Dividend 207% - MSTC Limited

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PRESS RELEASE
Steel Minister Receives the Dividend Cheque From MSTC Limited
New Delhi, 29th 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 14th 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 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 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 ecommerce 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)
2014-15
Items
2011-12
2012-13
2013-14
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
Excellent
Very Good
Excellent
Excellent
6.
2013-14
Very Good
2014-15
Excellent(Prov.)
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
20/06/2014)
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since