KSIDC pays Rs 1.75 cr dividend to Kerala Govt for FY15

Kerala State Industrial Development Corporation (KSIDC) today handed over a cheque for Rs 1.75 crore to the state government as its profit share for the financial year 2014-15.
The cheque was handed over to State Industries Minister E P Jayarajan by KSIDC Managing Director M Beena.
KSIDC has been one of the top ranking PSUs making profits consistently for the last 22 years.
In the 2014-15 fiscal, KSIDC made a profit of Rs 33.66 crore and had sanctioned projects involving a capital investment of Rs 108.77 cr as direct term loan assistance.
These projects are expected to generate employment for 1,822 persons directly or indirectly, a press release said.

The Corporation also registered Rs 43.19 crore disbursement and recovery of Rs 92.90 crore for the 2014-15 period. The income for the year stood at Rs 50.24 crore.

The average amount outstanding against loans financed by KSIDC as on Mar 31, 2015 was Rs 372.76 crore against which the interest received totals to Rs 35.55 crore, yielding a average return of 9.54 per cent.
KSIDC, besides being the single point contact for all investments into the state, has a range of diverse activities including project appraisals, innovative funding, enabling speedy clearances, entrepreneur support schemes for women and young entrepreneurs, entrepreneur mentoring, creating infrastructural facilities and promoting the state within and outside India.

2015-16 saw KSIDC as the highest profit making PSU under the Industries Department, making a record profit of Rs 49.98 crore.