MSTC Limited submitted its Business Responsibility and Sustainability Report (BRSR) for FY26 to stock exchanges on September 1, 2026. The filing details the company’s ESG performance, governance structures, and stakeholder engagement metrics for the financial year ended March 31, 2026.

Governance and Grievance Redressal

The company reported receiving 61 grievances from stakeholders during FY26, achieving a 100% resolution rate with no pending cases as of year-end. Customer complaints accounted for the majority of filings, rising to 57 from 42 in the previous year. The entity maintains dedicated grievance mechanisms for shareholders, employees, customers, and value chain partners.

Human Rights and Employee Welfare

MSTC expanded its human rights training coverage to 91.33% of its workforce in FY26, a significant increase from 40.32% in FY25. The company reported zero incidents of sexual harassment or workplace discrimination complaints upheld during the current fiscal year. All permanent employees received health and accident insurance coverage, with 100% of the workforce covered under retirement benefits including Provident Fund and Gratuity.

Environmental Performance

Total energy consumption rose to 4,690 GJ from 3,981.50 GJ in the prior year. Scope 1 emissions increased to 11.06 metric tonnes of CO2 equivalent, while Scope 2 emissions grew to 877.64 metric tonnes. Despite higher absolute figures, emission intensity per rupee of turnover decreased slightly to 0.0000002404 from 0.0000002474. Total waste generated increased to 12.72 metric tonnes, primarily driven by e-waste and non-hazardous waste.

What the Numbers Show

Customer complaints surged by nearly 36% year-on-year, accounting for over 93% of all grievances received. This concentration suggests that service delivery and platform usability remain the primary areas of friction for stakeholders, overshadowing internal employee or shareholder concerns which remained minimal.

CSR and Social Impact

The company invested approximately ₹73.76 lakhs in CSR initiatives within designated aspirational districts, focusing on healthcare infrastructure and education. Procurement from MSMEs constituted 35.05% of total inputs, down from 52.07% in FY25, though still reflecting a commitment to inclusive growth policies.

MSTC Limited has scheduled its 61st Annual General Meeting for September 24, 2026, at 11:00 am via video conferencing, to seek shareholder approval for a final dividend of ₹8.10 per equity share for FY26.

The Board recommends the final dividend at an 81% payout ratio. This follows an interim dividend of ₹7.60 per share already paid during FY26, taking the total dividend for the year to ₹15.70 per share with a total payout of ₹11,052.80 lakhs. Shareholders on record as of September 17, 2026 will be eligible for the final payout. The final dividend, once approved, will be paid within 30 days of declaration through electronic mode to members with updated bank details.

AGM agenda and financial statements

The meeting will also transact the following ordinary business items:

• Adoption of audited standalone and consolidated financial statements for the year ended March 31, 2026, along with the Board's Report, Auditors' Report, and comments of the Comptroller and Auditor General of India.
• Confirmation of the interim dividend of ₹7.60 per share and declaration of the final dividend of ₹8.10 per share for FY26.
• Reappointment of Shri Manobendra Ghoshal as Chairman and Managing Director, who retires by rotation.
• Authorisation to the Board to fix remuneration of Statutory Auditors appointed by the Comptroller and Auditor General of India for FY27.

Corporate governance updates

The AGM agenda includes significant board composition changes approved by the Ministry of Steel. Members will vote on the following appointments:

Shri Siraiong Singpho and Shri Niwas Mandal were appointed as Additional Non-Official Independent Directors by the Board through a resolution by circulation dated July 23, 2026, pursuant to an order from the Board Level Appointment cell of the Ministry of Steel dated July 14, 2026. Smt. Santosh, Statistical Adviser at the Ministry of Steel, was appointed as Additional Director designated as Government Nominee Director by the Board effective August 7, 2026, pursuant to a Ministry of Steel order dated August 6, 2026.

Voting and record dates

The Register of Members and Share Transfer Books will remain closed from September 18, 2026 to September 24, 2026 (both days inclusive). Remote e-voting will be available from September 20, 2026 at 9:00 am to September 23, 2026 at 5:00 pm through the National Securities Depository Limited (NSDL) platform. Members may also vote electronically on the day of the AGM through the same platform.

M/s. Bajaj Todi & Associates, Practicing Company Secretaries, has been appointed as Scrutinizer to oversee the voting process. The Company Secretary has confirmed that physical attendance is dispensed with in compliance with Ministry of Corporate Affairs circulars. The AGM notice and Annual Report 2025-26 are available on the company's website at www.mstcindia.co.in .

FY26 financial highlights

The Annual Report 2025-26, submitted to the stock exchanges pursuant to Regulation 34(1) of the SEBI Listing Regulations, contains the following standalone financial highlights:

On a consolidated basis, Profit After Tax stood at ₹21,843 lakhs for FY26, compared to ₹40,707 lakhs in FY25. The company's joint venture, Mahindra MSTC Recycling Private Limited, recorded a loss of ₹939.10 lakhs for FY26, narrowing from ₹1,193.75 lakhs in FY25.