MMTC Limited (known fully as Metals and Minerals Trading Corporation of India) is one of the two highest earners of foreign exchange for India and India's largest public sector trading body. The company, 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.
MMTC is Schedule 'A'/Mini Navratna Category -1 Central Public Enterprise under the administrative control of Department of Commerce, MoC&I, Govt of India. According to a latest news, MMTC is Asia's biggest gold and silver importer. MMTC is one of the largest non-oil importer in India and among the highest foreign exchange earners for India.
MMTC Limited operates as a trading company in Asia, Europe, Africa, the Middle East, Latin America, and North America. It operates through Minerals, Precious Metals, Metals, Agro Products, Coal & Hydrocarbon, Fertilizer, and General Trade/others segments. Not only handling the export and import of primary products such products as coal, iron ore, agro and industrial products, MMTC also exports and imports important commodities such as ferrous and nonferrous metals for industry, and agricultural fertilizers.
The company's diverse business portfolio encompasses multiple verticals. In Agro Products, the company is an established supplier/buyer having over 3 decades of experience in the trade of wheat, rice, maize, sugar etc. In Fertilizers, it is engaged in import of finished, intermediate and raw fertilizers and handles about 3 to 4 million tonnes of fertilizers. In Metals & Industrial Raw Materials, the company is involved in trading of non ferrous metals like copper, zinc etc and Industrial Raw Materials like Brown Fused Alumina, White Fused Alumina, Ferroalloys etc.
The company also imports gold, silver, platinum, palladium, rough diamonds, emeralds, rubies and other semi-precious stones and supplies these items to jewelers in India for domestic sale and export. The company is engaged in exploration, search, prospecting, development, extraction, and exploitation of the mineral blocks/deposits.
The company has a vast international trade network, spanning almost in all countries in Asia, Europe, Africa, Oceania, and the United States, and also includes a wholly-owned international subsidiary in Singapore, MTPL. The wholly-owned subsidiary MMTC Transnational Pte Ltd, Singapore was incorporated under the control of the company in the year 1994 itself.
MMTC's diverse trade activities cover third-country trade, joint ventures and link deals and all modern forms of international trading. MMTC has promoted various joint ventures following the public-private partnership route to take advantage of new opportunities emerging in the free market environment.
MMTC has a market cap of ₹10,504 Crore (down -17.8% in 1 year) as of recent data. The market cap of MMTC Ltd (MMTC) is ₹10,299 Crore as of June 17, 2025. The Government of India owns 99.3312% stake in its paid-up share capital.
For the fiscal year 2024-25, the company has faced significant challenges:
- For the full year, net profit declined 54.92% to ₹86.63 Crore in the year ended March 2025, as against ₹192.18 Crore during the previous year ended March 2024.
- Sales declined 49.63% to ₹2.69 Crore in the year ended March 2025, as against ₹5.34 Crore during the previous year ended March 2024.
The quarterly performance for Q4 2024-25 showed:
- Net profit of MMTC declined 96.80% to ₹2.23 Crore in the quarter ended March 2025, as against ₹69.78 Crore during the previous quarter ended March 2024.
- MMTC Ltd's revenue fell -53.75% since last year same period to ₹48.06 Crore in Q4 FY2024-2025.
The 52-week high of MMTC Ltd (MMTC) is ₹131.80 and the 52-week low is ₹44.50. The P/E (price-to-earnings) ratio of MMTC Ltd (MMTC) is 118.88. The P/B (price-to-book) ratio is 6.34.
The company has undergone several management changes in 2025. There was an appointment of Smt. Anoopa Sankarankutty Nair as Director Finance (additional charge) on June 10, 2025. MMTC Limited informed about the cessation of Director (Finance) on May 31, 2025, due to expiry of term.
Despite facing revenue challenges, though the company is reporting repeated profits, it is not paying out dividend. The company continues to maintain its position as a key player in India's international trade sector. It is one of the Miniratnas companies.
MMTC's extensive experience in international trading, combined with its government backing and diverse business portfolio, positions it as a significant player in India's trade ecosystem. However, the company faces ongoing challenges related to revenue generation and maintaining profitability in the current market environment. The management's strategic focus on core competencies and operational streamlining will be crucial for future performance and stock price stability.
