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Business EconomyPosted at: Sep 22 2017 3:10PM


BHEL achieves double digit growth

New Delhi,(UNI) Bharat Heavy Electricals Limited (BHEL) has achieved double digit growth in its topline and bounced back into profit in fiscal 2016-17, reversing the declining trend for the past three years.

The PSU did this in spite of fiscal 2016-17 being an extremely challenging year.
Addressing shareholders at the 53rd Annual General Meeting of the company here today, Atul Sobti, Chairman & Managing Director, BHEL, said during the year, BHEL recorded a turnover of Rs 28,840 crore, up 11 per cent over the previous year and a Profit Before Tax (PBT) of Rs 628 crore, compared to a loss of Rs 1164 crore (IND-AS restated) in the previous fiscal.


Net Profit (PAT) stood at Rs 496 crore, against a net loss of Rs 710 crore (IND-AS restated) in the previous year. Consequently, an interim equity dividend of 40 per cent has been paid for 2016-17, maintaining the track record of paying dividends uninterruptedly since 1976-77.


In addition, the company has recommended a final dividend of 39 per cent, subject to the approval of shareholders. With this, the total dividend for the year 2016-17 would stand at 79 per cent. The 2017 year marks the 25th year of BHEL being a public listed company.


Mr Sobti said enhanced focus on expeditious project execution has resulted in BHEL achieving a capacity addition of 45,274 MW during the 12th Five Year Plan period (2012-17), surpassing the target of 41,661 MW set by the government for BHEL, by 9 per cent.


With this, BHEL continues to remain the single largest contributor to the country’s power generation capacity addition.
UNI NAZ SW 1512
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