Bharat Heavy Electricals (BHEL) today said it has recorded nearly 14 per cent growth in its intellectual capital in FY17.
"During the year (2016-17), a record 508 patents and copyrights were filed by the company, translating into filing of nearly two patents/copyrights every working day," BHEL said in a statement.
With this, the company's intellectual capital has gone up to 3,915 patents and copyrights filed, which are in productive use in the company's business.
During this period, BHEL invested Rs 794 crore on R&D initiatives, which was 2.75 per cent of its turnover. Significantly, with its innovation-led growth strategy, the company continues to rank among the country's highest R&D spenders in the engineering and manufacturing segment.
Commercialisation of products and systems developed by way of in-house research and development contributed around 21 per cent to the company's total turnover of Rs 28,840 crore in 2016-17.
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