BEML gains turnover of Rs 3005 cr for 2007-08

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Bangalore, Apr 2: The public sector BEML Limited has achieved an all-time high sales of Rs 3005 crore, a growth of 15.5 per cent over the last year and posted highest ever profit before tax of Rs 350 crores at the end of its financial closure on March 31.

Announcing the company's financial performance for 2007-08, Chairman and Managing Director, BEML V R S Natarajan, said heretoday that compamy lookeds forward to a robust growth in the coming year with an order book for Rs 3795 crores for 2008-09. Dwelling upon the fiscal performance for the last year, Mr Natarajan said that the BEML having its manufacturing plants at Kolar Gold Fields, Bangalore, Mysore and a subsidiary steel foundry at Tarikere had registered a growth of over 11 per cent in terms PBT of Rs 350 crore for 2007-08.

He said that BEML which was engaged in Mining and Construction, Defence, Metro and Railway, Technology, Trading and International Business had crossed Rs 3000 crore business milestone while making a capital investment of over Rs 412 crore during the year. Outlining the business performances of each business division, Mr Natarajan said that the Mining and Construction Business Group of the company had produced 1275 equipment as against 911 last year.

Its sales saw a growth of 10 per cent of Rs 1797.53 crores compared to Rs 1638.68 crores in the corresponding period in previous year. Mining and Construction business has secured the single largest order from NCL valued at Rs 638 crores for supply of 3 20 Cu m Mining shovels for the first time in India along with a long term maintenance and Repair contract for 17 years with guaranteed availability.

In the domestic market, M&C expanded its dealer network to 21 active dealers throughout the country and booked sale of 717 equipment comprising 10 different models, valued Rs 275 crores compared to 334 equipment valued Rs 138 crores during 2006-07 an increase of over 100 per cent, he said.

On the export's front BEML has achieved a sales of Rs 257.72 crores compared to Rs 110 crores in the previous year with a growth rate of over 132 per cent compared to previous year, he said.

UNI

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