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PRESS RELEASE Steel Minister Receives the Dividend Cheque From MSTC Limited New Delhi, 29 th September, 2015 Hon ble Steel Minister, Shri Narendra Singh Tomar was handed over the dividend cheque for the financial year 2014-15 for an amount of `16.37 Crore by Shri S. K. Tripathi, CMD/MSTC today. In the Annual General Meeting held on 14 th September 2015 at Kolkata, MSTC s dividend was declared at 207% of the paid up equity capital for the financial year 2014-15. MSTC has also declared issue of Bonus Share at 1:1 ratio. MSTC is a Mini Ratna category I 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 `131.47 Crore. Total volume of business during the year is `29923 Crore a growth of about 19%. There has been an increase in company s reserve by around 11%. In the year 2014-15, as a follow up of Supreme Court directive MSTC created history and successfully auctioned 29 and allotted 41 coal mining blocks to steel, cement & power sector and State owned entities in a transparent and fair manner. MSTC also conducted Global e-tender-cume-auction in multi-currency of Red Sander Wood for the state of Andhra Pradesh valuing `850 Crore. All these businesses made MSTC one of the largest e-commerce companies in the country. By its work, MSTC promotes the stated policy of the Government of India for adopting e-governance for ensuring efficiency, economy and equity in Government business decisions. Sabka Vikas MSTC ke Saath
BRIEF OVERVIEW OF MSTC LIMITED MSTC limited (formerly known as Metal Scrap Trade Corporation Limited) was incorporated under the Companies Act, 1956 on 9 th 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 is 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 networth of `694.23. 2. CAPITAL STUCTURE The Company has an authorized capital of `50.00 Crore and paid up capital is `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. 3. 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. 4. ACTIVITIES The Company has two major division of activities i.e. e-commerce and Trading. (1) 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
(2) 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:- (` in Crore) Items 2011-12 2012-13 2013-14 2014-15 A) 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 B) FINANCIAL (i) Turnover 2695.92 6455.25 5330.27 5506.48 (ii) Operating Profit 178.23 195.85 121.36 130.19 (iii) Depreciation 2.08 2.45 1.95 (1.28) (iv) Exceptional Item - - 226.78 - (v) Profit before Tax 176.15 193.40 (107.37)* 131.47 (vi) Profit after Tax 118.39 130.73 (70.03)* 90.99 (vii) Dividend (%) 1077% 300% - 207% * Due to a provision of ` 226.78 Crore during 2013-14 against old outstanding from foreign buyers of Gold Jewellery exported during the period 2007-09 5. 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.) 6. Composition of Board of Directors of MSTC Limited 1 Functional Director including CMD 3 2 Part time Official Directors(Government 2 Directors) 3 Non-official part-time Directors 2 (1 Vaccant since 20/06/2014) ************