State-owned MMTC Ltd announced that Asit Gopal (DIN 08542184) has been appointed as a government nominee director on the board, effective January 27, 2026, replacing Ms Arti Bhatnagar. The appointment was formalized through a resolution by circulation pursuant to office order dated January 19, 2026, issued by the Department of Commerce, Ministry of Commerce & Industry, Government of India. The 59-year-old appointee currently serves as Special Secretary and Financial Advisor in the Ministry of Textiles, with additional charge of several other ministries, including Commerce & Industry, Food Processing Industries, Development of North Eastern Region, Heavy Industry, and MSME. Gopal brings over three decades of public administration experience and holds a B.Tech in Civil Engineering from IIT Bombay along with postgraduate qualifications in Wildlife Management, Public Policy & Management, and an MBA.
Asit Gopal has held various key leadership positions throughout his career in government service, spanning diverse sectors including finance, tribal affairs, vigilance, education, sanitation, and forest management. Notable positions include Additional Secretary (Finance), Director in Ministry of Tribal Affairs, Director in Central Vigilance Commission, and Mission Director of Swachh Bharat Mission. His experience also includes significant contributions in the Forest Department across multiple roles. As part of the appointment process, Gopal has confirmed that he is not debarred from holding the office of Director by virtue of any order passed by SEBI or any other authority. The company has also disclosed that the new director is not related to any existing directors of MMTC Limited.
MMTC had reported a standalone profit of ₹133.59 crore for the quarter ended September 30, 2025, compared with a profit of ₹36.67 crore in the preceding June quarter. Profit for the corresponding quarter last year stood at ₹38.16 crore. Total income during the September quarter came in at ₹38.47 crore, lower than ₹71.56 crore in the June quarter and ₹44.58 crore in the year-ago period. Revenue from operations stood at ₹1.10 crore, while other income was ₹37.37 crore. The profit growth was not mirrored in revenue, with the bulk of the company's income derived from non-operational sources, which was also a factor in the previous fiscal year's performance.
MMTC-PAMP is planning to start silver recycling at its existing stores on a pilot basis within three months as rising demand threatens to create serious supply-side constraints. Managing Director and CEO Samit Guha stated that the company is entering silver recycling because the economics are now more favourable, while global mine production capacity shows no signs of significant expansion despite growing demand. The company operates 20 stores for gold recycling that can be adapted to handle silver processing, with plans to double store count over the next five years. MMTC-PAMP imported 60 tonnes of silver versus 36 tonnes of gold during April-December, reflecting strong silver demand. This strategic expansion aligns with the circular economy trend and resource management focus.
MMTC Ltd shares closed at ₹64.97 on January 27, 2026, marking a 1.79% increase on the appointment day. The company commands a market capitalization of approximately ₹9,574-9,584 crore. Historical stock returns demonstrate strong long-term performance with +139.74% returns over 5 years, despite shorter-term volatility showing -7.33% over 1 year and -6.77% over 6 months. The company's trailing twelve-month P/E ratio ranges between 43.33-56.54, reflecting its market positioning and profitability metrics. Silver prices have surged 130-140% globally, hitting a record ₹3,34,300 per kg locally, supporting the company's expansion into silver recycling operations. Recent market activity saw a notable volume surge on January 14, 2026, which the company clarified was not linked to any specific reportable event.
