BPCL fares well, set for a turnaround

ALLAHABAD: Bharat Pumps and Compressors Ltd (BPCL), a public sector undertaking under the control of union ministry of heavy industries and public enterprises, seems set for a turnaround.

The company has surpassed the past three years’ performance.

“In the current financial year, BPCL has given extra thrust in completing old orders of customers to regain their confidence. In this direction, orders of ONGC-Nazira, SAIL-Bokaro, HMEL-Bhatinda, IOCL-Mathura and BORL-Bina have been closed. Moreover, it has made drastic progress in major orders of BHEL-Hyderabad and NPCIL-Mumbai,” said company’s CMD RK Paul while addressing employees.

Paul said in the 2017-18 fiscal, BPCL achieved sales of Rs 76.75 crore, an improvement of 2.45 per cent over last year’s sales.

The value addition was 12 lakh per employee and an increase of 32.27 per cent.

“The order book at the end of year stands at Rs 108 crores, and cash collection was Rs 63.47 crore, again an improvement of 44 per cent over the last year. There has been drastic reduction in manpower, due to retirement, which stands at 298 as on date against 391 as on April 1, 2017. The company has been able to reduce its losses by 23 per cent over last year,” he further said.

The company was set up in 1970 at Naini as an import substitution unit for manufacturing sophisticated process pumps and compressors for core sector industries, which were hitherto being imported by them.