Braithwaite was established in 1913 in Calcutta. With the decision to nationalize it in 1986, the company came under the control of the central government from private ownership. It is currently under the administrative control of the Ministry of Railways. These companies mainly include construction of railway rolling stock, repair of old rolling stock, retro fitting, manufacture of sub assembly of wagon components, construction of railway workshops and OM, civil service and structural steel bridges.
According to a press release issued by the company at a press conference at the Taj Bengal Hotel in Kolkata, the financial turnover of the company was between Rs 120 crore and Rs 150 crore from 2014 to 2016. At that time the market debt was 26 crore rupees. The companies that supplied the raw materials owed Rs 50 crore. It was very difficult to pay the workers with a debt of Rs 76 crore and a monthly interest of Rs 30 lakh.
Jyotish Kumar then joined the company as chairman and managing director. As soon as he took charge, he held meetings with raw material suppliers and labor organizations. He wants everyone's help to turn from the negative situation. With the hiring of new engineers, retired employees of the company are also involved in this work. With the efforts and cooperation of all, this ailing organization started to see the face of success after going through difficult times.
According to the data provided by the agency, Braithwaite had a turnover of Tk 47.41 crore in the 2021-22 financial year till December 2021 and a turnover of Tk 800 crore, an increase of 15 per cent over the previous financial year. It has been possible to pay the dues of all at the right time. It is also worth mentioning that they have received a large amount of interest from the bank by making a fixed deposit in the surplus fund bank.
In 2019, the central government acquired 50 crore equity shares of the company. In a letter dated January 11 of the new year, the central government awarded Braithwaite & Company Limited a status 1 in the gemstone category as a reward for its performance. Braithwaite's success has set a new precedent at a time when various government agencies or government-controlled entities are constantly sinking into losses, and at the same time the Kolkata-based company has brightened the face of Bengal.
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