MMTC-PAMP, India’s only fully integrated ecosystem for gold and silver, announced its entry into the prestigious Fortune 500 India list which ranks India’s largest corporations by revenue. It is the brand’s debut on the index which was first instituted by Fortune India in 2010. With an annual reported revenue of Rs. 21,204 Cr in FY21, MMTC-PAMP ranks number 68th on the index, the highest amongst the new entrants in the list.
Speaking on the occasion, Mr. Vikas Singh, MD & CEO, MMTC-PAMP said, “As India’s largest refinery for both gold and silver, we are humbled to be ranked highest among all debutants in the latest Fortune 500 India List. We have the capacity to fulfil about 30% of India’s requirement for gold, and in the last two years have set up a robust b2c business where we sell 24K, 999.9 purest gold coins and bars, premium silver products, and digital gold, an innovative new age investment instrument, direct to consumers. With the gold jewellery buyback, and old gold refining business we have set up a strong mechanism which can recycle the large deposit of old gold which lies idle in Indian households. Our debut in the Fortune 500 rankings in tough market conditions stands testament to our efforts towards ensuring the highest standards in quality, purity, corporate ethics and other aspects of our operations. It also underlines the faith our customers have on our products and their recognition of the brand’s relentless focus on customer centricity. The enterprise value for FY21 is the strongest indicator of millions of customers’ trust in MMTC-PAMP.”
With customer-centricity at its core, MMTC-PAMP was established in 2008 as a joint venture between MMTC Ltd., a Govt. of India undertaking, and Switzerland based bullion brand MKS PAMP. MMTC-PAMP has been continuously leveraging innovation and technology to provide world-class products to customers. MMTC-PAMP India Pvt. Ltd. has created India’s largest precious metals integrated ecosystem over the last decade. We are the only good delivery refinery in India to be simultaneously accredited by London Bullion Market Association (LBMA) and India Good Delivery Standard. Our offerings (Bullion, Casted bar, Minted coins, etc.) stand out across the precious metals value chain, while our services like Refining, Gold Accumulation Plan (Digital Gold), Gold Buyback, Hallmarking, etc. can be benchmarked against the best global standards. We are proud to be one of Asia’s largest refineries, importing gold and silver ore from over 20 mines globally. We have received several awards since our inception from local and global industry bodies for the transparency and sustainability that we rigorously uphold in our acquisition, refining and supply of precious metals in the Indian market.
The company is one of the pioneering players in the Indian precious metal market and is today India’s largest gold refiner and fabricator with an annual refining capacity of more than 300 tonnes of gold and 600 tonnes of silver. A top-notch team is building a culture of innovation and new age products like digital gold that has democratised investments in gold, as people can start investing in the yellow metal for as low as Rs. 1 directly from their smartphones.
MMTC-PAMP launched its own direct to customer digital channel shop.mmtcpamp.com to sell 24K, 999.9 purest gold and 999.9 purest silver coins and bars direct to customers. This is in addition to the 12 Purity Verification Centres the brand runs across India to sell minted gold and silver products, and buy back old gold. The brand remains an integral partner to the Govt of India’s Gold Monetisation Scheme.