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-Apr-2024
Date of end of financial year 31-Mar-2025
Date of board meeting when results were approved 29-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 17-May-2025
Description of presentation currency INR (in Actuals)
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 29-May-2025   14:00:00
End date and time of board meeting 29-May-2025   18:00:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Whether the company has any related party? Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure? Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public NA
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure. NA
Whether the company is a high value debt listed entity according to regulation 15 (1A)? No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company? Yes
Latest Date on which RPT policy is updated 2022-02-25
Indicate Company website link for updated RPT policy of the Company https://www.mstcindia.co.in/MSTC_Static_Pages/frontpage/newpolicy/RELATEDPARTYTRANSACTIONS.pdf
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
Loans or Debt Securities are not applicable on the company.



Financial Results Ind-AS
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-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1 Income
Revenue from operations 888524000 3109596000
Other income 231763000 765424000
Total income 1120287000 3875020000
2 Expenses
(a) Cost of materials consumed 0 0
(b) Purchases of stock-in-trade 0 0
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0 0
(d) Employee benefit expense 244502000 913213000
(e) Finance costs 0 1800000
(f) Depreciation, depletion and amortisation expense 21508000 90876000
(f) Other Expenses
1 Impairment Losses 100600000 100600000
2 Provisions and Write Off 5164000 5164000
3 Others 94249000 356225000
Total other expenses 200013000 461989000
Total expenses 466023000 1467878000
3 Total profit before exceptional items and tax 654264000 2407142000
4 Exceptional items -103522000 2631886000
5 Total profit before tax 550742000 5039028000
6 Tax expense
7 Current tax -120040000 1016867000
8 Deferred tax 73000 -7648000
9 Total tax expenses -119967000 1009219000
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0 0
11 Net Profit Loss for the period from continuing operations 670709000 4029809000
12 Profit (loss) from discontinued operations before tax 0 0
13 Tax expense of discontinued operations 0 0
14 Net profit (loss) from discontinued operation after tax 0 0
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0 0
16 Total profit (loss) for period 670709000 4029809000
17 Other comprehensive income net of taxes 493000 45599000
18 Total Comprehensive Income for the period 671202000 4075408000
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 704000000 704000000
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve 6813916000
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 9.53 57.24
Diluted earnings (loss) per share from continuing operations 9.53 57.24
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 9.53 57.24
Diluted earnings (loss) per share from continuing and discontinued operations 9.53 57.24
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) 1)tThe above results for the quarter and year ended 31st March 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 29th May 2025. 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. n2)tThe figures for the quarter ended March 31, 2025 and March 31, 2024 are the balancing figures between the audited figures in respect of the full financial year and published year to date figures up to the third quarter of respective financial years. n3)tPursuant to the share purchase agreement dated 24.10.2024 executed among MSTC Limited, Ferro Scrap Nigam Limited (FSNL) and Konoike Transport Company Limited and receipt of sale consideration of Rs.32,000.00 Lakhs, MSTC has transferred its entire shareholding in FSNL to Konoike Transport Company Limited on 21.01.2025. With this FSNL ceases to be the subsidiary of MSTC, w.e.f. 21.01.2025. n4)tIn terms of impairment testing under Ind AS 36, the fair value of MSTC Limited's investment in MMRPL as on March 31, 2025, was assessed at Rs.2,494.00 Lakhs, compared to the carrying amount of Rs.3,500.00 Lakhs. Accordingly, an impairment loss of Rs.1,006.00 Lakhs has been recognized in the Standalone Financial Statements. n5)tThe 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. 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. n6)tExceptional item includes expenditure of Rs.3,850.33 lakhs (USD 38.93 Lakhs and Rs.481.98 Lakhs) towards payment and provision on account of very old arbitration awards and profit on sale of investment in FSNL of Rs.30,169.19 Lakhs (net of sale proceeds of Rs.32,000.00 lakhs minus Rs.1,581.00 lakhs original value of investment and Rs.249.81 lakhs direct expenses on sale) to Konoike Transport Company Limited. n7)tThe audited Accounts are subject to Supplementary Audit by the Comptroller and Auditor General of India under section 143(6) of the Companies Act, 2013. n8)tFigures 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


Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Standalone
Assets
1 Non-current assets
Property, plant and equipment 528561000
Capital work-in-progress 0
Investment property 0
Goodwill 0
Other intangible assets 51689000
Intangible assets under development 0
Biological assets other than bearer plants 0
Investments accounted for using equity method 249400000
Non-current financial assets
Non-current investments 0
Trade receivables, non-current 0
Loans, non-current 0
Other non-current financial assets 34617000
Total non-current financial assets 34617000
Deferred tax assets (net) 978276000
Other non-current assets 2224567000
Total non-current assets 4067110000
2 Current assets
Inventories 0
Current financial asset
Current investments 0
Trade receivables, current 3095439000
Cash and cash equivalents 3782041000
Bank balance other than cash and cash equivalents 9805208000
Loans, current 0
Other current financial assets 521793000
Total current financial assets 17204481000
Current tax assets (net) 0
Other current assets 46161000
Total current assets 17250642000
3 Non-current assets classified as held for sale 0
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 21317752000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 704000000
Other equity 6813916000
Total equity attributable to owners of parent 7517916000
Non controlling interest
Total equity 7517916000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 0
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0
Total Trade payable 0
Other non-current financial liabilities 35628000
Total non-current financial liabilities 35628000
Provisions, non-current 168813000
Deferred tax liabilities (net) 0
Deferred government grants, Non-current 0
Other non-current liabilities 103096000
Total non-current liabilities 307537000
Current liabilities
Current financial liabilities
Borrowings, current 1450020000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 599000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 1230528000
Total Trade payable 1231127000
Other current financial liabilities 10577553000
Total current financial liabilities 13258700000
Other current liabilities 232303000
Provisions, current 1296000
Current tax liabilities (Net) 0
Deferred government grants, Current 0
Total current liabilities 13492299000
3 Liabilities directly associated with assets in disposal group classified as held for sale 0
4 Regulatory deferral account credit balances and related deferred tax liability 0
Total liabilities 13799836000
Total equity and liabilites 21317752000
Disclosure of notes on assets and liabilities



Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
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-Jan-2025 01-Apr-2024
Date of end of reporting period 31-Mar-2025 31-Mar-2025
Whether accounts are audited or unaudited Audited Audited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Marketing 17524000 171508000
2 E-commerce 1091813000 3662725000
3 Others (unallocable) 10950000 40787000
Total Segment Revenue 1120287000 3875020000
Less: Inter segment revenue 0 0
Revenue from operations 1120287000 3875020000
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Marketing 11839000 162842000
2 E-commerce 1081336000 3630034000
3 Others (unallocable) -542433000 1246152000
Total Profit before tax 550742000 5039028000
i. Finance cost 0 0
ii. Other Unallocable Expenditure net off Unallocable income 0 0
Profit before tax 550742000 5039028000
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Marketing 0 0
2 E-commerce 0 0
3 Others (unallocable) 0 0
Total Segment Asset 0 0
Un-allocable Assets 0 0
Net Segment Asset 0 0
4 Segment Liabilities
Segment Liabilities
1 Marketing 0 0
2 E-commerce 0 0
3 Others (unallocable) 0 0
Total Segment Liabilities 0 0
Un-allocable Liabilities 0 0
Net Segment Liabilities 0 0
Disclosure of notes on segments Textual Information(2)



Text Block
Textual Information(2) 1) In terms of IndAS 108 the Company has identified Marketing and E-Commerce as its two Primary Reportable Business Segments. There is no Secondary Segment. n2) Assets and liabilities used in the Company's business are not identified to any of the reportable segments, as these are used interchangably 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
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-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
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 Remeasurement of the net defined benefit plans 659000 60935000
Total Amount of items that will not be reclassified to profit and loss 659000 60935000
2 Income tax relating to items that will not be reclassified to profit or loss 166000 15336000
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 0 0
5 Total Other comprehensive income 493000 45599000



