Latest news with #CPSE
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Business Standard
09-06-2025
- Business
- Business Standard
FM Sitharaman hails SPMCIL, hopes it to get status of Navratna soon
Finance Minister Nirmala Sitharaman on Monday lauded the performance of the Security Printing and Minting Corporation of India Limited (SPMCIL) and expressed confidence that it will soon become a Navratna state-owned company. Currently, SPMCIL, under the administrative control of the Department of Economic Affairs of the Finance Ministry, is a Schedule 'A' Miniratna Category-I company of the Government of India. The government grants Maharatna, Navratna and Miniratna status to Central Public Sector Enterprises (CPSEs) based on certain pre-defined criteria, including financial parameters such as track record of profit and net worth. Inaugurating the Corporate Office of SPMCIL, Sitharaman appreciated the works being done by the CPSE, which include printing of currency notes, minting of coins for circulation and commemorative coins. She hoped SPMCIL would also achieve Navratna status, given its consistent financial performance. Following its capital restructuring in 2015, the company fully repaid its loan with interest by 2016-17 and continues to deliver strong returns, Sitharaman said. In fiscal 2023-24, it paid a dividend of Rs 364 crore, following a record dividend of Rs 534 crore the year before. In her speech, the finance minister noted that the CPSE delivered about 3.4 metric tonnes of refined gold to the Reserve Bank of India from seizures transferred by the Customs department. It also refined silver and gold received from institutions such as Tirumala Tirupati Devasthanams and Vaishno Devi Shrine Board, among others. During 2024-25, the state-owned firm produced over 1,200 crore banknotes and 150 crore circulation coins as well as over 1.5 crore passport booklets and over 700 crore Excise Adhesive Labels, and various categories of postal and security-related stationery essential for government and public services. "I am equally impressed with the popularity of SPMCIL's souvenir coins, which play a significant role in promoting India's rich cultural heritage, history and art," she said. Sitharaman noted that in free India's recorded history, a total of 210 commemorative coins have been issued out of which 105 have been issued in the last decade, including coins celebrating events such the 2900th birth anniversary of Jain Tirthankar Shri Parshvanath Bhagwan, the 550th Prakash Purab of Guru Nanak Dev, the new Parliament Complex, the 1000 years of Brihadeeswarar Temple, and India's G20 Presidency. Over 20,000 coins have been purchased by the public for the new series of colour souvenir coins, which have been themed around Panchatantra, endangered species, and the Shri Ram Janmabhoomi Temple in Ayodhya. Speaking during the occasion, Minister of State for Finance Pankaj Chaudhary said the government would provide all support to the CPSEs to improve their efficiency and profitability.
Mint
09-06-2025
- Business
- Mint
Sitharaman lauds SPMCIL, hopes it to get Navratna status soon
New Delhi, Jun 9 (PTI) Finance Minister Nirmala Sitharaman on Monday lauded the performance of the Security Printing and Minting Corporation of India Limited (SPMCIL) and expressed confidence that it will soon become a Navratna state-owned company. Currently, SPMCIL, under the administrative control of the Department of Economic Affairs of the Finance Ministry, is a Schedule 'A' Miniratna Category-I company of the Government of India. The government grants Maharatna, Navratna and Miniratna status to Central Public Sector Enterprises (CPSEs) based on certain pre-defined criteria, including financial parameters such as track record of profit and net worth. Inaugurating the Corporate Office of SPMCIL, Sitharaman appreciated the works being done by the CPSE, which include printing of currency notes, minting of coins for circulation and commemorative coins. She hoped SPMCIL would also achieve Navratna status, given its consistent financial performance. Following its capital restructuring in 2015, the company fully repaid its loan with interest by 2016-17 and continues to deliver strong returns, Sitharaman said. In fiscal 2023-24, it paid a dividend of ₹ 364 crore, following a record dividend of ₹ 534 crore the year before. In her speech, the finance minister noted that the CPSE delivered about 3.4 metric tonnes of refined gold to the Reserve Bank of India from seizures transferred by the Customs department. It also refined silver and gold received from institutions such as Tirumala Tirupati Devasthanams and Vaishno Devi Shrine Board, among others. During 2024-25, the state-owned firm produced over 1,200 crore banknotes and 150 crore circulation coins as well as over 1.5 crore passport booklets and over 700 crore Excise Adhesive Labels, and various categories of postal and security-related stationery essential for government and public services. "I am equally impressed with the popularity of SPMCIL's souvenir coins, which play a significant role in promoting India's rich cultural heritage, history and art," she said. Sitharaman noted that in free India's recorded history, a total of 210 commemorative coins have been issued out of which 105 have been issued in the last decade, including coins celebrating events such the 2900th birth anniversary of Jain Tirthankar Shri Parshvanath Bhagwan, the 550th Prakash Purab of Guru Nanak Dev, the new Parliament Complex, the 1000 years of Brihadeeswarar Temple, and India's G20 Presidency. Over 20,000 coins have been purchased by the public for the new series of colour souvenir coins, which have been themed around Panchatantra, endangered species, and the Shri Ram Janmabhoomi Temple in Ayodhya. Speaking during the occasion, Minister of State for Finance Pankaj Chaudhary said the government would provide all support to the CPSEs to improve their efficiency and profitability.
