Integrated Filing — IndAS



General information about company

Scrip Code 542597
NSE Symbol MSTCLTD
MSEI Symbol NOTLISTED
ISIN INE255X01014
Name of company MSTC LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 11-02-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 28-01-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Third quarter
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 11-02-2026   14:00:00
End date and time of board meeting 11-02-2026   18:15:00
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
The Company is not having any Loans and Debt Securities.



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
1 Income
Revenue from operations 8,842.72 25,085.94
Other income 1,827.89 5,180.86
Total income 10,670.61 30,266.80
2 Expenses
(a) Cost of materials consumed 0.00 0.00
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0.00 0.00
(d) Employee benefit expense 2,656.97 7,291.25
(e) Finance costs 0.00 0.00
(f) Depreciation, depletion and amortisation expense 274.62 766.40
(f) Other Expenses
1 Provision and write off 0.00 0.00
2 Others 1,089.30 2,980.39
Total other expenses 1,089.30 2,980.39
Total expenses 4,020.89 11,038.04
3 Total profit before exceptional items and tax 6,649.72 19,228.76
4 Exceptional items 0.00 0.00
5 Total profit before tax 6,649.72 19,228.76
6 Tax expense
7 Current tax 1,446.83 4,511.99
8 Deferred tax (38.45) 128.22
9 Total tax expenses 1,408.38 4,640.21
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 5,241.34 14,588.55
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 5,241.34 14,588.55
17 Other comprehensive income net of taxes (297.91) (56.85)
18 Total Comprehensive Income for the period 4,943.43 14,531.70
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 7,040.00 7,040.00
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 7.45 20.72
Diluted earnings (loss) per share from continuing operations 7.45 20.72
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 7.45 20.72
Diluted earnings (loss) per share from continuing and discontinued operations 7.45 20.72
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) Notes: 1) The above results for the quarter and nine months ended 31st December 2025 have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under Section 133 of the Companies Act, 2013 read together with the Companies (Indian Accounting Standards) Rules, 2015 (as amended) and have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on 11th February 2026. The statutory auditor has reviewed the results as required under regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (SEBI LODR) as amended. 2) There were no exceptional items during the quarter and nine months ended 31st December 2025. 3) Employee Benefit Expenses include Rs 238.17 Lakhs pertaining to increase in Gratuity limit from Rs 20.00 Lakhs to Rs 25.00 Lakhs as a result of increase in DA above 50% of Basic Pay as calculated by actuary based on internal assessment of the Company. 4) The Government of India notified new Labour Codes, effective from 21st November 2025. However, detailed rules, procedures and state-specific implementation mechanisms are yet to be notified. The evaluation and quantification of financial impact is in progress by the management. No provision has been made in the financial results as at the reporting date. The Company will review and assess the financial impact and will account for liability, if any. 5) The Current Borrowings includes Rs 14,361.97 Lakhs (Previous period Rs 14,361.97 Lakhs) towards payment made by Standard Chartered Bank (SCB), after purchase of export bills of MSTC raised on foreign buyers against export of Gold Jewelleries to the buyers during 2008-09, under a Receivable Purchase Agreement. On non-receipt of the proceeds from the foreign buyers against the bills, SCB submitted claims with the Insurance Company, who, however, wrongfully repudiated the claim of SCB. Thereafter, SCB converted the receivables purchased from MSTC under the Receivables Purchase Agreement into loans/ debts as if owing by MSTC, claimed the amount from MSTC with interest and filed a case, being the Original Application (OA) in the Debt Recovery Tribunal (DRT), Mumbai in the year 2012, which MSTC has denied and disputed. The claim of SCB is contingent upon the outcome of legal cases. Pending final disposal of all such Court cases where the matters are currently pending, MSTC has disclosed the amount simultaneously as Borrowings and as Trade Receivables. The matter is sub-judice and is contingent in nature, at this juncture. 6) The Board of Directors has declared Interim Dividend @ 76% per equity share of face value of Rs 10.00 each i.e. Rs 7.60 per equity share for the financial year 2025-26. 7) Figures of the previous period/year have been regrouped/reclassified/rearranged to conform to the classification of the current period/year, wherever necessary.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-10-2025 01-04-2025
Date of end of reporting period 31-12-2025 31-12-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Marketing 1,365.72 2,239.60
2 E-commerce 9,287.02 27,999.06
3 Others (unallocated) 0.0001787 0.0002814
Total Segment Revenue 10,670.61 30,266.80
Less: Inter segment revenue
Revenue from operations 10,670.61 30,266.80
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Marketing 1,368.54 2,233.62
2 E-commerce 9,155.13 27,694.63
3 Others (unallocated) (3,873.95) (10,699.49)
Total Profit before tax 6,649.72 19,228.76
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax 6,649.72 19,228.76
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Marketing 0.00 0.00
2 E-commerce 0.00 0.00
3 Others (unallocated) 0.00 0.00
Total Segment Asset 0.00 0.00
Un-allocable Assets 0.00 0.00
Net Segment Asset 0.00 0.00
4 Segment Liabilities
Segment Liabilities
1 Marketing 0.00 0.00
2 E-commerce 0.00 0.00
3 Others (unallocated) 0.00 0.00
Total Segment Liabilities 0.00 0.00
Un-allocable Liabilities 0.00 0.00
Net Segment Liabilities 0.00 0.00
Disclosure of notes on segments Textual Information(2)



Text Block

Textual Information(2) 1) In terms of IndAS 108 the Group has identified Marketing, E-Commerce as its two Primary Reportable Business Segments. There is no Secondary Segment. 2) Assets and liabilities used in the Group business are not identified to any of the reportable segments, as these are used interchangeably between the segments. Hence the Management believes that it is currently not practicable to provide segment disclosure related to assets and liabilities.



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Remeasurements of the net defined benefit plans (398.11) (75.97)
Total Amount of items that will not be reclassified to profit and loss (398.11) (75.97)
2 Income tax relating to items that will not be reclassified to profit or loss (100.20) (19.12)
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss
5 Total Other comprehensive income (297.91) (56.85)