Kerala’s Public Sector Shines as 27 Units Record Profits and Turnover Rises to 2,440 Crore

Thiruvananthapuram: Kerala’s public sector undertakings (PSUs) have registered an impressive turnaround, with 27 enterprises now in profit and overall sales touching 2,440.14 crore, reflecting the steady recovery and disciplined management seen across the state-run industrial sector.

The figures, presented at the half-yearly review meeting of PSUs chaired by Industries Minister P Rajeev, point to a broad-based improvement across key industries. The report shows that 27 PSUs turned profitable in October, compared to 25 during April–September, marking a significant leap from the same period last year when only 11 units were in the black.

Fourteen additional PSUs have moved into profit this year, while seven others improved their earnings. Cumulative operating profit stood at 27.30 crore, an increase of 82.09 crore over the previous year, indicating a more robust operational performance across the board. The number of enterprises achieving net profit rose to 17, up from 9 last year.

Overall turnover climbed to 2,440.14 crore, a 9.07 per cent rise from last year’s 2,299 crore, with 32 PSUs posting higher sales figures. The performance signals renewed dynamism in Kerala’s industrial ecosystem, with state enterprises now seen as capable of competing and collaborating in emerging technology and manufacturing sectors.

Among the 48 PSUs, the Kerala Minerals and Metals Ltd (KMML) led with an operating profit of 45.48 crore, including 14.61 crore in October alone. Keltron followed with 12.68 crore, bouncing back strongly from last year’s losses, while Keltron Electro Ceramics Ltd (ECL) recorded 11.84 crore in operational profit. Other profit-making entities include Keltron Components, Travancore Cochin Chemicals (TCC), Kerala Electrical & Allied Engineering Co. (KEL), Coir Corporation, KSIE, TELK, SIFL, Kerala State Mineral Development Corporation, KCCPL, Coirfed, Silk, Artisans Development Corporation, FIT, Malappuram Cooperative Spinning Mill, K Karunakaran Memorial Cooperative Spinning Mill, Foam Mattings, Alappuzha Cooperative Spinning Mill, SIDCO, Priyadarshini Cooperative Spinning Mill, Trivandrum Spinning Mill and Coir Machinery Manufacturing Company.

Kerala’s PSUs are not merely sustaining operations but setting benchmarks for efficiency and innovation. Keltron, for instance, has become a key player in defence electronics, aerospace, and artificial intelligence-based technologies, contributing significantly to the INS Tamal warship project. The company’s annual sales crossed the 1,000-crore mark, an achievement underscoring its national relevance.

Meanwhile, Kerala Automobiles Ltd entered the electric scooter market through a joint venture, signalling the state’s growing focus on green mobility. The Kerala State Drugs and Pharmaceuticals Ltd (KSDP) opened new outlets to ensure the availability of quality medicines. The Kerala Electrical and Allied Engineering Company expanded its business with orders from the Karnataka government, while KCCPL moved into product diversification. Coir Corporation boosted revenue by opening premium sales outlets, including one at Lulu Mall, achieving sales worth 60 lakh.

Financial discipline has also been reinforced, with 42.5 crore allocated in the state budget to help PSUs clear statutory liabilities of workers. Safety and governance reforms are advancing as well, with 32 PSUs completing safety audits.

Officials including Principal Secretary (Industries) APM Mohammed Hanish, Officer on Special Duty Annie Joola Thomas, and the managing directors of various PSUs attended the review meeting.