Lok Sabha Question No. 1345 (UNSTARRED), answered on 2025-12-08
Subject: Restructuring of Central Public Sector Enterprises (CPSEs)
Ministry: FINANCE
Asked by: Shri Subbarayan K, Com. Selvaraj V

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF PUBLIC ENTERPRISES

## LOK SABHA

## UNSTARRED QUESTION No. 1345

ANSWERED ON 08.12.2025

## Restructuring of Central Public Sector Enterprises

## 1345. Com. Selvaraj V and Shri Subbarayan K:

Will the Minister of FINANCE be pleased to state:

- (a) whether  it  is  a  fact  that  the  Government  has  identified  55  central  public  sector enterprises and are under consideration for restructuring/closure/liquidation;
- (b) if so, the details thereof;
- (c) the financial position of these said enterprises during the last five years; and
- (d) whether any efforts are being made by the Government for the revival of the said undertakings, if so, the details thereof and if not, the reasons therefor?

## ANSWER THE MINISTER OF STATE FOR FINANCE (SHRI PANKAJ CHAUDHARY)

(a), (b) & (c):  As per the information available with this Department, 25 Central Public Sector Enterprises (CPSEs)/Units have been approved for closure by Cabinet/CCEA, so far (Annexure-I). Out of these 25 CPSEs, 12 CPSEs/Units have been closed (AnnexureII) , 1 CPSE namely, Rajasthan Drugs and Pharmaceutical Ltd. is being transferred to the State Govt., 1 CPSE namely, STCL was approved for winding up by Cabinet in August, 2013,  accordingly  the  company  filed  voluntary  winding  up  petition  u/s  433(a)  of Companies Act,  1956  before  the  Hon'ble  High  Court  of  Karnataka  on  26.11.2013 . Remaining 11 CPSEs/Units are under different stages of closure (Annexure-III) . The financial performance (Total Revenue, Net worth and Net Profit) of the remaining 13 CPSEs for Financial Year 2019-20 to 2023-24 are given at Annexure-IV.

- (d) The CPSEs function under the administrative control of respective Ministries/Departments. Enterprise specific measures, including restructuring/revival/liquidation, are initiated by the respective Boards of the CPSEs and their  concerned  administrative  Ministry/Departments  in  terms  of  extant  policies  and guidelines.

*****

## Annexure I referred to in part (a), (b) & (c) of reply to Lok Sabha Unstarred Question No. 1345 for answer on 08.12.2025

