Tag: Shri Sumit Deb

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Australian High Commissioner to India, The Hon Barry O’Farrell AO visits NMDC

Mar 12, 2021 by Rekha Nair 0 Comments #Australian High Commissioner to India, #CMD – NMDC, #Shri Sumit Deb, #The Hon. Barry O’Farrell AO

Hyderabad: The Australian High Commissioner to India, The Hon Barry O’Farrell AO visited NMDC, the country’s largest Iron Ore producing Navratna Company, along with Ms Sarah Kirlew, Consul General (South India) and Mr Percy Bell, Minister-Counsellor (Economic). They met Shri Sumit Deb, CMD, NMDC; Shri Amitava Mukherjee, Director (Finance); Shri Alok Mehta, Director (Commercial) and Shri Somnath Nandi, Director (Technical). The delegation discussed how Australia can be of NMDC’s interest in critical and strategic mining activities. They also dwelled upon mutual cooperation and investment opportunities in mining in Australia.

Australia,a mineral rich nation and its mineral industry is a significant contributor to its export trade. Australia is one of the world’s leading producers of bauxite, iron ore, lithium, gold, lead, diamond, rare earth elements, uranium, and zinc. Australia also has large mineral sand deposits of ilmenite, zircon and rutile. In addition, Australia produces large quantities of coal, manganese, antimony, nickel, silver, cobalt, copper and tin.

NMDC, with an experience of over six decades in mining is present in Australia through its subsidiary, Legacy Iron Ore Ltd and is undertaking exploration activities for gold projects.

Speaking on the visit Shri Sumit Deb, CMD – NMDC, commented, “We are very happy to host the Australian High Commissioner to India, The Hon. Barry O’Farrell AO. NMDC is always looking to expand horizons and utilise the expertise that we have accrued over the years. He apprised us of the different opportunities available in Australia and we had a constructive discussion on the prospects of a joint collaboration.”

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NMDC achieves best ever Production and Sales in February

Mar 3, 2021 by Rekha Nair 0 Comments #CMD, #NMDC, #Shri Sumit Deb

Hyderabad: NMDC, the country’s largest Iron Ore producer, has witnessed a spectacular growth during the month of February 2021 both in production and sales performance over the CPLY.

Iron ore production for the month of February 2021 stands at 3.86 MT as against the 3.24 MT of ore mined in the corresponding month in February 2020, and registered a growth of 19% over the same.

Sales during the period of February 2021 increased by 12% at 3.25 MT as against the 2.91 MT done in the month of February 2020.

The Bailadila Projects at Chhattisgarh has produced 3.15 MT in February 2021 as compared to last year’s production of 2.93 MT in the month of February, and registered a growth of 8% in production.

The total sales of iron ore from Bailadila projects in the month of February 2021 is 2.62 MT against 2.42 MT in February 2020, which is 8% higher than the previous year.

Speaking about the production and sales numbers of February 2021, Shri Sumit Deb, CMD, NMDC, commented, “These production and sales figures definitely display NMDC’s strong character to bounce back in spite of operational challenges. This achievement is possible only due to the hard-work and commitment demonstrated by the employees. We foresee a gradual rise in numbers and will continue to set new records.”

NMDC has recently restarted the operations at Donimalai mines. The mines have a capacity to produce a minimum of 0.5 MT of iron ore per month and the overall performance of the company will be further enhanced with the resumption of operations in Donimalai.

Business World

NMDC wins two prestigious CSR Awards

Feb 19, 2021 by Neel Achary 0 Comments #Business Leader of the Year, #CMD, #Navratna CPSU, #NMDC, #Shri Sumit Deb, #the country's largest Iron Ore producer

Hyderabad: NMDC, the country’s largest Iron Ore producer, and a Navratna CPSU was awarded the Business Leader of the Year, PSU sector in organizational category for CSR Initiatives (Social Development) and the Best CSR Practices category, at the World CSR Day & Congress on 17th and 18th February, 2021 at Mumbai.

World Leadership Congress & World CSR Congress recognize Business leaders, the efforts and commitments of leaders and organizations that improve social effectiveness. The 29th edition of the award saw huge participation from global dignitaries and visionaries from over 133 countries. The Business leader of the Year, PSU Sector in organizational category, for CSR Initiatives (Social Development) Award was received by Shri Sumit Deb, CMD, NMDC.

