core sector communique

BHEL Pays All-Time High 136% Interim Dividend for Fiscal 2011-12

Bharat Heavy Electricals Limited (BHEL) has declared an interim dividend of 136% on the enhanced equity capital post-bonus, for fiscal 2011-12 as against 132.5% paid in the year before. At Rs.665.75 Crore, this is the highest-ever interim dividend in perentage as well as value terms declared by the company so far. 

 With this, the company has maintained its impeccable track record of earning profits and rewarding investors by paying dividends uninterruptedly for over three decades without a break. 

 A cheque of Rs.450.85 Crore towards the interim dividend for the year 2011-12 on the equity (67.72%) held by the Government of India, was presented here today to Mr. Praful Patel, Union Minister for Heavy Industries and Public Enterprises by Mr. B.P. Rao, Chairman and Managing Director, BHEL, in the presence of Mr. S. Sundareshan, Secretary, Department of Heavy Industries. 

 Directors on the board of BHEL as well as other senior officials of the Ministry of Heavy Industries & Public Enterprises and BHEL were also present on this occasion. 

 The growth momentum achieved by BHEL in 2010-11 is likely to be accelerated in the current fiscal. The company has recorded significant growth in its turnover and achieved a quantum jump of 14% in profitability in the first nine months of 2011-12, with its Net Profit (PAT) at Rs.3,660 Crore, compared to Rs.3,213 Crore in the corresponding period in the year before. With this, BHEL has maintained its track record of earning profits uninterruptedly for four decades without a break. 

 With an order book position of over Rs.1,46,500 Crore, at the end of the third quarter, the company expects to achieve robust growth in 2011-12 and beyond. 

 BHEL has been committed to the nation’s power development programme and has reaffirmed its commitment to the Indian Power Sector by equipping itself by way of contemporary technology, state-of-the-art manufacturing facilities and skilled technical manpower. The company has established the capability to deliver 15,000 MW per annum and further augmentation to 20,000 MW per annum is underway.