State Trading Corporation showed a turnover of Rs 3,000 crore during the first five months of the current fiscal year. It posted a profit before tax of Rs 23 crore and is confident to achieve the turnover of Rs 10,000 crore.
To have a stronger hold in the market, STC is going for forward and backward integrations. The corporation has begun a venture in Bulgaria after a successful operation in Philippines. The corporation also plans to venture into mining.
The corporation has contracted to import 55 lakh tonnes of wheat for the government of India against five global tenders, out of which 7.5 lakh tonnes of wheat has already arrived in Indian ports. The corporation is well diversified and is now planning for forward integrations in retail and brand marketing.