Mr. C.S. Verma, Director (Finance), BHEL bags TOP RANKERS Excellence Award

Mr. C.S. Verma, Director (Finance), Bharat Heavy Electricals Limited (BHEL) has been awarded the ‘TOP RANKERS Excellence Award’ for Best Finance Professional for the year 2007-08.

Mr. Verma is instrumental in revamping the financial systems and procedures in the company and ensuring best corporate practices. The award has been conferred on Mr. Verma in recognition of his contribution in attaining excellent growth in various financial parameters of the company, maximizing shareholder wealth and ensuring stakeholders’ satisfaction.

Instituted by Top Rankers – the country's reputed Management Consultants, the award was presented by Mr. S.K. Chaturvedi, CMD, Power Grid Corporation of India Ltd (PGCIL) to Mr C.S.Verma at the ‘National Workshop on Talent Management : a way to Business Excellence’ here today.

BHEL further built on the growth momentum achieved in the year before, completing yet another successful year, which saw the company reiterate its commitment to the country's power development programme and other infrastructure sectors.

BHEL has maintained its track record of earning profits and paying dividends. During the year 2007-08, the company notched its highest ever turnover of Rs.21,401 Crore crossing the Rs.20,000 Crore mark for the first time. The net profit (PAT) at Rs.2,859 Crore surged nearly 19 per cent over the previous year.

Earnings per share (EPS) on the post bonus equity capital also increased by around 19 per cent over the previous year.

Spurred by the strong and consistent growth achieved in the last few years, BHEL has set its sights on becoming a Rs.45,000 Crore company by 2011-12. The company has unveiled a Strategic Plan 2012 that will enable it to grow at a Compounded Annual Growth Rate of 20 per cent.

BHEL has been committed to the nation’s power development programme and has reaffirmed its commitment to the Indian Power Sector by equipping itself for the future, by way of technology, facilities and trained manpower to the country's power forecast for the 11th Plan and beyond.