BHEL declares all-time high 40% interim dividend for fiscal 2005-06.

Engineering major Bharat Heavy Electricals Limited (BHEL) has declared an all-time high interim equity dividend of 40% for fiscal 2005-06 as against an interim dividend of 35%, paid in the year before. With this, BHEL has maintained its track record of paying dividends uninterruptedly for the last 30 years.

During the year 2004-05, BHEL continued its sterling performance of earning profits for over three decades without a break, with its net profit at Rs.9,530 Million, surging 45% and an all-time high turnover of Rs.103,360 Million, growing by a healthy 19% over the previous fiscal. A total dividend of 80% was paid by the company for fiscal 2004-05 (including an interim dividend of 35%).

The momentum of double-digit growth has accelerated in the current fiscal and the company has recorded significant growth in its profitability parameters in the first six months of 2005-06. While net sales/income from operations has risen by a healthy 53.7% at Rs.49,022 Million, the Profit After Tax (PAT) has catapulted by 113.5%, at Rs.3,880 Million.

In the same period, the company has also already booked physical export orders worth Rs.11,750 Million. Major achievements include a landmark turnkey contract for two power projects from PDO Oman. In addition, the company has made inroads into two new markets namely Ethiopia and Surinam.