The awards recognise the role that organisations in India play in providing a more sustainable and equitable society. The awards highlight those companies who have embraced best business practices including CSR and sustainability initiatives and made it a key component in the organizational ethos thereby delivering a clear benefit and impact on the environment and people.

NMDC has been at the forefront of CSR – Corporate Social Responsibility and has consistently been one of the biggest social improvement influencers through sustained organization wide CSR activities. Being a responsible corporate citizen, the company is a pioneer in addressing its responsibility towards society. The beneficiaries are mostly the underprivileged communities staying in proximity of NMDC operations, which are mostly in remote areas. NMDC has focussed on providing education and affordable medical services. NMDC pledges to stay by the people and provide them with the best facilities that will lead to a better life. In January this year NMDC won the Platinum Award in Metal & Mining for Shiksha Sahayog Yojana for their education-led CSR initiatives in Bastar region of Chhattisgarh.

Shri Sumit Deb, CMD, NMDC said “NMDC has always looked at CSR to provide an impetus to sustainable development and encourages ongoing social responsibility processes within the corporate sector. NMDC has been aiming to improve literacy, provide better medical care and infrastructure development in the surrounding areas of our Projects. We are glad that our efforts have helped the local community to grow socially & economically which inspire us to perform every day.”

Business World

NMDC delivers a strong quarter: Excellent performance in Q3 of FY21

Feb 9, 2021 by Neel Achary 0 Comments #CMD, #NMDC, #Shri Sumit Deb

Hyderabad: NMDC, the country’s largest Iron Ore producing Navratna Company delivered another strong operating and financial performance in this quarter.

NMDC’s turnover during the 3rd quarter of 2020-21 is Rs.4,355 crore as against the turnover of Rs.3,006 crore of the CPLY which is 45% more than CPLY. The turnover in this quarter is the best ever for any quarter for NMDC since inception. NMDC’s Profit Before Tax (PBT) for the Q3 of 2020-21 is Rs.2,811 crore against Rs.1,647 crore during Q3 of 2019-20 by 71% over CPLY. The Profit After Tax (PAT) for Q3 of 2020-21 increased by 53% to Rs.2,109 crores against Rs. 1,376 crore during Q3 of 2019-20.

NMDC produced 9.60 million tonnes (MT) and sold 9.28 million tonnes (MT) of iron ore in the third quarter of FY21. Despite COVID induced adversities, iron ore production and sales figures for the nine months of the financial year 2020-21 are at par with nine months of the previous financial year.

Performance of the current Quarter with Q3 of previous year and Q2 of current year, with the numbers of current year V/s previous year (nine months ended) are:

Particulars Q3 of CY V/s Q3 of PY Q3 of CY V/s Q2 of CY Current Year V/s Previous Year

(Nine months ended)
Production (MT)

 

Sales (MT)

 

Turnover (Rs. In Crore)

 

PBT (Rs. In Crore)

 

PAT (Rs. In Crore)

 

EBIDTA (Rs. In Crore)

 9.60

 

9.28

 

4,355

 

2,811

 

2,109

 

2,873

 8.58

 

8.41

 

3,006

 

1,647

 

1,376

 

1,721

 9.60

 

9.28

 

4,355

 

2,811

 

2,109

 

2,873

 5.64

 

6.60

 

2,230

 

1,063

 

774

 

1,119

 21.84

 

22.16

 

8,522

 

4,635

 

3,415

 

4,819

 22.01

 

22.90

 

8,512

 

4,641

 

3,259

 

4,899

 Shri Sumit Deb, CMD, NMDC expressed satisfaction at the overall results and said, “We have realigned our strategy to focus on optimum utilization of resources. The various steps undertaken to reduce costs, improve output and maximize profitability have led us to bounce back after initial set back in Q1 due to COVID-19 pandemic and set new records in this quarter. We are positive that we will continue to excel with the growing raw material demand from the steel sector and create new benchmarks.”

