City-based central PSU Bengal Chemicals and Pharmaceuticals Limited (BCPL) has received excellent corporate governance rating from the Department of Public Enterprises for three years in a row, the oldest pharma company in the country said Tuesday.
Out of 13 PSUs which falls under the Department of Pharmaceuticals, BCPL is the only one which has been awarded the Excellent Corporate Governance Rating for the year 2017-18, it said.
The company received excellent rating during 2015-16, 2016-17 and 2017-18.
The company said in a statement thet under the stewardship of PM Chandraiah, director (finance) holding additional charge of managing director, performance has improved from poor corporate governance rating in 2013-14 to excellent from 2015-16 onwards.
In 2016-17, the company reported a net profit of Rs 4.51 crore while it rose to Rs 10.06 crore in 2017-18.
The company estimates a turnover of Rs 105 crore in 2018-19, with net profit in the Rs 15-20 crore range.
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