Financial Daily from THE HINDU group of publications
Wednesday, Apr 09, 2003
Financial Daily from THE HINDU group of publications Wednesday, Apr 09, 2003 |
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Corporate
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Performance BHEL industrial systems group PBT at Rs 58 cr Our Bureau
BANGALORE, April 8 BHEL's industrial systems group has posted a profit before tax of Rs 58 crore for the financial year 2002-03 on a turnover of Rs 540 crore. BHEL's industrial systems group based in Bangalore comprises the electronics and electroporcelains division. A company release said here that it secured an order inflow of Rs 660 crore in a single year despite intense competition. The company said that the performance was attributable to prudent financial planning, liquidation of outstanding payments and enhanced focus on growth strategies. The release added that BHEL was targeting a turnover of Rs 1,800 crore by 2007. For the purpose, the company plans to invest Rs 85 crore for modernisation of existing facilities. The company has supplied indigenously developed insulators for the Kolar Talcher HVDC transmission project. The company is also engaged in the manufacturing of new generation automation systems under a recent collaboration agreement with Metso Automation Max Controls of the US. During the year it also successfully engineered and manufactured several key electronic control modules, which have been used in systems supplied to Kota, Dhruvaran and Kuttalam power projects, a step closer to absorption of technology with in-house development efforts. The release said that the company had also received orders worth Rs 575 crore for supply of these systems, mostly domestic power projects. In addition, it has also secured export orders from power projects in Indonesia and Taiwan. The release said that the electronics division had achieved major success in the electricification of Andrott and Kadamatti islands of the Lakshadweep.
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