What India Government Mint Hyderabad does

India Government Mint Hyderabad is a sovereign minting unit of Security Printing and Minting Corporation of India Limited (SPMCIL), a Schedule-'A' Miniratna Category-I Central Public Sector Enterprise wholly owned by the Government of India under the Department of Economic Affairs, Ministry of Finance. Established in 1803 as the Royal Mint under the Nizam of Hyderabad and relocated to its modern 80-acre Cherlapally campus in 1997, the unit manufactures circulating coins in denominations of Rs. 1, 2, 5, and 10 for supply to the Reserve Bank of India under Government of India directives, alongside commemorative coins, souvenir coins, gold and silver bullion, and medals/medallions for universities, defense organizations, government departments, and temples. The facility operates end-to-end in-house production covering melting, rolling, blanking, annealing, pickling, polishing, and stamping, plus gold refining to 999.99 fineness and precious metal assaying services, supported by approximately 500 production and maintenance staff and state-of-art machinery from global OEMs under ISO 9001:2015 and ISO 14001:2004 certifications.

The business model is anchored on a sovereign procurement contract with the RBI for circulating coin volume (the largest revenue contributor by piece count), supplemented by institutional direct sales of medals/medallions to government, education, and religious customers, DTC e-commerce sales of commemorative and bullion coins through indiagovtmint.in (including an international storefront), and fee-based gold refining and assaying services. Revenue is reported under SPMCIL's consolidated books; the unit itself recorded turnover of Rs. 566.88 crores in FY 2016-17, producing 1,513 million circulating pieces against an annual capacity of 700 million coins and 950 million blanks. Distribution is split across RBI (direct institutional supply), an in-house e-commerce platform, a physical sales counter at the Saifabad Mint Museum opened in 2022, and direct institutional sales, with international reach pursued via coin fairs (Singapore 2022) and a dedicated international portal section.

Recent strategic activity centers on product and channel expansion rather than core mandate change: launch of India's first color souvenir coin (Panchtantra, 2022), Azadi Ka Amrit Mahotsav special series circulation coins (2022), commemorative issues for Guru Tegh Bahadur's 400th Prakash Parv (2022), opening of the Saifabad Mint Museum retail showroom (June 2022), and continued recruitment under Advertisement No. 1/2025. CSR initiatives include MoUs with BECIL, Sahbhagita International Foundation, and TERI. SPMCIL paid a Rs. 240.41 crore dividend to the Government of India for FY 2020-21, underscoring the unit's role as a revenue-generating sovereign asset rather than a discretionary commercial enterprise.

Name

India Government Mint Hyderabad

Legal name

Security Printing and Minting Corporation of India Limited

Website

https://igmhyderabad.spmcil.com

Company type

Private

Founded year

1803

Operating status

Operating

Headcount range

11–50 employees

Short description

India Government Mint Hyderabad is a sovereign minting unit of SPMCIL (Government of India) that produces circulating coins for the Reserve Bank of India, plus commemorative coins, bullion, medals, and gold refining services, serving government, institutional, and collector customers.

Ownership category

akta.pro rank

Product category

Coin Minting and Currency Production

NAICS

Jewelry and Silverware Manufacturing (33991)

SIC

Primary Smelting & Refining Of Nonferrous Metals (3330), Jewelry, Precious Metal (3911)

akta.pro primary industry

Precious Metals Minting & Bullion Products (IMAKAEAJ)

akta.pro secondary industries

Precious Metals Smelting & Refining (IMAKAEAE), Precious Metals Bullion & Concentrates Trading (Gold, Silver, PGM) (IMAKAJAD)

Keywords

• Coin minting
• Currency production
• Commemorative coins
• Medal manufacturing
• Precious metal refining

Headquarters

HQ city

Hyderabad

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D

Revenue model

1. Circulating Coin Production: Manufacturing and supply of coins of all denominations (Rs.10, Rs.5, Rs.2, Rs.1) to Reserve Bank of India as per directives from Government of India
2. Medal and Medallion Production: Producing medals for various government departments, universities, defense organizations, and reputed temples. Also produces medallions, seals and tokens for private and public sector organizations
3. Commemorative Coin Sales: Sale of commemorative coins and souvenir coins to collectors and the public through official e-commerce platform
4. Gold Refining and Assaying: Refining gold and assaying precious metals received from government departments and the public

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

India Government Mint Hyderabad manufactures and supplies circulating coins (Rs. 1, 2, 5, 10, 20 denominations) to the Reserve Bank of India under Government of India directives, with end-to-end in-house production capabilities from melting through stamping. The mint also produces commemorative coins, souvenir coins, and Indian gold/silver coins sold to the public; manufactures medals, medallions, seals, and tokens for universities, defense organizations, temples, and government departments; and operates a gold refining facility producing 999.99 fineness gold bars plus precious metal assaying services.

Product overview

India Government Mint Hyderabad is a unit of SPMCIL engaged in the manufacture and supply of coins to the Reserve Bank of India. The mint produces circulation coins (Rs. 10, Rs. 5, Rs. 2, Rs. 1 denominations), commemorative coins, souvenir coins, and gold/silver coins. Additionally, it manufactures medals and medallions for universities, government departments, and defense organizations. The mint also operates a gold refining facility producing 999.99 fineness gold bars and provides assaying services for precious metals. The mint performs end-to-end coin production processes including melting, rolling, blanking, annealing, pickling, polishing, and stamping.

