MSTC share price today

MSTC Ltd's share price was ₹583.90 at the close on 4 November 2026. It has been rising for 19 weeks. That is 1.9% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹381 and ₹743, and at that close it sat 56% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today MSTC Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 1 week in a row.

Over the last 7.6 years the share price moved +454% while the NIFTY 500 moved +128%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: foreign funds (FIIs) raised their stake for 3 quarters in a row, revenue up on a year earlier for 5 quarters in a row and operating margin up 5 points on a year earlier.

1. Foreign funds (FIIs) raised their stake for 3 quarters in a row

   From 3.8% to 5% of the company by the September 2026 quarter.

2. Revenue up on a year earlier for 5 quarters in a row

   In the June 2026 quarter revenue was ₹94 crore, +22.1% on a year earlier.

   Why: New government and private-sector work broadened the e-commerce business.

   Next results: check whether mineral and scrap auction activity holds up, since scrap prices and steel cycles can make quarterly outcomes uneven.

   From the earnings call on 14 Aug 2026.

3. Operating margin up 5 points on a year earlier

   61% in the June 2026 quarter, from 56%.

   Why: Margins rose because revenue grew faster than expenses, and overheads grew only a little even as the company expanded across India.

   Next results: check whether the margin stays near the current range, since management said higher scale could add some pressure.

   From the earnings call on 14 Aug 2026.

MSTC paid ₹15.70 a share in regular dividends in the 12 months to 5 November 2026 (2 payments), a yield of 2.69% at the ₹583.90 close on 4 November 2026. The last was a dividend of ₹8.10 a share, ex-date 17 September 2026.

MSTC dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. MSTC Ltd paid out 51% of its profit as dividends in FY26, and it paid a dividend in 9 of its last 13 reported years. 2 of those years show a negative figure because profit itself was negative.

From the NSE corporate-actions record, read 5 November 2026.

For April to June 2026 (the quarter ended 30 June 2026), MSTC reported revenue of ₹94.0 crore, up 22.1% from ₹77.0 crore a year earlier, and a profit of ₹58.0 crore, up 38.1% from ₹42.0 crore.

MSTC results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

MSTC's management discussed these results on a call held on 14 August 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

MSTC closed at ₹583.90 on 4 November 2026, up 9.0% from ₹535.80 a year earlier (7 November 2025) and up 48.3% over five years. Its highest weekly close since April 2019 was ₹1,031.90 on 20 January 2024.

MSTC share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

402 weekly closes from 5 April 2019 to 4 November 2026.

4 Nov 2026: MSTC closed at ₹583.90, up 9.0% on the week and down 17.2% on the month. 17 Sep 2026: ex-date for a dividend of ₹8.10 a share.

Earlier

• 14 Aug 2026: MSTC held its results call for April to June 2026. Management guided: E-commerce growth to average double-digit levels over a longer period, with higher and lower quarters offsetting.
• Results for April to June 2026: Revenue up 22.1% and profit up 38.1% on a year earlier.
• 18 Feb 2026: ex-date for an interim dividend of ₹7.60 a share.

On the call for April to June 2026, held on 14 August 2026, MSTC's management guided: E-commerce growth to average double-digit levels over a longer period, with higher and lower quarters offsetting.

“Once the exchanges are operational, the coal auctions will obviously stop. That is why we are also interested in setting up our own exchange.”Manobendra Ghoshal, on the call for April to June 2026

What management guided

• Operating margin to average near the current range, with some pressure at higher scalability.
• TReDS platform operationalization planned during FY27, subject to RBI and other regulatory clearances.
• EPR ETP launch expected shortly after government notification; initial scope 5 sectors, expanding toward approximately 15.
• Travel portal B2C rollout expected shortly after required empanelments; meaningful revenue to build gradually.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 14 August 2026.

When MSTC reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: EPR government notification and exchange launch - check whether formal certificate routing begins through MSTC's platform.

MSTC is on one of our India lists: Dividend stocks.

MSTC Ltd earned ₹58.0 Cr of net profit in the Jun 2026 quarter, +38.1% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY26 profit was ₹218 Cr. That is 61.7% of the quarter's revenue. The same quarter a year earlier earned ₹42.0 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹218 Cr (−46.4% on the year before).

