Udhagamandalam: The Hindustan Photo Films (HPF) manufacturing company has received Rs. 30 crores from the Centre towards working capital.
The Chairman cum Managing Director, HPF, P. Jagadeeswaran, told reporters here on Thursday that the grant was based on the recommendations of the Board for Restructuring Public Sector Enterprises (BRPSE) to take care of pending orders and sustain operations of the company till a decision on full revival is taken.
Describing it as the first victory in our struggle for revival, he said that the company has suggested ways to revive the company and also submitted a business plan for the next five years.
Expressing the confidence that the BRPSE will favour full revival, he acknowledged the contribution of all concerned particularly the Tamil Nadu Chief Minister M. Karunanidhi in getting the working capital.
With the help of the working capital the company is aiming to achieve a turnover of Rs. 73.50 crores, Mr. Jagadeeswaran said adding it had orders to the tune of Rs. 50 crores for supply of X-ray films.
The company continues to be a market leader in the health imaging segment.
To a query, he said that the company is confident of achieving its production and sales targets of Rs. 26 crores for the current fiscal.
Export enquiries from China and Sri Lanka are encouraging.
Pointing out that the company is now in its 50th year, he said that the Golden Jubilee will be celebrated in a fitting manner.
There are now 756 workers in the company. Even if it comes down to 500, the company can be run efficiently.
Demands relating to wage revision can be addressed only after a final decision on the revival of the company is taken. Working capital can be used only for production related activities.