Key Metrics of Mmtc Limited
About Mmtc Limited
Sectors
Company details
- Registered office
- Core-1, Scope Complex, 7 Institutional Area, Lodhi Road, New Delhi, In-dl, 110003
- Listed
- NSE: MMTC · ₹50.44
Operational Areas of Mmtc Limited
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 27 Oct 2025 | CARE | Other | — | — | — | — | View |
| 12 Sep 2025 | CARE | Non-cooperating | D | — | — | ₹1,555 Cr | View |
| 14 Jun 2024 | CARE | Non-cooperating | D | — | — | ₹8,878 Cr | View |
| 16 Mar 2023 | CARE | Non-cooperating (from D) | D | — | Positive | ₹8,878 Cr | View |
| 27 Dec 2022 | CARE | Other | — | — | — | — | View |
| 06 Apr 2022 | CARE | Watch (from D) | D | — | Positive | ₹17,756 Cr | View |
| 05 Apr 2021 | CARE | Watch (from B) | — | — | Developing | ₹17,756 Cr | View |
| 29 Sep 2020 | CARE | Watch (from BBB+) | B | A4 | Developing | ₹17,756 Cr | View |
| 17 Jan 2020 | CARE | Watch (from A) | BBB+ | A3+ | Developing | ₹17,756 Cr | View |
| 09 Oct 2019 | CARE | Watch (from A) | A- | A2+ | Stable | ₹17,756 Cr | View |
| 07 Jan 2019 | CARE | Reaffirmed | A | A1 | Stable | ₹8,878 Cr | View |
Credit strengths (CARE, Sep 2025)
+ Liquidity: Not Available
Applicable criteria Definition of Default Information Adequacy Risk and Issuer Non-Cooperation Factoring linkages with government Rating Outlook and Rating Watch Manufacturing Companies Financial Ratios – Non financial Sector
+ Brief Financials (Rs. crore) March 31, 2024 (A) March 31, 2025 (A)
Total Operating Income 5.34 2.69 PBILDT -162.55 -138.66 PAT 68.21 69.53 Overall gearing (times) 0.00 0.00 Interest coverage (times) -232.21 -25.73 A: Audited UA: Unaudited; Note: these are latest available financial results Status of non-cooperation with previous CRA: Not applicable
+ Total Operating Income 5.34 2.69
PBILDT -162.55 -138.66 PAT 68.21 69.53 Overall gearing (times) 0.00 0.00 Interest coverage (times) -232.21 -25.73 A: Audited UA: Unaudited; Note: these are latest available financial results Status of non-cooperation with previous CRA: Not applicable Any other information: Not applicable
+ Annexure-2: Rating history for last three years
Current Ratings Rating History Date(s) Date(s) and and Sr. Name of the Rating(s Date(s) and Rating(s Date(s) and No Instrument/Ba Amount Typ ) Rating(s) ) Rating(s)
+ Demand loan G*
G* (27-Dec-22) (14-Jun-24) 3)CARE D (CW with Positive Implications) (06-Apr-22) 1)CARE D;
+ LT: Long term; ST: Short term; LT/ST: Long term/Short term
Annexure-3: Detailed explanation of covenants of rated instruments/facilities Not applicable 4 CARE Ratings Ltd. Press Release Annexure-4: Complexity level of instruments rated Sr. No. Name of the Instrument Complexity Level 1 Fund-based - LT-Cash Credit Simple 2 Fund-based - LT-Term Loan Simple
Credit challenges
− Key strengths
MMTC’s position as India’s largest international trading house and established track record of trading in diverse commodities As apprised by the company management, there are no business operations in MMTC currently and the final announcement on its closure of operations is awaited.
Could lead to an upgrade
• Successful completion of divestment of NINL resulting in recovery of loans & advances extended by MMTC and repayment of bank loans.
