MSTC Limited

MSTC Limited
Native name
MSTC Limited
Company typeCentral Public Sector Undertakings
BSE: 542597
NSE: MSTCLTD
IndustryE-commerce
Founded9 September 1964 (9 September 1964)
HeadquartersKolkata
Key people
Manobendra Ghoshal (Chairman & Managing Director)
ProductsE-auction, e-procurement, e-sales, retail software
RevenueDecrease ₹879.16 crore (US$110 million) (2022)[1]
Increase ₹199.09 crore (US$25 million) (2022)[1]
OwnerMinistry of Steel, Government of India
Websitewww.mstcindia.co.in

MSTC Limited (formerly known as Metal Scrap Trade Corporation Limited) is a central public sector undertakings under the Ministry of Steel, Government of India. It is involved in diversified e-commerce services. Its corporate office is in Kolkata, West Bengal with regional branch offices in various other cities. The company reported a net profit of INR 112.95 crore for fiscal year 2020-21. Incorporated on 9 September 1964, MSTC has 344 employees (as on 31 March 2020).

MSTC renders service to various e-commerce sectors, including e-auction, e-procurement, high sea sales, e-sales, and retail software. MSTC had developed software to conduct online draw for new LPG distribution ship scheme which was conducted by state run oil marketing psu's all over India.[2] MSTC as of 2018 was also in the process of developing an online portal for divestment of state-owned entities through an English auction system.[3]

The PSU has its head office in Kolkata, West Bengal; four regional offices in Kolkata, Delhi, Mumbai and Chennai; and branch offices in Chandigarh, Jaipur, Vadodara, Bhopal, Bhubaneswar, Guwahati, Bangalore, Lucknow, Ranchi, Raipur, Vizag, Trivandrum, Hyderabad, Patna and Dehradun. FSNL (Ferro Scrap Nigam Limited) is a subsidiary of MSTC.[4]

History

  • 1964 - Incorporated as a regulatory body for export of scrap.
  • 1982 - Independent company under Ministry of Steel.
  • 2002 - Awarded Miniratna Category-II status.
  • 2004 - Started auctioning of coal.
  • 2005 - Awarded Miniratna Category-I status.
  • 2007 - Started e-auction of manganese ore.
  • 2011 - Started e-auction of iron ore in Karnataka, and human hair.[5]
  • 2012 - Started e-auction of chrome ore, baryte, raw pet coke.
  • 2013 - Started e-auction of forest produces.
  • 2014 - Started e-auction of iron ore in Goa and red sanders wood in Andhra Pradesh.[6]
  • 2015 - E-auction of coal mine blocks[7] and regassified LNG.[8]
  • 2016 - Developed e-bidding platform under DDUGJY & IPDS, DEEP and allocation of marginal oil field.[9]
  • 2017 - Developed ERAKAM portal to provide e-auction platform to sell agriculture produce.[10]
  • 2018 - Developed Online LPG Distributorship Draw Software for Oil Marketing Companies.[11]

Presence in India

MSTC is headquartered in New Town, Kolkata.

MSTC have offices at 21 locations across India.[12] There are four regional offices, 13 branch offices and 1 site office Patna (Bihar).

Ownership

The company is under the administrative control of Ministry of Steel, Govt. of India. Currently 64.75% share of the company is held by Govt. of India.

CERO

CERO is a joint venture of MSTC Ltd. and Mahindra Accelo.[13] This Joint Venture company has set up the first auto shredding plant in India for recycling end of life vehicles and other white goods by converting these into shredded scrap which is a vital raw material of secondary steel plants, located in Greater Noida.

Financials

MSTC reported total income of Rs.879.16 crores during the financial year ended March 31, 2023 as compared to Rs.1123.32 crores during the financial year ended March 31, 2022. The company has posted net profit of Rs.241.9567 crores for the financial year ended March 31, 2023 as against net profit of Rs.199.0958 crores for the financial year ended March 31, 2022.[1]

Awards

  • Kolkata Best Employer Brand Awards 2017 by Employer Branding Institute, India[14]

References

  1. ^ a b c "MSTC Ltd consolidated Q4 FY2023 PAT increases QoQ to Rs. 76.95 crores". EquityBulls. 23 May 2023. Retrieved 9 June 2023.
  2. ^ Jacob, Shine (28 December 2017). "LPG dealership expansion gains pace". Business Standard. Retrieved 30 May 2019.
  3. ^ Majumder, Arindam (7 May 2018). "E-bidding: Govt to explore English auction system for disinvestment". Business Standard India – via Business Standard.
  4. ^ "FSNL - Ferro Scrap Nigam Ltd".
  5. ^ Jacob, Shine (30 November 2011). "Q&A: S K Tripathi, CMD, MSTC". Business Standard India – via Business Standard.
  6. ^ Bureau, Andhra Pradesh (24 July 2014). "Stage set for e-auction of red sanders". The Hindu – via www.thehindu.com.
  7. ^ Mazumdar, Rakhi (7 May 2018). "MSTC to conduct E-auction of coal blocks, mjunction cries foul". The Economic Times.
  8. ^ PTI (15 September 2015). "Bidding starts for imported LNG subsidy; 16 power companies in fray".
  9. ^ Jacob, Shine (16 February 2017). "Cabinet awards 31 oil blocks to 22 firms". Business Standard India – via Business Standard.
  10. ^ "Government launches e-RaKAM portal for selling agri produce". The Economic Times.
  11. ^ Jacob, Shine (28 December 2017). "LPG dealership expansion gains pace". Business Standard India – via Business Standard.
  12. ^ "Contact Us | MSTC Limited" – via MSTC LTD.
  13. ^ "CERO (Mahindra MSTC Recycling Pvt. Ltd.) is India's First Authorized Recycler of Vehicles". www.mahindra.com. Retrieved 16 April 2022.
  14. ^ "Employer Branding Awards". employerbrandingawards.com.

External links

  • MSTC
  • FSNL
  • DDUGJY
  • DEEP
  • CERO
  • ERAKAM
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