BHEL net up 37%, bags ICWAI award again

Bharat Heavy Electricals Limited (BHEL) has been conferred the maximum number of ‘ICWAI National Awards for Excellence in Cost Management’, among public and private sector companies. Significantly, the company has won seven of these prestigious awards for 2009.


BHEL, in a statement, said that it has been awarded the recognition for the fifth successive year, having earlier won the awards for the years 2005, 2006, 2007 and 2008.

The company achieved a significant growth of 21 per cent in its turnover at Rs 34,154 crore and recorded an all-time high net profit (PAT) of Rs 4,311 crore, as against Rs 3,138 crore in the year before - a growth of 37 per cent. The best cost management practices across the company enabled BHEL to reduce the material cost by 2.8 per cent in 2009-10.

With a highest-ever order book position of over Rs 1,44,000 crore, at the end of the fiscal, the company expects to achieve robust growth in 2010-11 and beyond. A final equity dividend of 123 per cent has been declared in addition to the interim equity dividend of 110 per cent paid earlier for fiscal 2009-10, maintaining the track record of paying dividends uninterruptedly since 1976-77.

BHEL has maintained its track record of earning profits uninterruptedly for over three decades without a break.

The company has established the capability to deliver 15,000 MW per annum and further augmentation to 20,000 MW per annum is underway.

ref:
http://expressbuzz.com/finance/bhel-net-up-37-bags-icwai-award-again/188462.html