BHEL Bangalore units report 10.3% decline in turnover

Bangalore-based divisions of Bharat Heavy Electricals Limited (BHEL) have reported 10.35 per cent decline in turnover at Rs 3,360 crore for the year-ended March 31, 2013. The three divisions - electronics division, industrial system group and ceramic business unit - of BHEL had reported a turnover of Rs 3,748 crore for the year 2011-12. The divisions received orders worth Rs 3,390 crore, while the total outstanding orders stood at Rs 7,975 crore. The export turnover stood at Rs 1,062 crore. "Highly sluggish and competitive market resulted in the slow conversion of orders during the last fiscal. The power equipment industry has seen several delays in large projects in the last two years. Delays in regulatory approvals has hurt the business," K C Ramamurthy, executive director (EDN), said. The Electronics Division (EDN) of BHEL recorded a 26 per cent decline in turnover for 2012-13 at Rs 1,708 crore while its profit before tax dipped 62.5 per cent to Rs 312 crore as against Rs 832 crore in the previous year. Its order book went up 46.28 per cent to Rs 1,318 crore taking the total outstanding orders to Rs 3,805 crore. more at: http://www.business-standard.com/article/companies/bhel-bangalore-units-report-10-3-decline-in-turnover-113041000625_1.html