Millennium Post

SPMCIL touches on last fiscal’s progress in seventh AGM

Security Printing and Minting Corporation of India Limited [SPMCIL] held its seventh annual general meeting on 27 September 2012 at its registered office in Jawahar Vyapar Bhawan, Janpath, New Delhi. The seven government officials representing the president of India attended the meeting as shareholders of the company.

M S Rana, chairman and managing director of the company in his speech to the shareholders informed that India government mints have achieved the 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 per cent 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 per cent higher than the last year. Sales turnover of the company for the year 2011-12 has increased to Rs 3422.68 crore as against Rs 3134.57 crore last year. 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 to Rs 4.54 lakh resulting into an increase of six per cent over the last year. 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. 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.
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