Making its headway towards indigenous technologies and localisation of material costs, engineering major Bharat Heavy Electricals (Bhel) has reported strong financial performance for the year ended March 2011, with a consolidated topline growth of more than 26%. The company's operating margins have improved by more than 250 basis points for the year.
The growth, however, includes accounting adjustments to the tune of about Rs 2,773 crore in net sales and about Rs 983 crore in the profit before tax in an attempt to align the company's accounting practices with those of IFRS. These adjustments, however, have no significant impact on operating margins.
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Moreover, given its order backlog of over Rs 1.64 lakh crore, which translates to over four times its consolidated revenue for the year (before accounting adjustment), Bhel is comfortably placed to meet its guidance of 20% revenue growth to Rs 50,000 crore in FY12.
more at:
http://articles.economictimes.indiatimes.com/2011-05-24/news/29577708_1_bharat-heavy-electricals-bhel-growth-targets
Wednesday, May 25, 2011
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