Financial Daily from THE HINDU group of publications
Tuesday, Apr 04, 2006
Financial Daily from THE HINDU group of publications Tuesday, Apr 04, 2006 |
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Financial Performance Corporate Results - Electrical Goods BHEL rides on exports Our Bureau
At a glance Posts 39 per cent increase in turnover at Rs 14,410 crore. Export turnover stood at Rs 3,875 crore. EPS up 70 per cent at Rs 66.2.
New Delhi , April 3 State-owned equipment major Bharat Heavy Electricals Ltd (BHEL) on Monday announced a 70 per cent jump in net profit at Rs 1,621 crore for 2005-06 , as against Rs 953 crore in 2004-05. Releasing the provisional results for the last fiscal, the BHEL Chairman and Managing Director, Mr A.K. Puri, said the company posted a 39 per cent increase in turnover at Rs 14,410 crore from Rs 10,336 crore in 2004-05. The company secured orders worth Rs 9,008 crore and the total outstanding order book had swelled to Rs 37,500 crore at the end of March 2006. More than a quarter (27 per cent) of the revenue came from exports, Mr Puri said, adding that total export turnover stood at Rs 3,875 crore. The company's earnings per share stood at Rs 66.2, up 70 per cent from Rs 38.95. The fourth quarter results would be announced after a board meeting slated for the end of this month, officials said. Elaborating on the plans for the future, Mr Puri said BHEL was looking for acquisitions in India and abroad as part of a strategy to expand its global footprint.
Eyeing acquisitions
"We are open to the idea of acquiring small to medium-sized companies in India and abroad for inorganic growth. We have set up an internal group, which has been working on it for the past couple of months," he said. The company, which has cash reserves of over Rs 4,000 crore, is likely to fund possible acquisitions through internal accruals. The acquisitions, if any, would be in the company's line of business only and would be carried out with an aim of getting new technologies and expertise, intellectual property rights, product extensions or market access, he said.
New opportunities
Mr Puri said BHEL is gearing up to take advantage of the emerging opportunities in nuclear power sector, besides expanding conventional generation capacity to 10,000 MW by next year from 6,000 MW at present. BHEL is also eyeing opportunities arising from the Government's plans of setting up ultra mega power plants of 4,000 MW, which would have units of 800 MW each. BHEL has a technical tie-up with French equipment supplier Alstom for supplying 800 MW super critical technology, he said.
Related Stories: More Stories on : Financial Performance | Electrical Goods | Bharat Heavy Electricals Ltd
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