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 MMTC-PAMP’s debut on the index which was first instituted by Fortune India in 2010. With an annual reported revenue of Rs 21,204 crore in FY21, MMTC-PAMP ranks number 68th on the index, the highest amongst the new entrants in the list.
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 24-karat, 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.”
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. It has created India’s largest precious metals integrated ecosystem over the last decade. It is the only good delivery refinery in India to be simultaneously accredited by London Bullion Market Association (LBMA) and India Good Delivery Standard. The company is India’s largest gold refiner and fabricator with an annual refining capacity of more than 300 tonnes of gold and 600 tonnes of silver.