Government gives in-principle approval for strategic disinvestment of BEML Ltd to the extent of 26% of Government shareholding

The Government has given 'in-principle' approval for strategic disinvestment of BEML Ltd to the extent of 26% of Government shareholding with transfer of management control to strategic buyer. Transaction Advisor, Legal Advisor and Asset Valuer have been appointed by the Government as per the procedure and mechanism laid down for this purpose. After completion of the process, specific approval of Government will be sought again. The amount to be mobilised through the sale of Government Equities in BEML can be known only after completion of the process.

The details are given below:-

Breakup of extent of land and other assets of BEML Ltd as on 31.03.2017:

Particulars

Gross carrying value

(Rs. in Crore)

Accumulated Depreciation

Net carrying value

(i)LAND (total 4191.56 acres)

12.86

-

12.86

(ii)OTHER ASSETS

Buildings

151.35

14.65

136.70

Plant and Equipment

272.41

43.38

229.03

Furniture and Fixtures

4.74

2.08

2.67

Vehicles Given on lease Own use

4.26

1.06

3.20

Office Equipment

2.27

1.16

1.11

Road and Drains

15.33

6.12

9.21

Water Supply Installations

2.38

0.09

2.29

Railway Sidings

8.69

1.99

6.70

Electrical Installation

18.06

4.36

13.70

Jigs and Fixtures

15.63

6.28

9.34

Special Tools

10.22

5.25

4.97

Computers and Data processing units

10.00

7.12

2.88

Total

613.86

95.42

518.44

The details are given below:-

Details of Profits made, Dividend and taxes paid to the Government during the last ten years:

(Rs. In Crore)

Year

Profit After Tax (PAT)

Dividend

Contribution to exchequer (taxes)

2007-08

225.65

27.00

595.63

2008-09

268.84

27.00

580.34

2009-10

222.85

22.50

688.25

2010-11

149.76

22.50

657.92

2011-12

57.25

11.25

682.58

2012-13

(79.87)

5.63

628.76

2013-14

4.68

2.25

653.67

2014-15

6.76

2.25

557.65

2015-16

53.15

9.00

671.63

2016-17

72.55

18.00

693.46

Powered by Capital Market - Live News