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Mony K. Mathew

Thiruvananthapuram , Sept. 4

AS many as four State-owned public sector undertakings in Kerala will have their sickness determined by the Board for Industrial and Financial Reconstruction (BIFR) this month.

The Kerala PSUs figuring in the hearing schedule of BIFR for September are: Keltron Component Complex Ltd (KCCL), Sitaram Textiles, Kerala State Textile Corporation (KSTC) and Traco Cable Company.

Despite having been referred to BIFR, the operations of some of these PSUs have improved of late and the net worth of one of them, KCCL, had even turned positive in 2003-04 as per the review of the Bureau for Public Enterprises.

During that year, KCCL recorded its highest production of aluminium electrolytic capacitors. The company registered a net profit of Rs 3.67 crore and the accumulated loss came down to Rs 2.32 crore from Rs 5.99 crore in the previous year.

According to the working results for 2004-05, KSTC made an operating profit of Rs 1.75 crore as against an operating loss of Rs 6.38 crore in the previous year.

The cash loss could also be brought down to Rs 3.23 crore. The corporation was making an operating profit after 14 years.

The State Government has sanctioned Rs 7 crore for the renovation of mills under KSTC, the work on which has commenced.

Besides, the management has submitted a modernisation project worth Rs 40 crore to the Government.

In the case of Sitaram Textiles, the BPE review shows that while the company could increase the production and sales of cotton yarn in 2003-04, it did not produce any cloth during the year.

The net loss marginally increased to Rs 2.57 crore from Rs 2.55 crore in the previous year.

The accumulated loss of the company increased from Rs 32.49 crore to Rs 35.53 crore. The net worth remained negative at Rs 29.58 crore as against Rs 26.54 crore in the previous year.

The performance of review of Traco Cable reveals a 16 per cent decline in turnover in 2003-04.

However, the net loss came down by eight per cent to Rs 8.12 crore from Rs 8.87 crore in the previous year.

The accumulated loss of the company increased to Rs 25.78 crore from Rs 17.66 crore in 2002-03.

The net worth, which continued to be negative, went up sharply to Rs 8.78 crore from Rs 65.79 lakh in the previous year.

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