Subject : MMTC POSTS HIGHEST EVER BOTTOMLINE --DECLARES 35% INTERIM DIVIDEND FOR FY 2007-08
Date :      January 30, 2008

MMTC, the largest international trading company of India, has declared interim dividend payout of 35% for 2007-08. During the first nine months of the current year, MMTC achieved its highest ever trading profit of Rs.250.87 crores which is 54% higher than trading profit earned by the company during corresponding period last fiscal. The Profit before tax earned by the company amounted to Rs. 177.53 crores as against the Profit before tax of Rs. 118.75 crores earned by the company during April06 – Dec06. MMTC has reported its highest ever  Profit after tax of Rs 115.53 crores which is 33% higher than the Profit after tax earned by the company during corresponding period last fiscal.

2.       During the period MMTC recorded business volumes of Rs.16884 crores, which includes export business of Rs.2721 crores and import transactions totaling Rs. 13350 crores.  MMTC’s domestic trade during the period was at Rs.813 crores.

 3.      MMTC, a Company with a net worth of over Rs. 950 crores & zero long term debt has, secured earnings per share of Rs. 23.11, which on an annualized basis translates to Rs. 30.81 earning per share of Rs. 10 face value each.

4.       To accelerate growth and enhance its future sustainability, MMTC is following Public Private Partnership route and has embarked upon various strategic initiatives which include, in broad terms, setting up of a commodity exchange jointly with India Bulls, joining hands with an international producer as a joint venture partner for setting up a gold /silver medallion manufacturing unit, which would also include a gold refinery as an integral part. For effective marketing of the finished products from this unit, as well as jewellery from other sources, MMTC plans to set up in partnership with a leading Indian company, a chain of retail stores at various cities in India for medallions, jewellery and its homegrown brand of ’SANCHI’ silverware. MMTC has also applied for iron ore mining leases which will be a precursor to MMTC’s setting up of an iron ore pelletization plant for adding value to iron ore sourced from such mines. MMTC is setting up of free trade and warehousing zones on lines similar to Special Economic Zones, at Kandla, Haldia and Greater Noida.

5.       The company has stated that such strategic initiatives effectively integrate vertically, both backward and forward, to encompass the entire gamut of the value chain from mines to markets.

Subject : MMTC RECORDS HIGHEST EVER TOPLINE & BOTTOMLINE
Date :      October 30, 2007

MMTC, India’s largest international trading company with net worth of over Rs. 900 crore and zero long-term debts has reported its highest ever half yearly turnover since its inception, of Rs. 11,999 crores during April-September 2007 which includes its best ever export performance at Rs. 1691 crores - increase of 16% over the performance during the corresponding period of last year and highest Import performance of Rs. 9779 crores - 9% higher than the corresponding performance during the last fiscal.

MMTC’s initiatives to enhance operating efficiencies, controlling operating costs and prudent fund management enabled it to achieve its highest ever half yearly trading profit of Rs. 153 crores registering a substantial growth of 52% over corresponding performance last fiscal. Also the highest ever net profit (after tax) at Rs. 76.36 crore earned by the company registered an increase of 30% over the net profit earned during April- September 2006.

MMTC attributed this historical performance to success of its aggressive marketing strategies focused on expanding the market and product profile, besides consolidating core areas of competencies. The company has further reiterated its dedication to aggressively pursue its efforts for achieving consistent growth in future to provide sustainable returns to stakeholders.

Subject : MMTC RECORDS HIGHEST EVER TRADE TURNOVER AND PROFITS, PAYS 25% FINAL DIVIDEND FOR 2006-07
Date :      October 24, 2007

1. A cheque for Rs.12.42 crore was presented today to Shri Kamal Nath, Hon’ble Minister for Commerce & Industry by Shri Sanjiv Batra, CMD, MMTC Limited towards 25% final dividend for fiscal 2006-07. MMTC, the largest international trading company of India, at its 44th Annual General Meeting held on 27/9/2007, had declared dividend pay out of 50% for 2006-07, which included interim dividend of 25% already paid to the shareholders in March 2007.

