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Kerala State Civil Supplies Corporation Ltd, popularly known as Supplyco, has achieved a record turnover of Rs 2,320 crore during the financial year 2010-11, a two per cent growth over the previous fiscal.
Mr Yogesh Gupta, Chairman and Managing Director, said the turnover in 2004-05 was Rs 574 crore, which means a growth of 404 per cent
The Corporation, which had accumulated losses of Rs 599 crore till 2006-07, had started earning operating profits for the first time in its history from 2007-08 and has continued the performance ever since.
At the end of 2010-11, the company has managed a surplus and plans to declare its maiden dividend after 36 years of its existence.
The net profit has also increased in the last fiscal, touching Rs 21crore against Rs 18.24 crore in the previous fiscal, he said.
Record procurement
Supplyco has been able to earn profits in the last four years despite providing annual benefits of around Rs 400 crore to the customers.
He said essential commodities are sold at around 50 per cent discount over market prices and all the products are sold below the MRP.
It also contributes Rs 150 crore annually in taxes to the state exchequer.
During the current year, Supplyco has made a record procurement of paddy and distributed 2.6 lakh tonnes of Matta rice to BPL families through ration shops.
The number of customers, from around 50 lakh four years ago, has increased to more than 1.2 crore.
The Corporation's performance in the last four years can be attributed to its better inventory management, backward integration of selling price to purchase cost, quality improvement and corruption-free functioning and vast network of outlets, which runs to about 1,410.
Mobile shops
He said the Corporation is aiming at a turnover of Rs 2,600 crore in 2011-12 and also to provide benefits of Rs 450 crore to the customers.
Encouraged by good response for mobile shops, Supplyco company plans to increase the number from 17 to 25 in the current year.
The company is also entering into the distribution of LPG in the State and it had already approached oil marketing companies seeking permission to open at least 17 distribution agencies.
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