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BHEL pays Rs. 298 crore dividend

— PHOTO: R. V. MOORTHY

REWARDING THE SHAREHOLDER: K. Ravi Kumar (right), Chairman and Managing Director, BHEL, presenting the dividend cheque for Rs. 298 crore to Santosh Mohan Deb, Minister for Heavy Industries and Public Enterprises, in New Delhi on Friday.

NEW DELHI: Bharat Heavy Electricals Limited (BHEL) on Friday paid an interim dividend of Rs. 298 crore to the Government for 2007-08.

The company paid a total interim dividend of Rs. 441 crore, which is 90 per cent of its enhanced equity capital post-bonus, to its shareholders during 2007-08, K. Ravi Kumar, Chairman and Managing Director, told newsmen after presenting the cheque.

The cheque for Rs. 298 crore was handed over to the Heavy Industries Minister, Santosh Mohan Deb, in his office. The Union Government owns 67.72 per cent equity in the firm.

BHEL recorded a net profit of Rs. 1,749 crore in the first nine months of 2007-08, a 38 per cent growth over the corresponding period in the previous year.

The company enhanced its capacity to 10,000 MW and aims to further augment it to 15,000 MW by December 2012.

The company has drawn up a ‘Strategic Plan 2012’ to ensure sustainable profitable growth over the next five years with the objective of reaching a turnover of Rs. 45,000 crore by 2011-12. The growth planks for the company over the next five years will be driven by “capacity and capability enhancement” that will leverage BHEL’s efforts in its core area of power supported by industry, transportation, transmission, exports and spares and services businesses.

BHEL has also equipped itself to produce thermal power equipment for 800 MW sets with supercritical parameters suited to Indian conditions, using Indian and imported coal. In addition, the company is shoring up its capability for higher rating hydro sets and advanced class gas turbines to cater to upcoming market requirements.

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