Cash flow statement, indirect
Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2024
B Date of end of reporting period 31-Mar-2025
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Standalone
Part I Blue color marked fields are non-mandatory.
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 5039028000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 1800000
Adjustments for decrease (increase) in inventories 0
Adjustments for decrease (increase) in trade receivables, current 34363000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets -36227000
Adjustments for decrease (increase) in other non-current assets -3016838000
Adjustments for other financial assets, non-current 0
Adjustments for other financial assets, current 0
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current 1831200000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities -44113000
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 91622000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 100600000
Adjustments for provisions, current 14510000
Adjustments for provisions, non-current 0
Adjustments for other financial liabilities, current 0
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains 0
Adjustments for dividend income 0
Adjustments for interest income 724637000
Adjustments for share-based payments 0
Adjustments for fair value losses (gains) 0
Adjustments for undistributed profits of associates 0
Other adjustments for which cash effects are investing or financing cash flow 0
Other adjustments to reconcile profit (loss) 0
Other adjustments for non-cash items 0
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments for reconcile profit (loss) -1747720000
Net cash flows from (used in) operations 3291308000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) 688278000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities 2603030000
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 3175019000
Cash flows used in obtaining control of subsidiaries or other businesses 0
Other cash receipts from sales of equity or debt instruments of other entities 0
Other cash payments to acquire equity or debt instruments of other entities 0
Other cash receipts from sales of interests in joint ventures 0
Other cash payments to acquire interests in joint ventures 50000000
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0
Proceeds from sales of property, plant and equipment 143000
Purchase of property, plant and equipment 246339000
Proceeds from sales of investment property 0
Purchase of investment property 1929404000
Proceeds from sales of intangible assets 0
Purchase of intangible assets 0
Proceeds from sales of intangible assets under development 0
Purchase of intangible assets under development 0
Proceeds from sales of goodwill 0
Purchase of goodwill 0
Proceeds from biological assets other than bearer plants 0
Purchase of biological assets other than bearer plants 0
Proceeds from government grants 0
Proceeds from sales of other long-term assets 0
Purchase of other long-term assets 0
Cash advances and loans made to other parties 0
Cash receipts from repayment of advances and loans made to other parties 0
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0
Dividends received 0
Interest received 698968000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) investing activities 1648387000
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0
Payments from changes in ownership interests in subsidiaries 0
Proceeds from issuing shares 0
Proceeds from issuing other equity instruments 0
Payments to acquire or redeem entity's shares 0
Payments of other equity instruments 0
Proceeds from exercise of stock options 0
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings 0
Repayments of borrowings 0
Payments of lease liabilities 0
Dividends paid 2886400000
Interest paid 5920000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities -2892320000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 1359097000
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0
Net increase (decrease) in cash and cash equivalents 1359097000
Cash and cash equivalents cash flow statement at beginning of period 2422944000
Cash and cash equivalents cash flow statement at end of period 3782041000





Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 S Guha & Associates Yes 31-Mar-2027


Format for Disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter)
Sr No. Additional disclosure of related party transactions - applicable only in case the related party transaction relates to loans, inter-corporate deposits, advances or investments made or given by the listed entity/subsidiary. These details need to be disclosed only once, during the reporting period when such transaction was undertaken.
Details of the party (listed entity/subsidiary) entering into the transaction Details of the counterparty Type of related party transaction Details of other related party transaction Value of the related party transaction as approved by the audit committee Remarks on approval by audit committee Value of the related party transaction ratified by the audit committee Date of Audit Committee Meeting where the ratification was approved Value of transaction during the reporting period In case monies are due to either party as a result of the transaction In case any financial indebtedness is incurred to make or give loans, inter-corporate deposits, advances or investments Details of the loans, inter-corporate deposits, advances or investments Notes
Name PAN Name PAN Relationship of the counterparty with the listed entity or its subsidiary Opening balance Closing balance Nature of indebtedness (loan/ issuance of debt/ any other etc.) Details of other indebtedness Cost Tenure Nature (loan/ advance/ intercorporate deposit/ investment ) Interest Rate (%) Tenure Secured/ unsecured Purpose for which the funds will be utilised by the ultimate recipient of funds (endusage)
1 MSTC Limited Sri Manobendra Ghoshal Chairman and Managing Director Remuneration Not Applicable 4527000 0 0
2 MSTC Limited Sri Subrata Sarkar Director( Finance) & CFO Remuneration Not Applicable 3037000 0 0
3 MSTC Limited Smt. Bhanu Kumar Director ( Commercial) Remuneration Not Applicable 3543000 0 0
4 MSTC Limited Sri Adya Prasad Pandey (upto 31.10.2024) Independent Director Any other transaction Sitting Fess Not Applicable 80000 0 0
5 MSTC Limited Sri Vasant Ashok Patil (upto 31.10.2024) Independent Director Any other transaction Sitting Fess Not Applicable 100000 0 0
6 MSTC Limited Sri Ajay Kumar Rai Company Secretary Remuneration Not Applicable 2576000 0 0
7 MSTC Limited Mahindra MSTC Private Limited Joint Venture Any other transaction Amount received towards reimbursement of expenditure (deputation fees) Not Applicable 1933000 0 0
8 MSTC Limited Mahindra MSTC Private Limited Joint Venture Sale of goods or services 10000000 Audit committee has provided omnibus approval for transaction with JV company 2361000 0 0
Total value of transaction during the reporting period 18157000