TELK registers turnaround, declares dividend

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Tvm: The Angamaly based State Owned Enterprise, Transformers and Electricals Kerala Ltd. (TELK) has turned around from being a ‘sick’ company to register a turnover of Rs.200 crore and declared dividend for 2009-10 and 2010-11 after 30 years. The company has benefited from its three-year-old association with the National Thermal Power Corporation (NTPC).

Arun Kumar Gupta, MD, TELK along with T Balakrishnan IAS, Additional Chief Secretary, Department of Industries, who is the Chairman of the Company, handed over a DD for Rs.1.87 crore as dividend payable to the State Government to the State Industries Minister Shri P K Kunhalikutty in Thiruvananthapuram on August 22, 2011. The company representatives also handed over a DD for Rs.1.53 crore to the NTPC recently as dividend payable to that company. TELK is now a joint venture between Government of Kerala and power major NTPC.

According to Gupta, the joint venture has brought in fresh orders from private power producers, besides increasing the market acceptability of the company. TELK was referred to the Board of Finance Restructuring (BIFR) in 1995. After 30 years, TELK is now a dividend paying company with zero debt and a net worth of more than Rs.107 crores. The overall performance of the company has improved over the last three years with the turnover exceeding Rs.200 crores working at a base capacity level of 5,000 MVA (megavolt-ampere) which is the highest production and sales in MVA terms since its incorporation.

Kerala Biz News

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