Financial Status of Himachal Pradesh State Industrial Development Corporation

Financial Results(In Lacs)

Pursuant to its main objectives and activities, the achievements of the Himachal Pradesh State Industrial Development Corporation during the last six financial years (i.e. upto 2013-14) are as below:

Sr.No. Particulars 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14
1 Sanction of term loan 1024 538 260 95 0 180
2 Disbursement of term loan 246 502 252 149.98 101.93 12.28
3 Recovery of Principal/Interest 527/405 482/337 523/329 547.12/466.40 387/291 264.50/182.50
4 Total recovery of Pr. & Intt. 932 819 852 1013.52 678 447
5 Borrowings from IDBI/SIDBI/HPIDB 0 0 0 0 0 0
6 Repayment-refinance IDBI/SIDBI/HPIDB 1000 HIDB 0 0 0 0 0
7 Payment of interest IDBI/SIDBI/HPIDB 88 0 0 0 0 0
8 Equity buy-back receipts 8 0 0 0 0 0
9 Execution of civil works 1207 1314 1376 2251.10 1831 1527
10 Investment in Ind. Areas 866 91 40 7 0 34.12
11 Receipt from SFS/Ind areas Baddi & Davni 1572 540 659 762.72 553 282
12 Staff position (Incl. daily wagers) 187 186 178 168 156 150

Financial Position(In Lacs)

Sr.No. Parameters 31-3-2008 31-3-2009 31-3-2010 31-3-2011 31-3-2012 31-3-2013 31-3-2014
1 Paid up share capital 2959 2959 3082.42 3082.42 3082.42 3082.42 3082.42
2 Reserve & surplus 1420 2150 2281.89 1962.68 1689.02 3021.50 2700.00
3 Loan outstanding IDBI/SIDBI/HPIDB 1000HPIDB 0 0 0 0 0 0
4 Net Fixed Assets 183 255 295.98 281.10 269.00 260.00 270.00
5 Investments 37 16 16.60 16.60 16.90 16.90 16.90
6 Loans & Advances 3216 3127 4121.39 2959.91 1889.50 1333.00 500.00
7 Cash & Bank Balances 1362 1876 4356.62 5624.89 5001.00 5542.00 8000.00
8 Total income during the year 1532 1872 2626.40 2643.03 3645.00 2472.00 1329.00
9 Salaries & Admin./establishment exp. & material cost during the year 393 541 2307.74 2044.31 2303.00 1774.00 1000.00
10 Profit/Loss for the year after providing for bad debts/tax/ reserve (+)681 (+)685 (+)64.46 (-)241.96 (+)703.32* (+)388.59 (-)329.00

Contribution to Cheif Minister’s Releif Fund(In Lacs)

Sr.No. Year Contribution Amount Remarks
1 2006-07 51.00  
2 2007-08 51.00  
3 2008-09 100.00  
4 2009-10 100.00  
5 2013-14 21.00  

Profit Position(In Crores)

Sr.No. Parameter 2012-13 2013-14
1 Profit 3.88 (-)3.29
2 Accumulated Loss 0.00 0.00
3 Reserves & Surplus 30.20 27.00
4 Net Worth 61.00 57.82

Deductions from the Financial Results

  •  Recovery from the loan portfolio (being the major generator of revenue) has been steady and witnessed improvements.
  •  Revenue from the developed Industrial Estates i.e. Industrial area Baddi & Davni(near Baddi) has improved significantly.
  •  Quantum of civil works executed has shown substantial improvement. Sanctions & disbursements have remained steady in consonance with resources.
  •  No external borrowings from the year 2003-04. However in 2007-08 a short term loan of Rs. 20.00 Crores was raised from the HPIDB for development of new Industrial Estate at Davni (near Baddi) which stands repaid as on 31.03.09.
  •  All external debts (of IDBI/SIDBI/HPIDB) stand repaid – HPSIDC is now a debt free PSU.
  •  Reasonable cash generation- no cash loss. [Loss during 2010-11 on account of un-expected additional land compensation award of Rs. 452.00 lacs by LAC Solan on account land acquisition at IA Baddi].
  •  Carried forward losses completely wiped out by 2008.
  •  Operations being sustained without additional equity support from State Govt.