BHEL pays all-time high 125% interim dividend for fiscal 2006-07

New Delhi, February 27: Bharat Heavy Electricals Limited (BHEL) has paid the highest-ever interim dividend of 125% for fiscal 2006-07, maintaining its track record of paying dividends uninterruptedly for the last 31 years.

A cheque of Rs.2,071.9 Million for the payment of the interim dividend on the equity (67.72%) held by the Government of India, was presented here today to Mr. Sontosh Mohan Dev, Hon’ble Union Minister for Heavy Industries and Public Enterprises by Mr. Ashok K. Puri, Chairman and Mananging Director, BHEL.

Senior officials of the Department of Heavy Industries & Public Enterprises and BHEL were also present on this occasion.

The momentum of double-digit growth achieved in 2005-06 is likely to be maintained in the current fiscal also and the company has recorded significant growth in its profitability parameters in the first nine months of 2006-07. While net sales/income from operations (nine months) has risen by a healthy 33.8% at Rs.100,318 Million, Profit After Tax (PAT) has catapulted by nearly 56%, at Rs.12,640 Million, reflecting BHEL’s sterling performance of earning profits for over three decades without a break.

Having demonstrated its track record in successfully establishing new technologies to serve the nation’s power sector, BHEL is now poised to introduce 800 MW thermal sets with supercritical parameters. BHEL has equipped itself to produce thermal power equipment for 800 MW sets and above, suited to Indian conditions, using Indian as well as 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.

Aimed at gearing up to meet the country's capacity addition targets towards the agenda of providing ‘Power to all by 2012’, BHEL is investing more than Rs.12,000 Million for holistic modernization and capacity expansion of its facilities from 6,000 MW per annum at present to 10,000 MW per annum. BHEL also has plans to further increase its capacity to 15,000 MW as required by the country’s power sector in the eleventh five-year plan.