BHEL pays all-time high 145 pc dividend

New Delhi, Oct 23: Bharat Heavy electricals Ltd (BHEL) today said it has paid the highest ever equity dividend of 145 per cent for fiscal 2005-06 as against 80 per cent, in the year before.

With this, BHEL has made a total dividend payout of Rs 240.34 crore for the year 2005-06, to the Government of India.

A cheque for the payment of the final dividend for the year, on equity (67.72 per cent) held by the Government of India was presented to Minister of Heavy Industries and Public Enterprises Santosh Mohan Deb and BHEL CMD Ashok K Puri here.

During the year 2005-06, BHEL recorded an all-time high turnover of Rs 14,525 crore, making a growth of about 41 per cent on 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 and in the same period, net profit soared over 76 per cent to Rs 1,679 crore.

In line with this vision, 'committed to enhancing stakeholder value', BHEL recorded a surge in Economic Value Addition (EVA) which catapulted to Rs 1,079 crore from Rs 504 crore for the year before.

BHEL is building capacity and capability for the future to contribute fully for meeting the power forecast for the 11th Plan beyond. For this, the company is investing more than Rs 1,600 crore for holistic modernisation and capacity expansion of its facilities from 6,000 MW per annum at present to 10,000 MW per annum, which will be available in 2007.

It has already taken necessary steps to cater to the likely demand for the next higher rating 800 MW Thermal sets and is looking at Ultra Mega projects with various project developers. In addtion, the company is shoring up its capability for higher rating hydro sets and advanced class Gas Turbines to cater to upcoming market requirements.

UNI