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BHEL pays 90% Interim Dividend for fiscal 2007-08
New Delhi, March 21, 2008
| Bharat Heavy Electricals Limited (BHEL)
has paid an interim dividend of 90% on the enhanced equity
capital post-bonus, for fiscal 2007-08, maintaining its
track record of paying dividends uninterruptedly for the
last 32 years.
A cheque of Rs.298 Crore for the payment of the interim
dividend |
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for the year on the equity (67.72%) held by the
Government of India, was
presented here today to Sontosh Mohan Dev, Hon'ble
Union Minister for Heavy
Industries and Public Enterprises by K Ravi Kumar,
Chairman and Managing
Director, BHEL.
Senior officials of the Department of Heavy Industries &
Public Enterprises and BHEL were also present on this
occasion.
The growth momentum achieved by BHEL in 2006-07 is likely to
be maintained in the current fiscal also. The company has
recorded significant growth in its profitability parameters in
the first nine months of 2007-08, with its Net Profit at
Rs.1,749 Crore, surging more than 38% over the corresponding
period in the previous year. With an
order book position of Rs.78,000 Crore, at the end of the
third quarter, the company expects to achieve robust growth in
2007-08 and beyond.
BHEL has drawn up a 'Strategic Plan 2012' to ensure
sustainable profitable growth over the next five years with
the objective of reaching a turnover level of Rs.45,000 Crore
by 2011-12. Expansion of activities in the market segments
that BHEL operates in is the core element that will drive its
growth strategy in future. The growth
planks for the company over the next five years 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 &
services
businesses. The implementation of the Plan is being taken up
with full vigour.
BHEL is building Capacity and Capability to contribute fully
for meeting the 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 in the next two years.
Having demonstrated its track record in successfully
establishing new technologies to serve the nation's power
sector, BHEL has equipped itself to produce thermal power
equipment for 800MW sets with supercritical parameters, suited
to Indian conditions, using Indian as well as imported coal.
In addition, the company is shoring up its
capability for higher rating Hydro sets and advanced class Gas
Turbines to cater to upcoming market requirements.
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