%10%-31%-2.6%-1.7%-
Adj EPS 8.59.310.9-46.110.714.428.43424.431.131.5
YoY Gr.-9.2%17.2%-523.2%NA34.5%97.9%19.6%-28.1%27.2%-
BVPS (₹) 104.173.479.929.639.850.466.184.494.4106.8130.8
Adj Net
Profit
59.965.476.6-32475.2101200239172219222
Cash Flow from Ops. 110-49070.159.923366571.1781-283260-
Debt/CF from Ops. 5.7-1.410.910.110.22.10.2-0.50.6-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales -22%-17.8%-12.9%-1.7%
Adj EPS 15.5%23.8%3%27.2%
BVPS0.3%21.9%17.3%13.1%
Share Price - 15.7% 20.3% -5.4%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
8.410.514.2-84.230.831.848.845.227.330.926.5
Op. Profit
Mgn %
4.27.5-16.2-8.411.8-20.2-10.945.228.255.860.2
Net Profit
Mgn %
2.14.63.9-11.19.123.642.573.754.470.460
Debt to
Equity
0.91.31.42.90.80.40.30.20.20.20
Working Cap
Days
4799738304309431,3288441,1081,2061,304718
Cash Conv.
Cycle
10722311610522411847-234-64-58208

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales2,8921,4291,9462,927831428471325316311
Operating Expenses + 2,7691,3222,2613,172732514522178227137
Manufacturing Costs6222223222
Material Costs2,6851,1871,5502,543566175159000
Employee Cost 43508760716886698891
Other Costs 36826225679327027510713744
Operating Profit 122107-315-24598-87-5114789174
Operating Profit Margin (%) 4.2%7.5%-16.2%-8.4%11.8%-20.2%-10.9%45.2%28.2%55.8%
Other Income + 7669513426221127917320377
Exceptional Items 000000000263
Interest 1037885642883000
Depreciation 4111225679
Profit Before Tax 9197112-269129115220313284504
Tax 3131355554142074113101
Profit After Tax 606577-32475101200239172403
PAT Margin (%) 2.1%4.6%3.9%-11.1%9.1%23.6%42.5%73.7%54.4%129.6%
Adjusted EPS (₹)8.59.310.9-46.110.714.428.434.024.457.2
Dividend Payout Ratio (%)30.10%44.70%34%0%30.90%30.70%45.40%44.10%63.50%70.80%

Valuation of MSTC - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 732517563208280355465594665752
Share Capital 9183570707070707070
Reserves 724499528138209285395524594681
Debt +628688762605232149145145145145
Long Term Debt0001340000
Short Term Debt628688762604228145145145145145
Minority Interest0000000000
Trade Payables2,1162,5262,552905592381161120118123
Others Liabilities 7611,0841,1751,0751,0511,1461,0441,6961,3021,565
Total Liabilities 4,2384,8165,0522,7932,1542,0311,8162,5552,2292,585

Fixed Assets

Net Fixed Assets +45413161469666965
Gross Block178817202079829195
Accumulated Depreciation133444610162330
CWIP 0062029500000
Investments 16192634343844464625
Inventories157100000000
Trade Receivables3,1553,6193,8421,7201,233724408334317310
Cash Equivalents flag 9454495063391717207351,4391,0301,359
Others Assets 103654667666670485559670769827
Total Assets 4,2384,8165,0522,7932,1542,0311,8162,5552,2292,585

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 110-490706023366571781-283260
PBT 9197112-269129115220313284504
Adjustment -65551545594050-15-90-86-354
Changes in Working Capital 114-602-161-19195512-109603-421179
Tax Paid -29-40-35-39-31-11-25-46-60-69
Cash Flow From Investing Activity + 7730557104231-1025-475-272165
Capex 9-2-7-17-14-22-10-16-108-25
Net Investments 02613979232-5-23-518-242120
Others 69462442141758597770
Cash Flow From Financing Activity + -48015-98-210-231-107-98-119-96-289
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid 0-67-67-57-27-7-3-00-1
Dividend Paid -18-35-25-260-23-91-114-96-289
Others -461116-5-127-203-77-5-500
Net Cash Flow -292-17129-46234548-2187-651136

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)8.3910.4714.19-84.1830.8331.8448.7745.1627.3256.9
ROCE (%)12.3913.5815.56-19.1923.8223.9739.6446.3336.859.1
Asset Turnover Ratio0.590.320.390.750.340.20.240.150.130.13
PAT to CFO Conversion(x)1.83-7.540.91N/A3.116.580.363.27-1.650.65
Working Capital Days
Receivable Days455.20865.20699.60346.80648.90835.10438.80416.70375.40367.70
Inventory Days10.201100000000
Payable Days348.10713.70598.10248.10482.301,016.50623000

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

MSTC Ltd FAQs

The current trading price of MSTC on 04-Jun-2026 16:59 is ₹533.2.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of MSTC stood at ₹3,753.7 Cr

The latest P/E ratio of MSTC as of 03-Jun-2026 is 16.93.

The latest P/B ratio of MSTC as of 03-Jun-2026 is 4.08.

The 52-week high of MSTC is ₹574.4 and the 52-week low is ₹362.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of MSTC is ₹370 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that MSTC Ltd is a good quality company.

The key valuation ratios of MSTC Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of MSTC Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About MSTC Ltd

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About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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