BHEL pays highest-ever dividend

New Delhi, Oct 20 (UNI) Bharat Heavy Electrical Limited (BHEL) presented a cheque for Rs 33.15 crore to Minister for Heavy Industries and Public Enterprises, Santosh Mohan Dev here today towards the final dividend payment for 2005-06.

With this, BHEL has made a total dividend pay out of Rs 240.34 crore for 2005-06 to the government. BHEL Chairman and Managing Director, A K Puri, presented the cheque in the presence of senior officials of BHEL and Ministry of Heavy Industries and Public Enterprises.

BHEL has paid the highest ever equity dividend of 145 per cent for 2005-06 as against 80 per cent in the previous year, maintaining its track record of paying dividends uninterruptedly for the last 30 years.

During 2005-06, BHEL recorded an all-time high turnover of Rs 14,525 crore, notching a growth of nearly 41 per cent on the top of 19 per cent and 16 per cent top line growth achieved in 2004-05 and 2003-04 respectively.

This is also the highest year-on-year growth in the last three decades. In the same period, net profit soared over 76 per cent to Rs.1,679 crore.

BHEL is building capability to contribute fully for meeting power forecast for the 11th Plan and beyond, company officials said.

The company is investing more than Rs.1,600 crore for modernisation and capacity expansion of its facilities from 6,000 MW per year at present to 10,000 MW per year, which will be available in 2007.

BHEL has already taken necessary steps to cater to the likely demand for the next higher rating 800 MW thermal sets.

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