BGR Energy Systems appoints empowered committee

Board placed on records its deep grief and sorrow on untimely and sudden demise of B G Raghupaty

BGR Energy Systems Ltd said that its Board of Directors has constituted an empowered committee to carry forward the affairs of the company, further to the sudden demise of B G Raghupathy, founder, chairman and managing director.

The Board placed on records its deep grief and sorrow on the untimely and sudden demise of B G Raghupaty. Under his leadership, the order book grew in excess of Rs 11,000 crore, it said.

The empowered committee of Directors consists of Executive Directors of the company with participation from the promoter family and includes V R Mahadevan, director - technologies, A swaminathan, director - sales and marketing, K Chandrashekhar, director - projects, Swarnamugi Karthik, director - corporate strategy and R Ramesh Kumar, president - corporate and secretary. BGR Energy carries on the business in two segments, the Supply of systems and Equipment and Turnkey Engineering project contracting.

 

The 59-year old Chairman and Managing Director of BGR Energy Systems B G Raghupathy (known as BGR) passed away in Chennai on July 28, 2013. He was the first generation entrepreneur who incorporated the company in 1985, as a joint venture along with GEA Energietechnik GmbH, Germany.

Prior to founding the Company, Raghupathy worked as a marketing executive specialising in the sale of industrial equipment, instruments and control systems. He subsequently served as the CEO of Introls, a company engaged in trading. He had over 34 years of experience in the fields of marketing, sales and management.

People close to him says that the company saw a phenomenal growth in the last 30 years and one of his aspiration was to join the league of companies like BHEL in the sector. On June 28, 2007 the company name was changed from GEA Energy System (India) Limited, to BGR Energy Systems Limited and in 2008 the company was listed on the stock exchanges.

BGR Systems reported a net profit of Rs 163.67 crore and a revenue of Rs 3,107.17 crore in 2012-13. Raghupathy was developing independent power generation projects of 2640 MW in India. BGR Energy has a strategic partnership with Hitachi for manufacture of Super-critical Boiler, Turbine and Generators of 660 MW, 800 MW and 1000 MW.

BGR Systems was originally incorporated to manufacture and sell On-line Condenser Tube Cleaning Systems, Debris Filters and Rubber Cleaning Balls used in Thermal and Nuclear Power Plants. In 1993 Raghupathy and members of his family became the sole shareholders of the Company and began to expand the range of product and services range in the Power and Oil & Gas industries.

Raghupathy's wife Sasikala Raghupathy and his first daughter Swarnamugi Karthik joined the Board in February this year. The other two daughters and son are also with the company in different positions. Arjun, who completed his BE recently is going through training in the company and it was learnt Priyadarshini did her engineering and management courses.