State-owned power equipment-maker BHEL today said it secured orders worth Rs 59,037 crore from domestic and international clients in the financial year ended March, 2010, of which about 90 per cent came from the private sector.
Out of the total orders received by BHEL during the year for power plant equipment with a cumulative generation capacity of 16,489 MW, orders received from private power utilities alone accounted for 14,689 MW, it said.
The current order book of the company stands at Rs 1,44,000 crore.
The company recorded a jump of 37 per cent in profit-after-tax (PAT) to a record Rs 4,311 crore for the fiscal ended March, 2010.
The company's focus on expansion of activities in the transportation, transmission, defence, oil & gas and other industry sectors, in addition to its core area of power, was responsible for its success during the year, it added.
During the year, the company bagged its biggest-ever contract for establishment of a captive power plant for Indian Oil Corp and also garnered major repeat orders from Hindalco for a 6x150 MW BTG package, besides the single largest order for supply of 150 units of 5,000 HP 25 kV AC mainline electric locomotives to the Indian Railways.
BHEL plans to increase expenditure on research and development (R&D) to at least Rs 1,200 crore by 2011-12, the statement added.
BHEL is actively participating in the domestic market through joint ventures with state generation companies. BHEL and Maharashtra State Power Generation Company Ltd have signed a MoU for setting up a JV company to build, own and operate a 1,500-1,600 MW power plant at Latur, in Maharashtra.
Similarly, BHEL and Madhya Pradesh Power Generation Company Ltd have formed a JV to build, own and operate a 2x800-MW supercritical thermal power plant at Khandwa, in Madhya Pradesh.
Furthermore, BHEL and Toshiba Corporation of Japan have signed a Memorandum of Understanding (MoU) to explore the possibility of establishing a transmission and distribution joint venture company to target business in India and other mutually agreed countries.
The company has also signed a MoU with Alstom for participating in a tender for setting up a factory for electric locomotive components at Dankuni, West Bengal, and with GE for participating in a tender for setting up a diesel locomotive factory at Marhowra, in Bihar, it said.
At present, BHEL has the capacity to manufacture power equipment with a cumulative generation capacity of 15,000 MW per annum, which the company plans to scale up to 20,000 MW by the end of the 2010-11 financial year.