Home  »  Company  »  NMDC Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

NMDC Ltd. Company History and Annual Growth Details

Our Company was incorporated on November 15, 1958 under the Companies Act as National Mineral Development
Corporation Private Limited, a private limited company at Delhi.

The name of our Company was changed from National Mineral Development Corporation Private Limited to National Mineral
Development Corporation Limited in terms of Section 21 of the Companies Act and the approval of the Ministry of Commerce
& Industry, Department of Company Law Administration pursuant to letter no. 11(38)-SL(VI)/59 dated December 30, 1959.
The fresh certificate of incorporation consequent on change of name was issued by the Registrar of Companies, New Delhi on
January 5, 1960.

Pursuant to an order passed by the company law board, New Delhi dated September 24, 1973, the registered office of our
Company was changed from the Union Territory of New Delhi to the State of Andhra Pradesh. The Registrar of Companies,
Andhra Pradesh issued a Certificate of Registration of the Order of the Central Government Confirming Transfer of the
Registered Office from Delhi to Andhra Pradesh on December 27, 1973.

Our Company became a deemed public limited company with effect from March 13, 1975 pursuant to the provisions of
Section 43-A, Section 43 (1A) and Section 43 (1B) of the Companies Act and a new certificate of incorporation was issued on
March 13, 1975.

Our Company was converted into a public company with effect from May 5, 1993. The fresh certificate of incorporation
consequent on the conversion under Section 31/44 of the Companies Act was issued by the Registrar of Companies, Andhra
Pradesh, Hyderabad, on May 5, 1993 changing the status of our Company to a public limited company.

Pursuant to a shareholders resolution dated August 31, 2007, the name of our Company was changed from National Mineral
Development Corporation Limited to NMDC Limited under the provisions of Section 21 of the Companies Act, read with the
Government of India, Department of Company Affairs, New Delhi, Notification No. G.S.R. 507(E) dated June 24, 1985 vide
SRN A22211502. The Corporate Identity Number L13100AP1958GOI001674 and a fresh certificate of incorporation
consequent upon such change of name were issued by the Registrar of Companies, Andhra Pradesh, Hyderabad, on September
17, 2007.

Changes in the Registered Office
Our current Registered Office is situated at Khanij Bhavan, 10-3-311/A, Castle Hills, Masab Tank, Hyderabad - 500173
Andhra Pradesh, India.

The Registered Office of the Company was situated at 167, Golf Link, New Delhi, India and subsequent changes in the
Registered Office are outlined in the table below:

Year Change in address of the Registered Office
1960 70, Jor Bagh, New Delhi, India

1960 11, Parliament Street, New Delhi - 110 001 India

1961 1/6-B, Pusa Road, New Delhi - 110 060 India

1963 6/4 - B, Gangaram Hospital Marg, New Delhi - 110 060 India

1965 61, Ring Road, Lajpat Nagar - III, New Delhi - 110 014 India

1971 Mohan Singh Place, Irwin Road, New Delhi -India.

1972 B-35, Defence Colony, New Delhi - 110 013 India

1973 109, 109-A, First Floor, Surya Kiran Building, Kasturba Gandhi Marg, New Delhi - 110
001 India.

1974 Mukarramjahi Road, Hyderabad 500 001 Andhra Pradesh, India.

1977 Pioneer House, 6-3-653, Somajiguda, Hyderabad - 500 004 Andhra Pradesh, India.

1984 Khanij Bhavan, 10-3-311/A, Castle Hills, Masab Tank Hyderabad - 500173 Andhra
Pradesh, India.

Certain corporate records and the prescribed forms filed with the relevant Registrar of Companies in respect of the changes in
the registered office since incorporation of our Company cannot be traced. Please refer to the section titled 'Risk Factors' on
page xiii of this Red Herring Prospectus.

