E-Commerce and Digital Marketplace Services / Industrial Trading & Scrap Management
Strategic Profile
MSTC launched an e-Auction platform in 2002 and ventured into the B2B e-Commerce sector. The Department of Telecommunication selected MSTC for developing the portal for conducting auctions for allocation of spectrum including 5G. The company also entered the recycling business through a joint venture with Mahindra Accelo Limited and established the country's first Registered Vehicle Scrapping Facility.
Cyborg Score Rationale
The company posted a net profit of Rs 241.96 crores for FY2023 with a good return on equity (ROE) track record of 28.3% over 3 years. However, the company has delivered poor sales growth of -24.1% over the past five years, indicating revenue challenges despite profitability.
Top Insights
Seven tranches of coal mine auctions under commercial mining have been completed, with 106 mines successfully auctioned as of FY2024
FSNL subsidiary was disinvested in 2025 to Konoike Transport Co. Ltd for Rs. 320 crores
Stock provides a dividend yield of 8.86% with healthy dividend payout of 59.9%
Company has high debtors of 363 days, indicating significant working capital management challenges
Named Competitors
E-auction platforms — General e-commerce and auction platforms
Industrial scrap trading — Traditional metal scrap and industrial materials trading
Government procurement platforms — Government e-commerce marketplace for procurement
Recent Developments
(February 2026) Earnings call held with investors and analysts on February 12, 2026
(February 2026) L1 bidder for Coal India NRS linkage auction external service provider contract
(2025) Disinvestment of FSNL subsidiary to Japanese corporation Konoike Transport Co. Ltd
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