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MSTC gains as Delhi EV Policy boosts vehicle scrappage prospects
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(10:44, 30 Jun 2026)
The policy will come into effect on 1 July 2026 and remain in force until 31 March 2030. It offers purchase subsidies and vehicle scrappage incentives to accelerate electric vehicle adoption in the national capital.

Buyers of electric cars priced up to Rs 30 lakh will receive a 100% exemption from road tax and registration fees. The policy also provides incentives of up to Rs 30,000 for electric two-wheelers, Rs 50,000 for electric three-wheelers and Rs 1 lakh for electric N1 goods vehicles.

The Delhi government has earmarked more than Rs 1,500 crore for vehicle scrappage incentives. Buyers scrapping old ICE vehicles to purchase EVs will receive incentives of Rs 1 lakh for four-wheelers, Rs 10,000 for two-wheelers, Rs 25,000 for three-wheelers and Rs 50,000 for N1 commercial trucks.

The policy also targets the expansion of Delhi's EV charging network to more than 30,000 charging points. From 1 January 2027, only new electric auto-rickshaws and N1 goods carriers will be registered. From 1 April 2028, only new electric two-wheelers will be eligible for registration.

MSTC could benefit from the scrappage programme as it auctions scrap, obsolete machinery, surplus assets and end-of-life vehicles. The company, a Mini Ratna Category-I PSU under the Ministry of Steel, operates one of India's largest e-auction platforms. It auctions ferrous and non-ferrous scrap, end-of-life vehicles and surplus assets for government departments, defence establishments and public sector undertakings.

On a consolidated basis, MSTC's net profit rose 2.26% to Rs 77.22 crore while net sales rose 33.71% to Rs 118.80 crore in Q4 March 2026 over Q4 March 2025.

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