## List of 25 CPSEs approved for Closure by Cabinet/CCEA

| Sr. No.                                         | Name of the Ministry/Department/CPSE                                                    | Approving Authority                             |
|-------------------------------------------------|-----------------------------------------------------------------------------------------|-------------------------------------------------|
| Ministry of Petroleum &Natural Gas              | Ministry of Petroleum &Natural Gas                                                      | Ministry of Petroleum &Natural Gas              |
| 1.                                              | IOCL CREDA Biofuels Ltd.                                                                | CCEA                                            |
| 2.                                              | CREDA HPCL Biofuels Ltd                                                                 | CCEA                                            |
| Ministry of Railways                            | Ministry of Railways                                                                    | Ministry of Railways                            |
| 3.                                              | Bharat Wagon and EngineeringCompany Ltd.                                                | CCEA                                            |
| 4.                                              | Burn Standard Company Ltd.                                                              | CCEA                                            |
| Ministry of Ports, Shipping &Waterways          | Ministry of Ports, Shipping &Waterways                                                  | Ministry of Ports, Shipping &Waterways          |
| 5.                                              | Hooghly Dock and Port Engineers Ltd.                                                    | Cabinet                                         |
| 6.                                              | Central Inland Water TransportCorporation Ltd.                                          | Cabinet                                         |
| Ministry of Environment, Forest &Climate Change | Ministry of Environment, Forest &Climate Change                                         | Ministry of Environment, Forest &Climate Change |
| 7.                                              | Andaman & Nicobar Islands Forest andPlantation Development Corporation Ltd., Port Blair | CCEA                                            |
| Ministry of Heavy Industries                    | Ministry of Heavy Industries                                                            | Ministry of Heavy Industries                    |
| 8.                                              | Tractor Unit of HMT Ltd.                                                                | CCEA                                            |
| 9.                                              | Kota Unit of Instrumentation Ltd.                                                       | CCEA                                            |
| 10.                                             | HMT Chinar Watches Ltd.                                                                 | CCEA                                            |
| 11.                                             | HMT Bearings Ltd.                                                                       | CCEA                                            |
| 12.                                             | Tungabhadra Steel Products Ltd.                                                         | CCEA                                            |
| 13.                                             | Bharat Pumps and Compressors ltd.                                                       | CCEA                                            |
| 14.                                             | Hindustan Cables Ltd.                                                                   | CCEA                                            |
| 15.                                             | HMT Watches Ltd.                                                                        | CCEA                                            |
| 16.                                             | Scooters India Ltd.                                                                     | CCEA                                            |
| Department of Pharmaceuticals                   | Department of Pharmaceuticals                                                           | Department of Pharmaceuticals                   |
| 17.                                             | Indian Drugs and Pharmaceuticals Ltd.                                                   | Cabinet                                         |
| 18.                                             | Rajasthan Drugs and PharmaceuticalsLtd                                                  | Cabinet                                         |
| Department of Defence Production                | Department of Defence Production                                                        | Department of Defence Production                |
| 19.                                             | Vigyan Industries Ltd.                                                                  | Cabinet                                         |
| Department of Chemicals &Petrochemicals         | Department of Chemicals &Petrochemicals                                                 | Department of Chemicals &Petrochemicals         |
| 20.                                             | Rasayani unit of Hindustan Organic Chemicals Ltd.                                       | CCEA                                            |
| 21.                                             | Hindustan Fluorocarbons Ltd.                                                            | CCEA                                            |
| Ministry of Textiles                            | Ministry of Textiles                                                                    | Ministry of Textiles                            |
| 22.                                             | National Jute Manufactures Corp. Ltd.                                                   | Cabinet                                         |
| 23.                                             | Birds Jute and Exports Ltd.                                                             | Cabinet                                         |
| 24.                                             | Handicrafts and Handlooms Export Corp. of India Ltd.                                    | Cabinet                                         |
| Department of Commerce                          | Department of Commerce                                                                  | Department of Commerce                          |
| 25.                                             | STCL Ltd                                                                                | Cabinet                                         |

## Annexure II referred to in part (a), (b) & (c) of reply to Lok Sabha Unstarred Question No. 1345 for answer on 08.12.2025

## List of 12 CPSEs already closed

| Sr. No.                                         | Name of the Ministry/Department/CPSE                                                   |
|-------------------------------------------------|----------------------------------------------------------------------------------------|
| Ministry of Petroleum &Natural Gas              | Ministry of Petroleum &Natural Gas                                                     |
| 1.                                              | IOCL CREDA Biofuels Ltd.                                                               |
| 2.                                              | CREDA HPCL Biofuels Ltd                                                                |
| Ministry of Railways                            | Ministry of Railways                                                                   |
| 3.                                              | Bharat Wagon and EngineeringCompany Ltd.                                               |
| 4.                                              | Burn Standard Company Ltd.                                                             |
| Ministry of Ports, Shipping &Waterways          | Ministry of Ports, Shipping &Waterways                                                 |
| 5.                                              | Hooghly Dock and Port Engineers Ltd.                                                   |
| 6.                                              | Central Inland Water TransportCorporation Ltd.                                         |
| Ministry of Environment, Forest &Climate Change | Ministry of Environment, Forest &Climate Change                                        |
| 7.                                              | Andaman &Nicobar Islands Forest andPlantation Development Corporation Ltd., Port Blair |
| Ministry of Heavy Industries                    | Ministry of Heavy Industries                                                           |
| 8.                                              | Tractor Unit of HMT Ltd.                                                               |
| 9.                                              | Kota Unit of Instrumentation Ltd.                                                      |
| 10.                                             | HMT Chinar Watches Ltd.                                                                |
| 11.                                             | HMT Bearings Ltd.                                                                      |
| 12.                                             | Tungabhadra Steel Products Ltd.                                                        |

## Annexure III referred to in part (a), (b) & (c) of reply to Lok Sabha Unstarred Question No. 1345 for answer on 08.12.2025

