Friday, June 29, 2012

BRPSE Turnaround Awards 2012 Awarded to HCL and Konkan Railways

          The Board Reconstruction of Public Sector Enterprises (BRPSE) today gave away the BRPSE Turnaround Awards 2012 to two Central Public Sector Enterprises (CPSEs) – Hindustan Copper Ltd. (HCL) and Konkan Railway Corporation Ltd. (KRCL) here today, for having posted profits continuously for three years after their revival.

Hindustan Copper Ltd:

Ø      Vertically integrated company, set up in November 1967 with 99.59% equity owned by Government of India.
Ø      A listed CPSE having market cap of around Rs. 23,000 crore.
Ø      Only Company owning substantial resources (623 million tonne with average grade of 1.04% of copper content) & reserves ((411 million tonne with average grade of 1.05% of copper content) of ore of copper in India.
Ø      Owns all the operating mining lease of copper ore.
Ø      Started incurring losses from 1995-96 onwards.
Ø      The Government approved the revival plan in June, 2007 of non-cash assistance of Rs. 612.94 cr.
Ø      Achieved turnover of Rs.1638 cr. and Profit Before Tax of Rs. 473 cr. in 2011-12 with net worth of Rs.1398 crore as on 31.3.2012.
Ø      A zero debt Company with no accumulated losses.
Ø      HCL was granted Mini-Ratna Status (category-I) in 2008.
Ø      Planned enhancing mining output from 3.4 million tonne per annum to 12.4 million tonne per annum by 2017.

Konkan Railway Corporation Ltd. (KRCL):

v     1st railway project in the country on BOT (Build, Operate & Transfer) principle with Stakeholder: M/o Railways, MaharashtraGoa, Karnataka and Kerala.
v     Started in 1990 and completed in 1998 at a cost of Rs. 3555 cr.
v     Joins Mumbai and Mangalore( Total length of 741 Km line) with reduction of 1100 Km length
v     Brought in social and economic changes in the KonkanGoa, North Karnataka regions, etc.
v     Incurred loss till 2008-09 due to high interest burden and non- materialization of freight tariff projected.Net Worth was eroded completely in the year 1999-2000.
v     KRCL had incurred losses till 2008-09 with negative net worth of Rs. 2313 crore, accumulated losses ofRs. 3116 crore and total debt of Rs. 5425 crore as on 31 March 2007.
v     The Government approved capital restructuring on 4 December 2008 of Rs.4079.51 cr.
v     Posted profits continuously for the last three years from 2009-10. Net-Worth became positive and debt-equity ratio improved.  Earned profit of Rs. 15 crore in 2011-12 and has net worth of Rs. 1572 crore as on 31 March 2012.
v     Implemented latest pay scales to its employees.
v     Developed various innovative technologies to re-define the rail-guided systems in terms of safety, efficiency and productivity.
v     Diversified into construction of tunnels and bridges.

The awards were given away by Chairman, BRPSE, DrNitish Sen Gupta.  They were collected on behalf of HCL and KRCL by Shri Shakeel Ahmed, CMD, HCL and Shri Bhanu Prakash Tayal, CMD, KRCL, respectively. 

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