Why profit moved: revenue changed +22.1% on a year earlier and the margin moved +5.0 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed −5.8% and revenue +20.6%. Profit is growing slower than sales: rising costs are taking part of the growth.

MSTC Ltd reported ₹94.0 Cr of revenue in the Jun 2026 quarter, +22.1% on the same quarter a year earlier. That is the 5th quarter in a row with growth on the year before. Over 10 years it has grown −19.5% a year on average. The last full year, FY26, came in at ₹370 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹386 Cr.

FY26 revenue was ₹370 Cr, +19.0% on the year before.

Recent pace: the last four quarters grew +20.6% on average, against −19.5% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +21.0%, against −15.0% a year over the last 8 quarters (accelerating); profit over the last 12 months grew −42.9%, against +10.4% a year (rolling over).

MSTC Ltd's operating margin was 61.0% in the Jun 2026 quarter, 5.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between −14.0% and 59.0%. The latest quarter is above every full year in that period.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +4.9 percentage points on the year while gross margin changed +0.0 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

When margins are at a record, every ratio built on profit looks better than usual, so watch whether they hold.

Over the last 3 years MSTC Ltd's operations used more cash than they brought in, so cash conversion was −6%, a gap worth watching. In FY26 its operations used ₹28.0 Cr of cash, against ₹218 Cr of profit. After ₹151 Cr of spending on assets, free cash was −₹179 Cr: it spent more than its operations brought in.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why −6% of profit came in as cash: the cash cycle got 519 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page.

What to look at next: less of the profit turns into cash than it should, and the cash cycle is 519 days longer. The next section looks at where the cash is stuck.

MSTC Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 224 days in FY26, up from −295 days in FY21. It spent ₹91.0 Cr on assets over the last 3 years.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹370 Cr, each day of that cycle ties up about ₹1.0 Cr, so roughly ₹227 Cr is tied up in the business at any time.

Spending on assets: ₹91.0 Cr over the last 3 years, against ₹26.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹0.0 Cr (FY26): assets paid for that are not earning yet.

In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit.

MSTC Ltd's P/E is 17.6×, in the middle of its own history: higher than 63% of past readings. Its usual P/E (the middle reading) is 15.6×, over 7.6 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Why the multiple is where it is: over the past year earnings per share moved −46.3% while the price moved +9.0%. The price did better than earnings, which pushed the multiple up within its own range.

Where the price move came from: over 5 years the price moved +8.2% a year; about +9.5% a year came from earnings growth and about −1.3 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple.

A quarterly PEG curve, which only the second data source has, is not shown on this page: its two data sources disagree by up to 218% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

MSTC Ltd's business is slowing from a peak. Profit and EPS growth have slowed sharply (profit growth from +113.5% at its peak to −42.9% now), while ROCE is still 30.0%. This is based on 8 quarters of 4 measures, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: slowing from a peak is where good stories often end quietly.

The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone.

This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

MSTC Ltd earned a ROCE of 30% in FY26. That is up from a low of −14% in FY19. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 58.9% net margin and 0.18× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 58.9% net margin × 0.18× asset turnover × 2.22× leverage (assets divided by equity) ≈ 23.5% on equity. The margin does most of the work; borrowing is a big part of it.

The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 218% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

MSTC Ltd had ₹145 Cr of borrowings against ₹904 Cr of equity in FY26, so its debt is 0.16× its equity. Over 5 years borrowings went from ₹154 Cr to ₹145 Cr. Over the last 3 of those years it spent ₹91.0 Cr on assets.

Debt-to-equity shows how much of the business is paid for with borrowed money. Interest cover shows how many times operating profit pays the interest bill. Low debt and high cover are the safe combination.

The spending on assets is being paid for from cash, not new debt.

The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 218% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

Foreign institutions cut their stake in MSTC Ltd by 1.2 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 5.0% of the company. Domestic institutions moved −0.5 points over the same period, to 1.1%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Foreign institutions: −1.2 points over 8 quarters, to 5.0%; Domestic institutions: −0.5 points over 8 quarters, to 1.1%; Promoters: +0.0 points over 8 quarters, to 64.8%.

Why the owners changed: foreign institutions drove it (−1.2 points), together with domestic institutions (−0.5 points). They reduced their stake.