Transformers & Electricals Kerala Limited (TELK), a joint venture of the Kerala government and NTPC Limited, has said that it notched up its highest ever transformer production of 5,806 Megavolt Ampere (MVA), registering 12% growth over the previous year. The company reported an increase of 8.3% in net profit after tax during 201312 and 8.6% in net worth to touch Rs 116.24 crores. This was against the backdrop of difficult market conditions adversely affecting the transformer industry and many transformer manufacturers reporting operating losses during the year, TELK MD Arun Kumar Gupta said. At its board meeting held on April 24, the board of directors of the company has recommended dividend for a third consecutive year and approved the annual accounts for 201112. Thus, TELK achieved the distinction of becoming the first state PSU to complete the finalization of its annual accounts in the state for a second time. Gupta said. 

TELK has set an ambitious manufacturing target of 6,400 MVA for 201213, whereas the current installed capacity is 4,500 MVA. 

 "This is despite stagnation in the power sectors and intense competitive pressure from other domestic and international manufacturers," Gupta added.