Data is not available for this company.
Data is not available for this company
BST Ltd., formerly known as BPL Electronics Ltd. with the objective of getting into the business of manufacturing of audio equipment, radio cassette recorders, TV sets, tape deck mechanism and components/parts required thereof; was incorporated in 1981, under the name of BPL Electronics Ltd. It initially, started off, with the activities of trading in cassette tape recorders and push button telephones.
It later expanded its range of product by setting up a 100%
It later expanded its range of product by setting up a 100% export oriented unit for the manufacture of radio cassette recorders, musical systems, compact disc players, TV sets, etc. in order to reduce dependence on imports. Since then, to augment market share in audio, the Company launched several trendy models in VCD players, Car audio and introduced innovative Digital Satellite Radio Receivers to the Indian market. The entire range of audio was given a face-lift in terms of features and aesthetics. To improve on cost competitiveness, mass-market products were outsourced from reputed manufacturers under strict quality environment. These steps were well received by the market and it is reflected in the improvement of top line as well as bottom line.
It signed a MoU with KSIDC ( Karnataka state Industrial corporation) and BPL Group. The company has also signed a MoU with Sanyo, Japan for exporting the entire output and markets the company`s products in the domestic sector through a vast network of dealers/stockists. It also entered into a strategic alliance with Ford Mahindra for supply of car stereos.
It launched Digital Satellite Receivers in India, a new concept of receiving satellite digital audio broadcast service and with assistance from Sanyo, has also steamlined the line of hi-fi audios (Midi, Mini and Macro) VCDs, so as to emerge as a formidable player in ever growing audio market in the country.
The company bagged order worth Rs 4 crore to manufacture 25,000 Digital Satellite Receivers of the Celeste-11 variety. These sets are meant for the Indian market. It also has bagged largest single export order (ever received by an Indian company) for the supply of an order for 30,000 units of digital satellite radio receivers, to be commissioned to the Washington-USA based Worldspace Corporation, for use by the Kenya Institute of Education Project in Kenya after a rigorous selection process.
C R Menon, Chief Operating Officer of the company has been appointed as the Whole time Director of the company. Mr. Shashi Nambiar has resigned, as the Managing Director of the company however, will continue as a Director on the Board in a Non-executive capacity.
60,10,000 No. of equity shares of Rs.10 each then issued at par of which the following shares were reserved & allotted on a firm basis:
Simultaneous to the public issue in September, the company also issued 9,80,000 - 12.5% secured redeemable partly convertible debentures of Rs.150 each, of which 1,00,000 debentures were reserved & allotted on firm basis to promoters, directors, their friends & relations. Of the remaining 8,80,000 debentures, the following were reserved for allotment on a pref. basis:
The company plans to increase its market share by revamping of existing models, introduction of state-of-the-art technology produced with VCD Version 2.0, MP3, Digital Satellite Radio Receivers and new Car Audios models. It will be manufacturing two models of Digital Satellite Radio Receiver units in India through its efforts in Research and Development and sees enormous opportunities for marketing these unit not only for domestic markets but also for large exports, possibly to SAARC Countries, Middle East and Africa with the help of World Space. The company is also looking at a number of new consumer durables to be launched in phases during the year.
It also plans the expansion of the marketing and sales networks to ensure deeper penetration in the market.