MSTC Limited, established on September 9, 1964, is a Miniratna Category-I PSU under the Ministry of Steel, Government of India. Initially focused on exporting ferrous scrap, it has diversified into e-commerce, trading, and recycling. MSTC operates one of India’s largest e-auction platforms, facilitating the sale of ferrous and non-ferrous scrap, minerals, forest products, and more, while also providing e-procurement services to government bodies. It trades bulk raw materials for industries and promotes sustainable practices through recycling. Recognized for transforming public procurement with its transparent e-auction services, MSTC continues to innovate and expand its offerings to meet evolving market needs.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | |
| Promoters + | 64.75% | 64.75% | 64.75% | 64.75% | 64.75% |
| FIIs + | 3.33% | 5.64% | 5.76% | 6.21% | 6.18% |
| DIIs + | 1.35% | 1.19% | 1.94% | 1.63% | 1.68% |
| Public + | 30.58% | 28.41% | 27.55% | 27.40% | 27.39% |
| No. of Shareholders | 56,753 | 69,534 | 68,971 | 76,702 | 77,267 |
The shareholding pattern of MSTC demonstrates stability and gradual changes across different quarters in 2023 and 2024. As of December 2023, MSTC’s promoters held a significant majority with 64.75%, maintaining this consistent shareholding through to December 2024. Foreign Institutional Investors (FIIs) showed a steady increase, rising from 3.33% in December 2023 to 6.18% in December 2024, reflecting growing international interest in MSTC. Domestic Institutional Investors (DIIs) exhibited fluctuating trends, with their shareholding increasing from 1.35% in December 2023 to 1.68% in December 2024. Public shareholding, however, declined slightly from 30.58% to 27.39% over the same period. Notably, the number of MSTC shareholders grew significantly, from 56,753 in December 2023 to 77,267 by December 2024, indicating rising market engagement and interest in the company.
Below are the trading platforms that you can use to purchase MSTC shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| March 2025 | 593.99 | 456.91 |
| April 2025 | 588.11 | 452.39 |
| May 2025 | 570.98 | 439.21 |
| June 2025 | 596.67 | 458.98 |
| July 2025 | 584.97 | 449.98 |
| August 2025 | 603.07 | 463.90 |
| September 2025 | 610.30 | 469.46 |
| October 2025 | 626.17 | 481.67 |
| November 2025 | 641.82 | 493.71 |
| December 2025 | 670.71 | 515.93 |
As we move through 2025, MSTC’s share prices are projected to exhibit steady growth. In March 2025, MSTC’s maximum price is expected to reach ₹593.99, while the minimum price may be around ₹456.91. By December 2025, MSTC’s share price is anticipated to peak at ₹670.71, with a minimum of ₹515.93.
| When | Maximum Price | Minimum Price |
| January 2026 | 690.83 | 531.41 |
| February 2026 | 673.56 | 518.12 |
| March 2026 | 687.03 | 528.48 |
| April 2026 | 701.05 | 539.27 |
| May 2026 | 694.11 | 533.93 |
| June 2026 | 711.46 | 547.28 |
| July 2026 | 697.51 | 536.55 |
| August 2026 | 719.08 | 553.14 |
| September 2026 | 733.46 | 564.20 |
| October 2026 | 752.53 | 578.87 |
| November 2026 | 771.35 | 593.34 |
| December 2026 | 790.63 | 608.18 |
As we step into 2026, MSTC’s share prices are projected to exhibit consistent growth. In January 2026, the maximum price is expected to reach ₹690.83, with a minimum price of ₹531.41. Progressing to December 2026, the maximum price is anticipated to rise to ₹790.63, while the minimum price could be around ₹608.18
| When | Maximum Price | Minimum Price |
| January 2027 | 798.54 | 614.26 |
| February 2027 | 819.01 | 630.01 |
| March 2027 | 850.95 | 654.58 |
| April 2027 | 834.27 | 641.75 |
| May 2027 | 809.97 | 623.05 |
| June 2027 | 846.42 | 651.09 |
| July 2027 | 829.82 | 638.32 |
| August 2027 | 855.49 | 658.07 |
| September 2027 | 885.43 | 681.10 |
| October 2027 | 908.45 | 698.81 |
| November 2027 | 931.16 | 716.28 |
| December 2027 | 954.44 | 734.18 |
| When | Maximum Price | Minimum Price |
| January 2028 | 973.53 | 748.87 |
| February 2028 | 998.49 | 768.07 |
| March 2028 | 1,037.43 | 798.02 |
| April 2028 | 1,017.09 | 782.38 |
| May 2028 | 987.47 | 759.59 |
| June 2028 | 1,031.90 | 793.77 |
| July 2028 | 1,011.67 | 778.21 |
| August 2028 | 1,042.96 | 802.28 |
| September 2028 | 1,079.46 | 830.36 |
| October 2028 | 1,107.53 | 851.94 |
| November 2028 | 1,135.22 | 873.24 |
| December 2028 | 1,163.60 | 895.07 |
| When | Maximum Price | Minimum Price |
| January 2029 | 1,186.87 | 912.98 |
| February 2029 | 1,217.30 | 936.39 |
