Press Information Bureau

Government of India

Ministry of Steel

24-January-2013 17:36 IST

The Union Minister of Steel, Shri Beni Prasad Verma was presented with a Bonus Share Certificate comprising of 59,29,800 Equity Shares of Rs.10 each by Shri S.K. Tripathi, CMD, MSTC LTD here today. MSTC, a Mini Ratna, CPSE functioning under the Ministry of Steel declared Bonus share in the ratio of 3:1 (i.e. 3 equity shares against one equity share held) during the year 2012-13. The authorized capital of company is Rs.50 Crore and Paid-up Capital is Rs.8.80 Crore.

For the year 2011-12, the company reported Profit Before Tax of Rs.176.15 Crore, 18% higher than last year. The Volume of Business was Rs. 21,751 Crore which is around 54% more than last year. MSTC’s profit per employee during 2011-12 was Rs. 58 Lakh which is one of the highest among all e-Commerce companies in Public/ Private Sector.

MSTC’s e-Commerce services have resulted to transparent discovery of appropriate product price. Its e-commerce portal is a fair and prompt electronic market place for carrying out genuine trading activities.

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NSK/DB

Bonus share issuance increases equity capitalization; MSTC declared a bonus issue citing improved profits and business volume. MSTC Ltd., a Mini Ratna CPSE under the Ministry of Steel, declared a bonus share issuance in the ratio of 3:1, issuing 59,29,800 equity shares of Rs.10 each and thereby changing equity distribution among existing shareholders; the announcement references the company's authorized and paid-up capital and links the bonus decision to improved profit before tax, higher business volume for 2011-12, and strong profit-per-employee metrics, while noting MSTC's e commerce platform promotes transparent price discovery.