Hyderabad: Public sector major Bharat Heavy Electricals Ltd (Bhel), Hyderabad unit, has registered a 27 per cent increase in turnover at Rs 1,755 crore for the year ending March 31, 2004, against Rs 1,378 crore last year.
Bhel has also registered a rise in orders for 2004-05, which touched Rs 2,514 crore against the order book position of Rs 2,314 crore last year. The unit has posted Rs 148 crore profit before tax (PBT) against Rs 137 crore in the previous year.
Bhel's export turnover has also registered a 28 per cent growth and touched Rs 491 crore. It has also received the first ever export order on EPC (engineering procurement and construction) basis, which consists of an order for two advanced class turbines of 70 mw each from the Petroleum Development Organisation of Oman. While the first unit has already been commissioned the second unit is due for commissioning later this month.
A N Jagadishwaran, executive director, BHEL, Hyderabad, said that the VRS cost of Rs 30 crore, which had not been planned for at the beginning of the financial year, was the sole reason for the lower profit. The unit has also saved about Rs 48 crore through productivity improvement activities.
He said Bhel would cross the Rs 2,000-crore mark during the current year, and was looking at a turnover of Rs 2,700 crore by 2006-07.
According to him Bhel, Hyderabad has increased its focus on exports, as the unit is capable of supplying equipment sufficient to build 4,000-4,500 mw capacity annually. The unit at Hyderabad is actively working to form a joint venture with the NTPC for the operation and maintenance of thermal power plants in the country.
"We are soon going to sign an MoU to set up a joint venture company. We are awaiting clearances from the Government of India," he stated.