The Hindu Business Line : Kerala PSEs incur net loss of Rs 219 crore

The performance of the PSUs was, however, slightly better than the previous year when the net loss amounted to Rs 227.87 crore. The combined turnover of the enterprises also increased by Rs 755.42 crore, to Rs 6,894.47 crore from Rs 6,094.05 crore.

According to the performance review of the PSUs for 2002-03 done by the Bureau of Public Enterprises, 34 undertakings earned profits, while 56 others reported losses.

The Plantation Corporation of Kerala Ltd, Forest Industries (Travancore) Ltd and Kerala Industrial Infrastructure Development Corporation reported profits during the year as against losses in the previous year.

Among the profit-making enterprises, Kerala Minerals and Metals Ltd topped the list with Rs 94.03 crore, followed by Kerala State Electricity Board (Rs 80.78 crore), Kerala State Financial Enterprises (Rs 38.07 crore), Kerala Agro Machinery Corporation (Rs 10.03 crore), Kerala State Industrial Development Corporation (Rs 9.14 crore) and Oil Palm India Ltd (Rs 8.94 crore).

In the case of KSEB, it is pointed out that profit was shown by taking into account the receipt of subsidy from the Government, though no subsidy was actually received.

Kerala State Road Transport Corporation incurred the highest loss of Rs 111.94 crore during the year. The others in the list are: Kerala Water Authority (Rs 83,62 crore), Kerala State Housing Board (Rs 66.64 crore), Kerala State Electronics Development Corporation (Rs 49.39 crore), Kerala State Civil Supplies Corporation (Rs 43.95 crore) and Malabar Cements Ltd (Rs 11.50 crore).

The total capital investments in the public enterprises as on March 31, 2003, stood at Rs 18,119.37 crore, which included Rs 6,170.09 crore invested by the State Government. Additional investments to the tune of Rs 1,534 crore were made during the year.

The net worth was negative in the case of 42 enterprises as on March 31, 2003. Two enterprises, Kerala State Handloom Development Corporation and Traco Cable Company, which had reported positive net worth in the previous year, turned negative during the year under review.

The undertakings, which came on top of the negative net worth list, are: KSRTC, Civil Supplies Corporation, Keltron, Kerala State Housing Board and Kerala State Cashew Development Corporation.

During the year, 51 enterprises incurred cash losses amounting to Rs 422.54 crore as against cash losses of Rs 436.31 crore in the previous year. KSRTC incurred the heaviest cash loss, followed by Kerala Water Authority, Kerala State Housing Board, Keltron and Civil Supplies Corporation.

Besides, as many as 57 undertakings reported accumulated losses amounting to Rs 4,183.22 crore. In this case also, KSRTC topped the list with accumulated losses of Rs 1,138.64 crore, followed by Kerala Water Authority (Rs 913 crore), Civil Supplies Corporation (Rs 379.83 crore), Keltron (Rs 333.25 crore) and Cashew Development Corporation (Rs 218.80 crore).

There had been a marked improvement in the matter of dividend payment with 12 enterprises declaring a total of Rs 12.11 crore, compared to Rs 4.33 crore by 11 enterprises in the previous year. The Kerala Minerals and Metals Ltd declared the highest dividend of Rs 6.19 crore.

While nine enterprises were closed down in the past, six more are in the process of being closed down based on Government decisions. These are: Keltron Rectifiers Ltd, Kerala Construction Components Ltd Kerala Soaps and Oils, Metropolitan Engineering Company, Scooters Kerala Ltd and Trivandrum Spinning Mills.

These apart, the Government has initiated steps to close down two enterprises, namely, Kerala State Coconut Development Corporation and Kerala State Rural Development Board.