Bangalore, April 11: Bharat Heavy Electricals Ltd (BHEL) has recorded a turnover of Rs 6,450 crore during 1997-98. The value addition has been to the extent of Rs 2,800 crore with a profit before tax of Rs 1,002 crore and an earnings per share of Rs 28.5.According to company executive director VK Bhatnagar, the audited balance sheet is not yet ready and the company was not in a position to reveal the net profit figures.
The Bangalore-based units of BHEL have achieved a turnover of Rs 506 crore during 1997-98 as against Rs 461 crore in the previous fiscal. These units include the electronics division (EDN), electronics systems division (ESD), the industrial systems group (ISG) and the electroporcelains division (EPD).
Speaking at a press conference here on Saturday, Bhatnagar said that the Bangalore-based units have maintained a double-digit growth of 10 per cent with a value addition of Rs 217 crore and profit before tax of Rs 88 crore. Sales from new products amounted to Rs 133 crore, contributing 26per cent to the total business generated during 1997-98.
He further said that this performance has been achieved in a highly competitive environment and in the face of a general slowdown in the industry. During the year, emphasis has been laid on effecting operational improvements, enhancing competitiveness, customising product designs and translating acquired technologies and innovative developments into business opportunities.
The Bangalore-based units of BHEL witnessed an impressive growth in exports. Exports turnover, including deemed exports, touched Rs 117 crore, representing a 17 per cent increase over the previous year.
According to Bhatnagar, the company will concentrate on technological upgradation through in-house development and technology acquisition for which the company has earmarked a sum of Rs 20 crore.
The Bangalore-based units are also laying special emphasis on productivity improvement programmes, he said. Over 350 productivity improvement projects covering areas like valueengineering, economic buying, inventory management and technology development were completed during 1997-98 and have resulted in savings to the tune of Rs 14 crore.
The units will focus on areas like transportation electronics, transmission and distribution electronics, electrics and automation DG sets, automation in the oil industry, industrial process automation, space grade solar photovoltaics, catalytic converters, composite insulators etc. These units are gearing up to achieve a turnover of Rs 1,000 crore within the next five years.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
