Mstc Limited — Important, 21-01-2025: Disclosure of material issue

MSTC Limited has completed the sale of its wholly-owned subsidiary, Ferro Scrap Nigam Limited (FSNL), to Konoike Transport Co. Ltd. for ₹320 crores. FSNL contributed approximately ₹434.61 crores to MSTC's turnover, accounting for 57.83% of its revenue last financial year, with a net worth of around ₹257.79 crores as of March 31, 2024. This transaction aligns with the company's strategic disinvestment process approved by the Alternative Mechanism of the Cabinet Committee on Economic Affairs. Post-sale, FSNL will no longer be a subsidiary of MSTC, marking a strategic shift for the company. This move could enhance MSTC's focus on its core operations and might lead to potential long-term growth opportunities. Investors should monitor MSTC’s strategic direction following this divestment.