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BHEL declared India’s Largest & Most Profitable

Construction Equipment Company

New Delhi, October 29, 2004

New Delhi, October 29: Engineering major Bharat Heavy Electricals Limited (BHEL) has been ranked as the ‘largest and most profitable construction equipment company’, among public & private sector enterprises in the country.

Instituted jointly by Construction World and the National Institute of Construction Management and Research (NICMAR), the topmost award has been awarded to BHEL, in the above category. Carrying a shield and a citation, the award was presented by Dr. P.S. Rana, CMD, HUDCO to Mr. R.K. Sugandhi, General Manager, BHEL.

The award has been conferred on BHEL by an independent panel of experts on the basis of growth in revenue and profit over a five year period, from 1998-99 to 2002-03. Although growth was identified as a benchmark for progress, the company has also been honoured for its practices, processes, performance excellence and capability.

During this period, the operations of the company saw a substantial increase in productivity related parameters like value added per employee and Turnover per employee. In this period, BHEL focussed on areas of materials cost reduction through design & engineering optimisation, value engineering, technology upgradation, better project management, quality improvement, right sizing of manpower and upgrading HRM systems.

Even in the last fiscal (2003-04), BHEL completed yet another successful year, with an all-time high topline at Rs.8,662 Crore, up by a healthy 15.8%, and its Profit After Tax (PAT) at Rs.658 Crore surging 48%, compared to the previous fiscal. The company maintained its track record of earning profits for over three decades without a break, with its Profit Before Tax (PBT) vaulting past the Rs.1,000 Crore mark at Rs.1,015 Crore and its Earnings Per Share (EPS) growing 48% at Rs.26.89.

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