BS Refrigerators limited, belonging to the BPL Group, formerly known as BPL Refrigerators ltd. manufactures and distributes refrigerators, tool room products and injection moulded plastic products. Its transition from Samson components Pvt. Ltd.(known in 1987 at the time of incorporation) to BPL Electronic ltd., and then renaming as BPL Refrigerators ltd., has been the result of the shifting focus of the company`s activities, which has enabled it to emerge as pioneers in the refrigerator segment.
Though the company`s products were in the upper price segment, catering to the limited premium market, it has established leadership in refrigerator manufacturing technology in India. The company has assimilated technology from Sanyo Electric Co., Japan. Sanyo via BPL-Sanyo Finance has around 18 per cent equity in BS Refrigerators.
The company has set up comprehensive R&D facilities, and testing facilities for electrical and mechanical components used in production. The company has its manufacturing plants at Bangalore in Karnataka and at Palghat in Kerala.
Recent Developments
The company increased its portfolio with the launch of new Direct Cool models, to target the largest segment of the refrigerator market. This new product range now boasts an increase of three new Direct Cool and four new Frost Free models in a span of one year.
The company`s sales decreased by 10.7% in FY`01 with overall drop in sales by 74.9% in Tool Room Products, 8.6% in Refrigerators and 12.8% in Moulded Plastic Parts. Refrigerators accounted for 99% of FY ‘01 gross revenues; tool room products about 1% and Injection moulded plastic parts, very nominal.
The company achieved a lower gross profit margin than in 2000.
Milestones
1987 - The company was incorporated in Karnataka on December 17 under the name and style of Samson Components Pvt. Ltd. It became a deemed public company with effect from October 4, 1988. The name was changed to Samson Tools and Components, Ltd. on November 10, 1988. It was further changed to BPL Electronics Ltd., on August 10, 1989. The Company was converted into a public Ltd., company on August 14, 1989. It was promoted by British Physical Laboratories India, Ltd.
1987 - The company's main object was to manufacture injection moulded plastic components for electronic industry and plastic industry tools.
1987 - The company undertook to implement a project for the manufacture of 1,000 TPA of injection moulded plastic components for electronic industry and manufacture of Rs.600 lakh worth plastic moulding tools on single shift basis.
1987 - The company entered into a technical assistance agreement with Samson Industries Co., Ltd. Taiwan. Land was allotted by Karnataka Industrial Area Development Board at Whitefield, Bangalore.
1989 - 4,15,030 shares at par subscribed for by the signatories to the Memorandum and Articles of Association and promoters.
1991 - Steps were being taken to implement a project for manufacture of refrigeration and air conditioners in collaboration with Sanyo Electric Co., Japan.
1991 - The company undertook the project for the manufacture of `No frost' refrigerators with technical assistance from Sanyo, Japan.
1991 - The company also proposed to add other products like deep freezer bottle coolers, air conditioners in the second phase of this project.
1993 - Three models of refrigerators were launched and the overall working was reported to be satisfactory. With the launching of 185 litre model and 350 litre 3 door models, the company would be entering the major segment of refrigerator market.
1994 - The company proposed to introduce 200 litre direct cooling model offering latest generation features.
1994 - Effective from September 19, the name of the company was changed from BPL Electronics Ltd. to BPL Refrigeration Ltd.
1995 - Also proposed to introduce two more models.
2000 - BPL Refrigeration Ltd., to be renamed as BS Refrigerators Ltd., is working on the launch of a series of new models in line with customer expectations.
2007 - B S Refrigerators Limited has informed regarding the following change in the composition of the Board of the Company: R Sathyaji Raja has ceased to be a Director and Manager, by resignation, on January 17, 2007.
The company was planning to offer equity to financial institutions, existing certain businesses and hypothecation of certain assets to raise funds for working capital requirements, as BPL Ltd. plans to take a series of measures for its loss-making group companies.
If the financial institutions give approval for the plan, their equity could be in the region of around 20 per cent in the merged entity, absorbing BS Appliances and BS Refrigerators. Sanyo, to pick up around 40 per cent in the merged entity and however it does not want to take management control of the entity.
The company along with BS Appliances will buy around 50 per cent of the production of BPL`s three subsidiaries BPL Display Devices, BPL Engineering and BPL Electronic Research.
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