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M M T C Limited
Sector:Others Others - Trading
BSE:513377NSE:MMTCBloomberg:MMTC@INReuters:MMTC.BO
Market Lot: 1Face Value: 1ISIN Demat: INE123F01029
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14-Feb-2017
Business Profile
MMTC India (MMTC) is a state-owned international trading company in India. It was incorporated on Sep 26, 1963.

The company engages in import and export of precious metals, minerals, metals, coal and hydrocarbons, agro products and fertilizers. It has trading activities in iron, manganese and chrome ore; gold, silver and platinum; ferrous and non-ferrous scrap; non-ferrous metals like copper, aluminum, zinc, lead, tin and nickel; minor metals like magnesium, antimony, silicon mercury and industrial raw materials like asbestos and steel; LAM coke, coking coal and steam coal; finished fertilizers, fertilizer intermediaries and fertilizer raw materials; agro products like wheat, rice, maize, soyabean meal, sugar, edible oil and pulses.

Late in 2007, the company became the country`s most valued public sector firm by toppling oil exploration major Oil and Natural Gas Corporation from this position. The company has MMTC Transnational, Singapore as a subsidiary and has set up Neelachal Ispat Nigam, an iron and steel plant with capacities of 1.1 million tons and 0.8 million tons of coke ovens with a captive power plant, jointly with the Government of Orissa, incurring a total capital expenditure of nearly Rs 20,000 million.

With offices across India and overseas in Tokyo and Dubai, the company has a global reach with exports to Japan, South Korea, China and the Middle East among other countries. The registered office of the company is located at Scope Complex Core-1, 7 Institutional Area, Lodhi Road, New Delhi-110003.


Financials
The company disclosed rise of 274.21% in standalone net profit on y-o-y basis to Rs 744.30 million, while total income increased 36.15% y-o-y basis to Rs 49.50 billion for the quarter ended December 2016.

Recent Developments
09-DEC-16
M M T C announced a substantial drop in standalone net profit for the quarter ended September 2016. During the quarter, the profit of the company declined 76.57% to Rs 104.50 million from Rs 446.00 million in the same quarter last year.

21-JAN-16
MMTC, India's largest foreign trade enterprise, announced that the company has divested its 10% equity stake in its JV company i.e. Indian Commodity Exchange amounting to Rs 100 million face value at a sum of Rs 200 million to the two bidders who participated in the Global Tender Process floated by the company earlier.

21-MAY-15
TC disclosed a steady growth in standalone net profit for the quarter ended March 2015. During the quarter, the profit of the company rose 16.04% to Rs 379.80 million from Rs 327.30 million in the same quarter previous year.

11-FEB-15
Net sales for the quarter rose 36.86% to Rs 65,478.60 million, compared with Rs 47,845 million for the prior year period.

13-JAN-14
Credit Analysis & Research (CARE) has upgraded the long-term rating of MMTC to A+ from AA for Rs 2 billion long-term bank facilities. CARE reaffirmed 'A1+' ratings to the company's short-term bank facilities of Rs 54.50 billion.

30-OCT-13
A cheque of Rs 90 million was presented here today to union minister of commerce & industry Anand Sharma by D S Dhesi, additional secretary, department of commerce and CMD, Metals and Minerals Trading Corporation of India (MMTC) towards 10% dividend for fiscal 2012-13.

16-SEP-13
MMTC, India's largest foreign trade enterprise, has called 50th annual general meeting (AGM) on Monday, Sept. 30, 2013 to consider and approve the balance sheet and profit & loss account for the year ended Mar. 31, 2013.

14-AUG-13
M T C disclosed a drop in standalone net profit for the quarter ended June 2013. During the quarter, the profit of the company declined 50.08% to Rs 60.20 million from Rs 120.60 million in the same quarter last year.



Future Plans
MMTC has plans of setting up a 50 MW wind energy project at an investment of over Rs. 2,500 million. The plant will be constructed in three phases.

In Brief

 
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