Dramatic turnaround by 11 PSUs

Other CPSEs,which displayed a 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.

8220;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 sheet8230;,8221; BRPSE

Chairman Nitish Sengupa said in a booklet listing the turnaround stories of 11 CPSEs.

HEC,which was incorporated in 1958 and has the country8217;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.

The company8217;s net worth has become positive at Rs 202 crore on March 2010,and has posted profits since 2006-07.

The story is similar for other 10 public sector companies,which were among 40 CPSEs referred to BRPSE for revival. While 20 of these companies have earned profits in 2008-09,the 11 of them did so for three years in a row.

Several of them have history behind them. For instance,Braithwaite Burn and Jessop Construction Company BBJ was incorporated as a private company in 1935,initially to facilitate erection of the Howrah Bridge over the River

Hooghly in Kolkata. It became a PSU in 1987.