DIBRUGARH, Oct 31: The managing director of BCPL Reep Hazarika on Monday said BCPL paid a dividend of Rs 212 crore for the financial year 2021-22 to the promoters.
Addressing media persons, Reep Hazarika said, “The market share of the company is steadily increasing with growing credibility amongst the customers.”
“The products were marketed to downstream industries achieving Polymer sales of 2.75 Lakh MT. The authorised share capital of BCPL is 72000 crores and the paid-up capital is 71417.67 crores as on 31 March 2022. The company has generated revenue of Rs 3243 crore making net profit of Rs 690.53 crore,” Hazarika said.
He said during the financial year 2021-22, the company successfully and safely operated the plant on a sustained basis at 100.46 % capacity utilisation producing 2.72 Lakh MT of Polymers and 55,923 MT liquid hydrocarbons.
“The plant has been operating at more than 100% capacity since the last four financial years. Efforts are on to sustain 100 % capacity utilization in this current year also. The company maintained a positive financial performance in the fiscal though there is a rise in international Gas price and Crude Oil price.”
Hazarika said BCPL has been steadily and consistently improving performance generating operating profits from financial year 2017-18 onwards and enhancing capacity utilisation.
“The two major ongoing flagship projects at a cost of Rs 386 crore are Butene -1 and HPG-2. He also shared with the media that an amount of Rs 19.10 crore for the FY 2021-22 was earmarked for CSR activities. BCPL has constantly endeavored to overcome challenges related to feedstock supply. The company is exploring all possibilities for ensuring the naphtha availability and also a number of measures have been taken to augment natural gas sourcing both from PUs and private parties. BCPL has signed an MoU with AGCL for supplying additional natural gas to BCPL Lakwa plant,” he said.
BCPL has also initiated actions for de-bottlenecking & expansion for high value products and boosting gross margin. For enhancement of polymer production capacity, debottlenecking study is being carried out in consultation with M/s EIL and the licensors.
Further, the company is also exploring avenues for diversification of business.
The managing director, speaking on recent developments, said that BCPL entered into an agreement with Syama Prasad Mookerjee Port, Kolkata (SMPK) in February 2022. As per the MoU, a streamlined logistic chain movement of feed as well as product will be set up at Haldia Dock Complex.
“The second MoU was signed in April 2022 with the Inland water Authority of India (IWIA). The purpose of this MoU is to establish a framework of cooperation between IWAI and BCPL where BCPL expressed its willingness to use the National Waterway-2 (River Brahmaputra) and Indo-Bangladesh Protocol Route for transportation of their feasible products / raw materials through waterways,” Hazarika added.
The company has been vigilant about health & safety of both man & machine and committed to protection of the environment to ensure a sustainable future.
Safety audits are regularly conducted both in-house and through third parties to ensure implementation of the Health, Safety and Environment (HSE) standards and to check emergency preparedness. Utmost care has been taken to avoid incidents inside the plant complex. BCPL Laboratory is accredited in accordance with the latest NABL standard and BIS license obtained for polymer products.
BCPL has commendably and consistently won laurels and bagged several awards in areas of operations, safety, environment, energy, workplace culture and other fronts.
“The company’s commitment to Corporate Social Responsibility (CSR) activities, that BCPL has taken up many projects in consultation with the District Administration and will focus on Health & Nutrition in the financial year 2020-21 and 2021-22 which is the theme declared by the Department of Public Enterprises for implementation of CSR. Projects like infrastructure development of AMCH and local,” he said.
The company has a vibrant manpower team of over 600 permanent employees and around 2600 manpower under contract.
He further said that as a responsible corporate entity, through its CSR & CER initiatives, the company is taking up socially relevant programs promoting wholesome & sustained growth of the general populace.
Pradeep Rawat, GM, Chemical and HR, Alak Baruah, GM Electrical/Marketing, P. Changmai, GM Chemical/ operation/ic, Prithviraj Dash, Director Finance and Vijay Kumar Pal, CEO, BCPL were present during the press meet.