New Delhi: In the line of Public Sector Undertakings (PSU), 11 central public sector enterprises (CPSEs) have also marked profits for three consecutive years to fiscal 2008-09. Earlier they had almost sunk into heavy financial losses.

The Board of Reconstruction of Public Sector Enterprises (BRPSE), which played a key role in rising these units has described them as "born again" CPSEs, which include Ranchi-based Heavy Engineering Corporation (HEC).

HEC which has the country's largest integrated engineering complex, had accumulated losses of Rs 2,106 crore in March 2005 and its net worth was negative to the extent of Rs 1,623 crore. Now the company's net worth has become positive (at Rs 202 crore) on March 2010, and has posted profits since 2006-07.

Other CPSEs, which displayed the dramatic turnaround are-BBJ Construction Company, Bharat Pumps and Compressors, Braithwaite and Company, Bridge and Roof Co, Cement Corporation of India, Central Electronics, Hindustan Insecticides, Mecon, Mineral Exploration Corporation and State Farms Corporation of India.

"While the causes for sickness may vary from one enterprise to another, the magic wand for recovery is conformity to the discipline of the balance sheet" BRPSE Chairman Nitish Sengupta said.

The story is similar for other 10 public sector companies, which were among 40 CPSEs referred to BRPSE for revival.

(Agencies)