Differentiator

Problem solved

Functional benefit

Products and services

• Circulation Coins Circulation coins minted in denominations of Rs. 10, Rs. 5, Rs. 2, and Rs. 1 (plus special series) for use as legal tender in India's monetary system, supplied to the Reserve Bank of India.
• Commemorative Coins Non-circulating legal tender coins issued to commemorate special occasions, events, anniversaries, or notable personalities, produced in various metals including gold and silver.
• Souvenir Coins Special commemorative coins sold to collectors, often featuring intricate designs, colored finishes, and thematic packaging for special occasions like festivals and events (e.g., Panchtantra).
• Indian Gold and Silver Coins Gold and silver bullion coins of various weights and purities, including Tirumala Tirupathi Devasthanams silver dollars and coins refined to 999.99 fineness, sold to consumers via the official SPMCIL e-commerce portal.
• Medals and Medallions Medals and medallions produced for universities (Osmania University, JNTU, Andhra University, Central University, Agricultural University), government departments, defense organizations, temples, and Film Festivals, including Police Gallantry Awards and Police tokens.
• Gold Refining Services Gold refining facility that refines gold tendered by licensed dealers into gold bars of 999.99 fineness purity.
• Assaying Services Assay services on precious metals received from Government Departments and the public, testing various metals for purity and authenticity.

Quantifiable outcome

• 1,513 million pieces of circulating coins produced in FY 2016-17
• +2 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered minor.

• TERI (The Energy Resources Institute)minorStrategic or Co-development Partner · 14 February 2023SPMCIL signed MoU with TERI under CSR initiatives. The MoU was signed at SPMCIL Corporate Office in presence of Shri S.K.Sinha, Director (HR), SPMCIL and Shri B.J. Gupta, Chief General Manager (HR), SPMCIL.
• BECIL (Broadcast Engineering Consultant India Limited)minorStrategic or Co-development Partner · 12 April 2022SPMCIL signed MoU with BECIL for Architectural Monument Lighting & Allied Civil Works under CSR initiatives of SPMCIL. The project aims to enhance experience of visitors/tourists at Bibi ka Maqbara, Aurangabad, at an estimated cost of Rs.711 lakhs including operational maintenance for two years.
• Sahbhagita International FoundationminorStrategic or Co-development Partner · 1 April 2022SPMCIL signed MoU with Sahbhagita International Foundation, New Delhi for organizing Community based mass screening programme with cost of Rs.68.00 lakhs for Ovarian Cancer awareness and cervical cancer awareness, and free distribution of sanitary napkins amongst underprivileged/marginalized society in Delhi/NCR under CSR initiative.

Scale indicators8 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Austrian Mint (Münze Österreich): Austrian sovereign mint producing euro circulating coins and the globally traded Vienna Philharmonic bullion coin. Directly comparable as a sovereign mint with strong international bullion franchise.
• Royal Canadian Mint: Canadian sovereign mint producing circulating coins and globally recognized bullion coins (Maple Leaf). Comparable as a sovereign mint with strong international bullion exports and refinery capability.
• United States Mint: U.S. government mint producing circulating coinage, commemorative coins, and bullion (American Eagle). Most direct structural peer — a sovereign mint producing currency plus numismatic products for a large domestic market.
• Perth Mint (Australia): Australia's official precious metals mint, wholly owned by the Government of Western Australia. Operates a precious metals refinery and is a leading global bullion coin producer — directly comparable in minting, refining, and bullion product mix.
• Royal Australian Mint: Australia's circulating coin producer (distinct from Perth Mint), a government-owned mint producing circulating coinage and commemoratives. Comparable sovereign mandate, though smaller bullion business.
• Monnaie de Paris: France's sovereign mint (est. 864 AD) producing circulating euro coins, commemorative coins, and art medals. Comparable as a heritage sovereign mint combining currency production with collectibles and medals.
• Royal Mint (UK): UK's sovereign mint producing circulating coinage for the Royal Mint and offering bullion and commemorative coins globally. Directly comparable as a sovereign mint with refinery capabilities and a consumer-facing bullion/numismatic business.

Emerging players

• PAMP Suisse: Private Swiss precious metals refinery producing minted bars and coins under LBMA Good Delivery standards. Comparable in precious-metals refining precision (akin to IGM Hyderabad's 999.99 fineness gold refining) but operates as a private commercial refiner.

Broad incumbents

• China Banknote Printing and Minting Corporation: State-owned Chinese printer and minter producing banknotes, circulating coins, and commemoratives. Comparable as a sovereign large-scale currency producer in an emerging market, though broader in scope than IGM Hyderabad.

Regional players

• South African Mint: Subsidiary of the South African Reserve Bank producing circulating coins and the Krugerrand — one of the world's most recognized bullion coins. Comparable as an emerging-market sovereign mint with strong bullion brand, but regional geographic focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/india-government-mint-hyderabad

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about India Government Mint Hyderabad