Financial Daily from THE HINDU group of publications
Monday, Feb 13, 2006
Financial Daily from THE HINDU group of publications Monday, Feb 13, 2006 |
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Industry & Economy
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PSU Kerala PSUs post Rs 222-cr loss in 2004-05 Our Bureau
Thiruvananthapuram , Feb. 12 THE State-level public sector enterprises (SLPEs) in Kerala recorded a net loss of Rs 221.69 crore in 2004-05. Of the total 87 active SLPEs in the State, 38 enterprises recorded profits totalling Rs 279.81 crore, as against a total profit of Rs 288.02 crore earned by 40 enterprises in 2003-04. The remaining 49 enterprises incurred losses amounting to Rs 501.50 crore during the year, according to the latest performance review by the Bureau of Public Enterprises. Three SLPEs, namely, Kerala Forest Development Corporation, Meat Products of India and Kerala Industrial Infrastructure Development Corporation (Kinfra), which had incurred losses in the previous year, reported profits in 2004-05. The top profit-making enterprise included Kerala State Electricity Board (KSEB), Kerala State Financial Enterprises (KSFE), Kerala Minerals and Metals Ltd and Kerala State Industrial Development Corporation. Among the loss-making SLPEs, Kerala State Road Transport Corporation (KSRTC) topped the list, followed by Kerala State Civil Supplies Corporation, Kerala Water Authority and Kerala State Housing Board. The Kerala State Electronics Development Corporation, Travancore-Cochin Chemicals Ltd, Traco Cable Company and Steel Industrials Kerala Ltd, all under the Industries Department, also figured in the list of top10 loss-making enterprises. During the year under review, the SLPEs registered a total turnover of Rs 8,201 crore as against Rs 7,592.27 crore in the previous year, marking an increase of 8.12 per cent. The highest turnover was posted by KSEB, followed by State Beverages Corporation and KSRTC. The total capital invested in the enterprises stood at Rs 18,875.25 crore as on March 31, 2005. The return on investment remained negative during the year also. The maximum investment was in KSEB (Rs 6,094.33 crore), which constituted 32.29 per cent of the total investments. The other enterprises with major investments of above Rs 500 crore included Kerala Water Authority, Kerala State Housing Board, KSFE, Kerala Power Finance Corporation and Kerala Financial Corporation. The net worth was negative in 28 enterprises as at the end of March 2005. The net worth had fully eroded and become negative in the case of Traco Cable Company, Keltron Component Complex Ltd and the State Bamboo Corporation. KSRTC showed the highest negative net worth, followed by State Civil Supplies Corporation, Keltron, State Housing Board and the Kerala State Cashew Development Corporation. The total accumulated losses of the SLPEs stood at Rs 5,133 crore at the end of the year. KSRTC with an accumulated loss of Rs 1,420.67 crore topped the list, followed by Kerala Water Authority (Rs 1,159.53 crore), State Civil Supplies Corporation (Rs 536.10 crore), Keltron (Rs 442.56 crore), State Cashew Development Corporation (Rs 347.62 crore), State Housing Board (Rs 317.59 crore) and Autokast Ltd. (Rs 127.33 crore). Only 13 SLPEs declared dividends, worth Rs 13.59 crore, during the year under review. KMML declared the highest dividend of Rs 6.19 crore. The other enterprises in the list included KSFE (Rs 2 crore), Oil Palm India (Rs 1.18 crore) and Tourist Resorts (Kerala) Ltd (Rs 69 lakh).
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