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NMDC celebrates 72nd Republic Day with a commitment to continue shaping India’s future

Jan 27, 2021 by Rekha Nair 0 Comments #CMD, #CVO, #Director - Production, #Director (Commercial) and Shri V.V.S. Sreenivas, #Director (Finance), #NMDC, #Shri Alok Kumar Mehta, #Shri Amitava Mukherjee, #Shri P.K. Satpathy, #Shri Sumit Deb

Hyderabad: NMDC, India’s largest iron-ore miner and a Navaratna PSE celebrated the 72nd Republic Day with patriotic fervour, following strict Covid protocols and maintaining social distancing.The programme commenced with flag hoisting by Shri Sumit Deb, CMD, NMDC. As a part of celebration,30 minutes programmewas conducted which also went live on social media handles.Along with Shri Sumit Deb, CMD, NMDC, Shri P.K. Satpathy, Director – Production, Shri Amitava Mukherjee, Director (Finance), Shri Alok Kumar Mehta, Director (Commercial) and Shri V.V.S. Sreenivas, CVO were also present on this occasion.

Speaking on this occasion, Shri Deb said that “This was a challenging year and while the pandemic had an effect on our production at first,we have treated this challenge posed by the pandemic as an opportunity to sustain production volumes and upgrade our production process. In line with the thoughts of our constitution, as an organisation, NMDC have worked towards improving the lives of people living near the mines by empowering women facilitating access to healthcare,and transformational impact on education.” He also emphasised NMDC has taken forward the vision to help India emerge as a global power in mining with a positive thrust on social development.

NMDC invited the winners of the online Chess Tournament and Drawing Competition conducted on their 63rd Foundation Day. In the spirit of encouraging young children – the future of our country – NMDC felicitated the winners and showcased their paintings in the Art Gallery.

Ensuring COVID-19 restrictions, few indoor games were conducted prior to the Republic Day. The witnners of various games were awarded with prizes by the dignitaries.

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NMDC FUNDS 10 MOBILE MEDICAL UNITS IN BALLARI DISTRICT, KARNATAKA

Jan 5, 2021 by Rekha Nair 0 Comments #CMD, #Deputy Commissioner Ballari, #NMDC, #Shri S.S. Nakul, #Shri Sumit Deb

Karnataka: Shri Sumit Deb, CMD, NMDC flagged off 10 Mobile Medical Units (MMU) to facilitate access to public healthcare in Sandur and Hospet taluks, at Donimalai Complex Karnataka on January 2, 2021. The ceremony was attended by Shri Devendrappa, MP Ballari; Shri E. Tukaram, MLA Sandur; Shri S.S. Nakul, IAS Deputy Commissioner, Ballari; Smt K.R. Nandini, IAS CEO Zilla Panchayat, Ballari; and Shri P.K. Satpathy, Director (Production), NMDC; Shri Sanjeev Sahi, CGM Donimalai Complex, NMDC.

The operation of MMU was instituted by Shri S.S. Nakul, Deputy Commissioner Ballari. NMDC LImited partnered with state authorities to provide the requisite funds for the operation of 10 Mobile Medical Units. NMDC has devoted a budget of INR 10.26 Crores for 3 years out of which INR 171 Lakhs was released as the first instalment. The Mobile Medical Units, natively called Amrutha Vahini, will provide basic healthcare facilities at the doorstep of people living in remote, vulnerable, and under-served regions.

Shri Sumit Deb, CMD, NMDC said, “NMDC makes sincere efforts to improve the quality of life and health outcomes of people living in and around the mines. Taking a step further in this direction, the Mobile Medical Units will increase accessibility of medical care in remote areas like Sandur and Hospet. We are grateful to the state authorities for this noble opportunity and their cooperation.”

Business World

December performance helps NMDC end the year on a good note

Jan 1, 2021 by Neel Achary 0 Comments #CMD, #NMDC, #Shri Sumit Deb

Hyderabad: NMDC, the country’s largest Iron Ore producer, and a Navratna Company, continued the impressive performance run in the month of December 2020 also. This is the 5th month in 2020, when production and sales showed an uptick when compared to the CPLY.

Iron ore production for the month of December 2020 is 3.86 MT (Million Tonnes) against the production level of 3.13 MT in December 2019, thereby registering a growth of 23.3%.

Iron ore production in Q3 of FY20 is 9.61 MT against the production of 8.56 MT in Q3 of FY19, thereby registering a growth of 12.3% (CPLY).

Iron ore sales for the month of December 2020 is 3.62 MT against the sales level of 3.04 MT in December 2019, thereby registering a growth of 19.1%.

