New Delhi: MSTC Limited held its 61st Annual General Meeting (AGM) on September 24, 2026, through Video Conferencing (VC) and Other Audio-Visual Means (OAVM). The meeting considered and approved key financial and governance-related resolutions, including adoption of the audited financial statements for FY 2025-26, confirmation of the interim dividend and declaration of the final dividend.
The AGM was chaired by Manobendra Ghoshal, Chairman and Managing Director of MSTC Limited. The meeting commenced at 11:00 a.m. and concluded at 12:20 p.m., with around 84 members participating virtually. The required quorum under the Companies Act was present throughout the proceedings.
MSTC AGM Approves FY26 Financial Statements and Dividend
Shareholders adopted the Audited Standalone and Consolidated Financial Statements of the company for the financial year ended March 31, 2026. The Board’s Report and Statutory Auditor’s Report were also adopted during the meeting.
The shareholders confirmed the interim dividend and approved the final dividend for FY 2025-26:
- Interim dividend: ₹7.60 per equity share
- Final dividend: ₹8.10 per equity share
- Total dividend for FY26: ₹15.70 per equity share
The final dividend of ₹8.10 per share represents 81% for FY 2025-26.
The AGM also authorised the Board to determine the remuneration of the Statutory Auditors appointed by the Comptroller and Auditor General of India (CAG) for FY 2026-27.
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Key Director Appointments Approved
Several governance-related resolutions were approved by shareholders during the AGM.
Manobendra Ghoshal, who retired by rotation, was re-appointed as a Director of the company.
The members also approved the appointment of the following directors:
- Siraiong Singpho as Independent Director
- Niwas Mandal as Independent Director
- Santosh as Government Nominee Director
These appointments formed part of the special business placed before the shareholders at the 61st AGM.
Chairman Highlights MSTC’s FY26 Performance and Future Outlook
During his address to shareholders, Manobendra Ghoshal provided an overview of the economic environment and MSTC’s performance during FY 2025-26.
The Chairman highlighted the company’s operational achievements, business environment and future industry outlook. He also expressed gratitude to various Central and State Government authorities, ministries and other stakeholders for their continued support.
The ministries acknowledged for their support included:
- Ministry of Steel
- Ministry of Power
- Ministry of Defence
- Ministry of Coal
- State Governments
- Private-sector stakeholders
The management also discussed the company’s future business opportunities and operational priorities.
Shareholders Raise Queries on Capex, ESG, CSR and Business Activities
During the shareholder interaction, members raised questions on several aspects of MSTC’s operations and future plans.
Key areas discussed included:
- Financial and operational performance
- New business activities
- Capital expenditure plans
- Legal cases
- ESG ratings
- CSR activities
- Joint venture operations
- Business threats and mitigation strategies
The management responded to the queries and provided clarifications on the issues raised by shareholders.
It was also noted that observations contained in the Secretarial Audit Report and comments made by the CAG on the financial statements did not have an adverse effect on the functioning of the company.
Remote E-Voting Conducted Through NSDL
The voting process for the AGM was conducted through remote e-voting as well as e-voting during the meeting.
The remote e-voting facility remained open from September 20 to September 23, 2026, through the NSDL portal. Shareholders who participated in the AGM were also provided an opportunity to vote electronically during the meeting.
M/s Bajaj Todi & Associates acted as the Scrutinizer for the voting process.
The company stated that the voting results would be submitted to the stock exchanges and uploaded on the MSTC website within the prescribed timeline.
Resolutions Approved at MSTC 61st AGM
The key resolutions placed before and approved by shareholders included:
Ordinary Business
- Adoption of the audited standalone and consolidated financial statements for the year ended March 31, 2026.
- Confirmation of the interim dividend of ₹7.60 per share and declaration of the final dividend of ₹8.10 per share for FY 2025-26.
- Re-appointment of Manobendra Ghoshal as Director following retirement by rotation.
- Authorisation to the Board to fix the remuneration of Statutory Auditors for FY 2026-27.
Special Business
- Appointment of Siraiong Singpho as Independent Director.
- Appointment of Niwas Mandal as Independent Director.
- Appointment of Santosh as Government Nominee Director.
About MSTC Limited
MSTC Limited is a Central Public Sector Enterprise under the administrative control of the Ministry of Steel, Government of India. The company is primarily engaged in e-commerce and digital marketplace services, including electronic auctions and other technology-enabled trading platforms for various commodities and assets.
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