Major Events and Milestones

Year Event

1958 Our Company was incorporated as a government company under section 617 of the Act.

1966 Acquired the Panna Diamond Project

1968 Commenced production of iron ore from Bailadila Deposit No.14.

1977 Commenced production of iron ore from Bailadila Deposit No.5.

1977 Commenced production of iron ore from Donimalai Iron Ore Mine.

1987 Commenced production of iron ore from Bailadila Deposit No.11C.

1989 Incorporated our subsidiary company J & K Mineral Development Corporation Limited as a joint venture with J & K Minerals Limited, to explore and exploit the magnesite mine at Panthal and to produce dead burnt magnesite.

1992 Equity Shares of our Company were split from Rs. 1000 per share to Rs. 10 per share.

1993 Our Selling Shareholder disinvested 2,130,000 Equity Shares of the Company to certain Institutional
Investors and other members of the public

1998 Conferred the Mini Ratna status by Department of Public Enterprise, Government of India, which enabled our Board of Directors to exercise certain capital expenditure powers without reference to Government of India.

2002 Commenced production of iron ore from Bailadila Deposit No.10/11A.

2005 Closed the operations of diamond mine at Panna as per the directives of the Madhya Pradesh
Pollution Control Board

2008 Accredited as the - Centre of Excellence - in the field of mineral processing by the Expert Group of United Nations Industrial Development Organisation (UNIDO).

2008 Equity Shares of our Company were split from Rs. 10 per share to Re. 1 per share.

2008 Declared a bonus in the ratio of 2:1 wherein our shareholders were allotted two bonus shares for
every one share held in our Company.

2008 Entered into a memorandum of understanding with Spice Metals and Minerals for the formation of a
strategic partnership for planning, acquisition, development and management of metal and mineral
projects outside India.

2008 Incorporated a joint venture NMDC-CMDC Limited with Chhattisgarh Mineral Development
Corporation Limited to develop Bailadila iron ore Deposit No. 13.

2008 Conferred the Navratna status by Department of Public Enterprise, Government of India which enabled the Board of our Company to exercise certain enhanced capital expenditure powers without reference to Government of India.

2008 Ventured into new area - Wind Energy. Seven units of Wind Electricity Generators having a capacity of 1.5 MW each have been commissioned.

2009 Recorded a turnover of Rs.75,640 million, profit after tax of Rs. 43,720 million and paid dividend of 221% to the shareholders of our Company.

2009 Re-opened its diamond mine at Panna after a gap of 4 years after the Supreme Court allowed the mine to operate.

2009 Entered into a memorandum of understanding with Steel Authority of India Limited for the development of the Arki Limestone deposit for the supply of low silica high grade limestone primarily to the steel plants of our Company and Steel Authority of India Limited.

2009 Entered into a memorandum of understanding with the Department of Mines & Geology,
Government of Jharkhand for carrying out geological exploration in Jharkhand for various minerals like iron ore, lime stone, bauxite etc.

2010 Entered into a memorandum of understanding with the Department of Mines & Geology, Government of Andhra Pradesh and Andhra Pradesh Mineral Development Corporation for the exploration and exploitation of iron ore and gold in the State of Andhra Pradesh.

Awards and Recognition

We received the following awards and recognitions for achieving and maintaining high standards in various aspects of our
business.

Year Award/Recognition
1998 Conferred the Miniratna status which enabled the board of our Company to inter alia exercise certain capital expenditure powers without reference to the Government of India upto Rs. 30,000,000,000 or equal to their networth whichever is lower and to establish joint venture and subsidiaries in India with the stipulation the stipulation that the equity investment of the public sector enterprises should be limited to Rs. 1000,000,000 in any one project, should not exceed 5% of the networth of the public sector enterprise in any one project or 15% of the networth of the public sector enterprise in all joint ventures / subsidiaries put together.

2008 Conferred the Navratna status which enabled the board of our Company to inter alia exercise certain capital expenditure powers without reference to the Government of India wherein the ceiling on equity investment to establish financial joint ventures and wholly owned subsidiaries in India or abroad shall be 15% of the networth of the public sector enterprise in one project limited to Rs. 10,000,000,000 subject to the overall ceiling of 30% of the networth of the public sector enterprise on such investment in all projects put together.

