MMTC Ltd (Metals and Minerals Trading Corporation of India Limited), a prominent public sector enterprise established on 26 September 1963, plays a pivotal role in facilitating India’s foreign trade. Operating under the administrative control of the Ministry of Commerce & Industry, Government of India, MMTC is headquartered in New Delhi and specializes in the export and import of a diverse range of commodities. These include minerals, metals, precious metals, agricultural products, fertilizers, chemicals, coal, and hydrocarbons. The company’s robust international trade network spans across Asia, Europe, Africa, Oceania, and the United States, complemented by its wholly owned subsidiary, MMTC Transnational Pte. Ltd. (MTPL), established in Singapore in 1994. Over the decades, MMTC has significantly diversified its portfolio, expanding into agro commodities, fertilizers, and precious metals, while maintaining its core focus on essential minerals and industrial products. As one of India’s largest international trading companies and a leading earner of foreign exchange, MMTC continues to drive economic growth and strengthen the nation’s global trade presence.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | |
| Promoters + | 89.93% | 89.93% | 89.93% | 89.93% | 89.93% |
| FIIs + | 0.00% | 0.15% | 0.02% | 0.09% | 0.11% |
| DIIs + | 2.43% | 2.70% | 2.66% | 2.15% | 1.86% |
| Public + | 7.64% | 7.23% | 7.39% | 7.84% | 8.10% |
| No. of Shareholders | 3,02,066 | 3,48,800 | 3,42,548 | 3,79,581 | 3,78,682 |
The shareholding pattern of MMTC exhibits a consistent majority held by the promoters, maintaining a stable stake of 89.93% throughout the period from December 2023 to December 2024. Foreign Institutional Investors (FIIs) have shown a marginal presence, starting at 0.00% in December 2023 and slightly increasing to 0.11% by December 2024. Domestic Institutional Investors (DIIs) have seen a gradual decline in their holdings, from 2.43% in December 2023 to 1.86% by the end of 2024. Meanwhile, public shareholding has steadily increased, rising from 7.64% in December 2023 to 8.10% in December 2024, reflecting growing participation from individual investors. Additionally, the number of shareholders in MMTC has shown a notable increase, from 3,02,066 in December 2023 to 3,78,682 by December 2024, indicating heightened interest in the company among investors over the year.
You can buy MMTC shares from the following trading platforms:
- Zerodha
- Upstox
- Groww
- AngelOne
- ICICIDirect
| When | Maximum Price | Minimum Price |
| January 2025 | 81.39 | 62.61 |
| February 2025 | 82.21 | 63.24 |
| March 2025 | 83.94 | 64.57 |
| April 2025 | 83.11 | 63.93 |
| May 2025 | 80.69 | 62.07 |
| June 2025 | 84.32 | 64.86 |
| July 2025 | 82.66 | 63.59 |
| August 2025 | 85.22 | 65.55 |
| September 2025 | 86.24 | 66.34 |
| October 2025 | 88.49 | 68.07 |
| November 2025 | 90.70 | 69.77 |
| December 2025 | 94.78 | 72.91 |
As we step into 2025, MMTC is projected to experience a steady rise in its price trends throughout the year. In January, the maximum price is expected to reach ₹81.39, while the minimum may hover around ₹62.61. By December, MMTC’s maximum price is anticipated to rise significantly to ₹94.78, with the minimum climbing to ₹72.91.
| When | Maximum Price | Minimum Price |
| January 2026 | 97.62 | 75.09 |
| February 2026 | 95.18 | 73.22 |
| March 2026 | 97.08 | 74.68 |
| April 2026 | 99.07 | 76.20 |
| May 2026 | 98.09 | 75.45 |
| June 2026 | 100.54 | 77.34 |
| July 2026 | 98.57 | 75.82 |
| August 2026 | 101.61 | 78.17 |
| September 2026 | 103.65 | 79.73 |
| October 2026 | 106.34 | 81.80 |
| November 2026 | 109.00 | 83.85 |
| December 2026 | 111.73 | 85.94 |
As we move through 2026, MMTC is projected to demonstrate a consistent upward trend in its prices. In January, the maximum price is expected to reach ₹97.62, with the minimum anticipated at ₹75.09. By December, MMTC’s maximum price is forecasted to climb to ₹111.73, while the minimum may rise to ₹85.94.
