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BHEL records 50 percent surge in net profits
Tuesday, 01 October 2002, 19:30 IST
NEW DELHI: India's engineering major Bharat Heavy Electricals Ltd (BHEL) has recorded a 50 percent surge in net profits touching 
4.68 billion in the 2001-02 fiscal.
The annual turnover of the company has risen 14 percent to 72.87 billion.
"BHEL has once again outperformed the industry in spite of the continued economic slowdown in the country, delay/deferment of projects in our business areas, severe demand contraction in the industry sector and negative trend in the capital goods industry," K.G. Ramachandran, chairman and managing director of BHEL, said here Monday at the 38th annual general meeting of the company.
A major highlight of 2001-02 fiscal, which ended March 31, was the jump in exports to 9.87 billion, which is 13.5 percent of the state-owned company's sales turnover.
The notable forays overseas were into the Chinese and Kazakhstan markets with orders for gas turbine generating equipments. Other export orders included four gas turbine generating units from Iraq and a steam turbine generator from Sri Lanka.
BHEL also bagged orders from Germany, Greece, Britain, the U.S., the United Arab Emirates, Azerbaijan, Syria, Malaysia, Malta, Libya, Poland and Taiwan.
The company had secured the highest ever orders worth 98.55 billion last year, besides 8 billion worth exports orders.
"With a cumulative order book position of over 125 billion, the company expects to achieve a healthy top and bottom line growth in 2002-03 and beyond," Ramachandran said.
BHEL-built equipment accounted for a record 74 percent of power generation in India during 2001-02.
Source: IANS
4.68 billion in the 2001-02 fiscal.
The annual turnover of the company has risen 14 percent to 72.87 billion.
"BHEL has once again outperformed the industry in spite of the continued economic slowdown in the country, delay/deferment of projects in our business areas, severe demand contraction in the industry sector and negative trend in the capital goods industry," K.G. Ramachandran, chairman and managing director of BHEL, said here Monday at the 38th annual general meeting of the company.
A major highlight of 2001-02 fiscal, which ended March 31, was the jump in exports to 9.87 billion, which is 13.5 percent of the state-owned company's sales turnover.
The notable forays overseas were into the Chinese and Kazakhstan markets with orders for gas turbine generating equipments. Other export orders included four gas turbine generating units from Iraq and a steam turbine generator from Sri Lanka.
BHEL also bagged orders from Germany, Greece, Britain, the U.S., the United Arab Emirates, Azerbaijan, Syria, Malaysia, Malta, Libya, Poland and Taiwan.
The company had secured the highest ever orders worth 98.55 billion last year, besides 8 billion worth exports orders.
"With a cumulative order book position of over 125 billion, the company expects to achieve a healthy top and bottom line growth in 2002-03 and beyond," Ramachandran said.
BHEL-built equipment accounted for a record 74 percent of power generation in India during 2001-02.
Source: IANS