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9.5 Bharat Wagon & Engineering Company
    Limited
     Bharat Wagon & Engineering Company Limited (BWEL)                Human Resource Management
was incorporated on 04.12.1978 with the objective of taking                 The company employed 860 regular employees as on
over the assets and interest of the erstwhile Arthur Butter & Co.     31.3.2011. The retirement age in the company is 58 years.
Muzaffarpur and Britanica Engg. Works, Mokameh. The main              It is following IDA 1992 pattern of remuneration. Details of
objective of the company is to be a leading Engineering unit          employment in last 3 years are given below:
with a brand image and eminence in the field of manufacturing
                                                                               Particulars            2010-11     2009-10   2008-09
of Railway Wagons.
     BWEL is a Schedule-‘C’ / BIFR / BRPSE referred CPSE               Executives including Non-
                                                                                                         109          95       101
                                                                       Unionised Supervisors
in Heavy Engineering sector under the administrative control of
the M/o Railway with 100% shareholding by the Government of            Non-Executives #                  751         787       796
India. Its Registered and Corporate Offices are at Patna, Bihar        Total Employees                   860         882       897
and the Regional Office is in New Delhi.                              # Detail break-up of Non-Executive employees is at Statement
                                                                      no. 25 of volume-I of PE Survey.
Vision / Mission
     The vision of the company is to become ‘state of the art’
wagon builder and fabricator in the country with competitive
and cost effective prices.
     The mission of the company is to achieve 10% market
share in wagon manufacturing in the country and to become a
significant player in the area of steel fabrication.
Industrial / Business Operations
     BWEL is engaged in manufacturing of Railway Wagons
& Steel Fabrication through its two operating units at Mokama
and Muzaffarpur in Bihar. One unit at Muzaffarpur which was
manufacturing cylinder, fuel storage and tanks is not in operation.
The physical performances of the company for last three years
are given below:
Major Product             Unit   2010-11    2009-10     2008-09
Railway Wagons            VU       197        254         176
Capacity Utilization       %       22%        29%         20%

Strategic issue
      The financial restructuring of the company has been approved
by DHI, Govt. of India as per the recommendations of BRPSE.
As per restructuring plan, the administrative control of company
is transferred to M/o Railway (MoR) from D/o Heavy Industries
(DHI) since the year 2008-09.
      The company has drawn a revised revival proposal estimated
at ` 108.65 crores ( ` 67 crore further fund support from GoI &
` 40.70 crore fund support from MoR), for onward submission
to the BIFR which also includes a sum of ` 45 crores on account
of proposed implementation of 1997 pay revision.
Performance Highlights
      The operational performance of the company along with
performance indicators and selected financial ratios during the
period 2008-09 to 2010-11 can be seen on the opposite page.
      The Company registered an increase of ` 6.93 crore in
total income during 2010-11 which went up to ` 36.93 crore in
2010-11 from ` 30.00 crore during 2009-10 due to increase in
price of wagon. The net loss of the company however increased
to ` 9.99 crore, an increase of ` 0.91 crore over the previous
year’s loss of ` 9.08 core due to increase in operating cost.




   184                                                                                                               Heavy Engineering
Bharat Wagon & Engineering Company Limited
‘C’Block, 5th floor, Maurya Lok Complex, Dak Bunglow Road, Patna-800001


 Balance Sheet                                                   (` in Lakhs)   Profit & Loss Account                                        (` in Lakhs)
 Particulars                                 2010-11   2009-10      2008-09     Particulars                              2010-11   2009-10      2008-09
 Authorised Capital                            1000       1000         1000     (1) Income
 (1) Sources Of Fund                                                            (A) Sales/Operating Income                 3754      2841          1243
 (1.1) Shareholders Funds                                                       (B) Excise Duty                               8         1              7
 (A) Paid-Up Capital
                                                                                (C) Net Sales (A-B)                        3746      2840          1236
 Central Govt                                   907        224           224
                                                                                (D) Other Income/Receipts                    49        92            405
 Others                                           0          0             0
                                                                                (E) Accretion/Depletion in Stocks           -102       68            160
 (B) Share Application Money                      0        683           683
                                                                                (I)Total Income (C+D+E)                    3693      3000          1801
 (C) Reserves & Surplus                           0          0             0
                                                                                (2) Expenditure
 Total (A) + (B) + (C)                          907        907           907
                                                                                (A) Purchase of Finished Goods/
 (1.2) Loan Funds                                                                                                          2908      2227          1074
                                                                                    Consumption Of Raw Materials
 (A) Secured Loans                              441        373             0
                                                                                (B) Stores & Spares                          15        31             17
 (B) Unsecured Loans                            500        500           500
                                                                                (C) Power & Fuel                            185       231            281
 Total (A) + (B)                                941        873           500
                                                                                (D) Manufacturing / Direct / Operating
 (1.3) Deferred Tax Liability                     0          0             0                                                 44        67             32
                                                                                    Expenses
 Total (1.1) + (1.2) + (1.3)                   1848       1780         1407     (E) Salary, Wages & Benefits /
                                                                                                                           1295      1167          1067
 (2) Application Of Funds                                                           Employee Exp.

