HEC targets net sale of Rs 450 crores in next fiscal

Ranchi, Jan 01 (UNI) Jharkhand's Heavy Engineering Corporation (HEC) chairman cum managing director Subhendu Vishwas here today said the company targets a net sale of Rs 450 crores in the next fiscal, 2007-08.

He said the company had been able to earn profit after a period of 16 years in the current fiscal, the last being Rs 13 crores in 1989.

Mr Vishwas told newsmen that net sales presented before the Board for Reconstruction of Public Sector Enterprises (BRPSE) reconstruction package was Rs 300 crores for this fiscal but in actual it was Rs 324.22 crores.

He said the company has gained profit of about Rs 7.21 crores in last three quarters of the present fiscal despite limited human resources.

He said about 15 employees were being retired every month and the number would increase to 25 from this month, despite this the company had orders of Rs 750 crores from Northern Coal Fields and Neelanchal Ispat.

The company, which prepares heavy machinery for private and public sector, had also supplied equipment to Indian Institute of Space Research Organisation (ISRO).

UNI