M.D. Overseas Group has been a trusted name for over six decades in the physical and futures trading segment for multiple commodities. Carrying forward its legacy, vast experience and resolution to innovate and excel, the M.D. Overseas Group has maintained its position as a leading importer/exporter of gold and silver in India and recently diversified into the real estate market.
The rich legacy of the Group begins with its founder, Shri Puranmal Bansal, six decades ago. In spite of a modest educational background, the exemplary leader began his career in trade as a 12 year old at the Chamber of Commerce in Hathras, Uttar Pradesh. His immense self confidence, dedication and keen analytical skills led him to move to Delhi and diversify into the physical and future trading business dealing with commodities such as pulses, edible oils, oilseeds and silver bullion.
By the early 70s, the Group gained momentum and structure as it witnessed the introduction of Shri Puranmal Bansalís sons. Since the government of India permitted the export of Silver Bullion from the country during the same decade, the Group seized the opportunity to go on to becoming a leader in the segment. By 1976, the Group had setup its own refinery at Delhi and surpassed its competition to have the first RBI approved and recognized refinery in Northern India.
With a strong belief in adapting and innovating according to market conditions, the Group treated the ban on Silver export in 1978-79, as an opportunity to diversify into the trade of various other items including photographic color films, chemicals, metals, yarns, textiles and more. The period from 1979-82 again presented an opportunity to the Group as silver prices witnessed an unprecedented spurt, which led to heavy arrivals of scrap silver coins from China to Hong Kong. The Group utilized this prospect to penetrate further in the international Bullion market by setting up overseas offices in Hong Kong and New York to actively purchase and ship silver coins/ scrap to European Refineries.
Once the liberalization of the early 90s led to the permission of importing Gold and Silver, the Group, following its policy to acclimatize, took to its core business. Ever since, the flagship company of the Group, M.D. Overseas Ltd., has displayed a steady rise in turnover, much to the satisfaction of shareholders and stakeholders, alike. The average turnover of last three years ending as on 31st March, 2010 stood at around INR 100 Billion ($ 2.20 bn).
Carrying out operations from two major SEZs and maintaining offices in the major bullion centers in the country including Delhi, Mumbai, Jaipur, Ahmedabad Banglore and Chennai, the progressive Group not only caters extensively to the domestic market, but also provides superior services to the international market.
Due to its extensive presence, the Group enjoys substantial limits and close professional associations with most major public and private sector banks which has assisted in bargaining excellent pricing and service.
Commencing with a world-class residential project in Delhi, the Group has already begun its journey in real estate, seeking to emulate its success from the precious metals industry.
We do proprietory trading on MCX & NCDEX.