2. During 2006-07 MMTC exhibited outstanding performance by achieving its Highest ever trade turnover of Rs. 23,302 crore thereby registering a growth of 42% over the previous year’s performance.  This best ever business turnover since MMTC's inception in 1963 includes Exports of       Rs. 3,413 crore and imports of Rs. 18,607 crore - superlative performance levels over the last 44 years – with the balance accounting for by domestic trading. 

3. The net profits earned by the company reached a new peak of Rs.127 crore during the year.  Highest ever profits, despite pressure on margin, was realized through aggressive marketing strategies, diversification in new areas, better fund management and prudent tax planning.  With this, the company has realized best ever earning per share of Rs. 25.36 on a face value of Rs.10.  The company has taken several strategic initiatives to improve logistics, service quality and other aspects of operational efficiency so as to provide long-term sustainability to the future operations.

4. After providing for dividends and transfer of surplus to general reserves, MMTC’s net worth has increased to over Rs.880 crores with ‘zero’ long-term debt.  With this net worth and projected revenue, MMTC has set out ambitious plans to promote many new projects in future.

5. Sh. Sanjiv Batra CMD MMTC stated that in identifying areas of investment, MMTC has maintained its focus on its role as a trade organizer and trade facilitator.  In the area of logistics, MMTC has already promoted development of a temporary jetty at Ennore port for loading iron ore to decongest Chennai port. MMTC also intend to acquire an equity stake in the consortium, which has undertaken the project for construction of a permanent iron ore-loading berth at Ennore in lieu of the temporary jetty. To facilitate promotion of two-way trade, MMTC is progressing satisfactorily on setting up of free trade and warehousing zones on lines similar to Special Economic Zones, at certain identified locations in India. As part of the FTWZ initiative, in order to provide non-ferrous metals supplies at the customers’ doorstep, MMTC also proposes to open an LME (London Metal Exchange) warehouse in India. MMTC has already invested in five railway rakes under “Own your Wagons” scheme of Indian Railways, which has helped MMTC to ease to some extent the logistics issues related to movement of goods from producing areas to ports.

6. Diversifying into the area of clean, non-conventional and renewable energy sources MMTC has also set up a 15 MW Wind Energy farm in the state of Karnataka, which has since been commissioned earlier this year. The plant is already generating power, which is being sold to the state electricity grid by MMTC.

7. Sh. Batra further stated that the other strategic initiatives to enhance MMTC’s future sustainability include, in broad terms, setting up of a commodity exchange jointly with India Bulls, joining hands with an international producer as a joint venture partner for setting up a gold /silver medallion manufacturing unit, which would also include a gold refinery as an integral part.  For effective marketing of the finished products from this unit, as well as jewellery from other sources, MMTC plans to set up in partnership with a leading Indian company, a chain of retail stores at various cities in India for medallions, jewellery and its homegrown brand of ’SANCHI’ silverware. As a measure of investing in mining infrastructure MMTC had applied for and has been allotted a coalmine in Jharkhand having estimated reserves of about 700 million MT, exploration of which would be commenced soon.  MMTC has also applied for iron ore mining leases which will be a precursor to MMTC’s setting up of an iron ore pelletization plant for adding value to iron ore sourced from such mines.

8. Sh Batra also stated that such strategic initiatives effectively integrating vertically, both backwards and forwards, to encompass the entire gamut of the product process from the stage of manufacture to distribution to the ultimate consumer, shall continue to be undertaken in the future also to enhance MMTC’s competitive position and to maintain the current pre-eminent position being enjoyed in its fields of business.

