Last 57.65 INR
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mmtc ltd (MMTC) Snapshot

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06/11/14 - 106.80
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03/4/14 - 45.30
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mmtc ltd (MMTC) Details

MMTC Limited operates as a trading company in India and internationally. The company operates through Precious Metals, Metals, Minerals, Coal & Hydrocarbon, Agro Products, Fertilizer, and General Trade/Others segments. It exports mineral products comprising iron ore, manganese ore, chrome ore, mud chemicals, barytes, bentonite, bauxite, talc, gypsum, feldspar, quartz/silica sand, garnet sand, kaolin, and vermiculite. The company is also involved in the import, export, and retail trade of precious metals, such as gold, silver, platinum, palladium, rough diamonds, emeralds, rubies, and other semi-precious stones; operation of jewelry showrooms and sterling silverware showrooms under the Sanchi brand name; and manufacture of gold and silver medallions. In addition, it imports and exports non-ferrous metals comprising copper, aluminum, zinc and lead ingots, tin ingots, nickel, briquettes, ferro nickel, etc.; minor metals, including antimony, silicon, magnesium, and mercury; industrial raw materials, noble metals, and ferro alloys; and pig iron and slag products. Further, the company is engaged in the trade of various agro products, such as wheat, rice, maize, soya bean meal, sugar, edible oil, pulses, wheat flour, and processed foods; and plantation products comprising tea, coffee, jute, etc., as well as in the oilseed extraction, and production of edible oil. Additionally, it imports and sells finished fertilizers, including urea, di-ammonium phosphate, and muriate of potash; and fertilizer raw materials and intermediates comprising sulphur, rock phosphate, phosphoric acid, and ammonia. The company is trades coal and hydrocarbon products, such as non-coking, coking coal, naphtha, LAM coke, furnace oil, and bitumen; and various other products comprising chemicals, drugs, pharmaceuticals, paraffin wax, PVC resins, granules wool and cotton, cement, clinker, security equipment, and engineering products. MMTC Limited was founded in 1963 and is based in New Delhi, India.

1,530 Employees
Last Reported Date: 08/13/14
Founded in 1963

mmtc ltd (MMTC) Top Compensated Officers

Chairman, Managing Director, Director of Mark...
Total Annual Compensation: 3.2M
Director of Finance, Whole Time Director, Mem...
Total Annual Compensation: 2.7M
Director of Personnel, Whole Time Director, M...
Total Annual Compensation: 3.7M
Director of Marketing, Executive Director, Me...
Total Annual Compensation: 2.5M
Director of Marketing and Executive Director
Total Annual Compensation: 1.9M
Compensation as of Fiscal Year 2014.

mmtc ltd (MMTC) Key Developments

MMTC Ltd. Announces Management Changes

Shri Ved Prakash, director(marketing), MMTC Ltd. has assumed the charge of the post of chairman-cum-managing director, MMTC Limited in addition to his position of director(marketing), effective 31 December 2014, vice Shri D S Dhesi, additional secretary, Department of Commerce, Ministry of Commerce & Industry who relinquished the charge of CMD, MMTC Ltd. on 30th December 2014. Shri Ved Prakash, aged 54 years, is an Alumnus of IIT, Delhi and 1IM, Kolkata. Shri Ved Prakash has a varied and long experience of more than 24 years in MMTC in International Trade, Domestic Marketing, Systems, Corporate Planning and has been closely associated with trade related Projects set up by MMTC under Joint Ventures which include NINL Steel Plant, Wind Power Projects, etc.

Government Is Reportedly Set Up To Privatize Some State-Owned Companies

The government is set to try a new approach to stake sales in state-owned companies from early 2015-2016. Business Standard has learnt the finance ministry’s department of disinvestment (DoD) has in its new rolling list included almost all PSUs, among them those in which the government’s stakes need to be brought down to 75% in the next two and a half years. While yearly targets for disinvestment will likely be set in the Budget as usual, the DoD will choose from a basket of companies to meet them based on market conditions and ease of regulatory approvals. “We are first looking to divest companies in which the public shareholding can be taken up to 25% in one tranche. After that we will look at companies that require multiple tranches to bring down the Centre’s stake to 75%,” said a senior government official who did not wish to be named. Some of the companies in which government holds more than 75% stakes include Coal India Limited (BSE:533278), National Aluminium Co. Ltd. (BSE:532234), NHPC Ltd. (BSE:533098), NMDC Limited (BSE:526371), Indian Tourism Development Corporation, MMTC Ltd. (BSE:513377) and National Fertilizers Ltd. (BSE:523630). Although Coal India and NHPC are part of the roadmap for 2014-15 and may be divested by January 2015, the Centre will have to go in for another 5% stake sale in the former after a 10% divestment brings down its shareholding to 80%. Some PSUs like HMT Ltd. (BSE:500191) and Scooters India Ltd. (BSE:505141) are making losses and thus are candidates for complete divestment or winding up. However, officials did not speak on this issue and said it was a separate matter being examined by the department of public enterprises, reported Business Standard. The DoD will take blanket Cabinet approvals, even for companies whose stake sales may be more than a year down the line. Sources said the whole process, starting with selecting merchant bankers and ending with a stake sale, might be compressed into just a month. “If the government and the company in question provide enough manpower, the roadshows can be completed in a week. That is what the DoD is planning,” a second official said. He added the DoD would not announce the companies' names beforehand and each proposed stake sale would become public only when the department put up RFPs on its website. The aim, according to officials, is to give stock market bears as little time to react as possible.

MMTC Ltd. Announces Unaudited Standalone Earnings Results for the Second Quarter and Six Months Ended September 30, 2014

MMTC Ltd. announced unaudited standalone earnings results for the second quarter and six months ended September 30, 2014. For the quarter, the company reported net sales/income from operations of INR 25,117.9 million against INR 73,264.1 million a year ago. Loss from operations before other income, finance costs and exceptional items was INR 388.9 million against profit of INR 132.0 million a year ago. Loss from ordinary activities before tax was INR 188.5 million against profit of INR 561.1 million a year ago. Net loss was INR 100.80 million or INR 0.10 per basic and diluted share after extraordinary items against INR 104.0 million or INR 0.10 per basic and diluted share after extraordinary items a year ago. Total Income has decreased from INR 75,118.40 million for the quarter ended September 30, 2013 to INR 25,477.60 million for the quarter ended September 30, 2014. For the six months, the company reported net sales/income from operations of INR 76,916.4 million against INR 161,496.1 million a year ago. Loss from operations before other income, finance costs and exceptional items was INR 70.3 million against profit of INR 164.8 million a year ago. Profit from ordinary activities before tax was INR 429.2 million against INR 559.5 million a year ago. Net profit was INR 306.9 million or INR 0.31 per basic and diluted share after extraordinary items against net loss of INR 53.8 million or INR 0.05 per basic and diluted share after extraordinary items a year ago.


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