Public sector success: Palakkad Instrumentation Limited marks 50 years of profitability

Palakkad: Palakkad Instrumentation Limited, a public sector powerhouse, marks its 50th year of continuous profitability and pride for the entire country. Established in 1974, the company has grown into a stronghold with 127 permanent employees and 295 contract workers. The company is spread across 122 acres at Kanjikode, located along the Palakkad-Coimbatore National Highway.

Profitable public sector enterprise

In the financial year 2023-2024, Palakkad Instrumentation Limited recorded a profit of Rs 7 crore. Notably, 60 per cent of the construction orders it receives are from private sector companies, as it competes with private firms for tenders.

The company focuses on designing and manufacturing control valves, butterfly valves, safety valves and other essential equipment used in thermal power, nuclear power plants, steel plants and pharmaceutical industries.

Contributions to Chandrayaan-3 mission

Palakkad Instrumentation Limited played a key role in the success of India's Chandrayaan-3 mission. The firm was responsible for manufacturing the control valves used during the operational tests of the launch vehicle.

Salary revision delays

One of the long-standing issues faced by employees is the delay in salary revisions. Although the salary revision due in 2007 was finally implemented in 2021, the revision for 2017 remains pending. Despite the company's profitability over the last three years, no action has been taken on this front. In 2021, it was stated that the revision would be implemented if the company maintained its profitability for three consecutive years, a condition it has now met.

Surviving government shutdowns

The central government shut down a similar facility in Kota, Rajasthan, in 2017, which had been established ten years before the Kanjikode plant. Despite this, Palakkad Instrumentation Limited continues to thrive.

Unsuccessful acquisition effort

At one point, the Central Government considered transferring the company to the state government. However, no agreement was reached regarding the cost of the land at the time of the proposed acquisition, leaving the matter unresolved.