5425972025-10-012025-12-315425972025-12-315425972025-04-012025-12-315425972025-10-012025-12-31in-capmkt:OtherExpenses1Member5425972025-10-012025-12-31in-capmkt:OtherExpenses2Member5425972025-04-012025-12-31in-capmkt:OtherExpenses1Member5425972025-04-012025-12-31in-capmkt:OtherExpenses2Member5425972025-10-012025-12-31in-capmkt:ReportableSegments1Member5425972025-10-012025-12-31in-capmkt:ReportableSegments2Member5425972025-10-012025-12-31in-capmkt:ReportableSegments3Member5425972025-04-012025-12-31in-capmkt:ReportableSegments1Member5425972025-04-012025-12-31in-capmkt:ReportableSegments2Member5425972025-04-012025-12-31in-capmkt:ReportableSegments3Member5425972025-10-012025-12-31in-capmkt:ReportableSegments1Member5425972025-10-012025-12-31in-capmkt:ReportableSegments2Member5425972025-10-012025-12-31in-capmkt:ReportableSegments3Member5425972025-04-012025-12-31in-capmkt:ReportableSegments1Member5425972025-04-012025-12-31in-capmkt:ReportableSegments2Member5425972025-04-012025-12-31in-capmkt:ReportableSegments3Member5425972025-10-012025-12-31in-capmkt:ReportableSegments1Member5425972025-12-31in-capmkt:ReportableSegments1Member5425972025-10-012025-12-31in-capmkt:ReportableSegments2Member5425972025-12-31in-capmkt:ReportableSegments2Member5425972025-10-012025-12-31in-capmkt:ReportableSegments3Member5425972025-12-31in-capmkt:ReportableSegments3Member5425972025-10-012025-12-31in-capmkt:ReportableSegments1Member5425972025-12-31in-capmkt:ReportableSegments1Member5425972025-10-012025-12-31in-capmkt:ReportableSegments2Member5425972025-12-31in-capmkt:ReportableSegments2Member5425972025-10-012025-12-31in-capmkt:ReportableSegments3Member5425972025-12-31in-capmkt:ReportableSegments3Member5425972025-10-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15425972025-10-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss25425972025-04-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15425972025-04-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss2iso4217:INRiso4217:INRxbrli:shares542597MSTCLTDNOTLISTEDINE255X01014MSTC LIMITEDMain BoardEquity2025-04-012026-03-312026-02-112026-01-28INRLakhsQuarterlyThird quarterMulti segment2026-02-1114:00:002026-02-1118:15:00Not applicable2025-10-012025-12-31UnauditedConsolidated88427200018278900010670610000002656970000274620001089300004020890006649720000664972000144683000-38450001408380000524134000000-10456000513678000-296700004840080000000704000000107.37.3007.37.3Notes: <BR> 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. <BR> <BR> 2) The consolidated results include share of net profit/loss after tax and total comprehensive income/loss of joint venture namely Mahindra MSTC Recycling Private Limited. <BR> <BR> 3) There were no exceptional items during the quarter and nine months ended 31st December 2025. <BR> <BR> 4) 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. <BR> <BR> 5) 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. <BR> <BR> 6) 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. <BR> <BR> 7) 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. <BR> <BR> 8) Figures of the previous period/year have been regrouped/reclassified/rearranged to conform to the classification of the current period/year, wherever necessary. <BR> 2025-04-012025-12-31UnauditedConsolidated2508594000518086000302668000000072912500007664000029803900011038040001922876000019228760004511990001282200046402100001458855000000-467600001412095000-5321000140677400000007040000001020.0620.060020.0620.06Provision and write off0Others108930000Provision and write off0Others298039000Marketing136572000E-commerce928702000Others (unallocated)1787000Marketing223960000E-commerce2799906000Others (unallocated)28140001067061000302668000010670610003026680000Marketing136854000E-commerce915513000Others (unallocated)-397851000Marketing223362000E-commerce2769463000Others (unallocated)-1116709000654516000187611600000006545160001876116000Marketing0E-commerce0Others (unallocated)0000Marketing0E-commerce0Others (unallocated)00001) 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. 2) Assets and liabilities used in the Company's 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.Remeasurements of the net defined benefit plans-39811000Share of Other Comprehensive Income of Joint Venture121000-39690000Remeasurements of the net defined benefit plans-7597000Share of Other Comprehensive Income of Joint Venture364000-7233000-10020000-1912000-29670000-5321000