Kochi, April 19
Transformers and Electricals Kerala Ltd (TELK), Angamally has achieved record production of Rs 109 crore in 2005-06.
The State public sector undertaking's expected profit is more than Rs 3 crore. This is the fourth consecutive year that TELK has posted profits despite being declared a sick PSU, said Mr K.R. Vishwambharan, Managing Director.
It is also the first time in its history that production and turnover have crossed Rs 100 crore, he added.
The production target for 2006-07 is Rs 130 crore. By achieving it, TELK can come out of the purview of BIFR. In exports too, the company clocked a record figure of Rs 28 crore in 2005-06, many times higher than the previous years' figures.
TELK currently has orders worth a total of Rs 150 crore. The shortage of working capital and massive retirement of skilled employees are the grave problems it is faced with.
Due to BIFR restrictions, the company is not able to make any fresh appointment, the Managing Director said.
However, with some temporary arrangements, TELK is determined to achieve its production target, he added.