| March 2029 | 1,264.78 | 972.90 |
| April 2029 | 1,239.98 | 953.83 |
| May 2029 | 1,203.86 | 926.05 |
| June 2029 | 1,258.03 | 967.72 |
| July 2029 | 1,233.37 | 948.74 |
| August 2029 | 1,271.51 | 978.09 |
| September 2029 | 1,316.01 | 1,012.32 |
| October 2029 | 1,350.23 | 1,038.64 |
| November 2029 | 1,383.99 | 1,064.61 |
| December 2029 | 1,418.59 | 1,091.22 |
| When | Maximum Price | Minimum Price |
| January 2030 | 1,446.96 | 1,113.04 |
| February 2030 | 1,484.06 | 1,141.58 |
| March 2030 | 1,541.94 | 1,186.11 |
| April 2030 | 1,511.70 | 1,162.85 |
| May 2030 | 1,467.67 | 1,128.98 |
| June 2030 | 1,533.72 | 1,179.78 |
| July 2030 | 1,503.65 | 1,156.65 |
| August 2030 | 1,550.15 | 1,192.42 |
| September 2030 | 1,604.41 | 1,234.16 |
| October 2030 | 1,646.12 | 1,266.25 |
| November 2030 | 1,687.27 | 1,297.90 |
| December 2030 | 1,729.46 | 1,330.35 |
As we progress through 2030, MSTC’s share prices are expected to show a strong upward trend. In January 2030, MSTC’s maximum price is projected to be ₹1,446.96, with a minimum price of ₹1,113.04. By December 2030, the maximum price is anticipated to reach ₹1,729.46, while the minimum price could be around ₹1,330.35, showcasing substantial growth throughout the year.
Financial Condition of MSTC
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 1,231 | 780 | 876 | 721 | 751 | 421 |
| Expenses + | 1,083 | 831 | 867 | 528 | 597 | 330 |
| Operating Profit | 148 | -51 | 9 | 193 | 154 | 91 |
| OPM % | 12% | -7% | 1% | 27% | 21% | 22% |
| Other Income + | 65 | 214 | 247 | 158 | 211 | 511 |
| Interest | 30 | 8 | 3 | 0 | 0 | 7 |
| Depreciation | 17 | 19 | 21 | 22 | 24 | 6 |
| Profit before tax | 167 | 136 | 233 | 329 | 340 | 589 |
| Tax % | 42% | 17% | 15% | 26% | 40% | |
| Net Profit + | 97 | 113 | 199 | 242 | 204 | 418 |
| EPS in Rs | 13.78 | 16.05 | 28.28 | 34.37 | 29.03 | 59.31 |
| Dividend Payout % | 0% | 27% | 46% | 44% | 53% |
The financial performance of MSTC reflects its operational trends and strategic growth over the years. From March 2020 to March 2024, MSTC’s sales showcased a fluctuating pattern, starting at ₹1,231 crore in March 2020, declining to ₹721 crore in March 2023, and slightly recovering to ₹751 crore in March 2024. The trailing twelve months (TTM) figure of ₹421 crore indicates a significant dip in sales.
Expenses followed a similar trajectory, peaking at ₹1,083 crore in March 2020 and decreasing to ₹597 crore by March 2024. Despite this, MSTC improved its operational efficiency, as evident from its Operating Profit Margin (OPM%), which increased from 12% in March 2020 to a strong 21% in March 2024. The TTM OPM of 22% demonstrates sustained profitability.
MSTC’s net profit showed a steady upward trend, growing from ₹97 crore in March 2020 to ₹242 crore in March 2023, although it slightly decreased to ₹204 crore in March 2024. The TTM net profit, however, surged to ₹418 crore, reflecting improved financial health. The Earnings Per Share (EPS) also rose consistently, reaching ₹59.31 in the TTM period.
The company’s dividend payout ratio increased from 0% in March 2020 to 53% in March 2024, indicating a shareholder-friendly approach. MSTC’s strong profitability, coupled with efficient cost management and rising EPS, highlights its strong financial foundation.
FAQs
What is MSTC’s current market capitalization?
MSTC currently holds a market capitalization of ₹3,54 crores.
MSTC’s share price for 2025 is anticipated to fluctuate between ₹439.21 (minimum) and ₹670.71 (maximum).
Looking ahead, MSTC projects its share price to range between ₹1,113.04 (minimum) and ₹1,729.46 (maximum) by 2030.
What is MSTC’s current Price-to-Earnings (P/E) ratio?
MSTC’s P/E ratio is 20.0.
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Conclusion: Assessing Investment Potential in MSTC for 2025
In conclusion, MSTC Limited has demonstrated strong financial growth and operational efficiency over the years, supported by a consistent increase in profitability, a rising EPS, and improved operating profit margins. Despite fluctuations in sales and expenses, the company has managed to maintain a strong financial foundation, with its net profit and dividend payout ratio reflecting its shareholder-centric approach. The projected share price growth from 2025 to 2030 indicates investor confidence and a positive outlook for the company’s future. MSTC’s focus on innovation, sustainability, and market expansion further solidifies its position as a key player in its industry.
What did we learn?
