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HAL will get Rs 280.15 crore, RDPL Rs 43.7 crore and IDPL Rs 6.5 crore.
"The decision will mitigate sufferings of more than 1,000 employees of these PSUs and setting up of a committee of ministers will expedite in process of implementation of the earlier Cabinet decision on December 28, 2016 for the closure of IDPL and RDPL and strategic sale of HAL and BCPL," added the statement.
The Cabinet had earlier decided to sell surplus land of HAL, IDPL, RDPL and Bengal Chemicals and Pharmaceuticals Ltd (BCPL) through open competitive bidding to government agencies and clear the outstanding liabilities from the sale proceeds.
CRISIL believes that RDPL will maintain its healthy capital structure and benefit from its promoters' industry experience, over the medium term.
RDPL reported a profit after tax (PAT) of Rs.28 million on net sales of Rs.502 million for 2009-10 (refers to financial year, April 1 to March 31), against a PAT of Rs.25 million on net sales of Rs.394 million for 2008-09.
The ratings reflects the synergies RDPL is expected to continue to derive from its association with its group companies, RDPL's recently expanded capacity, and healthy growth prospects for the cotton yarn industry.
CRISIL believes that RDPL will maintain its financial risk profile at the improved level over the medium term.
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