Subject : MR. SANJIV BATRA, CMD MMTC AWARDED “INTERNATIONAL TRADING MAN OF THE YEAR”
Date :      August 03, 2007

Mr. Sanjiv Batra, Chairman and Managing Director, MMTC Limited was today honoured with “International Trading Man of the Year” Award at the 5th Business Sphere Conclave Award function in New Delhi.

The Award was conferred on him by Shri Oscar Fernandes, Minister of State for Labour & Employment in the presence of His Excellency Dr. A.R. Kidwai, Governor of Haryana, Dr. Bhisham Narain Singh, Former Governor and Cabinet Minister, Shri Mangat Ram Singhal, Minister of Industries, Labour, Employment, Govt. of Delhi, Shri G.K Gupta, President FIEO, Mr. Sanjay Bhatia, President PHDCCI and G.R. Khatter, Editor-in-Chief Business Sphere.

The award was given to leading business persons heading organizations which are number one in their respective fields, based on last three years’ growth rate, annual turnover, quality of products, exports, net sales, net profits, increase in productivity, return to shareholders and a host of other parameters, in particular performance of previous year.

MMTC, India’s largest international trading house recorded a 42% growth in business volume during fiscal 2006-07. Against a turnover of Rs. 16, 362 crores in 2005-06, it achieved its highest ever turnover of Rs. 23,302 crores during fiscal 2006-07 which includes best ever export of Rs. 3413 crores, all time high import of Rs. 18,608 crores and domestic trade at Rs. 1281 crores. During the period, MMTC posted net profit after tax at Rs. 126.80 crores, which is the highest ever generated by MMTC since its inception in 1963 and net worth of over Rs. 900 crores coupled with zero long term debt.

During April – June, 2007 MMTC recorded its highest ever first quarter turnover of Rs.6079 crores, which is 11% higher than the performance during corresponding quarter April – June, 2006. This turnover figure includes export of Rs.746 crores, import of Rs.5093 crores and domestic trade of Rs.240 crores. During the first quarter of 2007-08 MMTC also achieved highest ever-quarterly net profit (after tax) of Rs.38.93 crores.

Subject : MMTC RECORDS HIGHEST EVER NET PROFIT IN ANY QUARTER
Date :      August 02, 2007

MMTC, India’s largest international trading company has reported its highest ever first quarter turnover of Rs. 6079 crores, which is 11% higher than the corresponding performance during April-June 2006 quarter. MMTC is India’s largest exporter of Minerals, leading exporter/ importer of Agri commodities, single largest importer/supplier of Metals & Bullion and a major player in Coal imports in the country. The company commands extensive market coverage in over 65 countries across the globe and its domestic network is spread across 76 offices, warehouses and retail outlets.

MMTC’s export performance during April-June 2007 at Rs. 746 crores witnessed an increase of 7% over the performance during the corresponding period of last year. The company also registered import revenues of Rs. 5093 crores, which is about 14% higher than the corresponding performance during the last fiscal. MMTC also registered a domestic trade performance of Rs.240 crores during April-June 2007.

MMTC’s initiatives to enhance operating efficiencies, for controlling operating costs and prudent fund management enabled it to achieve its highest ever quarterly net profit (after tax) of Rs. 38.93 crore which is about 17% higher than the net profit earned during April- June 2006.

During the quarter ended June 2007, MMTC – a Company with net worth of over Rs. 900 crore and zero long-term debts, has acheived earnings of Rs. 7.79 per share, which on an annualized basis works out to Rs. 31.16 per share of face value Rs. 10 each.

While announcing the results for the April-June 2007 quarter in the Board meeting held on 24th July 2007, Shri Sanjiv Batra CMD MMTC attributed the improved performance to aggressive marketing strategies focused on expanding the market and product profile, besides consolidating core areas of competencies. Shri Batra further reiterated MMTC’s dedication to aggressively pursue its efforts for achieving consistent growth in future to provide sustainable returns to stakeholders.

