BSE: 535205
Mystic Electronics Limited
A BSE-listed company (Scrip Code: 535205) classified under Services / Commercial Services & Supplies / Trading & Distributors, operating in a single business segment. Revenue from operations, which stood at about Rs 14.63 lakh in FY26 against Rs 14.35 lakh in FY25, has effectively collapsed in more recent quarters — filings show revenue from operations at essentially zero for Q2 FY26 and H1 FY26, with the reported income in those periods consisting entirely of 'other income' of around Rs 6.91 lakh for the quarter. FY26 total income was Rs 95.04 lakh versus Rs 131.98 lakh in FY25. Net profit for FY26 fell to around Rs 27.86 lakh, sharply lower than the prior year. The most striking change is on the balance sheet: loans and advances rose by Rs 943 lakh over FY26, driving operating cash flow to a sharply negative Rs -928.63 lakh. Cash and cash equivalents dropped from Rs 111.26 lakh to Rs 2.59 lakh by year-end. The company remains debt-free with total equity of about Rs 2,860.06 lakh against total assets of about Rs 2,861.53 lakh, and paid-up capital of Rs 1,976.63 lakh spread across 197.66 million shares of Rs 10 face value. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Revenue from operations, Other income. Single-segment BSE-listed entity in trading/distribution with near-zero operating revenue and a large increase in loans and advances on the balance sheet
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 1 | 0 | 0 |
| EBITDA (ex other income) | (0) | (8) | (1) | (0) | (0) |
| margin % | — | — | (269.0) | — | — |
| Owners' profit | 0 | (3) | (1) | 1 | 0 |
| EPS, as reported (₹) | 0.02 | (1.74) | (0.82) | 0.52 | 0.14 |
| ROE % · ROCE % | 0.1 · 0.2 | (11.9) · (11.4) | (5.4) · (5.1) | 3.6 · 3.8 | 1.0 · 0.9 |
| Debt / equity (x) | 0.04 | 0.04 | 0.04 | 0.00 | 0.00 |
| Cash from operations | (1) | 2 | (1) | 1 | (9) |
| Capex | 0 | 0 | 0 | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | (0) | 1 | (0) | 0 | 0 | 0 | 0 |
| Net profit | 0 | (0) | 1 | (0) | 0 | 0 | 0 | 0 |
| EPS (₹) | 0.07 | (0.21) | 0.43 | (0.04) | 0.03 | 0.00 | 0.15 | 0.04 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| REDINGTON LIMITED | 27,525 | 16.2 | 2.64 | 12.8 | 12.3 | 15.7 | 15.9 | 2.2 |
| MMTC LIMITED | 7,740 | 17.3 | 3.65 | 16.5 | 18.3 | 21.6 | (83.7) | 18426.5 |
| MSTC LIMITED | 3,896 | 16.6 | 4.31 | 11.3 | 24.2 | 31.8 | (13.9) | 86.5 |
| CREATIVE NEWTECH LIMITED | 1,653 | 25.4 | 4.27 | 19.0 | 18.1 | 21.0 | — | 5.2 |
| Pervasive Commodities Limited | 1,104 | — | 12.27 | — | (0.0) | (0.0) | — | 45.0 |
| SHIV AUM STEELS LIMITED | 736 | 64.8 | 6.09 | 47.0 | 6.0 | 6.9 | — | 4.9 |
| The Yamuna Syndicate Ltd | 736 | 8.1 | 0.57 | 185.3 | 4.0 | 0.3 | 4.8 | 6.2 |
| THE STATE TRADING CORPN | 602 | 0.9 | — | 51.0 | — | — | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 19.6 | 13.9 | 80 of 130 | 39% |
| P/B | 0.3 | 0.9 | 18 of 150 | 87% |
| ROCE | 0.9 | 2.1 | 109 of 177 | 39% |
| ROE | 1.0 | 2.3 | 92 of 158 | 42% |
| Debt / Equity | 0.0 | 0.1 | 1 of 154 | 73% |
| Profit growth | 195.7 | 0.6 | 24 of 157 | 85% |
| Market cap | 9 | 21 | 138 of 179 | 23% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · RTA confirms no dematerialisation requests for shares in Q2 FY27 | compliance | minimal | — | — |
| 1 Oct 2026 · 15th AGM: all 4 resolutions passed unanimously including new Independent Director | compliance | low | — | — |
| 29 Sept 2026 · Mr. Nikhil Rungta appointed Independent Director for 5-year term | management changes | medium | — | — |
| 29 Sept 2026 · Mystic Electronics 15th AGM held; 4 resolutions transacted | board shareholder meetings | low | — | — |
| 7 Sept 2026 · Notice of 15th AGM published in newspapers | compliance | minimal | — | — |
| 4 Sept 2026 · Notice of 15th AGM on 29 Sept 2026; related party deals up to Rs. 50 Crore | board shareholder meetings | low | — | — |
| 4 Sept 2026 · 15th AGM on 29 Sept 2026; FY26 Annual Report and Related Party Approvals Sought | board shareholder meetings | medium | — | — |
| 27 Aug 2026 · Mystic Electronics announces 15th AGM and book closure dates | board shareholder meetings | low | — | — |
| 26 Aug 2026 · Board approves new Independent Director, sets AGM on 29 Sept 2026 | management changes | medium | — | — |
| 30 Jul 2026 · Independent Director Manaklal Agrawal completes tenure, ceases from 30 July 2026 | management changes | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.