State Trading Corporation of India Limited
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BSE Code:
512531
NSE Code:
STCINDIA
Business Profile
Business Profile
State Trading Corporation of India (STC) is an international trading house, owned by the Government of India. Incorporated in 1956, it is a canalizing agency for export marketing of items entrusted to it, development of supply base and import distribution.
Its areas of operations are exports from India, imports into India, domestic trading and market support operations. It has developed several new areas of business over the last two years. These include foodgrains, bullion, hydrocarbons, minerals, metals and fertilisers. The Corporation signed a MoU with Mysore Minerals for export of iron ore on 50:50 profit sharing basis and a quantity of 0.12 million MT was contracted under the MoU for export to China. STC is based in New Delhi, India.
Financials
State Trading Corporation of India reported 41.57% decline in net profit to Rs 106.10 million for the quarter ended September 2007, as against Rs 181.60 million for the quarter ended September 2006.
Net sales declined 1.74% to Rs 35,333.90 million in the quarter ended September 2007, from Rs 35,961.80 million for the quarter ended September 2006.
Total income declined 1.05 % to Rs 35692.10 million for the quarter ended September 2007, from Rs 36071.50 million for the quarter ended September 2006.
The diluted earnings per share (EPS) of the company stood at Rs 3.54 in the quarter ended September 2007
Recent Developments
31-OCT-07
State Trading Corporation of India has informed that the board of directors of the company at a meeting on October 31 recommended allotting of bonus share at a ratio of 1:1 subject to the approval of the shareholders.
17-AUG-07
State Trading Corporation plans to import more than 300,000 tonnes of edible oils in the year ending March 2008.
Future Plans
State Trading Corporation plans to achieve Rs 10 billion turnovers during 2006-07. With a view to achieving this, it has diversified into areas of business such as supply of indigenously manufactured bullet-proof jackets, bomb blankets to state police departments and paramilitary forces, mining operations, imports of almonds, thermal coal and communication equipment, and domestic supply of various raw materials such as iron ore, steel, coke, and chemicals. The company has identified agro imports and exports, hydrocarbon imports and precious metal imports as areas of as core competence. The company has plans to gradually expand the export of coke and steel raw materials sourced from India as well as third countries. It has started imports/domestic sales of petro-chemicals and is now planning to undertake exports of petro-products. The company has set up a complete packaging unit and a trading office for large tea market and plans to export Tea to Russia.