Hyderabad: Bharat Heavy Electricals Limited (Bhel), a public sector company, has placed a major thrust on R&D as a key driver of the company’s evolution into the realm of next-generation products and systems.
During fiscal 2008-09 out of its total turnover of Rs27,205 crore, the company has achieved a record turnover of Rs5,405 crore — nearly 20% of the total turnover, through commercialization of products and systems developed by way of in-house R&D efforts.
This is the result of constant thrust on developing new technologies and products, besides improving existing products and systems in terms of reliability, cost and quality through in-house R&D initiatives, a Bhel release said here on Wednesday.
Significantly, during the year, Bhel spent over Rs650 crore on R&D efforts — 40% more than the previous year.
Bhel’s R&D spend at 2.36% of the turnover, is among the highest in India for its kind of industry and has been ranked mid-way among the top 100 global R&D spenders, release said.
Bhel filed 202 patents and copyrights during the year, enhancing the company’s intellectual capacity to 857 patents and copyrights filed, which are in productive use in the company’s business, it added.