BPL group
From Wikipedia, the free encyclopedia
| BPL Group | |
 |
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| Type | Public (NSE, BSE) |
|---|---|
| Founded | 1963 |
| Headquarters |  Mumbai, India |
| Industry | Electronics |
| Products | televisions, refrigerators, washing machines, microwaves & audio equipment |
| Revenue | Rs 24.126 billion |
| Employees | 14,000 |
| Website | www.bplworld.com |
BPL is an Indian electronics company. The acronym stands for "British Physical Laboratories"[citation needed]. It deals with consumer appliances (such as referigerators and washing machines), home entertainment products and healthcare devices.
[edit] 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.
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 liberalisation of the Indian economy, competition entered the market. BPL retained its strong presence and growth rate. Strategic alliances with international companies provided the technology for them and set the standards of quality.
Using its experience of the market and the consumer, BPL concentrated on importing technology, improving product quality, innovations and manufacture of electronic products that enhanced the quality of life. After 37 years, BPL has metamorphosed from an entrepreneurial venture, into India's biggest consumer electronics company.
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.
Kicking off the action of the year, however, were old partners the BPL Group and Japanese electronics major Sanyo Electric Company Ltd, who formally started their 50:50 Joint Venture.
The partners, who had shared a long-standing relationship since 1982, had been off the market for about two years, going through some tough times. This year, they decided to get back in action together to regain lost market share.
While unveiling the Joint Venture's plans, Sanyo-BPL Pvt Ltd Chairman and Chief Executive Officer, Ajit G Nambiar, said the company expected to post revenues of around Rs 2,000 crore by 2009 and lead the market in consumer electronics and white goods in five years.
They, however, decided to market their brands separately with BPL focusing on the volume segment while Sanyo brand positioned itself as the value driver.
Besides, Sanyo also planned to use India as its sourcing base and has already started sourcing slim TVs from India. It also expected India to contribute five per cent of its global revenues from its operations in India.
[edit] External links
On September 19, 2005 BPL sold its dry cell battery business to Eveready Industries for Rs.67 crores. It however decided to retain its alkaline battery business.
