Bharat Heavy Electricals Limited (BHEL) has paid an interim dividend of 90% on the enhanced equity capital post-bonus, for fiscal 2008-09.
A cheque of Rs.298 Crore towards the interim dividend for the year 2008-09 on the equity (67.72%) held by the Government of India, was presented here today to Mr. Sontosh Mohan Dev, Hon’ble Union Minister for Heavy Industries and Public Enterprises by Mr. K. Ravi Kumar, Chairman and Managing Director, BHEL.
Senior officials of the Ministry of Heavy Industries & Public Enterprises and BHEL were also present on this occasion.
The growth momentum achieved by BHEL in 2007-08 is likely to be accelerated in the current fiscal. The company has recorded significant growth in its turnover and despite higher provisioning for the impending wage revision, maintained its profitability in the first nine months of 2008-09, as against the corresponding period in the previous year. With an order book position of Rs.1,13,500 Crore, at the end of the third quarter, the company expects to achieve robust growth in 2008-09 and beyond.
BHEL has been committed to the nation’s power development programme and has reaffirmed its commitment to the Indian Power Sector by equipping itself for the future, by way of technology, facilities and trained manpower to meet the country’s power forecast for the 11th Plan and beyond. For this, the company has already enhanced its manufacturing capacity to 10,000 MW per annum and is further augmenting it to 15,000 MW per annum by December, 2009 and to 20,000 MW per annum by December, 2011.
Spurred by the strong and consistent growth achieved in the last few years, BHEL has set its sights on becoming a Rs.45,000 Crore company by 2011-12. The company is implementing a ‘Strategic Plan 2012’ that will enable it to grow at a Compounded Annual Growth Rate of 20%.
Expansion of activities in the market segments, which BHEL operates in, is the core element that will drive its growth strategy in future to ensure sustainable profitable growth with the objective of reaching a turnover level of Rs.45,000 Crore. The growth planks for the company will be driven by ‘Capacity and Capability enhancement’ that will leverage BHEL’s efforts in its core area of power supported by industry, transportation, transmission, exports and spares and services businesses.