## List of 11 CPSEs under closure

| Sr. No.                                 | Name of the Ministry/Department/CPSE                 | Approving Authority                     |
|-----------------------------------------|------------------------------------------------------|-----------------------------------------|
| Ministry of Heavy Industries            | Ministry of Heavy Industries                         | Ministry of Heavy Industries            |
| 1.                                      | Bharat Pumps and Compressors ltd.                    | CCEA                                    |
| 2.                                      | Hindustan Cables Ltd.                                | CCEA                                    |
| 3.                                      | HMT Watches Ltd.                                     | CCEA                                    |
| 4.                                      | Scooters India Ltd. (SIL) (Listed)                   | CCEA                                    |
| Department of Pharmaceuticals           | Department of Pharmaceuticals                        | Department of Pharmaceuticals           |
| 5.                                      | Indian Drugs and Pharmaceuticals Ltd.                | Cabinet                                 |
| Department of Defence Production        | Department of Defence Production                     | Department of Defence Production        |
| 6.                                      | Vigyan Industries Ltd.                               | Cabinet                                 |
| Department of Chemicals &Petrochemicals | Department of Chemicals &Petrochemicals              | Department of Chemicals &Petrochemicals |
| 7.                                      | Rasayani unit of Hindustan Organic Chemicals Ltd.    | CCEA                                    |
| 8.                                      | Hindustan Fluorocarbons Ltd.                         | CCEA                                    |
| Ministry of Textiles                    | Ministry of Textiles                                 | Ministry of Textiles                    |
| 9.                                      | National Jute Manufactures Corp. Ltd.                | Cabinet                                 |
| 10.                                     | Birds Jute and Exports Ltd.                          | Cabinet                                 |
| 11.                                     | Handicrafts and Handlooms Export Corp. of India Ltd. | Cabinet                                 |

## Annexure IV referred to in part (a), (b) & (c) of reply to Lok Sabha Unstarred Question No. 1345 for answer on 08.12.2025

## Financial Performance of CPSEs for Last 5 Years

(₹ in Crore)

