Ministry of Textiles19-February, 2014 13:34 IST
Financial Losses of NTC

                     

                                           

The financial data containing details of losses of National Textile  Corporation (NTC) in the current fiscal year i.e. 2013-14 (April-December 2013) is at Annexure-I.

 

As per revival scheme approved by Board for Industrial & Financial Reconstruction (BIFR) for NTC Ltd., 78 mills identified as unviable have been closed at different locations in the country. About 46200 employees affected by closure of these unviable mills have been relieved by offering them comprehensive package as per Modified Voluntary Retirement Scheme (MVRS) of the corporation (Annexure-II).

 

The details of realisation from Sale of Land of  last five years are as under:-                           

                                       (Rs. in Crores)

YEAR

AMOUNT

2008-2009

41.59

2009-2010

110.48

2010-2011

2124.93

2011-2012

1.35

2012-2013

18.25

 

Future outlook of NTC:-

 

Ø To equip, consolidate and continuously update each mill with latest Technology with state of Art Machinery to produce value added products along with appropriate market strategy  so that each mill can become profitable, sustainable and viable unit.

 

Ø Through diversified product mix, reach to the masses, using household sales technique.

 

Ø To monetize idle Assets of the company for growth, expansion and safety through Manufacturing, Marketing, Technical Textile, Joint Ventures.

 

ANNEXURE I

 

 

 

 

 

 

 

 

 

 

 

 

NATIONAL TEXTILE CORPORATION LIMITED

 

STATEMENT OF PROVISIONAL PROFIT AND LOSS FOR THE YEAR 2013-14

(Upto Dec, 2013)

 

 Amount (Rs. in Lakhs)

 

PARTICULARS

 Apr-Dec, 2013

 

 

 

 

Revenue from operations

 

 

Yarn

                              64,844.84

 

Cloth

                              14,972.27

 

Waste

                                2,165.44

 

Other Income

                              10,000.96

 

 

 

 

Total Revenue

                              91,983.51

 

EXPENSES

 

 

Cost of Materials Consumed

                              49,843.70

 

Purchase of Stock in Trade

                                7,502.34

 

Inter Sub-Office Purchase/Expenses

                                            -  

 

Change in Inventories

                              (9,463.52)

 

Employee Benefit Expenses

                              20,724.12

 

Finance Costs

                                4,077.54

 

Depreciation and Amortization Expense

                                7,369.99

 

Manufacturing Expenses

                              18,018.66

 

Administrative Expenses

                                2,769.68

 

Selling Expenses

                                2,416.80

 

TOTAL EXPENSES

                            103,259.31

 

Profit/ (Loss) before exceptional, extraordinary items and tax

                            (11,275.80)

 

Prior Period Income/(Expenses).

                                            -  

 

VRS Expenses

                                  (933.90)

 

Waiver of Interest

 

 

Sale of Assets

 

 

Reserves Written Back

                                            -  

 

Profit/ (Loss) before Tax

                            (12,209.70)

 

 Tax Expenses

                                            -  

 

Profit/ (Loss) for the year

                            (12,209.70)

 

 

ANNEXURE II

 

List of 78 closed mills under ID Act & VRS AMOUNT PAID TO THEM

AS ON 01.02.2014

 

 

 

 

 

 

 

PLACE

MVRS

 

 

 

NOS.

AMOUNT

 

 

 

 

(LAC Rs.)

 

ANDHRA PRADESH

 

 

 

1

ADONI COTTON MILLS

Adoni

104

348.57

2

NATRAJ SPINNING MILLS

Adilabad

59

223.27

3

NETHA SPINNING & WEAVING MILLS

Secunderabad

126

273.13

4

ANANTHAPUR COTTON MILLS

Ananthapur

294

827.76

5

AZAM JAHI MILLS

Warangal

455

1586.51

 

SUB TOTAL

 

1038

3259.24

 

ASSAM

 

 

 

6

ASSOCIATED INDUSTRIES

Chandrapur

177

761.73

 

SUB TOTAL

 

177

761.73

 

BIHAR

 

 

 

7

GAYA COTTON & JUTE MILLS

Gaya

165

538.58

8

BIHAR COOPERATIVE MILLS

Mokameh

409

1603.46

 

SUB TOTAL

 

574

2142.04

 

CHATTISGARH

 

 

 

9

BENGAL NAGPUR COTTON MILLS

Rajnandgaon

1224

3169.00

 

SUB TOTAL

 

1224

3169.00

 

GUJARAT

 

 

 

10

PETLAD TEXTILE MILLS

Petled

376

1125.00

11

RAJKOT TEXTILE MILLS

Rajkot

307

949.00

12

VIRAMGAM TEXTILE MILLS

Viramgam

732

2243.00

13

NEW MANEKCHOWK TEXTILE MILLS

Ahmedabad

778

2743.00

14

MAHALAXMI TEXTILE MILLS

Bhavnagar

725

2348.00

15

RAJNAGAR TEXTILE MILLS  2 (Green field mill being relocated)

Ahmedabad

1484

6054.00

16

AHMEDABAD JUPITER MILLS

Ahmedabad

794

2797.00

17

HIMADARI TEXTILE MILLS

Ahmedabad

515

1943.00

18

JEHANGIR TEXTILE MILLS

Ahmedabad

1115

4107.00

19

AHMEDABAD NEW TEXTILE MILLS

Ahmedabad

1231

4681.00

 

SUB TOTAL

 

8057

28990.00

 

 

KARNATAKA

 

 

 

20 & 21

MYSORE SPG. & MFG. MILLS & MINERVA MILLS

Bangalore

1941

7690.56

22

M.S.K. MILLS

Gulbarga

752

2179.46

23

SREE YALLAMMA COTTON MILLS.

