MMTC plans productivity improvement programmes, to focus on optimum returns

Kolkata, June 3: MMTC Ltd in its efforts to become a leading international trading house has decided to bring about radical improvements in production by enhancing operating efficiency and increasing employee as well as capital productivity substantially from the current levels, its chairman-cum-managing director SD Kapoor said.

The strategy was aimed at becoming market leader in most of its traditional product lines, like minerals, metals, fertilizers and precious metals, he said.

"Our focus will be to tighten cost controls, and to continuously improve efficiencies in management of financial resources as well as assets.

The demand on our resources to create opportunities in a deregulated era would be different than merely linking buyers and sellers," he said.

"Our growth strategy calls for different skills, converting passive data into active information, a global perspective, effective processes and a strategic architecture that supports trade and co-ordinates business with distinctive analytical abilities to provide added value to our customers," he said in the company’s annual report.

The CMD said the company was also in the process of putting in place a streamlined and efficient system within for settlement of commercial disputes.

Focus will also be on reinforcement of risk management simultaneously ensuring optimum returns on investments with greater transparency by adopting appropriate accounting standards, he added.
Ranked 28th leading general trading company of Asia and amongst the continent’s 1000 largest companies, MMTC had notched up a turnover of Rs 4884.71 crore in 1999-2000 against Rs 4378.25 crore in 1998-1999, official sources said.

It was the first public sector enterprise to be awarded with golden super star trading house status for being the largest exporter of minerals from India and single largest importer of non-ferrous metals, they said.

The company was looking for expanding markets and adding value to products.

Mr Kapoor said gems, jewellery, and precious metals group has chalked out aggressive plans to boost market of in-house ‘Sanchi’ brand of silver, jewellery exports through overseas exhibitions, sales through duty-free shops at international airports, and adopt innovative steps, like marketing of silver of religious trust to enhance turnover in the next year. (PTI)