Subject : MMTC RECORDS HIGHEST EVER TOPLINE AND BOTTOM LINE – CROSSES Rs. 23,000 CRORE MARK
Date :      May 01, 2007

MMTC, the largest international trading company of India, has recorded 42% growth in business volumes during fiscal 2006-07. Against a turnover of Rs. 16,362 crores recorded during 2005-06 MMTC achieved its highest ever turnover of Rs. 23,205 crores during fiscal year 2006-07. The total turnover of Rs. 23,205 crores includes best ever exports of Rs. 3428 crores, all time high imports of Rs. 18,443 crores and domestic trade at Rs. 1334 crores.

2. During the period, MMTC posted net profit after tax at Rs. 125.90 crores, which is the highest ever, net profits generated by MMTC since its inception in 1963. The company’s net worth rose to a level of over Rs. 940 crores, with zero long-term debts. The earnings per share were Rs. 25.18 per share of face value Rs. 10/- each.

3. While announcing the financial results for the year 2006-07 in the company’s Board meeting held on 30.4.07, Shri Sanjiv Batra, CMD, MMTC attributed MMTC’s commendable performance to the success of strategic initiatives taken by the company reflecting the value creation through effective combination of goods, services and investment. The broad based growth in all business lines, debt free capital structure with adequate cash reserves and a sound net worth provided robust base for company’s future growth.

4. MMTC has recently commissioned 15 MW wind farms in Karnataka, which have started producing electricity. MMTC has also drawn ambitious business plans to expand its role as a trade organizer and facilitator by venturing into newer areas such as free trade warehousing zones, development of a cold chain, setting up of pellatization plant(s), entering into long-term strategic alliances for energy inputs and enlarging existing franchisee network to provide outlets for its ‘SANCHI’ brand silverware besides entering into iron ore and coal mining. The company would continue to pursue these efforts for achieving consistent growth in future and strengthen its base further, so as to provide value added services and sustainable returns to its stakeholders.

Subject : PROCEDURE FOR PROCUREMENT OF FERTILIZERS
Date :      April 24, 2007

MMTC is engaged in international trading of fertilizers and fertilizer raw materials. The fertilizer division of the Corporation is currently concentrating its efforts on trading of the following products:

(i) Di-Ammonium Phosphate
(ii) Muriate of Potash
(iii) Urea
(iv) Sulphur
(v) Ammonium Sulphate

Amongst the above products, except Ammonium Sulphate, other products are generally imported from different sources. The procurement is done on the basis of global tenders issued by the Fertilizer Division. These tenders are hosted on the Corporation’s website (www.mmtclimited.com) as also on the Government of India’s website (http://tender.gov.in). The tenders are also published in one English and one Hindi national daily, for wide circulation.

In the case of Urea, since the product is canalized and purchases are always made on the specific requirements of Department of Fertilizers, Government of India, as well as on specific requirements of complex manufacturers, the procedure for such purchases are on the line specified by the Department of Fertilizers. In the case of other products, the general procedures and guidelines for procurement of commodities through global tendering is followed. Every tender hosted on the website is accompanied by detailed tender document.

The division has started its attempt to procure fertilizers through the e-tendering route. The effort is to slowly switch over to the tendering and procurement exercise completely on electronic mode, for which all vendors participating in MMTC tenders on e-tendering mode are required to apply for registration on MMTC’s e-tendering site and they must have digital signature to participate in e-tendering.

Subject : MMTC ADJUDGED TOP TRADING COMPANY OF INDIA ONCE AGAIN POSTS HIGHEST EVER TOPLINE & BOTTOMLINE DECLARES 25% INTERIM DIVIDEND FOR FY 2006-07
Date :      April 05, 2007
MMTC- having been accorded No 1 ranking in the trading sector in the BS 1000 – Industry wise Survey released by the Business Standard recently has declared an interim dividend of 25 percent for the year 2006-07.

