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
Also Read
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.
Published: 02 Oct 2024, 09:42 am IST
Related Topics
Disclaimer: Kindly avoid objectionable, derogatory, unlawful and lewd comments, while responding to reports. Such comments are punishable under cyber laws. Please keep away from personal attacks. The opinions expressed here are the personal opinions of readers and not that of Mathrubhumi.