MSTC Ltd Q1 FY27: Revenue Jumps 22% to ₹94.25 Crore, PAT Soars 31%
MSTC Limited reported Q1 FY27 revenue of ₹94.25 crore, a 22% YoY increase. PAT grew 31% to ₹58.12 crore. The company is focusing on digital solutions, with new platforms for EPR certificates and TReDS under development. The joint venture with Mahindra turned profitable. New initiatives include a travel portal and liquor license auctions.
The announcement details significant financial growth, strategic shifts towards digital solutions, operationalization of new platforms like EPR and TReDS, and positive performance from a joint venture, all of which have a substantial impact on the company's future prospects.
The company reported strong year-on-year growth in revenue and profit, highlighted record e-commerce revenue, and detailed progress on new digital initiatives and joint ventures, indicating a positive outlook.
MSTC Limited reported a strong performance for the first quarter of FY27, with revenue from operations increasing by 22% year-on-year to ₹94.25 crore. This growth was driven by a record Q1 e-commerce revenue of ₹89.49 crore, the highest since the company's listing in March 2019. The EBITDA margin stood at 69.05%, a nearly 3% increase compared to the same period last year, leading to the highest ever Q1 Profit Before Tax (PBT) and Profit After Tax (PAT) since listing.
The company has successfully exited its legacy trading and marketing segment, particularly the 110% BG model, and is now focused on being a digital solutions provider. New initiatives include the development of an electronic trading platform for EPR certificates, which is complete and awaiting operationalization. Additionally, MSTC's travel portal, mstcsmarttravel.in, is being rolled out for the B2B segment with a planned B2C launch. A trade receivables discounting system (TReDS) platform is also under development, with advanced stages and applications for necessary approvals from the Reserve Bank of India.
The joint venture with Mahindra, MMRPL, has shown positive PAT for the first time in several reporting periods, driven by increased feedstock inflows due to the government's push for Extended Producer Responsibility (EPR) norms. Business highlights for Q1 FY27 include continued services for the sale of mineral blocks, including critical minerals, and an agreement for the sale of 100 tons of Red sandalwood. The company has also won a contract with Coal India for coal linkage auctions and conducted niche auctions for Rashtriya Ispat Nigam Limited. Further, MSTC successfully conducted liquor license auctions for the government of Karnataka and continues to manage land parcel auctions for the Telangana state.
Financially, e-commerce revenue grew to ₹89.49 crore from ₹70.03 crore in the previous year, with other operating revenue at ₹28.51 crore. Total expenses increased by a normal 16% to ₹36.51 crore. EBITDA grew by 32% to ₹81.49 crore, PBT by 31.70% to ₹78.53 crore, and PAT by 31.14% to ₹58.12 crore. Consolidated PAT also saw a significant increase of 37.51% to ₹58.22 crore, with the joint venture reporting a positive PBT for the first time in four years.
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