Business Upturn
06-06-2025
- Business
- Business Upturn
HUDCO raises Rs 750 crore via NCDs at 6.52% coupon, to mature in 3 years
Housing and Urban Development Corporation (HUDCO), a Navratna CPSE, has successfully raised Rs 750 crore through the issuance of unsecured, taxable, redeemable, non-convertible, non-cumulative debentures (NCDs) under Series-C 2025 on a private placement basis. As per the regulatory filing on June 6, the Bond Allotment Committee approved a base issue size of Rs 500 crore with a green shoe option of Rs 250 crore, aggregating the total issue to Rs 750 crore. The NCDs have a tenure of three years, with annual interest payments scheduled on June 6 each year till maturity in 2028. The coupon rate offered on these NCDs is 6.52%, and the bonds will be listed on BSE. Notably, these are unsecured instruments and do not carry any special rights or privileges. There has been no delay or default in interest or principal payment as per the company's disclosure. This move strengthens HUDCO's financial position as it continues to finance infrastructure and housing projects aligned with its mission for a developed India. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Investments in debt instruments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
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Business Standard
28-05-2025
- Business
- Business Standard
Hindustan Copper shares surge 4% on strong Q4 profit; Details here
Shares of Hindustan Copper surged over 4 per cent on Wednesday after it reported a 51.8 per cent increase in profit for the quarter ended March 31, 2025 (Q4FY25). Hindustan Copper's stock rose as much as 4.28 per cent during the day to ₹255.5 per share, the highest level since December 30, last year. The stock pared gains to trade 3.6 per cent higher at ₹253.9 apiece, compared to a 0.32 per cent decline in Nifty50 as of 9:38 AM. Shares of the company extended gains to their fourth day and have risen over 15 per cent from their recent lows of ₹222, which it hit earlier this month. The counter has risen by 2 per cent this year, compared to a 4.7 per cent advance in the benchmark Nifty50. Hindustan Copper has a total market capitalisation of ₹24,465.71 crore. Hindustan Copper Q4FY25 results The state-owned Mini-Ratna Central Public Sector Enterprise (CPSE) reported a 51.8 per cent increase in consolidated profit at ₹189.48 crore in Q4FY25. The consolidated income of the company during the fourth quarter rose to ₹777.28 crore, over ₹585.22 crore in the year-ago period. The total expenses of the company during the quarter under review rose to ₹518.75 crore, over ₹401.49 crore in the year-ago period. On the operational front, earnings before interest, taxes, depreciation and amortisation(Ebitda) rose 19 per cent year-on-year (Y-o-Y) to ₹266.7 crore. However, the Ebitda margin contracted around 300 basis points to 36.5 per cent. About Hindustan Copper Hindustan Copper Limited (HCL), established in 1967, is India's only vertically integrated copper producer, operating under the Ministry of Mines. As a central public sector enterprise (CPSE), HCL manages the entire copper value chain—from mining and beneficiation to smelting and refining. The company's operations span five key locations across the country: the Malanjkhand Copper Project in Madhya Pradesh, Khetri Copper Complex in Rajasthan, Indian Copper Complex in Jharkhand, Taloja Copper Project in Maharashtra, and Gujarat Copper Project in Gujarat. The operations at the Taloja plant are currently limited to third-party tolling activities.
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Business Standard
20-05-2025
- Business
- Business Standard
Why did NLC India share price rally 9% on May 20? Key details here
NLC India share price: NLC India shares rallied on Tuesday, May 20, 2025, with the scrip rising up to 8.73 per cent to hit an intraday high of ₹257 per share. However, by 11:00 AM, NLC India share prices were off day's high and were trading 4.29 per cent higher at ₹246.50 per share. In comparison, BSE Sensex was trading 0.12 per cent lower at 81,962.45 level. Why did the NLC India share rise today? NLC India share rose on the back of a strong quarter earnings. The company reported its Q4FY25 results on May 19, post market hours. The company's profit zoomed more than four (4) times or 321.9 per cent year-on-year (Y-o-Y) to ₹482 crore in the March quarter of FY25, from ₹114 crore in the March quarter of FY24. The revenue from operations jumped 8.3 per cent Y-o-Y to ₹3,836 crore in Q4FY25, from ₹3,540.6 crore in Q4FY24. At the operating level, earnings before interest, tax, depreciation and amortisation (Ebitda) soared 43 per cent annually to ₹861.4 crore in Q4FY25, from ₹602.2 crore in Q4FY24. Subsequently, Ebitda margin expanded 544 basis points (bps) to 22.45 per cent, from 17.01 per cent a year ago. For FY25, revenue from operations stood at ₹15,282.96 crore, as against ₹13,001.33 crore last fiscal year, marking a growth of 17.55 per cent. Notably, the company posted its highest-ever Ebitda and PAT at ₹6,512.96 crore and ₹2,713.61 crore, respectively, for FY25. About NLC India NLC India, formerly known as Neyveli Lignite Corporation India Limited, is a prominent Central Public Sector Undertaking (CPSE) under the Ministry of Coal. The company is primarily engaged in lignite mining and power generation. With major operations in Neyveli, Tamil Nadu, and Barsingsar, Rajasthan, NLC India plays a vital role in the country's energy sector by extracting lignite and using it to fuel thermal power stations. In addition to lignite-based power generation, NLC India has expanded into the renewable energy space, contributing to India's clean energy goals. The company operates several thermal power stations with a total capacity of approximately 3,640 MW and has built a renewable energy portfolio of over 1,421 MW, primarily from solar power.
