Mysore/Mysuru: City-based Mysore Paints and Varnish Limited (MPVL), also known as MyLAC, has received orders from the State Election Commission for supply of 99,000 vials of indelible ink (5ml each) and 6,580 packets of sealing wax for the upcoming Gram Panchayat (GP) elections.

Addressing a press conference at his Office in Bannimantap this morning, MyLAC Chairman N.V. Phaneesh said that the new order will generate a revenue of Rs. 1.15 crore. “We have supplied indelible ink for the recently held Bihar Assembly election and Lok Sabha by-elections in different States,” he added.

Phaneesh also said “Ballot marking pens were supplied recently for Council elections in Karnataka, Maharashtra, Telangana, Rajasthan, Uttar Pradesh, Madhya Pradesh and Bihar. We have 90 permanent employees to produce the ink and due to the demand we have hired 50 more employees on contract basis.” 

For the year 2020-2021, MyLAC had set a target of Rs. 20 crore and of which, it has achieved Rs. 12.25 crore by the end of November this year. The previous year, the company has recorded a turnover of Rs. 21.52 crore and has earned a profit of Rs. 4.70 crore. 

“The company has declared a dividend of 25 percent to its shareholders in 2019-2020 and will handover Rs. 23.68 lakh as a profit share of Karnataka Government. We have exported indelible ink to the tune of Rs. 2.17 crore and have allocated Rs. 20.57 lakh for activities under Corporate Social Responsibility,” Phaneesh added.