MMTC Ltd
MMTC, a public sector undertaking, was incorporated in 1963, to facilitate foreign trade in India and canalize the export and import of essential minerals and metals. It is under the administrative control of the Ministry of Commerce & Industry, and Government of India and is engaged in trading across minerals, metals, precious metals, agro products, fertilizers & chemicals and coal & hydrocarbons. [1]
- Market Cap ₹ 10,582 Cr.
- Current Price ₹ 70.6
- High / Low ₹ 88.2 / 42.6
- Stock P/E 222
- Book Value ₹ 9.71
- Dividend Yield 0.00 %
- ROCE 8.33 %
- ROE 5.69 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 19.5% CAGR over last 5 years
Cons
- Stock is trading at 7.27 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of -86.3% over past five years.
- Company has a low return on equity of -0.64% over last 3 years.
- Earnings include an other income of Rs.222 Cr.
- Company has high debtors of 37,136 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Services Services Commercial Services & Supplies Trading & Distributors
Part of BSE 500 BSE PSU Nifty 500 BSE SmallCap BSE CPSE
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 25,269 | 18,283 | 12,568 | 11,707 | 16,450 | 28,979 | 24,134 | 26,380 | 8,392 | 272 | 3 | 1 | 3 | |
| 25,163 | 18,336 | 12,626 | 11,730 | 16,423 | 28,797 | 24,203 | 26,435 | 7,945 | 393 | 165 | 139 | 115 | |
| Operating Profit | 106 | -53 | -58 | -24 | 27 | 182 | -69 | -55 | 448 | -122 | -162 | -138 | -111 |
| OPM % | 0% | -0% | -0% | -0% | 0% | 1% | -0% | -0% | 5% | -45% | -4,800% | -11,820% | -3,269% |
| -11 | 148 | 152 | 134 | 55 | 8 | -12 | -835 | -101 | 1,517 | 244 | 246 | 222 | |
| Interest | 68 | 17 | 31 | 22 | 17 | 66 | 141 | 199 | 222 | 112 | 1 | 6 | 6 |
| Depreciation | 12 | 18 | 6 | 7 | 5 | 6 | 6 | 5 | 5 | 4 | 4 | 5 | 5 |
| Profit before tax | 14 | 60 | 58 | 81 | 59 | 119 | -227 | -1,094 | 121 | 1,279 | 76 | 97 | 101 |
| Tax % | -29% | 20% | 5% | 30% | 17% | 31% | -0% | -30% | 297% | 16% | 10% | 28% | |
| 19 | 48 | 55 | 57 | 49 | 81 | -227 | -770 | -238 | 1,076 | 68 | 70 | 75 | |
| EPS in Rs | 0.12 | 0.32 | 0.37 | 0.38 | 0.33 | 0.54 | -1.51 | -5.13 | -1.59 | 7.17 | 0.45 | 0.46 | 0.49 |
| Dividend Payout % | 80% | 52% | 55% | 53% | 61% | 55% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | -62% |
| 5 Years: | -86% |
| 3 Years: | -95% |
| TTM: | -11% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 20% |
| 3 Years: | 29% |
| TTM: | -63% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 34% |
| 3 Years: | 26% |
| 1 Year: | -17% |
| Return on Equity | |
|---|---|
| 10 Years: | -4% |
| 5 Years: | -10% |
| 3 Years: | -1% |
| Last Year: | 6% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 100 | 100 | 100 | 100 | 100 | 150 | 150 | 150 | 150 | 150 | 150 | 150 |
| Reserves | 1,242 | 1,259 | 1,312 | 1,334 | 1,349 | 1,339 | 1,034 | 272 | 43 | 1,115 | 1,204 | 1,306 |
| 413 | 287 | 272 | 440 | 519 | 922 | 3,732 | 2,368 | 2,555 | 48 | 5 | 2 | |
| 2,942 | 4,305 | 2,115 | 4,204 | 3,449 | 2,044 | 1,664 | 2,716 | 2,015 | 1,961 | 1,796 | 1,774 | |
| Total Liabilities | 4,697 | 5,951 | 3,799 | 6,078 | 5,418 | 4,455 | 6,580 | 5,507 | 4,763 | 3,273 | 3,155 | 3,232 |
