COMMENTARY
INTERVIEWS
SPECIALS
CHAT
ARCHIVES

SCI, DCI, CSL rated 'excellent' PSUs

The Department of Public Enterprises has rated the performances 'as excellent' of three public sector undertakings under the ministry of surface transport. They are: Shipping Corporation of India, Dredging Corporation of India and Cochin Shipyard Limited.

SCI achieved excellent ratings for the last seven years, the latest being the year 1997-98. The net profits of SCI were Rs 2.5 billion provisional) during 1997-98, Rs 2.24 billion during 1996-97 and Rs 3.24 billion during 1995-96, an official release said.

SCI has drawn up a tonnage acquisition plan for acquiring/ 44 vessels involving an investment of about $ 1.23 billion during the Ninth Five Year Plan period. This will further strengthen its fleet position in providing efficient and competitive shipping services for Indian trade.

SCI operates a network of global liner services to the UK, Japan, East Africa, the US, the Mediterranean countries and Black Sea ports. It is one of the few shipping companies in the world, which offers an array of services like break bulk, container and feeder services practically covering the entire globe.

SCI has recently ventured into container feeder services and provides services between Madras-Colombo, Calcutta-Haldia-Colombo and Mumbai-Colombo-Singapore. In addition to international operations, SCI operates passenger-cum-cargo services between the mainland and the Andaman and Nicobar and Lakshadweep group of islands.

Dredging Corporation of India has been rated excellent for the fourth year in succession. The portfolio of services of the corporation includes capital dredging of craft and training. The customers of DCI are the major ports, minor ports, Indian navy, shipyards, fishing harbours, marine organisations, state governments, industrialist establishments and power plants.

The turnover of the corporation during 1997-98 (unaudited) was Rs 2.40 billion and Rs 2.30 billion during 1996-97. DCI has made profits in the last three financial years which were Rs 536 million, Rs 610 million and Rs 746 million (unaudited) respectively.

Cochin Shipyard Limited has been able to systematically improve its financial performance since 1991-92 and with the help of capital restructuring it has turned the corner in 1994-95 with a net profit of Rs 111 million.

The financial performances during 1995-96, 1996-97 and 1997-98 have also been satisfactory. The shipyard made net profits of Rs 184 million, Rrs 126 million and Rs 104 million during the three financial years respectively.

CSL has been accredited with certification under ISO 9001 during 1996-97, the first Indian shipyard to secure it both for ship-bulding and ship-repair.

UNI