Financial Daily from THE HINDU group of publications
Friday, Apr 02, 2004
Financial Daily from THE HINDU group of publications Friday, Apr 02, 2004 |
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Corporate
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Performance BEML posts Rs 1,771-cr sales turnover Our Bureau
Bangalore , April 1 PUBLIC sector Bharat Earth Movers Ltd has posted sales turnover of Rs 1,770.61 crore for the year ended March 31, taking it up by 5.7 per cent over sales figures for the year 2002-03. Last year, it made sales of Rs 1,675 crore. Profit before tax is Rs 52.5 crore, up from Rs 38 crore for the previous fiscal. On the export front, BEML said it has doubled its achievement from Rs 21.45 crore last fiscal to the latest Rs 54 crore. The highlight of the year was the delivery of its first consignment of indigenously built stainless steel metro coaches for the Delhi Metro Rail Corporation. BEML is assembling 180 of the 240 coaches needed by DMRC under licence from South Korean major Rotem. With several cities likely to go in for metro rail projects, BEML is banking on major demand for its coaches from this sector. After a gap of five years, it bagged the Indian Railways' order for 200 rail coaches and rolled out 35 during 2003-04. Given the same kind of demand, the public sector major said it expects to come out with over 400 coaches a year. A new growth area is the Skybus, for which the company developed a prototype for Goa. The prototype is under test. During the year, BEML opened a new line of business when it delivered 336 special MBWT wagons for transporting tanks to the armed forces. It also secured orders for earthmoving equipment from coal companies.
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