New Delhi: State-run power equipment maker Bharat Heavy Electricals Thursday posted a net profit of Rs2,815 crore in 2007-08, a 16.6% rise from the previous year, while its annual turnover crossed Rs20,000 crore mark.
The company’s turnover rose to Rs21,608 crore in the year 2007-08, up 15% from Rs18,739 crore a year ago, Bhel chairman and managing director K Ravi Kumar told reporters here.
The company had reported a net profit of Rs2,415 crore in 2006-07, he said.
Bhel’s order book stood at about Rs85,000 crore, while during FY08 it crossed Rs50,000-crore mark, Kumar said.
“The order inflow rose 41% to Rs50,265 crore in 2007-08, up from Rs35,643 crore in 2006-07,” he said.
The firm doubled its investment on augmentation of manufacturing capacity and modernization of facilities to Rs726 crore during 2007-08, against Rs362 crore in 2006-07.
Also, it has scaled up its capacity to 10,000 MW and would further augment it to 15,000 MW by end-2009.
Kumar said Bhel envisages an investment of Rs4,200 crore in the 11th-Plan period. The amount would be utilised toward enhancing production of thermal, gas, hydro and nuclear sets.
Besides, the company seeks to produce high rated nuclear sets, 765kV transformers and other ancillary equipment.
“While the power business will continue to be the most important constituent of Bhel’s portfolio in the coming years, the industry sector is also expected to exhibit continued growth momentum,” Kumar said.
The company is also expanding into manufacturing of metro coaches and IGBT-based propulsions systems to gain from the emerging opportunities in this segment, Kumar said.
Bhel’s metro coaches would be manufactured at its existing facility at Jhansi in Madhya Pradesh.
It also plans to increase it spending on research and development to at least Rs900 crore by 2011-12 from the present Rs464 crore in 2007-08.
“In the transmission and distribution segment, focus will be on introduction of products and systems for 765 kV transmissiom projects and development of 1200 kV tarnsformers and circuit breakers,” he said. P