Date:28/03/2007 URL: http://www.thehindubusinessline.com/2007/03/28/stories/2007032802231000.htm

Back MMTC targets Rs 18,100-cr turnover

Our Bureau

New Delhi March 27 MMTC Ltd has projected a turnover of Rs 18,100 crore and gross margin of Rs 200 crore for the next fiscal.

In an MoU that the trading giant signed with the Department of Commerce for performance-related milestones it is hopeful of achieving, MMTC has also indicated targets for different parameters pertaining to customer satisfaction, innovation and project implementation.

The MoU covers schedule for commissioning of 15 MW wind energy farm, entry into retail business, power trading and coal mining as well as setting up 21 new franchisees for its 92.5 per cent sterling silverware products under the Sanchi brand.

A sales turnover target of $400 million has also been laid down in the MoU with respect to MMT's overseas subsidiary, MTPL, based in Singapore.

Mr Sanjiv Batra, MMTC Chairman and Managing Director, signed the MoU on behalf of the company with Mr Gopal Pillai, Commerce Secretary, an official release said.