Davangere

313

963.63

 

SUB TOTAL

 

3006

10833.65

 

 MADHYA PRADESH

 

 

 

24

KALYANMAL MILLS

Indore

1446

3713.00

25

SWADESHI TEXTILE MILLS

Indore

618

1706.00

26

HIRA MILLS

Ujjain

879

2301.00

27

INDORE MALWA UNITED MILLS

Indore

1860

4500.00

 

SUB TOTAL

 

4803

12220.00

 

MAHARASHTRA

 

 

 

28

KOHINOOR MILLS NO. 2

Mumbai

83

395.00

29

KOHINOOR MILLS NO. 3

Mumbai

16

67.00

30

INDIA UNITED MILLS NO.2

Mumbai

813

3966.00

31

INDIA UNITED MILLS NO.3

Mumbai

490

2384.00

32

INDIA UNITED MILLS NO.4

Mumbai

592

3041.00

33

JAM MFG. MILLS

Mumbai

702

3656.00

34

SHRI SITARAM MILLS

Mumbai

292

1309.00

35

MODEL MILLS

Nagpur

1306

4742.00

36

R.S.R.G. MILLS

Akola

621

1739.00

37

VIDHARBHA MILLS

Achalpur

528

1563.00

38

KOHINOOR MILLS NO. 1

Mumbai

510

2279.00

39

INDIA UNITED MILLS NO.6

Mumbai

321

1511.00

40

BHARAT TEXTILE MILLS

Mumbai

809

3329.00

41

DIGV IJAY TEXTILE MILLS

Mumbai

869

4192.00

42

ELPHINSTONE SPG & WVG MILLS

Mumbai

702

3349.00

43

JUPITER TEXTILE MILLS

Mumbai

739

3663.00

44

MUMBAI TEXTILE MILLS

Mumbai

805

3736.00

45

NEW HIND TEXTILE MILLS

Mumbai

889

4073.00

46

PODAR PROCESSORS

Mumbai

431

1909.00

47

SHREE MADHUSUDAN MILLS

Mumbai

512

2163.00

48

FINLAY MILLS

Mumbai

1077

4099.00

 

SUB TOTAL

 

13107

57165.00

 

PUNJAB

 

 

 

49

DAYALBAGH MILLS

Amritsar

505

1112.00

50

PANIPAT WOOLLEN MILLS

Kharar

631

1486.00

51

KHARAR TEXTILE MILLS

Kharar

648

1673.00

52

SURAJ TEXTILE MILLS

Malout

557

1309.00

 

SUB TOTAL

 

2341

5580.00

 

RAJASTHAN

 

 

 

53

EDWARD MILLS

Beawar

280

689.00

54

SHREE BIJAY COTTON MILLS

Sri Bijaynagar

552

1080.00

 

SUB TOTAL

 

832

1769.00

 

TAMIL NADU

 

 

 

55

KISHNAVENI TEXTILE MILLS

Coimbatore

223

599.22

56

OM PARASAKTHI MILLS

Coimbatore

284

738.69

57

KALEESWARAR MILLS 'A' UNIT

Coimbatore

216

575.35

58

SOMASUNDARAM MILLS

Coimbatore

642

1597.46

59

BALARAMVARMA MILLS

Shencottah

292

640.17

 

SUB TOTAL

 

1657

4150.89

 

 UTTAR PRADESH

 

 

 

60

ATHERTON MILLS

Kanpur

983

2714.00

61

BIJLI COTTON MILLS

Hathras

116

345.00

62

LAXMIRATTAN COTTON MILLS

Kanpur

1148

3235.00

63

LORD KRISHNA TEX.MILLS

Saharanpur

514

1383.00

64

MUIR MILLS

Kanpur

1249

3625.00

65

NEW VICTORIA MILLS

Kanpur

1277

3614.00

66

RAE BARELI TEX. MILLS

Raebareli

164

441.00

67

SHRI VIKRAM COTTON MILLS

Lucknow

479

1316.00

68

SWADESHI COTTON MILLS, KANPUR

Kanpur

1120

3478.00

69

SWADESHI COTTON MILLS, NAINI

Naini

983

2315.00

 

SUB TOTAL

 

8033

22466.00

 

WEST BENGAL

 

 

 

70

BANGASRI COTTON MILLS

Sonepore

75

279.08

71

BENGAL FINE S.& W.MILLS NO.II

Kataganj

52

191.16

72

MANINDRA B.T.MILLS

Cossim Bazar

109

442.25

73

JYOTI WVG. FACTORY

Patipukur

101

397.41

74

CENTRAL COTTON MILLS

Belur

288

1069.94

75

SHREE MAHALAXMI COTTON MILLS

Palta

152

619.44

76

BENGAL LUXMI COTTON MILLS

Serampore

192

652.60

77

RAMPOORIA COTTON MILLS

Rishra

207

722.39

78

BENGAL FINE S.& W.MILLS NO.I

Konnagar

175

602.21

 

SUB TOTAL

 

1351

4976.48

 

GRAND TOATL

 

46200

157483.03

 

 

 

The information was given by the Minister of State in the Ministry of Textile Smt. Panabaaka  Lakshmi in the Rajya Sabha today. 

 

DS/SJM

 

                                                                                                    

 

 

 

 

 

 

                                                                    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

   

 

 

 


(Release ID :103891)