BHEL profit up 42 pc, declares 125 pc dividend

By Staff
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Google Oneindia News

New Delhi, Apr 3: Bharat Heavy Electricals Limited (BHEL) earned a net profit of Rs 2,385 crore during 2006-07, up 42 per cent over the previous fiscal, and has declared 125 per cent interim dividend for the period, company's CMD A K Puri announced today.

The recommendation for 125 per cent dividend was made at the meeting of the Board of Directors this morning, Mr Puri told an annual press conference.

He said the company's turnover was 18,702 crore during 2006-07, compared to 14,525 crore during the previous fiscal when the profit was Rs 1,679 crore.

He said the company had fixed the target of taking the annual turnover from the present four billion dollars to 10 billion dollars by 2011-12.

Record orders inflows in all areas have led to an all time high order booking of Rs 35,833 crore. The yearend outstanding order book stood at Rs 55,000 crore.

In the power sector business segment, BHEL secured orders worth Rs 27,722 crore during the year, crossing the Rs 20,000 crore mark for the first time.

In the industry sector, BHEL secured the highest-ever orders worth Rs 6,008 crore, while in the international business, it bagged physical export orders of Rs 1,903 crore compared to an average yearly order book of Rs 1,275 crore of the past five years.

The company spent Rs 238.5 crore on R and D during the year, nearly 58 per cent higher than the previous year.

In fact, the R and D spent has doubled in two years and the turnover of Rs 2,510 crore achieved through products and systems developed in-house tribled in two years.

Mr Puri said the company had embarked on an ambitious strategy of enhancing its manufacturing capacity to 15,000 MW per annum in the XI Plan with a total investment of Rs 3,200 crore.


UNI

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