Dr Manmohan Singh prime minister of India presented the ‘SCOPE Award for Excellence and Outstanding Contribution to Public Sector Management to Mr BP Rao CMD of Bharat Heavy Electricals Limited.
The prestigious recognition has been conferred on BHEL in the Large Scale PSE’category for the year 2008-09. The commendation was bestowed on the company at a ceremony, jointly organised by the Department of Public Enterprises and SCOPE.
In fiscal 2009-10, BHEL further built on the growth momentum achieved in the year before, with a top line growth of 22% and an all time high Turnover of INR 34,154 crore. The company also recorded a quantum jump of 37% in its Net Profit which was also the highest ever at INR 4,311 crore. Significantly, BHEL’s turnover has increased by three times and net profit by four times in the last five years.
BHEL recorded a 33% surge in Economic Value Addition which went up to INR 2,670 crore from INR 2,008 crore in the year before. A total dividend of INR 1,141 crore the highest ever, was paid for 2009-10, which is 233% of the paid up capital (including an interim dividend of 110%) as against 170% paid for 2008-09. With this BHEL has maintained it track record of earning profits uninterruptedly since the last four decades and paying dividends without a break for the last over three decades.
The company secured orders worth INR 59,037 crore despite operating under intense competitive pressure in domestic and international markets. In 2009-10, the company secured its highest ever orders from the private sector in the utility segment reflecting the confidence reposed by private sector customers. Out of the total orders of 16,489 MW received by BHEL for power plant equipment during the year, orders received from private power utilities alone accounted for 14,689 MW constituting nearly 90% of the total orders booked in the power sector. With an order book position of nearly INR 160,000 crore the highest ever both in physical as well as financial terms, as on date, the company expects to achieve robust growth in 2010-11 and beyond.
BHEL has been committed to the nation’s power development program and has reaffirmed its commitment to the Indian Power Sector by equipping itself for the future, by way of contemporary technology, state of the art manufacturing facilities and skilled technical manpower to meet the country’s power forecast in the future.
The company has established the capability to deliver 15,000 MW per annum and further augmentation to 20,000 MW per annum is underway. In fiscal 2009-10, a record 74% of the total power generated in the country was contributed by BHEL sets, which comprise two-thirds of the country’s installed capacity.
BHEL has also carved a niche for itself in the global market having marked its presence in all the six continents of the world and its technical competence has earned worldwide acclaim. The company is India's industrial ambassador to the world, having supplied products, services and projects to more than 70 countries, from the United States in the West to New Zealand in the Far East.
