Replace Control M (^M) character with new line

Sorry Makarand but I need to do this as part of the shell script.

I also tried the below.

sed 's/'"$(printf '\015')"'//g' abc.txt > xyz.txt

It removed the ^M character but it is not replaced with newline character.

Please note that the original file is showing all data in single line with new line being displayed as ^M. When I do "wc -l abc.txt", it displays 0 rows indicating it is not recognising any new line characters.

My goal is to introduce these newline characters so that I can process the data row by row

Thanks!!