MSTC Limited

Summary

MSTC Limited (formerly known as Metal Scrap Trade Corporation Limited) is a government owned e-commerce service provider involved in diversified e-commerce services. Its corporate office is in Kolkata, West Bengal with regional branch offices in other cities. It is under the ownership of Ministry of Steel, Government of India. This government enterprise has reported Net Profit of INR 112.95 crore for fiscal year 2020-21. Incorporated on 9 September 1964, MSTC has 344 employees (as on 31 March 2020).

MSTC Limited
Native name
MSTC Limited
TypeStatutory Corporation
BSE: 542597
NSE: MSTCLTD
IndustryE-commerce
Founded9 September 1964 (9 September 1964)
HeadquartersKolkata
Key people
S.K.Gupta (Chairman & Managing Director)
ProductsE-auction, e-procurement, e-sales, retail software
OwnerGovernment of India
ParentMinistry of Steel, Government of India
Websitewww.mstcindia.co.in

MSTC renders service to various e-commerce sectors, including e-auction, e-procurement, high sea sales, e-sales, and retail software. MSTC recently developed software to conduct online draw for new LPG distribution ship scheme which was conducted by state run oil marketing companies all over India.[1] MSTC is also in the process[as of?] of developing an online portal on behalf of the government for selling state-owned entities through an English auction system.[2]

The company has its head office in Kolkata, West Bengal; four regional offices in Kolkata, Delhi, Mumbai and Chennai; and branch offices in Chandigarh, Jaipur, Vadodara, Bhopal, Bhubaneswar, Guwahati, Bangalore, Lucknow, Ranchi, Raipur, Vizag, Trivandrum and Hyderabad. MSTC has recently[when?] opened two new site office at Patna and Dehradun. It also has a subsidiary PSU company, FSNL (Ferro Scrap Nigam Limited).[3]

HistoryEdit

  • 1964 - incorporated as a regulatory body for export of scrap
  • 1982 - independent company under Ministry of Steel
  • 2002 - awarded Miniratna Category-II status
  • 2004 - started auctioning of coal
  • 2005 - awarded Miniratna Category-I status
  • 2007 - started e-auction of manganese ore
  • 2011 - started e-auction of iron ore in Karnataka, and human hair[4]
  • 2012 - started e-auction of chrome ore, baryte, raw pet coke
  • 2013 - started e-auction of forest produces
  • 2014 - started e-auction of iron ore in Goa and red sanders wood in Andhra Pradesh[5]
  • 2015 - e-auction of coal mine blocks[6] and regassified LNG[7]
  • 2016 - developed e-bidding platform under DDUGJY & IPDS, DEEP and allocation of marginal oil field[8]
  • 2017 - developed ERAKAM portal to provide e-auction platform to sell agriculture produce[9]
  • 2018 - developed Online LPG Distributorship Draw Software for Oil Marketing Companies.[10]

Presence in IndiaEdit

MSTC is headquartered in Kolkata with address MSTC Ltd, Head Office Plot no.CF-18/2, Street No.175, Action Area 1C, New Town, Kolkata - 700156.

MSTC have offices at 21 locations across India.[11] There are four Regional offices, 13 Branch offices and 1 site office Patna (Bihar).

OwnershipEdit

The company is under the administrative control of Ministry of Steel, Govt. of India. Currently 64.75% share of the company is held by Govt. of India.

CEROEdit

CERO is a joint venture of MSTC Ltd. and Mahindra Accelo.[12] This Joint Venture company has set up the first auto shredding plant in India for recycling end of life vehicles and other white goods by converting these into shredded scrap which is a vital raw material of secondary steel plants, located in Greater Noida, New Delhi.

AwardsEdit

  • Kolkata Best Employer Brand Awards 2017 by Employer Branding Institute, India[13]

ReferencesEdit

  1. ^ Jacob, Shine (28 December 2017). "LPG dealership expansion gains pace". Business Standard. Retrieved 30 May 2019.
  2. ^ Majumder, Arindam (7 May 2018). "E-bidding: Govt to explore English auction system for disinvestment". Business Standard India – via Business Standard.
  3. ^ http://www.fsnl.nic.in/about-us.php
  4. ^ Jacob, Shine (30 November 2011). "Q&A: S K Tripathi, CMD, MSTC". Business Standard India – via Business Standard.
  5. ^ Bureau, Andhra Pradesh (24 July 2014). "Stage set for e-auction of red sanders". The Hindu – via www.thehindu.com.
  6. ^ Mazumdar, Rakhi (7 May 2018). "MSTC to conduct E-auction of coal blocks, mjunction cries foul". The Economic Times.
  7. ^ PTI (15 September 2015). "Bidding starts for imported LNG subsidy; 16 power companies in fray".
  8. ^ Jacob, Shine (16 February 2017). "Cabinet awards 31 oil blocks to 22 firms". Business Standard India – via Business Standard.
  9. ^ "Government launches e-RaKAM portal for selling agri produce". The Economic Times.
  10. ^ Jacob, Shine (28 December 2017). "LPG dealership expansion gains pace". Business Standard India – via Business Standard.
  11. ^ "https://www.mstcindia.co.in/content/Contact.aspx" – via MSTC LTD. {{cite web}}: External link in |title= (help)
  12. ^ "CERO (Mahindra MSTC Recycling Pvt. Ltd.) is India's First Authorized Recycler of Vehicles". www.mahindra.com. Retrieved 16 April 2022.
  13. ^ "Employer Branding Awards". employerbrandingawards.com.

External linksEdit

  • MSTC
  • FSNL
  • DDUGJY
  • DEEP
  • CERO
  • ERAKAM