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-cum-e-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.
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