Agency-reported financials (CARE, 27 Oct 2025)
| Metric | March 31, 2024 | March 31, 2025 |
|---|---|---|
| Total operating income | ₹5.34 Cr | ₹2.69 Cr |
| PBILDT | ₹-,161.76 Cr | ₹-,138.29 Cr |
| PAT | ₹68.21 Cr | ₹69.53 Cr |
| Overall gearing (times) | 0.00× | 0.00× |
| Interest coverage (times) | -108.56× | -26.14× |
| Revenue growth (YoY) | — | −49.6% |
| EBITDA margin | −3,029.2% | −5,140.9% |
| Implied interest cost (EBITDA ÷ coverage) | — | — |
| PAT margin | 1,277.3% | 2,584.8% |
Borrowings & rated debt
Rated limits over time
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long Term Bank ISSUER NOT continues to remain under ISSUER | Working capital & bank lines | — | ₹55.0 Cr | — | D | Other | CARE |
| Facilities NOT Long Term Short Term continues to remain under ISSUER | Working capital & bank lines | — | ₹700 Cr | — | D | Non-cooperating | CARE |
| Short Term Bank ISSUER NOT continues to remain under ISSUER Long Term Bank | Working capital & bank lines | — | ₹800 Cr | — | D | Non-cooperating | CARE |
CARE ratings on record (checked 23 Oct 2026)
| Instrument | Amount | Rating |
|---|---|---|
| BG/LC | — | Withdrawn |
| Cash Credit | — | Withdrawn |
| Term Loan | — | Withdrawn |
| Working Capital Demand loan | — | Withdrawn |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | Last default 12 Sep 2025 |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 40% |
| Information on file | 78% · missing: Capex / investment plans, Auditor details |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 40% chance the next rating action is stable or better
- Interest coverage -26.14×
Rated limits by facility
Timeline
From the report
Post payment of all the bank dues of approximately Rs. 2700 crore, MMTC shall be debt free and the credit profile is expected to significantly improve.
From the report
Rating Sensitivities Positive Factors - Factors that could lead to positive rating action/upg rade: • Successful completion of divestment of NINL resulting in recovery of loans & advances extended by MMTC and repayment of bank loans.
From the report
After payment of all bank dues of around Rs.2,600 cr, MMTC shall be debt free and the surplus funds shall be utilized for payment of business dues, other liabilities, investments and enhancing business activities, through cost control initiatives implemented by the management.
From the report
PY: Rs. 3,221 crore as on march 31, 2020) (The advances include short term credit facility (cash credit) to NINL upto a limit of Rs. 1425.00 crore for its day to day operational activities on continuing basis).
From the report
Further, for executing of one tender for import of Urea, MMTC requested Department of Fertilizer (DoF) to arrange for loan from National Small Savings Fund (NSSF) to avoid any cash-flow mismatch and thus short-term loan from NSSF of Rs. 1310 crore was disbursed.
From the report
Further, for executing of one tender for import of Urea, MMTC requested Department of Fertilizer (DoF) to arrange for loan from National Small Savings Fund (NSSF) to avoid any cash-flow mismatch and thus short term loan from NSSF of Rs. 1310 crore was disbursed.
From the report
Out of the total envisaged infusion of funds of ~Rs. 350 crore by the other two shareholders, only R s. 60 crore is received in NINL from NMDC as on December 31, 2019.
From the report
As per the management of the company, Ministry of Commerce directed further to infuse an additional equity of Rs.149.34 crore in NINL against which MMTC infused Rs. 79.42 crore in April 2019 and the balance was infused by other shareholders.
From the report
Against the significant cash accruals of MMTC of Rs. 91 crores in FY19 there is no significant debt repayment.
From the report
Further, MMTC had cash and cash equivalents of Rs. 55.21 crore as on March 31, 2019 (Rs. 39.34 cr as free cash balance).
From the report
Further, the average working capital utilization for the 12-month ended August 2019 was 68.08%.
From the report
Liquidity: The liquidity profile of the company is moderate with total free cash and cash equivalents as on March 31, 2018 stood at Rs.50.08 crore.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Mmtc Limited
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 Tata Passenger Electric Mobility Limited |
Courier, Express & Freight · Logistics & Supply Chain | ev.tatamotors.com | — | Mumbai, Maharashtra, India |
 Allcargo Logistics |
Courier, Express & Freight · Logistics & Supply Chain | allcargologistics.com | — | Mumbai, India |
| Quess Corp Limited | Discovered Companies · Other Industries | — | — | Bangalore, Karnataka, India |
| Courier, Express & Freight · Logistics & Supply Chain | concorindia.co.in | — | New Delhi, India | |
 Mahindra Logistics |
Courier, Express & Freight · Logistics & Supply Chain | mahindralogistics.com | — | Mumbai, India |
 Blue Dart Express |
Outlets operated by Blue Dart Express. | bluedart.com | 1983 | Mumbai, India |
 Transport Corporation of India |
Courier, Express & Freight · Logistics & Supply Chain | tcil.com | — | Secunderabad, India |
| MSTC Limited | Discovered Companies · Other Industries | — | — | Kolkata, West Bengal, India |
| Jitf Infralogistics Limited | Courier, Express & Freight · Logistics & Supply Chain | — | — | Chhattisgarh, India |
 VRL Logistics |
Courier, Express & Freight · Logistics & Supply Chain | vrlgroup.in | — | Hubli, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.