15 PSUs register profit of Rs 3,149 crore in 2019-20

Amidst the COVID-19 pandemic, 15 Public Sector Undertakings (PSUs) under the Kerala Industries Department had registered a profit with a consolidated turnover of Rs 3,149 crore during the 2019-20 financial year.

As per a statement from the Industries Department, the Kalavoor based Kerala State Drugs and Pharmaceuticals Limited (KSDP) is at the forefront, which opted for business diversification and focused on the manufacture of stisers during the first phase of Covid outbreak in the State.

KSDP achieved a record profit of Rs 7.13 crore in 2019-20 with a turnover of Rs 100 crore.

"KSDP played a crucial role in keeping the price of stisers low through their market intervention. KSDP also distributed stisers during local elections and when schools reopened. Construction of Swab Collection Exam Booth, Swab Collection Booth, Easy Isolate System and Face Mask Disposal Bin was also started for Covid diagnosis," said an official of the Industries department.

The company, which used to manufacture only Paracetamol, now manufactures antibiotics, injectable drugs and post-transplant drugs.

While the Travancore Titum Products Limited TTP) that registered a profit was involved in Covid preventive measures with the production of low-cost hand stisers. Hand stiser, liquid soap and toilet cleaner are marketed under the name 'Ti-Secure' using an indigenously developed technology. The hand stiser plant has been set up at TTP with a production capacity of up to 5,000 litres per day.

Another profit-making PSU, Chavara based Kerala Minerals and Metals Limited (KMML) has envisioned a long-term plan to make further gains through modernization. The company has implemented an innovative system called 'Froth Floatation', which separates minerals from black sand. With the commissioning of the new oxygen plant at KMML with a production capacity of 70 tonnes, the huge cost of procuring oxygen from outside has been avoided. The medical oxygen supply was also possible and this brought great relief to the health sector during the Covid season.

The Kerala State Electronics Development Corporation (KELTRON) is also on track to progress by participating in the Smart City projects at Kochi, Nagpur and Chennai. The company is manufacturing navigation equipment for the Department of Fisheries, Echo Sounder for the Navy, and cheap Hearing Aids. The internal security project is being implemented in collaboration with the police and the Department of Motor Vehicles.

Malabar Cements made a profit despite the Covid crisis. The company registered a net profit of Rs 1.2 crores with an operating profit of Rs 6 crores in the current financial year.

Another PSU working in the textile sector that operates two mills and four co-operative spinning mills under Kerala State Textile Corporation (KSTC) made an operating profit. Yarn is also exported from Malabar Spinning & Weaving Mills, Malcotex, Kannur Co-operative Spinning Mill and Trivandrum Spinning Mill. KSTC Mills also participated in the manufacture of safety masks during COVID-19 times.

Travancore Cochin Chemicals (TCC) which was in crisis due to a lack of assets, made a profit of Rs 55.87 crores in 2019-20. TCC started a caustic soda plant, caustic concentration unit, and hydrochloric acid synthesis units. The exports of caustic soda also commenced.

Launched by the PSU the Kerala Automobile Limited, Kerala Neem G Electric Auto is gaining popularity in the market. Following the export of 33 e-autos to Nepal, steps are being taken to open showrooms in all districts.

According to the Industries department, a massive project to produce lithium titanate batteries for electric vehicles is in the pipeline. KAL is also planning to manufacture the motors used in electric vehicles apart from building e-scooters, e-goods auto, and five-seater e-rickshaws.

( With inputs from ANI )