Iron ore sales in Q3 of FY20 is 9.44 MT against the sales in Q3 of FY19 is 8.44, thereby registering a growth of 11.8% (CPLY).

NMDC is steadily improving its performance every month and continues to enhance the production level month on month. The performance of the last few months and December showcases production and sales will exceed last year’s performance, despite the adverse circumstances of 2020. The performance proves NMDC’s ability to battle any challenge and maintain its leadership position in the industry.

Shri Sumit Deb, CMD, NMDC commented “The steady growth in performance has helped us end the year on a good note. We are on our way to better the cumulative figures both physical and financial parameters of the previous year. Indian steel industry revival needs support to tide over the crisis and we are doing our best to cater to it. Team NMDC has always kept the nation’s interest in mind, and we hope to continue this excellent performance in the new year.”

Business World

November performance helps NMDC grow from strength to strength

Dec 3, 2020 by Neel Achary 0 Comments #CMD, #Iron Ore producing Navratna Company, #NMDC, #Shri Sumit Deb

Hyderabad: NMDC, the country’s largest Iron Ore producing Navratna Company, continued to better the operational performance during the month of November 2020 in production and sales over the CPLY.

Iron ore production for the month of November 2020 is 3.32 MT (Million Tonnes) has registered a growth of 13%, despite restrictions and unfavorable weather conditions against the production of 2.94 MT in November 2019.

Iron ore sales for the month of November 2020 improved to 3.30 MT has registered a growth of 18 % against the 2.79 MT in sales that NMDC achieved in the corresponding month of November 2019.

Production and sales are on an uptick and showing healthy growth each month. This is gradually catching up to the level of 2019’s production and sales.

NMDC is continually maintaining strong performance indicators for the last few months and is expected to reach last year’s production levels in the next few months. NMDC is determined to continue this growth streak. The production is also being continuously scaled up to compensate for the earlier loss. The industry has started responding to the positive sentiments of the economy and demand is expected to go up in the next FY. NMDC is confident to cater to the needs of both national and international customers.

Shri Sumit Deb, CMD, NMDC expressed satisfaction with the performance of NMDC and said “The company’s monthly performance has transcended November 2019’s production and sales and we will soon catch up with the cumulative figure of the previous year. I am hopeful that the performance will improve further on the back of better demand and gradual improvement in ground conditions. I would like to congratulate team NMDC for this outstanding performance; it is their hard work and determination that is paying off.”

Business World

NMDC bestowed with the National HR Best Practice Award by NIPM

Nov 27, 2020 by Gouri Achary 0 Comments #National HR Best Practice Award, #NIPM, #NMDC, #Shri Sumit Deb

NMDC, the country’s largest Iron ore mining company has been honoured with ‘National HR BEST Practices Award 2019’ by the National Institute of Personnel Management (NIPM). The Gold category award recognises the best-in-class workplace practices that affect enterprise-wide success in using Human Resource as a strategic business tool for enhanced results. NMDC was recognised for its unique and constructive Human Resource Practices. NMDC has been accorded this special recognition for its industry-leading and progressive HR practices.

The NIPM National HR Best Practice Award is instituted to recognise the HR perceptions and aspirations across several industries. The award offers an insight into how industries in large sectors can align their employer brands to aspirations and thoughts of their workforce. The purpose of the award is to recognize an organization that has been able to align successful HR programs and policies with the company’s business objectives. NMDC Limited has been successful in creating an ecosystem which empowers employees to enhance their skill sets and demonstrates the importance of HR practices for strategic success.

Commented on the award Shri Sumit Deb, CMD, NMDC said, “We believe that our people are our most important assets. NMDC is always working towards implementing internationally recognised best practices to ensure employee and organizational growth is aligned. We are immensely pleased to receive the ‘National HR Best Practice Award’ for the modern outlook & futuristic mindset. This recognition of being one of the best HR practitioners in India is a culmination of the efforts of the HR team and I congratulate them for winning this award.”

For NMDC, the core ethos has always been engaging with its employees and stakeholders with proactive and positive HR policies. The award is a testimony to its contemporary HR policies and strives to build a work environment that focuses on creating an engaged, diversified, productive and healthy workforce through employee-friendly initiatives.