| 75 | 58 | 57 | 56 | 52 | 49 | 48 | 42 | 37 | 33 | 29 | 24 | |
| CWIP | 7 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 502 | 446 | 460 | 581 | 453 | 452 | 22 | 23 | 32 | 26 | 47 | 82 |
| 4,114 | 5,447 | 3,281 | 5,441 | 4,912 | 3,953 | 6,511 | 5,442 | 4,694 | 3,214 | 3,079 | 3,126 | |
| Total Assets | 4,697 | 5,951 | 3,799 | 6,078 | 5,418 | 4,455 | 6,580 | 5,507 | 4,763 | 3,273 | 3,155 | 3,232 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 57 | -308 | -96 | 300 | -472 | -329 | -2,517 | 1,600 | -112 | 927 | -353 | -363 | |
| 139 | 104 | 85 | -96 | 134 | 6 | -61 | 36 | 42 | 1,967 | 198 | 278 | |
| -1,142 | -161 | -75 | 111 | 26 | 301 | 2,614 | -1,566 | -19 | -2,620 | -43 | -5 | |
| Net Cash Flow | -946 | -365 | -86 | 315 | -312 | -22 | 36 | 69 | -89 | 274 | -198 | -90 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 25 | 61 | 24 | 16 | 8 | 4 | 29 | 8 | 6 | 180 | 13,237 | 37,136 |
| Inventory Days | 5 | 7 | 13 | 79 | 41 | 4 | 3 | 1 | 1 | 2 | 164 | |
| Days Payable | 23 | 68 | 29 | 23 | 25 | 14 | 10 | 11 | 13 | 358 | 109,372 | |
| Cash Conversion Cycle | 7 | -0 | 7 | 72 | 23 | -6 | 22 | -3 | -6 | -176 | -95,971 | 37,136 |
| Working Capital Days | 3 | 11 | 14 | 3 | 16 | 10 | 14 | -5 | -8 | -388 | -22,703 | -53,664 |
| ROCE % | 14% | 3% | 1% | 1% | 4% | 9% | -1% | -0% | 18% | -1% | 2% | 8% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s
2d - CAG appointed five CA firms as MMTC auditors for FY2025-26, appointment dated 26/09/2025.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
9 Oct - MMTC Limited intimates the exchange regarding certificate issued by RTA under Regulation 74(5) of SEBI (DP) Regulation 2018.
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Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s
9 Oct - CAG appointed five CA firms as MMTC statutory/joint/branch auditors for FY 2025-26 (letter dated 10 Sep 2025).
-
Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
26 Sep - Scrutinizer's report: AGM on 26 Sep 2025; all resolutions passed, appointing Nitin Kumar Yadav as CMD and other directors.
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Shareholder Meeting / Postal Ballot-Outcome of AGM
26 Sep - 26 Sep 2025 AGM: eight resolutions passed; Nitin Kumar Yadav appointed CMD; Dinesh Dubey appointed Independent Director.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Business Verticals
Agro Products: The Co is an established supplier/buyer having over 3 decades of experience in the trade of wheat, rice, maize, sugar etc. [1]
Fertilizers: It is engaged in import of finished, intermediate and raw fertilizers and handles about 3 to 4 million tonnes of fertilizers. [2]
Metals & Industrial Raw Materials: Trading of non ferrous metals like copper, zinc etc and Industrial Raw Materials like Brown Fused Alumina, White Fused Alumina, Ferroalloys etc. [3]
Minerals: Trading of Iron ore Fines & Lumps, Chrome Ore, Chrome Concentrate, Manganese Ore and other items. [4]
Precious Metals: The Co is an authorized agency of the Government of India for import of gold, silver, platinum, palladium, rough diamonds, emeralds, rubies and other semi-precious stones. [5]