KOCHI: Public Sector Undertakings (PSUs) under the state government fared well in the 2021-22 fiscal. Of the 41 PSUs, 20 recorded profit with Kerala Minerals and Metals Limited (KMML) topping the chart.Industries Minister P Rajeeve said the total turnover of PSUs in 2021-22 was Rs 3,884.06 crore, which is Rs 562.69 crore more than the total turnover in 2020-21. The growth in turnover of PSUs was 16 per cent. The total profit of PSUs is Rs 384.60 crore, which is Rs 273.38 crore more than 2020-2021 fiscal. During 2020-21, 16 PSUs recorded positive growth.
“In the last fiscal, four more PSUs joined the list of profit-making firms. It is following liabilities that some PSUs could not record profit. However, there is an increase in the turnover of a majority of PSUs. We expect more PSUs to record positive growth and attain profit margin in this fiscal,” he said. Among the PSUs, KMML recorded the highest turnover of Rs 1,058 crore and a profit of Rs 332.20 crore.
As many as 11 companies had the best growth in the last 10 years. Travancore Cochin Chemicals, KELTRON, Travancore Titanium and KELTRON Component witnessed the highest growth in the history of these companies.
Regarding the private sector, Rajeeve said the government is promoting industries in the state. The government has set a target of one lakh MSMEs. “Since the second Pinarayi government came to power, over 12,000 MSMEs were registered in Kerala. One lakh MSMEs is not an unrealistic target. We are confident of achieving it,” he said. Rajeeve said the state government will promote private industrial parks in Kerala. Changes have been brought in the Private Industrial Estate Scheme.
Such parks can be started with a minimum of 10 acres of land. The developer permit for starting industrial parks will be issued by the Director of Industries and Commerce within 30 days of submitting the application. The government has promised to support these parks by providing road connectivity, electricity and water connections.A financial aid of Rs 30 lakh per acre and a maximum amount of Rs 3 crore will be provided by the government for establishing the parks.
“Twenty applications for starting private industrial parks have been received so far. We believe some private industrial parks will start operations in the next few months,” Rajeeve said. He also claimed the state is getting a positive response from investors. “Our team had visited Dubai Expo and some of the investors there evinced interest in starting ventures here. Similarly, we have started a programme named Meet the Investor. Several international and national-level firms are ready to invest here. We have to improve the infrastructure for attracting more investors,” he said.
KMML on top
KMML registered the highest turnover of J1,058 crore and a profit of J332.20 crore. As many as 11 companies had the best growth in 10 years.
Total turnover of PSUs in 2021-22 was J3,884.06 crore, J562.69 crore more than the total turnover in 2020-21.