THE BHARAT heavy Electricals Limited (BHEL) paid a dividend of Rs 240.34 crore to the Centre for the fiscal ended March 31. The company paid a final dividend of 145 per cent for the fiscal compared to 80 per cent in FY 2004-05, according to the BHEL.
This is the highest ever dividend paid by the company, the BHEL press release said. Chairman and Managing Director Ashok Puri presented the dividend cheque to Union Minister for Heavy Industries and Public Enterprises Sontosh Mohan Dev, the release added.
The company had reported a 41 per cent growth in its FY 2005-06 turnover at Rs 14,525 crore and a 76 per cent jump in its net profit at Rs 1,679 crore. The BHEL is planning to invest around
Rs 1,600 crore in modernisation and capacity expansion of its facilities. The expansion will take its overall capacity to 10,000 MW per annum from the current 6,000 MW per annum, the release said, adding the additional capacity would be available by 2007.
During 2005-06, the BHEL registered 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.
Significantly, in line with its vision - committed to enhancing stakeholder value, the BHEL recorded a surge in economic value addition (EVA), which catapulted to Rs 10,790 million from Rs 504 million for the year before.
The BHEL has already taken necessary steps to cater to the likely demand for the next higher rating 800 MW thermal sets and is actively looking at opportunities in ultra mega projects with various project developers.
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, the release added.