| When | Maximum Price | Minimum Price |
| January 2027 | 112.84 | 86.80 |
| February 2027 | 115.74 | 89.03 |
| March 2027 | 120.25 | 92.50 |
| April 2027 | 117.89 | 90.69 |
| May 2027 | 114.46 | 88.04 |
| June 2027 | 119.61 | 92.01 |
| July 2027 | 117.26 | 90.20 |
| August 2027 | 120.89 | 92.99 |
| September 2027 | 125.12 | 96.25 |
| October 2027 | 128.37 | 98.75 |
| November 2027 | 131.58 | 101.22 |
| December 2027 | 134.87 | 103.75 |
| When | Maximum Price | Minimum Price |
| January 2028 | 137.57 | 105.82 |
| February 2028 | 141.10 | 108.54 |
| March 2028 | 146.60 | 112.77 |
| April 2028 | 143.73 | 110.56 |
| May 2028 | 139.54 | 107.34 |
| June 2028 | 145.82 | 112.17 |
| July 2028 | 142.96 | 109.97 |
| August 2028 | 147.38 | 113.37 |
| September 2028 | 152.54 | 117.34 |
| October 2028 | 156.51 | 120.39 |
| November 2028 | 160.42 | 123.40 |
| December 2028 | 164.43 | 126.48 |
| When | Maximum Price | Minimum Price |
| January 2029 | 167.72 | 129.01 |
| February 2029 | 172.02 | 132.32 |
| March 2029 | 178.73 | 137.48 |
| April 2029 | 175.22 | 134.79 |
| May 2029 | 170.12 | 130.86 |
| June 2029 | 177.77 | 136.75 |
| July 2029 | 174.29 | 134.07 |
| August 2029 | 179.68 | 138.21 |
| September 2029 | 185.97 | 143.05 |
| October 2029 | 190.80 | 146.77 |
| November 2029 | 195.57 | 150.44 |
| December 2029 | 200.46 | 154.20 |
| When | Maximum Price | Minimum Price |
| January 2030 | 204.47 | 157.29 |
| February 2030 | 209.71 | 161.32 |
| March 2030 | 217.89 | 167.61 |
| April 2030 | 213.62 | 164.32 |
| May 2030 | 207.40 | 159.54 |
| June 2030 | 216.73 | 166.72 |
| July 2030 | 212.48 | 163.45 |
| August 2030 | 219.05 | 168.50 |
| September 2030 | 226.72 | 174.40 |
| October 2030 | 232.62 | 178.94 |
| November 2030 | 238.43 | 183.41 |
| December 2030 | 244.39 | 187.99 |
In 2030, MMTC is projected to exhibit significant growth in its price trajectory. In January, the maximum price is expected to reach ₹204.47, with the minimum anticipated at ₹157.29. By December, the maximum price is forecasted to climb to ₹244.39, while the minimum may rise to ₹187.99.
Financial Condition of MMTC
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 26,304 | 30,000 | 11,795 | 3,527 | 3 | 4 |
| Expenses + | 26,436 | 30,045 | 11,338 | 3,634 | 165 | 154 |
| Operating Profit | -132 | -45 | 457 | -107 | -162 | -150 |
| OPM % | 0% | 0% | 4% | -3% | -4800% | -4190% |
| Other Income + | -8 | -859 | -126 | 2,000 | 368 | 374 |
| Interest | 144 | 203 | 225 | 122 | 1 | -1 |
| Depreciation | 6 | 6 | 5 | 5 | 4 | 4 |
| Profit before tax | -291 | -1,112 | 101 | 1,766 | 200 | 221 |
| Tax % | 0% | -29% | 355% | 12% | 4% | |
| Net Profit + | -292 | -789 | -258 | 1,562 | 192 | 206 |
| EPS in Rs | -1.94 | -5.26 | -1.72 | 10.42 | 1.28 | 1.38 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
The financial performance of MMTC over the years from March 2020 to March 2024 highlights a fluctuating trend in key metrics, reflecting both challenges and recovery phases.
Revenue and Expenses:
Sales peaked at ₹30,000 crore in March 2021 but experienced a sharp decline thereafter, dropping to a mere ₹3 crore in March 2024. Expenses followed a similar trend, from ₹30,045 crore in March 2021 to ₹165 crore in March 2024. However, the disparity between revenue and expenses resulted in consistent operating losses.
Profitability:
Operating Profit showed a positive turn in March 2022 at ₹457 crore, achieving an Operating Profit Margin (OPM) of 4%, the only positive OPM in this period. However, subsequent years witnessed negative OPM, with March 2024 recording a steep decline to -4800%. Net Profit saw a notable turnaround in March 2023, reaching ₹1,562 crore, mainly driven by other income of ₹2,000 crore. In March 2024, Net Profit fell to ₹192 crore, reflecting reduced income.
Taxation and EPS:
Tax percentage remained inconsistent, with a significant 355% in March 2022 due to specific adjustments. Earnings Per Share (EPS) improved significantly in March 2023 to ₹10.42 but declined to ₹1.28 in March 2024.
Dividend Payout:
No dividends were declared throughout the period, indicating a focus on conserving cash and addressing operational challenges.
FAQs
What is MMTC current market capitalization?
MMTC current market capitalization is ₹10,178 crore.
As of January 14th, 2025, MMTC share price is ₹67.8.
The share price targets for MMTC in 2025 range from ₹62.07 to ₹94.78, while in 2030, the targets range from ₹157.29 to ₹244.39.
What is the current price-to-earnings (P/E) ratio of MMTC?
MMTC current stock P/E ratio is 48.0.
MMTC book value per share is ₹11.5.
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Conclusion
In conclusion, MMTC has demonstrated resilience and adaptability in navigating a dynamic financial landscape. While the company faced challenges in maintaining consistent revenues and profitability in recent years, it has shown the capacity for recovery, as evidenced by its notable net profit of ₹1,562 crore in March 2023. Its strategic focus on international trade, diversification into multiple commodities, and strong promoter backing have fortified its position as a leading player in the sector. With an improving EPS and a strong market presence, MMTC is well-positioned to leverage its strengths for sustained growth in the coming years, aligning with India’s expanding global trade ambitions
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