BWL Limited (Formerly known as Bhilai Wires Ltd). Incorporated on June 22,1991 was promoted by Shri. H.P. Khetawat to set up a project for manufacture of various types of Steel Wires with an installed capacity of 24000 MT per annum at Industrial Area, Bhilai, Chattisgarh. The Steel Wire Division (SWD) commenced commercial production on August 8, 1973. The company has also created facilities to manufacture Hard wire fixture of Optical Fibre Cable. The company embarked upon a diversification project in 1993-94by setting up facilities for manufacture of Optic Fibre Cable (OFC) with an installed capacity of 9000 conductor KMs equivalent to 1,08,000 fibre Kms at Electronic Complex, Shoghi, Dist: Shimla, Himachal Pradesh at an outlay of Rs. 29.38 crores. The Optical Fibre cable Division (OFCD) Commenced commercial Production on July 1, 1995. The Company’s operations were generally satisfactory till 1996. After that the company’s operation suffered due to excess capacity and consequent fall in prices of OFC, decrease in the capacity utilization, degraded performance of SWD due to infavourable conditions in the steel sector. The company was declared sick under SICA by the Hon’ble BIFR during the year 2002based on the audited balance sheet of 2000. The company made one time settlement with the secured creditors and repaid their dues in full during the year 2009.The company has disposed off the entire fixed assets of Optical Fibre Cable Division to repay the secured creditors and meet the working capital requirement of steel wire division. The operation in steel wire division has been temporarily suspended from July, 2008.Now the whole time directors are exploring the possibilities by entering in to other product line /Diversification.
The company scheme of rehabilitation was pending approval of BIFR. However in view repeal of SICA and enactment of insolvency and bankruptcy code 2016, w.e.f 01.12.2016. the company is no longer eligible to apply NCLT for rehabilitation in view of new law as per code.