BHEL gets Scope meritorious award for research and development

Ms Pratibha Devisingh Patil president of India presented the ‘SCOPE Meritorious Award for R&D, Technology Development and Innovation’ to Mr BP Rao CMD of Bharat Heavy Electricals Limited.

The prestigious recognition has been conferred on BHEL for the year 2009-10. The commendation was bestowed on the company at the Public Sector Day celebration function, jointly organized by the Department of Public Enterprises and SCOPE.

Significantly, the recognition comes close on the heels of the ‘SCOPE Award for Excellence and Outstanding Contribution to Public Sector Management’ presented to BHEL by the Hon’ble Prime Minister of India, recently.

R&D and technology development are of strategic importance to the company as it operates in a competitive environment where technology is a major factor. As a result of constant thrust on developing new technologies and products, BHEL has recorded a 31% growth in its intellectual capital in FY 2010-11. During the year, 303 patents and copyrights were filed by the company, translating into filing of over one patent / copyright every working day. Similarly, during FY 2009-10, the company had filed 264 patents / copyrights.

With this, the company’s intellectual capital has gone upto 1,438 patents and copyrights filed, which are in productive use in the company’s business. Notably, BHEL has been ranked as the number one company in terms of filing patents in India by Economic Times Intelligence Group.

During fiscal 2010-11, BHEL invested an all-time high INR 10050 million on R&D efforts - 21% higher than the previous year. The company’s investment in R&D in FY 2009-10 was INR 8290 million. With an R&D spend at over 2.3% of its turnover; BHEL is the highest spender on R&D in India for its kind of industry. Commercialization of products and systems developed by way of in-house R&D contributed around 18% to the company’s total turnover of INR 434510 Million in 2010-11.


ref:
http://www.steelguru.com/indian_news/BHEL_gets_Scope_meritorious_award_for_research_and_development/200855.html