 (2.1) Fixed Assets                                                             (F) Other Expenses                          119        86             91

 (A) Gross Block                               2244       2048         1841     (G) Provisions                                0         7              0
 (B) Less Depreciation                         1392       1347         1309     (II)Total Expenditure (A to G)             4566      3816          2562
 (C) Net Block (A-B)                            852        701           532    (3) Profit Before Dep, Int, Taxes &
                                                                                                                            -873      -816          -761
 (D) Capital Work In Progress                                                       EP (PBDITEP) (I-II)
                                                  0         11            45
 Total (C) + (D)                                852        712           577    (4) Depreciation                             45        42             38

 (2.2) Investment                                 0          0             0    (5) Dre/Prel Exp Written Off                  0         0              0

 (2.3) Current Assets, Loan &                                                   (6) Profit Before Int., Taxes & Ep
                                                                                                                            -918      -858          -799
 Advances                                                                           (PBITEP) (3-4-5)
 (A) Inventories                                919        784           655    (7) Interest
 (B) Sundry Debtors                             260        364           466    (A) On Central Government Loans               0         0              0
 (C) Cash & Bank Balances                       493        763         1210     (B) On Foreign Loans                          0         0              0
 (D) Other Current Assets                       114          5            12    (C) Others                                   71        63             62
 (E) Loan & Advances                            683        615         1045
                                                                                (D) Less Interest Capitalised                 0         0              0
 Total ‎(‎A‎)+ (‎B‎)+ (‎C‎)+ (‎D‎)+ (‎E‎)‎     2469       2531         3388
                                                                                (E) Charged to P & L Account
                                                                                                                             71        63             62
 (2.4) Less:current Liabilities &                                               (A+B+C-D)
 Provisions
                                                                                (8) Profit Before Tax & EP(PBTEP)
 (A) Current Liabilities                       3066       2175         2449                                                 -989      -921          -861
                                                                                 (6-7E)
 (B) Provisions                                 940        822           734    (9) Tax Provisions                            0         0              2
 Total (A+B)                                   4006       2997         3183     (10) Net Profit / Loss Before EP (8-9)      -989      -921          -863
 (2.5) Net Current Assets (2.3-2.4)            -1537      -466           205
                                                                                (11) Net Extra-Ord. Items                    10        -13             0
 (2.6) Deferred Revenue / Pre.
                                                  0          0             0    (12) Net Profit / Loss(-) (10-11)           -999      -908          -863
 Expenditure
 (2.7) Deferred Tax Asset                         0          0             0    (13) Dividend Declared                        0         0              0

 (2.8) Profit & Loss Account(Dr)               2533       1534           625    (14) Dividend Tax                             0         0              0
 Total (2.1+2.2+2.5+2.6+2.7+2.8)               1848       1780         1407     (15) Retained Profit (12-13-14)             -999      -908          -863



 Important Indicators                        2010-11   2009-10      2008-09     Financial Ratios                         2010-11   2009-10      2008-09
 (i) Investment                                 907        907           907    (i) Sales : Capital Employed             -546.86   1208.51       167.71
 (ii) Capital Employed                          -685       235           737
                                                                                (ii) Cost of Sales : Sales                127.71    135.67       202.43
 (iii) Net Worth                               -1626      -627           282
                                                                                (iii) Salary / Wages : Sales               34.57     41.09         86.33
 (iv) Cost of Production                       4682      3921          2662
                                                                                (iv) Net Profit : Net Worth                    -         -       -306.03
 (v) Cost of Sales                             4784      3853          2502
                                                                                (v) Debt : Equity                           1.04      0.96          0.55
 (vi) Gross Value Added
  (At Market Price)
                                                   -         -              -
                                                                                (vi) Current Ratio                          0.62      0.84          1.06
 (vii) Total Employees (Other Than                                              (vii) Sundry Debtors : Sales
                                                860        882           897                                               25.33     46.78       137.61
  Casuals) (Nos.)                                                               (No. of Days)
 (viii) Avg. Monthly Emoluments Per
                                              12548      11026         9913     (viii) Total Inventory : Sales             89.54    100.76       193.43
  Employee (Rs.)

2010-11 PROVISIONAL

Public Enterprises Survey 2010-2011: Vol-II                                                                                                    185

				
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