The country's first pharmaceutical company, Bengal Chemicals & Pharmaceuticals Limited (BCPL), has been rated Excellent Corporate Governance Ratings consecutively for the last three years by the Department of Public Enterprises, a company statement said today.
The state-run Bengal Chemicals has dramatically improved its overall performance during the last three years starting from 2015-16 when it got Excellent Corporate Governance Rating as well as Excellent MoU Rating, the company said.
"It is an overall improvement of financial, operational and discipline of the legendary organisation which is the sole secret for this turnaround," Bengal Chemical managing director PM Chandraiah said.
After 40 years, BCPL posted a net profit of Rs 4 crore and a topline of Rs 111 crore in 2016-17.
The Centre was even contemplating divestment or induction of a strategic partner as the PSU was a loss-making entity since 1977 when the government took over the company set up by Acharya Prafulla Chandra Ray in 1901.
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