The Union Minister of Steel & Mines Narendra Singh Tomar was handed over the dividend cheque for the financial year 2014-15 for an amount of Rs16.37 crore by SK Tripathi, CMD MSTC in New Delhi. 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 September 14 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 Rs131.47 crore.
Total volume of business during the year is Rs 29923 Crore — a growth of about 19 per ecnt. There has been an increase in company’s reserve by around 11 per cent.
In the year 2014-15 MSTC created history and successfully auctioned 29 coal blocks and allotted 41 coal mining blocks to steel, cement and 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