MAHARATNA BHEL CROSSES 50,000 CRORE TURNOVER MARK AND…
MAHARATNA BHEL CROSSES 50,000 CRORE TURNOVER MARK AND ACHIEVEMENT OF HIGHEST ADDITION OF 10,340 MW to INDIA’S ELECTRICITY GENERATION CAPACITY
New Delhi : Fiscal 2012-13 has been a defining year for Bharat Heavy Electricals Limited (BHEL) as it has become a ‘Maharatna’ company, crossed the Rs.50,000 Crore turnover mark and achieved the highest ever addition of 10,340 MW to India’s electricity generation capacity.
While navigating through one of the most difficult economic and business environment of our times, every effort is being made to protect the interests of shareholders and enhance their wealth. This was stated by B. Prasada Rao, Chairman & Managing Director, BHEL at the 49th Annual General Meeting of the company, here today.
Addressing shareholders, Mr. Rao said that BHEL recorded an all time high turnover of Rs. 50,156 Crore and a Net Profit of Rs 6,615 Crore. On the back of strong focus on manufacturing efficiencies, BHEL was able to maintain the level of previous five years (2007-12) average profit margins of 14% which is one of the highest among peer group companies. Consequently, a total dividend of Rs.1323 Crore, has been declared for 2012-13, which is 270.5% of the paid-up capital (including an interim dividend of 164.5%), maintaining a track record of paying dividends uninterruptedly since 1976-77.
In recognition of the consistent high performance over a longer period of time, the company has been bestowed with the coveted ‘Maharatna’ status by Govt. of India, resulting in further empowerment of the Board for greater business agility, he added.
