BHEL achieves profit of Rs 3,461 crore

Despite an extremely volatile market conditions, Bharat Heavy Electricals Limited (BHEL) has achieved a turnover of Rs40,338 crore and a net profit of Rs3,461 crore during 2013-14, said B. Prasada Rao, the company’s chairman and managing director.Addressing shareholders at the company’s 50th AGM, Mr Rao said that BHEL has synchronised or commissioned all time high power projects of 13,452 MW the highest in a single year during the last fiscal year. This includes commissioning of 11,266 MW in utilities comprising nine 600 MW sets, 1,698 MW in captive or industrial sets, and 488 MW in the overseas markets. The resilience of the company, he said, is evident from the fact that the company has posted a net profit margin of nine per cent, which is still higher than many industry peers. Mr Rao said that despite unfavourable externalities, BHEL secured orders worth Rs28,007 Crore from its diversified business segments such as power and Industry covering both domestic and international markets. Despite severe market shrinkage and stiff competition in the power sector, he emphasised that BHEL has increased its market share from 68 per cent in 2012-13 to 72 per cent in 2013-14 which includes the highest ever mega EPC order worth Rs 7,900 crore for 3 X 660 MW supercritical units from NTPC for North Karanpura. At the end of the year total orders in hand for execution in 2014-15 and beyond, stand at Rs1,01,566 crore. more at: http://www.deccanchronicle.com/140922/business-latest/article/bhel-achieves-profit-rs-3461-crore