2. During the first ten months of the current fiscal MMTC achieved a business turnover of Rs.20232 crores – the highest ever achieved by MMTC in its history. This business turnover includes exports of Rs. 2700 crores imports of Rs 16415 crores and domestic trade at Rs 1117 crores.

3. MMTC, a Company with a net worth of over Rs. 900 crores & zero long term debt has, with a net profit after tax of about Rs. 94 crores during the period, secured earnings per share of Rs. 18.88, which on an annualized basis translates to Rs. 22.65 earning per share of Rs. 10 face value each.

4. While announcing the results for April 06 – Janurary, 2007 period in the Companys board meeting held on 07/03/07, Sh. Sanjiv Batra, CMD MMTC attributed this performance to companys strategic initiatives in logistics, service quality, resources management which MMTC would continue to pursue further for achieving consistent growth rate and develop trade related infrastructure in future to further strengthen its base so as to provide value added services and sustainable returns to its stakeholders.

Subject : Declaration of the Results of the Postal Ballot held to approve proposals related to investments /loans to Special Purpose Vehicles incorporated to establish Free Trade Warehousing Zones.
Date :      January 19, 2007

In August 2004 the Government of India announced the concept of Free Trade & Warehousing Zones (FTWZ) in the Foreign Trade Policy 2004-09. Briefly, the FTWZ concept envisages creation of trade related infrastructure to facilitate import and export of goods and services with freedom to carry out trade transactions in free currency. The FTWZ scheme envisages creation of world class infrastructure for warehousing of various products, state of the art handling equipment, transportation facilities, commercial office spaces, communications and connectivity as well as one stop clearance of import/export formalities so as to support such zones as international trading hubs. FTWZ is a special category of SEZs with a focus on trading and warehousing. The proposal is required to entail a minimum outlay of Rs. 100 crores for such FTWZ with a minimum built-up area of one lakh sq. metres.

Subject : MMTC RECORDS 65% GROWTH IN APRIL-SEPTEMBER 06; SET TO REACH Rs.23,000 CRORE MARK IN 2006-07
Date :      October 31, 2006

MMTC, the largest international trading company of India, has recorded 65% growth in business volumes during April- September 06 period of current fiscal. Against a turnover of Rs. 6802 crores recorded during April-September 2005, MMTC achieved a turnover of Rs. 11253 crores during the corresponding period in current fiscal. The total turnover of Rs. 11253 crores includes exports of Rs. 1456 crores, imports of Rs. 8971 crores and domestic trade at Rs. 826 crores. With this performance, the company is hopeful of crossing annual turnover of Rs.23,000 crores in the current year for the first time in its history spanning over four decades.

2. During the period, MMTC posted net profit after tax at Rs. 58.31 crores, which is 8% higher over the profits earned by the company during corresponding period in the last fiscal. The company’s net worth rose to over Rs. 890 crores, with zero long-term debts. The earnings per share were Rs. 11.66 , which on an annualized basis works out to Rs. 23.32 per share of face value Rs. 10/- each.

3. MMTC has set out ambitious plans to promote many new projects in future. In identifying areas of investment, MMTC has maintained its focus on its role as a trade organizer and trade facilitator. The company has already embarked upon setting up free trade warehousing zones in the country and has decided to invest in development of resources abroad for items imported perennially in India to meet the national demand/supply gap. The company has recently got allocation of a coal block in Jharkhand and would thus be making its maiden entry into coal mining to supplement supply of coal to domestic users.

4. With investment of about Rs. 70 crores in Wind Energy Farm during the current year to be set up in Karnataka, MMTC will be enlarging its activities in the power sector. MMTC promoted NINL plant is already supplying power surplus to its captive demand to the national grid.

5. With long term contracts for export of iron ore with Japan and South Korea signed recently the company would increase its exports activities in coming quarters.

6. MMTC had recently organized a Jewellery exposition in Delhi during October 2006 and encouraged with the overwhelming response received, more such expositions have been planned in near future at various locations in India.

(Manohar Balwani)
Company Secretary