| Sr. No.                                 | CPSEs Name                              | 2019-20                                 | 2020-21                                 | 2021-22                                 | 2022-23                                 | 2023-24                                 |
|-----------------------------------------|-----------------------------------------|-----------------------------------------|-----------------------------------------|-----------------------------------------|-----------------------------------------|-----------------------------------------|
| Ministry of Heavy Industries            | Ministry of Heavy Industries            | Ministry of Heavy Industries            | Ministry of Heavy Industries            | Ministry of Heavy Industries            | Ministry of Heavy Industries            | Ministry of Heavy Industries            |
|                                         | Bharat Pumps &Compressors Ltd.          | Bharat Pumps &Compressors Ltd.          | Bharat Pumps &Compressors Ltd.          | Bharat Pumps &Compressors Ltd.          | Bharat Pumps &Compressors Ltd.          | Bharat Pumps &Compressors Ltd.          |
| 1.                                      | Total Revenue                           | 66.97                                   | 0                                       | 0                                       | 0                                       | 0                                       |
| 1.                                      | Net Worth                               | (213.61)                                | 0                                       | 0                                       | 0                                       | 0                                       |
| 1.                                      | Net Profit                              | (26.99)                                 | 0                                       | 0                                       | 0                                       | 0                                       |
| 2.                                      | Hindustan Cables Ltd.                   | Hindustan Cables Ltd.                   | Hindustan Cables Ltd.                   | Hindustan Cables Ltd.                   | Hindustan Cables Ltd.                   | Hindustan Cables Ltd.                   |
|                                         | Total Revenue                           | 0                                       | 0                                       | 0                                       | 0                                       | 0                                       |
|                                         | Net Worth                               | (454.7)                                 | 0                                       | 0                                       | 0                                       | 0                                       |
|                                         | Net Profit                              | 13.89                                   | 0                                       | 0                                       | 0                                       | 0                                       |
| 3.                                      | HMTWatches Ltd.                         | HMTWatches Ltd.                         | HMTWatches Ltd.                         | HMTWatches Ltd.                         | HMTWatches Ltd.                         | HMTWatches Ltd.                         |
| 3.                                      | Total Revenue                           | 0.35                                    | 0                                       | 0                                       | 0                                       | 0                                       |
| 3.                                      | Net Worth                               | (2686.03)                               | 0                                       | 0                                       | 0                                       | 0                                       |
| 3.                                      | Net Profit                              | 0.96                                    | 0                                       | 0                                       | 0                                       | 0                                       |
|                                         | Scooters India Ltd.                     | Scooters India Ltd.                     | Scooters India Ltd.                     | Scooters India Ltd.                     | Scooters India Ltd.                     | Scooters India Ltd.                     |
|                                         | Total Revenue                           | 72.01                                   | 0                                       | 0                                       | 0                                       | 0                                       |
| 4.                                      | Net Worth                               | 50.02                                   | 0                                       | 0                                       | 0                                       | 0                                       |
|                                         | Net Profit                              | (15.73)                                 | 0                                       | 0                                       | 0                                       | 0                                       |
| Department of Pharmaceuticals           | Department of Pharmaceuticals           | Department of Pharmaceuticals           | Department of Pharmaceuticals           | Department of Pharmaceuticals           | Department of Pharmaceuticals           | Department of Pharmaceuticals           |
| 5.                                      | Indian Drugs &Pharmaceuticals Ltd.      | Indian Drugs &Pharmaceuticals Ltd.      | Indian Drugs &Pharmaceuticals Ltd.      | Indian Drugs &Pharmaceuticals Ltd.      | Indian Drugs &Pharmaceuticals Ltd.      | Indian Drugs &Pharmaceuticals Ltd.      |
| 5.                                      | Total Revenue                           | 0                                       | 0                                       | 0                                       | 0                                       | 0                                       |
| 5.                                      | Net Worth                               | 0                                       | 0                                       | 0                                       | 0                                       | 0                                       |
| 5.                                      | Net Profit                              | 0                                       | 0                                       | 0                                       | 0                                       | 0                                       |
|                                         | Rajasthan Drugs &Pharmaceuticals Ltd.   | Rajasthan Drugs &Pharmaceuticals Ltd.   | Rajasthan Drugs &Pharmaceuticals Ltd.   | Rajasthan Drugs &Pharmaceuticals Ltd.   | Rajasthan Drugs &Pharmaceuticals Ltd.   | Rajasthan Drugs &Pharmaceuticals Ltd.   |
| 6.                                      | Total Revenue                           | 0                                       | 0                                       | 0                                       | 0                                       | 0                                       |
| 6.                                      | Net Worth                               | 0                                       | 0                                       | 0                                       | 0                                       | 0                                       |
| 6.                                      | Net Profit                              | 0                                       | 0                                       | 0                                       | 0                                       | 0                                       |
| Department of Defence Production        | Department of Defence Production        | Department of Defence Production        | Department of Defence Production        | Department of Defence Production        | Department of Defence Production        | Department of Defence Production        |
|                                         | Vignyan Industries Ltd.                 | Vignyan Industries Ltd.                 | Vignyan Industries Ltd.                 | Vignyan Industries Ltd.                 | Vignyan Industries Ltd.                 | Vignyan Industries Ltd.                 |
| 7.                                      | Total Revenue                           | 27.08                                   | 27.08                                   | 0                                       | 0                                       | 0                                       |
| 7.                                      | Net Worth                               | 4.66                                    | 4.66                                    | 0                                       | 0                                       | 29.14                                   |
| 7.                                      | Net Profit                              | (0.33)                                  | (0.33)                                  | 0                                       | 0                                       | (1.14)                                  |
| Department of Chemicals &Petrochemicals | Department of Chemicals &Petrochemicals | Department of Chemicals &Petrochemicals | Department of Chemicals &Petrochemicals | Department of Chemicals &Petrochemicals | Department of Chemicals &Petrochemicals | Department of Chemicals &Petrochemicals |
|                                         | Hindustan Organic Chemicals Ltd.        | Hindustan Organic Chemicals Ltd.        | Hindustan Organic Chemicals Ltd.        | Hindustan Organic Chemicals Ltd.        | Hindustan Organic Chemicals Ltd.        | Hindustan Organic Chemicals Ltd.        |
| 8.                                      | Total Revenue                           | 300.01                                  | 411.58                                  | 433.67                                  | 631.43                                  | 703.89                                  |
| 8.                                      | Net Worth                               | (895.38)                                | (878.72)                                | (904.91)                                | (955.71)                                | (964.35)                                |
| 8.                                      | Net Profit                              | (94.75)                                 | 15.97                                   | (26.19)                                 | (50.22)                                 | (55.32)                                 |
|                                         | Hindustan Fluorocarbons Limited         | Hindustan Fluorocarbons Limited         | Hindustan Fluorocarbons Limited         | Hindustan Fluorocarbons Limited         | Hindustan Fluorocarbons Limited         | Hindustan Fluorocarbons Limited         |
| 9.                                      | Total Revenue                           | 36.96                                   | 0                                       | 0                                       | 0                                       | 0                                       |
|                                         | Net Worth                               | (77.28)                                 | 0                                       | 0                                       | 0                                       | (112.66)                                |
|                                         | Net Profit                              | (3.63)                                  | 0                                       | 0                                       | 0                                       | 1.23                                    |

