Steel Minister Narendra Singh Tomar Receives Dividend Cheque from MSTC
Steel Minister Narendra Singh
Tomar Receives Dividend Cheque from MSTC
MSTC declared dividend at 207 percent of paid up equity capital for the financial year 2014-15
MSTC declared dividend at 207 percent of paid up equity capital for the financial year 2014-15
The Union Minister
of Steel & Mines Shri Narendra Singh Tomar was handed over the
dividend cheque for the financial year 2014-15 for an amount of Rs.16.37 Crore
by Shri S. K. Tripathi, CMD MSTC in New Delhi today. MSTC’s dividend was
declared at 207 percent of the paid up equity capital for the financial
year 2014-15 in the Annual General Meeting held on 14th September
2015 at Kolkata. MSTC has also declared issue of Bonus Share at 1:1 ratio.
MSTC is a Mini
Ratna category 1 PSU under Ministry of Steel. It is a profit making and dividend
paying company. MSTC closed the financial year 2014-15 with a Profit before Tax
(PBT) of Rs.131.47 Crore.
Total volume of
business during the year is Rs. 29923 Crore – a growth of about 19%. There has
been an increase in company’s reserve by around 11%.
In the year
2014-15 MSTC created history and successfully auctioned 29 coal blocks and
allotted 41 coal mining blocks to steel, cement & power sector and State
owned entities in a transparent and fair manner as a follow up of Supreme Court
directive. MSTC also conducted Global e-Tender-cum-e-Auction in
multi-currency of Red Sander Wood for Andhra Pradesh valuing Rs. 850
Crore. All these businesses made MSTC one of the largest e-commerce
companies in the country.
MSTC promotes the
policy of the Government of India for adopting e-Governance for ensuring
efficiency, economy and equity in Government business decisions by its
work. “Sabka Vikas –MSTC ke Saath”
About MSTC Limited
· MSTC limited (formerly known
as Metal Scrap Trade Corporation Limited) was incorporated under the Companies
Act, 1956 on 9th September, 1964.
· In 1974, it became a
subsidiary of Steel Authority of India Limited (SAIL). In 1982, MSTC was
converted into a Government of India Company transferring the shares of SAIL to
the President of India. In 2002, awarded Mini Ratna Category II
status. In 2005 awarded Mini Ratna Category I status.
· This company was canalizing
agency for import & export of scrap in the country. After
decanalization of scrap, MSTC diversified its operation and is presently
engaged mainly into providing e-auction/ e-procurement services. Under this
segment, the Company undertakes disposal of ferrous and non-ferrous scrap
arisings, surplus stores, condemned plants, Agri products etc from Public
Sector Undertakings and Government Departments including Defence.
· MSTC has a total strength of
307 employees as on 31.03.2015 and has a net worth of Rs 694.23 Crores.
Capital Structure
The Company has an
authorized capital of Rs 50.00 Crore and paid up capital is Rs 8.80 Crore as on
31.03.2015 of which 89.85 % is held by the Government of India and balance
10.15 % is held by erstwhile members of Steel Furnaces Association of India,
Iron and Steel Scrap Association of India and others.
Location Of Units
The registered and
corporate office of the Company is located at Kolkata and it has four Regional
offices at Kolkata, Delhi, Chennai and Mumbai; three branch offices at
Visakhapatnam, Bangalore and Vadodara and six site offices at Bhopal,
Hyderabad, Lucknow, Bhubaneswar, Trivandrum, Trichy and Jaipur.
Activities
The Company has
two major division of activities i.e. e-Commerce and Trading.
e-Commerce
Under this
segment of business, MSTC acts as a standalone and neutral e-commerce service
provider to various Central/State Government Departments and other entities to
ensure transparent and fair sale and purchase decisions. MSTC has evolved
as the only PSU under this segment of business and grown to become one of the
largest companies in India in e-Commerce sector.
Details of
performance of e-Commerce division for the last five years are given below:
(Rs in Crore)
|
Year
|
2009-10
|
2010-11
|
2011-12
|
2012-13
|
2013-14
|
2014-15
|
|
e-Commerce
|
6353.57
|
8167.75
|
16005.03
|
15482.46
|
19395.25
|
22977.34
|
Trading
Trading- Import/ Export and domestic
trade of mainly bulk industrial raw material for actual users. This division
looks after sourcing, purchase and sales of industrial raw materials like Heavy
Melting Scrap, Low Ash Metallurgical Coke, HR Coil, Naptha, Crude Oil, Coking
Coal, Steam Coal etc on behalf of industries.
Details of
performance of Marketing Division for the last five years are given below:-
(Rs in Crore)
|
Year
|
2009-10
|
2010-11
|
2011-12
|
2012-13
|
2013-14
|
2014-15
|
|
Trading
|
6384.87
|
5933.02
|
5746.15
|
10024.20
|
7488.15
|
6945.21
|
The physical and
financial performance of the company is given below:
(Rs in Crore)
|
Items
|
2011-12
|
2012-13
|
2013-14
|
2014-15
|
|
PHYSICAL
|
|
|
|
|
|
e-Commerce
|
16005.03
|
15482.46
|
19395.25
|
22977.34
|
|
Trading
|
5746.15
|
10024.20
|
7488.40
|
6945.21
|
|
Total Volume of Business
|
21751.18
|
25506.66
|
26883.65
|
29922.55
|
|
FINANCIAL
|
|
|
|
|
|
Turnover
|
2695.92
|
6455.25
|
5330.27
|
5506.48
|
|
Operating Profit
|
178.23
|
195.85
|
121.36
|
130.19
|
|
Depreciation
|
2.08
|
2.45
|
1.95
|
(1.28)
|
|
Exceptional Item
|
-
|
-
|
226.78
|
-
|
|
Profit before Tax
|
176.15
|
193.40
|
(107.37)*
|
131.47
|
|
Profit after Tax
|
118.39
|
130.73
|
(70.03)*
|
90.99
|
Dividend (%)
|
1077%
|
300%
|
-
|
207%
|
*
Due to a provision of Rs
226.78 Crore during 2013-14 against old outstanding from foreign buyers of Gold
Jewellery exported during the period 2007-09
MOU rating of the
Company
|
2009-10
|
2010-11
|
2011-12
|
2012-13
|
2013-14
|
2014-15
|
|
Excellent
|
Very Good
|
Excellent
|
Excellent
|
Very Good
|
Excellent(Prov.)
|
Composition of
Board of Directors of MSTC Limited
|
|
1
|
Functional Director
including CMD
|
3
|
|
|
2
|
Part time Official Directors
(Government Directors)
|
2
|
|
|
3
|
Non-official part-time
Directors
|
2 (1 position Vacant since
20/06/2014)
|
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