Bells Controls Ltd (BELCONTROL) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Bells Controls Limited (BELLCONT) was established in the year 1929 as Bell Asbestos & Engg- part of bestobell group of U.K Products & Services. The company is into the manufacturing of industrial instruments, asbestos and non-asbestos industrial packings, valves, seals and insulation materials.

The company also provides services in evaluation of enquiry and proposal preparation of instrumentation, evaluation of existing plant instrumentation, identification of problems, proposal for new schemes to improve productivity and efficiency.

Over the years it has built expertise both in manufacturing and project management, sourcing various parts and sub-assembles, components, various devices from India and abroad using out-standing database of quality vendors and logistic for supply chain management.

Bell Controls has entered into a collaboration Agreement with Cerberus A.G. Switzerland to promote its range of Fire Protection and Security Systems in India. The business was launched as a separate division called Bells Cerberus.

The company’s subsidairy, Bells Softech Limited specializes in solutions in industrial automation and embedded software.

Milestones

• 1971 - The company was incorporated as a public company on December 16. The company is registered at Calcutta.  The main objective of the company is to manufacture industrial instruments, asbestos and non-asbestos industrial packings, valves, seals and insulation materials.1973 - 60,000 shares issued. 2,20,000 bonus shares issued in June 1966. In Nov. 1971, 1,40,000 bonus shares issued.  In Jan. 1972, 2,80,000 shares issued (prem. of Rs. 4 per share): 20,000 shares reserved for working Indian Directors and employees of the company and 2,60,000 shares offered to the public.
• 1975 - 2,50,000 No. of equity shares issued as rights to the resident Indian shareholders.  12,075 shares forfeited.
• 1979 - The company received a letter of intent for effecting substantial expansion for the manufacture of certain items of process control instruments and equipment.
• 1980 - A technical collaboration agreement was entered into with The Foxboro Company, U.S.A. for acquiring know-how for the manufacture of electronic and pneumatic process control instruments and systems.  For the manufacture of electronic process control instruments and systems, the company undertook to set up a new unit at Belagola near Mysore, a backward area in Karnataka State.
• 1981 - The construction of factory building for the Mysore unit was in progress and the delivery of technical know-how by the foreign collaborator was started.  Assembly operations with imported components were started.
• 1981 - The name of the company was changed from Bestobell India, Ltd. to Bells Controls Ltd. with effect from March 4.
• 1982 - The new manufacturing unit went into operation on October 19. The scheme for modernization and upgradation of technology at the Calcutta plant was also executed.
• 1985 - The company entered into a new technical collaboration agreement with The Foxboro Company, U.S.A. for acquiring know-how for microprocessor technology.
• 1987 - 8,30,000 No. of equity shares issued at par for cash to The Foxboro Co. Inc. USA.
• 1988 - During March, M/s. Foxboro Company were allotted 8,30,000 No. of equity shares of Rs. 10 each of the Company.  With this, the collaborators participation in the equity capital of the company amounted to 25%.
• 1991 - The overall working was affected adversely as the Government of India imposed severe curbs and heavy cash margins on imports. Being dependent on imported components, these restrictions affected the Company's production and sales.
• 1992 - The company was able to overcome fully the problems faced in the past year and all efforts were made to maintain the improved trend and profitability in the coming years.
• 1993 - Major orders in the system business was achieved by the Company and a prestigious order from CESC for supply of Intelligent Automation System was received for their Budge Budge 2 x 250 MW thermal power station.  Also, a repeat export order was received from Foxboro Company, USA for supply of micro processor based instruments.
• 1994 - The company entered into a Distribution Agreement with Air Instruments & Measurement, USA for marketing and servicing environment monitoring and control equipment in the country and was in the process of concluding an agreement with KDG Mobrey Ltd. for marketing in India of the pressure, flowmeter and level products manufactured by it.
• 1994 - Foxboro company, US proposed to procure certain items of process control hardware.  The arrangements under which the items would be manufactured in India at the company's plants in Calcutta and Mysore is to be exported to the Foxboro Co., are to be finalized shortly.  With this in view the company undertook to expand and upgrade its plants at Calcutta and Mysore.
• 1995 - The company also undertook to set up new system engineering unit at Bangalore by making investment to design, integrate, assemble, engineer, install and commission state-of-the-art Intelligent Automation Systems.
• 1995 - The company was in the process of upgrading its technology by way  of a new technology Transfer Agreement with Foxboro company, USA for controlled, Magflow Instruments etc.
• 1995 - During the year the company has entered into another agreement with DKG Mobrey Limited U.K. for marketing its Level instruments.
• 1995 - The company has allotted 15,60,000 Rights Equity shares of Rs. 10 each at a premium of Rs. 20 per share to the existing shareholders in the proportion of 1:5 through the prospectus on August 5.  (All were taken up).
• 1996 - In January, the company has entered into a collaboration Agreement with Cerberus A.G. Switzerland to promote its range of Fire Protection and Security Systems in India.  The business was launched as a separate division called Bells Cerberus.

Future Plans

The company plans to increase export production through upgradation of manufacturing capacity and optimize cost competitive advantages in export markets.