2008 Achieved the first rank among the financial ranking of central public sector enterprises as per the survey carried out by Department of Public Enterprises, Ministry of Heavy Industries and Public Enterprises for the year 2007-08 on the basis of overall performance on financial and other parameters.

2008 Awarded the Rajbhasha shield - 1st prize for the year 2007-08 of the Town Official Language
Implementation Committee (undertakings) Hyderabad, Secunderabad, for excellent plementation of the official language policy amongst the public sector undertakings situated in twin cities.

2009 Received the first prize of the Government of Indias Indira Gandhi Rajbhasha Shield for excellent
implementation of the official language policy and progressive use of Hindi amongst the public sector undertakings of region C for the year 2006-2007.

2009 Awarded the Steel Ministrys Rajbhasha shield for excellent implementation of the official language policy and progressive use of Hindi amongst the public sector undertakings of region C for the year 2007-2008.

2009 Accredited the CAPEXIL Award and Certificate for Top Exporter for the year 2008-09.

2009 Accredited as one of the Fastest Wealth Creator for the years 2004-2009 pursuant to the 14th Annual Wealth Creation Study by Motilal Oswal Securities Limited dated December 17, 2009.


Certifications

We have been accredited with the following certifications:

Year Certification

2009 The Bailadila Iron Ore Mine certified, by the Indian Register Quality Systems, to conform to Operational Health and Safety Standard (OHSAS) 18001:2007 for all activities related to - 'mining, processing and supply of iron ore'. This certificate is valid until December 23, 2012.

2009 The Donimalai Iron Ore Mine certified, by Det Norske Veritas to conform to Operational Health and Safety Standard ('OHSAS') 18001: 2007 certification for 'mining and processing of iron ore'. The certificate is valid until December 17, 2012.

2009 The Donimalai Iron Ore Mine certified, by Indian Register Quality Systems, to conform to the Quality Management System Standard: ISO 9001:2000 for 'mining, processing and supply of iron ore'. The certificate is valid until February 19, 2011.

2007 The research and development centre of our Company was certified, by Indian Register Quality Systems, to conform to the Quality Management System Standard: ISO 9001:2000 for 'design and development of bulk material handling, slurry transportation and mineral processing technology; development of mineral based new products'. The certificate is valid until October 23, 2010.

2007 The Bailadila Iron Ore Project Deposit 14 and 11C certified, by Indian Register Quality Systems, to conform to the Quality Management System Standard: ISO 9001:2000 for 'mining, processing and supply of iron ore. The certificate was valid until November 14, 2009
In order to renew the above certificate, a re-certification audit has been conducted by the auditors of Indian Register Quality Systems from November 10, 2009 until November 13, 2009. Our Company is seeking a fresh ISO 9001: 2000 Certificate of Approval.

2007 The Bailadila Iron Ore Project Deposit 5, 10 and 11A of our Company, certified, by Indian Register Quality Systems, to conform to the Quality Management System Standard: ISO 9001:2000 for 'mining, processing and supply of iron ore'. The certificate was valid until November 17, 2009.

In order to renew the above certificate, a re-certification audit has been conducted by the auditors of Indian Register Quality Systems from November 14, 2009 until November 16, 2009. Our Company is seeking a fresh ISO 9001: 2000 Certificate of Approval.

Our Company is in the process of acquiring an Operational Health and Safety Standard ('OHSAS') 18001: 2007 certification
from Indian Register Quality Systems for all activities related to 'mining and processing of iron ore'for the Bailadila Iron Ore
Mine of our Company situated at Kirandul.

In order to receive the above certificate, a BS 18001: 2007 certification audit has been conducted by the auditors of Indian
Register Quality Systems from November 2, 2009 until November 4, 2009. Our Company is seeking the OHSAS 18001:2007
certification.

2010

- State-run NMDC Ltd has inked a shareholders' agreement with Kopano Logistics Services to form a joint venture company for exploration and development of mines in South Africa.
 
Subscribe now to get personal finance updates in your inbox!