Being a modern and well-equipped foundry and holding major market share of the tractor and automotive castings BCL can claims to be No 1 foundry of its kind in Pakistan.
Bolan Castings Limited (BCL) was incorporated in July 1982 as a public limited company in the province of Balochistan by Pakistan Automobile Corporation (PARCO) under the administrative control of Ministry of Production, Govt of Pakistan. The plant was commissioned in June 1986 with the assistance of Foundry Management and Design Company (FMD) UK. The plant is located at about 40 kms from Karachi on the main RCD Highway, Hub Chowki, Balochistan.
BCL was privatised and handed over to a group of management under a joint collaboration of Millat Tractors Ltd and the employees of Bolan Castings Limited on June 13, 1993. BCL foundry was first of its kind to obtain ISO-9002 certificate in April 1999. The company has now achieved ISO 9001-2000 version of Quality Management System.
In the field of exports its regular shipments of tractors components started abroad with an increasing pace to European and Turkish markets.
The plant is designed to produce 6000 tonnes of tractors and automotive casings in grey and ductile iron like engine blocks, cylinder heads, gear boxes, axle housings, hubs and brake drums.
BCL expansion programme is also underway to meet the growing demand.
During 9M 2004-05, the period under review, the company posted sales revenue at Rs 474.9 million registering 24% increase as compared to the figures of the same period last year.
The gross profit upto nine months period under review amounted to Rs 38.31 million (9M 2003-04: Rs 91.49 million) marking 58.1% decrease due to increase in raw material prices which fuelled the cost increase resulting decline in profitability. Profit after taxation went down by 64% to Rs 18.26 million (9M 2003-04: Rs 49.86 million).
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Performance Statistics (Million Rupees)
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Balance Sheet -As At-
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March 31 June 30
2005 2004
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Share Capital-Paid-Up: 55.25 55.25
Reserves & Profit: 213.55 222.98
Shareholders Equity: 268.80 278.23
Unrealised Gain: 2.96 3.00
Deferred Liabilities: 10.86 10.35
Current Liabilities: 70.99 41.50
Tangible Fixed Assets: 87.22 87.18
L.T. Investments: 8.46 8.50
L.T. Loans: 0.57 0.51
L.T. Deposits: 1.34 1.34
Deferred Taxation: 4.14 4.13
Current Assets: 251.88 221.42
Total Assets: 353.61 333.08
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Profit & Loss A/c for the Nine Months Ended
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March 31 2005 2004
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Sales-Net: 474.88 383.22
Gross Profit: 38.31 91.49
Operating Profit: 25.60 75.90
Other Income: 1.38 1.291
Financial (Cost): (0.82) (0.49)
Profit Before Taxation: 26.16 76.70
Profit After Taxation: 18.20 49.86
Earnings Per Share (Rs): 3.29 9.02
Share Price (Rs) On 04-07-05: 68.00 -
Price/Earnings Ratio: 20.67 -
Book Value of Share (Rs): 48.65 50.36
Debt/Equity Ratio: 0:100 0:100
Current Ratio: 3.55 5.33
Gross Profit Margin (%): 8.07 23.87
Net Profit Margin (%): 3.83 13.01
R.O.E. (%): 6.78 17.92
R.O.A. (%): 5.15 14.97
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