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 BHEL pays all-time high 145% dividend for fiscal 2005-06

New Delhi October 23, 2006

Bharat Heavy Electricals Limited (BHEL) has paid the highest ever equity dividend of 145% for fiscal 2005-06 as against 80%, in the year before, maintaining its track record of paying dividends uninterruptedly for the last 30 years.

A cheque for the payment of the final dividend for the year, on the equity (67.72%) held by the Government of India, was presented here to Sontosh Mohan Dev, Hon’ble Union Minister for Heavy Industries & Public Enterprises by Ashok K. Puri, CMD, BHEL in New Delhi. With this, BHEL has made a total dividend payout of Rs.240.34 Crore for the year 2005-06, to the Government of India.

Sontosh Mohan Dev, Union Minister for Heavy Industries Public Enterprises Receiving BHEL’s final dividend cheque for 2005-06, from Ashok K. Puri, CMD, BHEL

Senior officials of the Department of Heavy Industries & Public Enterprises and BHEL were also present on this occasion.

During the year 2005-06, BHEL recorded an all-time high turnover of Rs.14,525 Crore, notching a growth of nearly 41% on top of 19% and 16% top line growth achieved in 2004-05 and 2003-04, respectively. This is also the highest year-on-year growth in the last three decades. In the same period, net profit soared over 76% to Rs.1, 679 Crore.

Significantly, in line with its vision - ‘committed to enhancing stakeholder value‘, BHEL recorded a surge in Economic Value Addition (EVA), which catapulted to Rs.1,079 Crore from Rs.504 Crore for the year before.

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