STEEL MINISTER REVIEWS Q 2 PERFORMANCE
OF HSCL
Hindustan Steel
Works Construction Ltd. (HSCL), a public sector unit of the Steel
Ministry has improved its performance parameters during the second
quarter of this fiscal. Its turnover has gone up from 66 crore
in Q I to Rs. 72 crore in Q-2, order booking from Rs. 108 crore
to 276 crore and the gross margin from 0.65 crore to Rs. 1.12
crore. This information was given by the CMD of the company Dr.
B.K.Jha in the quarterly review meeting taken by the Union Minister
for Steel, Shri B.K.Tripathy here today. The company has recorded
the highest turnover against a single project in a month during
August 03 i.e. Rs. 10 crore from construction of flyovers. It
has received the highest 47.99 crore single order from NTPC during
the quarter.
The CMD briefed
that the company's non-steel sector turnover during the 2nd
quarter has gone up by 25 crore against the same period last year.
The order booking from non-steel sector during the quarter increased
by Rs. 190 crore. Bokaro Unit of the company has diversified and
secured Rs. 8.3 crore orders from non-steel sector.
However, the
Minister expressed concern over the dismal financial condition
of the company and advised to get more work from the steel sector
to achieve a large operational margin and increase productivity.
He asked to devise suitable strategies to meet the challenges
posed by the increased competition in steel sector. He stressed
on further reduction of manpower through VRS to reduce the cost.
Shri Tripathy
asked the company to realise outstanding dues which stands at
Rs. 280 crore at present. He asked HSCL to try to achieve the
MOU targets for the year and to make serious efforts to raise
own resources to liquidate the arrears and wages payable to the
employees.
