Bharat Pumps Pays Maiden Dividend Cheque to Government
merisarkar news service
New Delhi, October 14, 2010
'Miniratna' status to Bharat Pumps (File)
A dividend cheque of Rs 53.53 lakhs was handed over to Vilasrao Deshmukh, Union Minister for Heavy Industries and Public Enterprises by Bharat Pumps & Compressors Ltd. Chairman & Managing Director Abhay Kumar Jain. Sh. Arun Yadav, Minister of State for Heavy Industries, Secretary B S Meena and other senior officials of the Department of Heavy Industry were present on the occasion.
Bharat Pumps & Compressors Ltd. Allahabad (BPCL) is a Public Sector Undertaking under the administrative control of Department of Heavy Industry, Ministry of Heavy Industries & Public Enterprises. BPCL was incorporated in 1970 but became sick and was referred to BIFR in 1992.
Govt. of India approved a revival plan in December 2006. BPCL has been successfully achieving its targets after its turnaround in 2005-06 and has been continuously registering net profits since then, enabling it to today hand over its maiden dividend cheque to the Ministry.
The Company is engaged in the manufacture and supply of heavy pumps and compressors, high pressure seamless and CNG gas cylinders to cater to the needs of sectors like oil exploration refineries, petro-chemicals and fertilizer industries.
