Mysore Paints and Varnish Limited (MPVL) chairman N V Phaneesh said on Tuesday that the government-owned company had received an order for 99,000 bottles of indelible ink, 5 ml each, for the upcoming Gram Panchayat (GP) elections, scheduled for December 22 and 27.
MPVL is the only establishment in India to provide indelible ink to the Election Commission (EC). MPVL also provides indelible ink to some foreign nations for conducting elections.
He said MPVL, the company founded by Nalvadi Krishnaraja Wadiyar, king of the erstwhile Mysore state, had received an order for 6,580 packs of sealing wax from the EC for the GP polls. “The total cost of the EC’s orders is Rs 1.15 crore,” he
added.
Phaneesh said, in 2019-20, MPVL had a turnover of Rs 21.52 crore, including Rs 4.59 crore of industrial paints. The major share was of indelible ink, at Rs 16.93 crore. The MPVL has earned a profit of Rs 4.7 crore and a dividend of 25% is announced for shareholders. The state government is the major shareholder, he
said.
Export value
“The export value of the indelible ink, last year, was Rs 2.17 crore. Under corporate social responsibility, MPVL has spent Rs 20.57 crore on social welfare activities. For the current financial year, 2020-21, a target to achieve a turnover of Rs 20 crore is set,” he said.