The public sector Traco Cable Company Limited, established in 1965, is on a revival path with the company recording around ₹1.5-crore profit during the month of November even as the State government has raised the financial guarantee for the company from ₹51 crore to ₹100 crore on the basis of its performance.
The managing director of Traco Cable, Prasad Mathew, said the company expected a turnover of ₹190 crore during the current financial year with the performance of the company improving on all fronts. Modernisation of the facilities at Traco Cable’s Irumpanam and Thiruvalla units had helped the company improve its performance, Mr. Mathew added. All the three units of the cable company, including the one in Pinaray in Kannur district, are operating in profit now.
The modernisation of facilities has helped increase aluminium cable production to 9,000 tonnes. Besides power cables and conductors, production of covered conductors has also been launched at the Thiruvalla unit of the company. The production was launched by Industries Minister P. Rajeeve on August 31 as part of the State government’s 100-day intensive programme. The launch of the unit has had a positive impact on the performance of the company, Mr. Mathew added.
Mr. Mathew said that Traco Cable had implemented a ₹5-crore improvement of facilities at the Irumpanam and Thiruvalla units of the company over the last year. Facilities at Pinarayi in Kannur district too have been improved with fresh investments, he added.
Traco Cable’s business has been boosted by fresh orders worth ₹110 crore from the Kerala State Electricity Board for various products. The enhanced government guarantee support of ₹100 crore for the company along with fresh orders will help it easily tide over the problems posed by the pandemic situation.
Company sources also said the high quality house wiring cables from Traco company had provided it a great leverage. While the company sold around 20,000 coils of house wiring cables per month, the volume has risen to around 40,000 coil cables. Kerala’s building wiring cables market is worth around ₹400 crore and Traco is expecting to achieve a sales of around ₹75 crore.
