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BPL
BPL
BPL Group
BPL Group
Type
Industry
Electronics
Founded
1963
Headquarters
Mumbai, India
Revenue
Operating income
Rs 90 Crores
Net income
Employees
around 250
Website
www.bpl.in
History
In 1963, BPL founder and Group Chairman TPG Nambiar began manufacturing hermetically sealed precision panel meters in Palakkad, Kerala, under the name of British Physical Laboratories. Having worked in the UK and USA, when he came back to India armed with a vision of pioneering the manufacture of superior quality electronic products, he dreamed of making BPL a household name. Over the years, BPL's growth has been subject to constant challenges. The company was started at a time when the government had reserved many areas of business for the public sector. It had also virtually barred most entrepreneurs from entering other fields through reservations on licensing.
1980s
From 1980 onwards, when the industrial licensing was relaxed, BPL began manufacturing televisions and telecommunications equipment, demonstrating its potential and future business area. In the early 1990s, after globalisation and liberalization of the Indian economy, competition entered the market. BPL retained its strong presence and growth rate. BPL concentrated on importing technology, improving product quality, innovations and manufacturing of electronic products. In late 1980s, BPL had metamorphosed from an entrepreneurial venture, into India's biggest consumer electronics & telecommunication company; the slide from the top was equally quick after liberalisation.
Performance
BPL Ltd has reported a net loss of Rs 34.76 crore in the second quarter of fiscal 2005-06, on gross sales of Rs 34.71 crore. Operating losses were at Rs 13.91 crore. Gross sales were Rs 64.45 crore in the corresponding period during 2004-05 while net loss was at Rs 41.59 crore. According to the company, the promoters have brought in Rs 50.08 crore as contemplated in the corporate debt restructure approved scheme. The amount was to pay statutory liabilities, unsecured, pressing creditors, dealers, credit balances, employee dues and working capital requirements, in part. In respect to the auditors' qualification of the company's accounts for the period ended March 31, 2005, about undisputed amounts payable in respect of income-tax (Rs 4.44 crore), dividend tax (Rs 2.51 crore), wealth tax (Rs 0.11crore), TDS (Rs 6.77 crore) and customs duty (Rs 1.68 crore), the Chairman and Managing director, Mr Ajit G. Nambiar said the company had earlier
not been able to remit the dues because of cash flow constraint but in July 2005, remitted the entire dues except Rs 1.26 crore in customs duty. The balance in customs duty would be paid once the financial restructuring is completed and normalcy of operations is achieved, according to the company.