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{{ | {{short description|Defunct public sector undertaking}} | ||
{{Use dmy dates|date= | {{Use dmy dates|date=January 2025}} | ||
{{Use Indian English|date=June 2016}} | {{Use Indian English|date=June 2016}} | ||
{{Infobox company | |||
| name = Biecco Lawrie | |||
| logo = | |||
| logo_caption = | |||
| logo_upright = <!-- default: 1 --> | |||
| logo_alt = | |||
| type = [[Public sector undertaking]] | |||
| industry = {{ubl|[[Petroleum]]|Electricity}} | |||
| predecessor = British India Electric Construction Co | |||
| founded = {{Start date and age|df=y|1919||}} in [[Calcutta]], [[British India]] | |||
| founder = | |||
| defunct = {{End date|df=y|2018|8|10}} | |||
| fate = Shut down | |||
| successor = | |||
| hq_location_city = [[Kolkata]], West Bengal | |||
| hq_location_country = India | |||
| area_served = | |||
| key_people = | |||
| products = | |||
| owner = {{ubl|Oil Industry Development Board (OIDB)|[[Government of India]]}} | |||
| num_employees = 275 | |||
| num_employees_year = 2018 | |||
| parent = | |||
| website = <!-- {{URL|example.com}} --> | |||
}} | |||
'''Biecco Lawrie Co. Limited''' ('''BLL''') was an Indian [[public sector undertaking]] under the ownership of the [[Ministry of Petroleum and Natural Gas]], [[Government of India]], headquartered in [[Kolkata]]. It was originally established in 1919 as British India Electric Construction Company Limited. | |||
==History== | |||
The company was originally established in 1919 in [[Calcutta]], [[British India]] as the British India Electric Construction Company (BIECCO). It began as a manufacturer of [[tea garden]] machinery and also produced [[Shell (projectile)|shell]] cases, food containers, and camouflage sets for the military during [[World War II]]. In 1932, the company started producing affordable fans for the public.<ref name="EC"/> | |||
==Service== | |||
BLL ran four business operations—switchgear manufacturing, electrical repair, projects division, and lubricating oil blending and filling facility.<ref>{{cite news |author1=IANS |title=Cabinet approves closure of loss-making Biecco Lawrie |url=https://www.business-standard.com/article/news-ians/cabinet-approves-closure-of-loss-making-biecco-lawrie-118101000565_1.html |access-date=14 October 2023 |work=[[Business Standard]] |date=10 October 2018}}</ref> | |||
The company had a [[lubricating oil]] blending plant with an annual capacity of 12,000 kilolitres. Additionally, the company manufactured switchgears and also untertook small power distribution projects, while also marketing products such as kerosene, [[paraffin wax]], [[bitumen]], and [[furnace oil]]. It also had a separate turnkey project and electrical repair division.<ref name="EC"/> | |||
As of fiscal 2007, the company incurred aggregated revenue of {{INRConvert|525|m}}.<ref name=bll>{{Cite web |url=http://www.biecco.gov.in/Accounts/BSPL0607.pdf |title=Financial Statement |access-date=16 January 2008 |archive-url=https://web.archive.org/web/20081201225953/http://www.biecco.gov.in/Accounts/BSPL0607.pdf |archive-date=1 December 2008 |url-status=dead }}</ref> | As of fiscal 2007, the company incurred aggregated revenue of {{INRConvert|525|m}}.<ref name=bll>{{Cite web |url=http://www.biecco.gov.in/Accounts/BSPL0607.pdf |title=Financial Statement |access-date=16 January 2008 |archive-url=https://web.archive.org/web/20081201225953/http://www.biecco.gov.in/Accounts/BSPL0607.pdf |archive-date=1 December 2008 |url-status=dead }}</ref> | ||
==Shut down== | |||
The company has over a decade accumulated {{INR}} 153.95 crore loss, with negative [[net worth]] of {{INR}} 78.88 crore at the end of the FY 2017–18. On 10 October 2018, the [[Government of India]] decided to shut down Biecco Lawrie after approval by the Cabinet Committee on Economic Affairs (CCEA). Its employees were given Voluntary Retirement Scheme (VRS) / Voluntary Separation Scheme (VSS). Although the Ministry of Petroleum and Natural Gas had made attempts to revive the company by selling, oil companies refused to buy the firm. 67.33 per cent stake of the company is held by Oil Industry Development Board (OIDB) and 32.33 per cent is with the government. The remaining 0.44 per cent shares are held by others.<ref name="EC">{{Cite web|url=https://economictimes.indiatimes.com/news/economy/policy/government-to-shut-biecco-lawrie-limited/articleshow/66152345.cms|title=Government to shut Biecco Lawrie Limited|date=10 October 2018|work=The Economic Times}}</ref> | |||
==References== | ==References== | ||
{{reflist}} | |||
{{Energy Ministries and Departments of India}} | {{Energy Ministries and Departments of India}} | ||
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{{india-company-stub}} | {{india-company-stub}} | ||
Latest revision as of 12:25, 23 January 2025
| Industry |
|
|---|---|
| Fate | Shut down |
| Predecessor | British India Electric Construction Co |
| Founded | 1919 in Calcutta, British India |
| Defunct | 10 August 2018 |
| Headquarters | Kolkata, West Bengal , India |
| Owner |
|
Number of employees | 275 (2018) |
Biecco Lawrie Co. Limited (BLL) was an Indian public sector undertaking under the ownership of the Ministry of Petroleum and Natural Gas, Government of India, headquartered in Kolkata. It was originally established in 1919 as British India Electric Construction Company Limited.
History[edit | edit source]
The company was originally established in 1919 in Calcutta, British India as the British India Electric Construction Company (BIECCO). It began as a manufacturer of tea garden machinery and also produced shell cases, food containers, and camouflage sets for the military during World War II. In 1932, the company started producing affordable fans for the public.[1]
Service[edit | edit source]
BLL ran four business operations—switchgear manufacturing, electrical repair, projects division, and lubricating oil blending and filling facility.[2]
The company had a lubricating oil blending plant with an annual capacity of 12,000 kilolitres. Additionally, the company manufactured switchgears and also untertook small power distribution projects, while also marketing products such as kerosene, paraffin wax, bitumen, and furnace oil. It also had a separate turnkey project and electrical repair division.[1]
As of fiscal 2007, the company incurred aggregated revenue of ₹525 million (US$7.4 million).[3]
Shut down[edit | edit source]
The company has over a decade accumulated ₹ 153.95 crore loss, with negative net worth of ₹ 78.88 crore at the end of the FY 2017–18. On 10 October 2018, the Government of India decided to shut down Biecco Lawrie after approval by the Cabinet Committee on Economic Affairs (CCEA). Its employees were given Voluntary Retirement Scheme (VRS) / Voluntary Separation Scheme (VSS). Although the Ministry of Petroleum and Natural Gas had made attempts to revive the company by selling, oil companies refused to buy the firm. 67.33 per cent stake of the company is held by Oil Industry Development Board (OIDB) and 32.33 per cent is with the government. The remaining 0.44 per cent shares are held by others.[1]
References[edit | edit source]
- ↑ 1.0 1.1 1.2 "Government to shut Biecco Lawrie Limited". The Economic Times. 10 October 2018.
- ↑ IANS (10 October 2018). "Cabinet approves closure of loss-making Biecco Lawrie". Business Standard. Retrieved 14 October 2023.
- ↑ "Financial Statement" (PDF). Archived from the original (PDF) on 1 December 2008. Retrieved 16 January 2008.
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