The Hindu Business Line : Bharat Electronics declares 180% dividend

Bangalore, Sept. 21 Bharat Electronics Ltd has declared a 180 per cent dividend for 2006-07. This includes 40 per cent interim paid in February and amounts to its highest ever in 53 years, the Chairman and Managing Director, Mr V.V.R. Sastry, told the annual general meeting.

“We want to achieve a turnover of Rs 4,500 crore in the current financial year and reach a figure of $2 billion by the year 2011-12,” Mr Sastry said. “While we are aware of the challenges around, we are well-prepared to meet them by giving strategic thrust to areas of technology, manufacturing, marketing, and HR. We would like to increase our expenditure on R&D, shift from product-based manufacturing to project-based approach, strengthen the marketing function to make the organisation market-driven and formulate HR policies and strategies to attract and retain the best talent.”

It closed 2006-07 with 12 per cent higher turnover, at Rs 3,952.69 crore, and PAT of Rs 718 crore.

BEL plans to improve civil sector presence and tap opportunities in security and homeland security, e-governance, telecommunications, nuclear instrumentation, solar and other energy businesses. The range now includes electronic voting machines and solar traffic signals.

As much as 81 per cent of BEL’s turnover during the year accrued from indigenously developed products. It launched 25 new products and systems.

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