JK cements a sinking boat, Looses 181.51 lakhs in just one year

KL Report

SRINAGAR

State’s largest employer JK cements has shown a dwindling trend in terms of earning for the state during 2012-13. The figures have become a cause of concern for the state authorities, wondering over the possible reason behind the corporations’ loss. According to the figures available with KNS, JK Cements earned a profit of 435.51 lakhs during the year 2011-12 as against 253 lakhs in 2012-13, showing the loss of 181.51 lakhs in just one year.

The details maintained further that the sales of the JK cements have also gone down during the last year.  During 2012, JKCL produced 177550 metric tons of the cement and made the sale of 12,049 lakh rupees. In 2013- the production instead of getting increased, suddenly went down from 177550 to 167906 metric tons- showing the decline of 9644 metric tons in a year.   Also JKCL in the year 2012-13  made the sale of just 11600 lakhs- It shows that the sales witnessed the down steep of 449 lakhs in a year.

JKCL was incorporated as a fully owned government company in December 1974 with the objective to exploit the abundant deposits, make the quality cement available to the consumers at reasonable rates, besides filling up of the gap between demand and supply.

Interestingly, JKCL has expanded its capacity by installing additional unit of 600 tons per day plant. The project had the approval of the state cabinet at a cost of rupees 87.52 crores comprising of 26.27 rupees as the ‘contribution’ from the government towards company’s share capital and 61.25 crores as term loan from JK Bank.(KNS)

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