Monday 1 October 2012

Spmcil Becomes A Debt free Company

New Delhi:(Page3 News Network)-Shri M.S. Rana, CMD, Security Printing and Minting Corporation of India Limited (SPMCIL) said that sales turnover of the Company for the year 2011-12 has increased to Rs. 3422.68 crore as against Rs.3134.57 crore in last year i.e. 2010-11. Profit after Tax (PAT) during the year has increased to Rs. 582.46 crore as against Rs. 577.19 crore
during the previous year. The PAT per employee has increased toRs. 4.54 lakh resulting into an increase of 6% over the last year. He informed further that the Company has achieved Excellent rating in MoU for the years 2009-10 & 2010-11 and is again poised for Excellent rating for 2011-12. 
Shri M.S. Rana, CMD SPMCIL was addressing the shareholders during the 7th Annual General Meeting of the company held on 27th September 2012 at its Registered Office at 16th Floor, Jawahar Vyapar Bhawan, Janpath, New Delhi. The seven Government officials representing President of India attended the meeting as shareholders of the Company. Shri M.S. Rana, Chairman and Managing Director of the Company in his speech to the shareholders informed that India Government Mints have achieved highest production of circulating coins of 6282 mpcs in 2011-12 and Bank Note Presses have produced 6541 mpcs of currency notes during 2011-12 which is 19.5% higher than last year. Further, the Security Paper Mill, Hoshangabad has produced 2925 MT of CWBN paper during 2011-12 which is ever highest and India Security Press, Nashik has produced SPUs of 49822 mpcs which is 31.2% higher than the last year. 
Shri Rana further informed in his speech that SPMCIL has become a debt free Company after paying the last installment of Rs. 175 crore of the working capital loan of Rs. 700 crore taken from Ministry of Finance during corporatisation. He said that the Company has created reserves of Rs. 2370.33 crore as on 31st March 2012. 
Shri Rana highlighted about modernization & indigenization, R&D and CSR initiatives taken by the Company during 2011-12. He informed that the Company is regularly complying with all statutory provisions and guidelines and following ethical and transparent business practices. 
In the aforesaid AGM, the Company approved the payment of dividend to its shareholder, i.e. Government of India, of Rs.116.49 crore, which is 20% of its Profit after Tax (PAT). SPMCIL had paid maiden dividend of Rs.115.44 crore last year. 
Security Printing and Minting Corporation of India Limited (SPMCIL) is a Schedule ‘A’, Miniratna Category-I CPSE, wholly owned by Government of India. The Company incorporated on 13.01.2006 has nine units engaged in minting of coins and printing of banknotes, passport, postal stationery, non-judicial stamp papers and other security documents & security paper, etc. SPMCIL has registered growth in terms of production and profitability since its incorporation. It has proved to be a successful example of corporatisation of erstwhile Government units. 

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