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Kerala Small Industries Development Corporation (Kerala Sidco), a State government public sector undertaking, has managed to post an operating profit during 2022-13 for the first time in 15 years.
It has also achieved a seven-year high in turnover at ₹226 crore during the year, according to results approved by the board and announced here.
Santhosh Koshy Thomas, Managing Director of Kerala Industrial Infrastructure Development Corporation (Kinfra) who is also in charge of Kerala Sidco, said the company aims to achieve a turnover of ₹253 crore and an operating profit of ₹4 crore in 2023-24.
Auditing of accounts
During the past 20 months, Kerala Sidco has managed to complete an audit of accounts for the last four financial years. It also closed the accounts for the subsequent year and got the board’s approval.
Gratuity arrears amounting to ₹5.3 crore have been settled, while PF amounts are being paid without interruption since May 2022. The company has also initiated measures to clear all dues of retired employees during the financial year 2023-24 on a priority basis, Thomas said.
Industrial raw material supply
The company was established in November 1975 and with offices in all 14 districts. It supplies various industrial raw materials to local self-government bodies.
These include iron and steel products, cement, bitumen, roofing sheets, paints, lubricants, other raw materials, and construction materials. It has also been working closely with Central public sector undertakings in the State, Thomas added.
Marketing support to MSMEs
The marketing department has been supporting Micro Small and Medium Enterprises (MSMEs). As many as 17 sub-offices are currently functioning under the marketing division across the State.
The company has been empaneled by at least 250 MSMEs for indirect marketing assistance, while about 400 are registered for direct marketing assistance.
The company has carried out wood and steel-based precision and fabrication work through its nine manufacturing units across the State, Thomas said.
Major customers of this service include VSSC, ISRO, and Brahmos as well as government departments, PSUs, and government/semi-government agencies. This apart, the construction division has established a strong network of engineering professionals across the State.
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