| Sr. No.              | CPSEs Name                                              | 2019-20                                                 | 2020-21                                                 | 2021-22                                                 | 2022-23                                                 | 2023-24                                                 |
|----------------------|---------------------------------------------------------|---------------------------------------------------------|---------------------------------------------------------|---------------------------------------------------------|---------------------------------------------------------|---------------------------------------------------------|
| Sr. No.              | CPSEs Name                                              | 2019-20                                                 | 2020-21                                                 | 2021-22                                                 | 2022-23                                                 | 2023-24                                                 |
| Ministry of Textiles | Ministry of Textiles                                    | Ministry of Textiles                                    | Ministry of Textiles                                    | Ministry of Textiles                                    | Ministry of Textiles                                    | Ministry of Textiles                                    |
| 10.                  | National Jute Manufactures Corporation Ltd.             | National Jute Manufactures Corporation Ltd.             | National Jute Manufactures Corporation Ltd.             | National Jute Manufactures Corporation Ltd.             | National Jute Manufactures Corporation Ltd.             | National Jute Manufactures Corporation Ltd.             |
| 10.                  | Total Revenue                                           | 0                                                       | 0                                                       | 0                                                       | 0                                                       | 0                                                       |
| 10.                  | Net Worth                                               | 0                                                       | 0                                                       | 0                                                       | 0                                                       | 0                                                       |
| 10.                  | Net Profit                                              | 0                                                       | 0                                                       | 0                                                       | 0                                                       | 0                                                       |
| 11.                  | Birds Jute &Exports Ltd.                                | Birds Jute &Exports Ltd.                                | Birds Jute &Exports Ltd.                                | Birds Jute &Exports Ltd.                                | Birds Jute &Exports Ltd.                                | Birds Jute &Exports Ltd.                                |
| 11.                  | Total Revenue                                           | 0                                                       | 0                                                       | 0                                                       | 0                                                       | 0                                                       |
| 11.                  | Net Worth                                               | 0                                                       | 0                                                       | 0                                                       | 0                                                       | 0                                                       |
| 11.                  | Net Profit                                              | 0                                                       | 0                                                       | 0                                                       | 0                                                       | 0                                                       |
| 12.                  | Handicrafts &Handloom Exports Corporation of India Ltd. | Handicrafts &Handloom Exports Corporation of India Ltd. | Handicrafts &Handloom Exports Corporation of India Ltd. | Handicrafts &Handloom Exports Corporation of India Ltd. | Handicrafts &Handloom Exports Corporation of India Ltd. | Handicrafts &Handloom Exports Corporation of India Ltd. |
| 12.                  | Total Revenue                                           | 54.66                                                   | 0                                                       | 0                                                       | 0                                                       | 0                                                       |
| 12.                  | Net Worth                                               | (43.23)                                                 | 0                                                       | 0                                                       | 0                                                       | 0                                                       |
| 12.                  | Net Profit                                              | (4.00)                                                  | 0                                                       | 0                                                       | 0                                                       | 0                                                       |
| Department of        | Commerce                                                | Commerce                                                | Commerce                                                | Commerce                                                | Commerce                                                | Commerce                                                |
| 13.                  | STCL Ltd.                                               | STCL Ltd.                                               | STCL Ltd.                                               | STCL Ltd.                                               | STCL Ltd.                                               | STCL Ltd.                                               |
| 13.                  | Total Revenue                                           | 0                                                       | 0                                                       | 0                                                       | 0                                                       | 0                                                       |
| 13.                  | Net Worth                                               | (4566.45)                                               | 0                                                       | 0                                                       | 0                                                       | 0                                                       |
| 13.                  | Net Profit                                              | (0.47)                                                  | 0                                                       | 0                                                       | 0                                                       | 0                                                       |

*****

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