CPSE's ON CASH PILE

The reserves and surplus of all Central Public Sector Enterprises (CPSE) jumped 9.6 per cent to Rs 6.13 lakh crore in 2011-12, according to a government survey. In 2010-11, the reserves and surplus of state-owned units stood at Rs 5.60 lakh crore, it said. The Survey said profit of CPSEs grew about 10 per cent to Rs 1.25 lakh crore during 2011-12, compared to Rs 1.13 lakh crore in the previous fiscal. ONGC topped the charts, followed by NTPC, CIL, NMDC, BHEL and Southern Eastern Coalfields Ltd. ONGC has retained the top position in the coveted list of 10 most profit-making PSUs, while BSNL was the biggest loss-making state-run company in 2011-12. BSNL suffered losses of Rs 8,850 crore replacing Air India as the biggest loss-making PSU. Besides BSNL and Air India, MTNL, Hindustan Photo Films Manufacturing, Hindustan Cables, Air India Charters Ltd and Fertilizer Corporation of India, are the biggest loss-making companies. There were 260 CPSEs of which 225 were in operation and the rest were under-construction in 2011-12. The survey said the total turnover of all public sector units went up by about 23 per cent to Rs 18.41 lakh crore, while their networth grew 8.4 per cent to Rs 7.7 lakh crore, during 2011-12. Total investment (equity plus long term loans) in all CPSEs was up about 21 per cent at Rs 7.29 lakh crore as of March last year. The survey said the contribution of CPSEs to the government by way of duties, taxes, interest payments and dividends increased 2.5 per cent to over Rs 1.6 lakh crore in the last fiscal. ONGC Top Investor Oil and Natural Gas Corp (ONGC) has emerged as the top investor among PSUs for 2011-12 with an investment of Rs 2.1 lakh crore, according to a government survey. Loss-making BSNL is the second largest investor, it said. Investment in terms of gross block (assets) for ONGC stood at Rs 2.1 lakh crore in 2011-12 and its net profit was Rs 25,122 crore, the Public Enterprises Survey for 2011-12 said. In 2010-11, the Maharatna company had Rs 1.95 lakh crore as investment in gross block. Gross block (GB) is the value of a company's fixed assets plus depreciation. Telecom player BSNL's investment on the same lines was Rs 1.74 lakh crore, despite a huge loss of Rs 8,850 crore in the last fiscal, the survey said. NTPC was at the third position. Its investments, expressed in GB, stood at Rs 1.23 lakh crore and net profit at Rs 9,223 crore in 2011-12. The survey revealed the share of ONGC, BSNL and NTPC was 54.7 per cent in the total GB of all CPSEs, as on March 31, 2012. Indian Oil Corporation Ltd and Power Grid Corporation ranked fourth and fifth, in this respect. SAIL and NHPC were at sixth and seventh ranks, respectively. Nuclear Power Corporation of India Ltd, Hindustan Petroleum Corporation and Gail (India) Ltd were at eighth, ninth and tenth positions, respectively, the survey said. The total strength of employees in CPSEs has gone down by 41,682 persons due to superannuation, voluntary retirement etc. The salary and wages in all the CPSEs, at the same time grew 7 per cent to Rs 1.05 lakh crore during 2011-12 compared to Rs 98,402 crore in 2010-11, it said.