Kolkata, 9 January: In a massive turnaround of its fortune during the past few years,the Kolkata headquartered public sector ‘Bridge and Roof Company(India)Limited’,a Miniratna category company, has targeted to become a Rs 5,000 crore company within the next five years following a massive expansion and diversification of its work profile.
Announcing the ‘commitment and determination’ of the century old company’s over 1200 odd employees to reach the target by all means in view of the central government’s decision to disinvest the company by selling large chunk of government shares to private players a few years ago, new Chairman and Managing Director of B and R Sunil Sardar here today said since the government announcement (for disinvestment which is still pending) in 2016, the employees and all officials of the company, which had been incurring losses for several years,had decided to prove the government decision wrong and decided to go for an all out attempt for an immediate turnaround of the poor financial condition of the company.
Accordingly,’our present order position now stood at over Rs 8500 crores and we are all set to earn a Profit Before Tax of at least Rs 65 crores and the net profits of Rs 40 crores by March 2020 with an annual turnover of Rs 3500 crores’, Sardar claimed.
Giving a comparative figures of the company’s growth chart on year on year basis, the MD, flanked by his two directors told here this afternoon that during the last fiscal(2018-19) their turnover grew from Rs 1627 crores earlier to Rs 3,100 crores with the PBT becoming Rs 51.42 crores and the Profit After Tax to the tune of Rs 29.64 crores.
Replying to queries about the present status of the government’s disinvestment plan, Sardar said as there was no further communique from the Centre in this connection so far, they had decided to do away with any such possibility in near future and had concentrated for an all round and speedy growth of the company, overcoming the problems of fund crunch at any point of time
‘In order to maintain a sustained year on year growth to reach the target of becoming a Rs 5,000 crores turnover company by 2025 we had also decided to adopt a four pronged strategy in the coming years’, the MD said.
Further elaborating his time bound plans on the eve of celebrating the centenary year of the company from tomorrow in all its branches and having work orders from all across the country and abroad, Sardar said apart from executing their plan to revive the production of Railway wagons at the rate of at least 200 wagons per annum,they had already requested the high ups of the Indian Railways to provide orders also for the repairing of old ones under a separate division.
‘Our talks with Indian Railways in these connections are at the final stages now and we hope to re launch the new wagon production and their repairs at the company’s state of the art shed at Howrah soon’, he said.
In addition major stress would be given for the revamping the large scale fabrication work of various bridge guards of upto 150 feet each,and start production of different types of Belly Bridges and Portable Cabins to serve various purposes of the Railways and the Shipping companies and others,he said and exuded confidence that with the availability of a large and efficient workforce they would be able to reach the target on time apart from forcing the government to withdraw their decision for a disinvestment of such a major profit making Public sector unit anytime in future.