BHEL to boost manufacturing capacity to 20,000 MW by March 2012

Electrical equipment major Bharat Heavy Electricals Ltd (BHEL) is well on track to raise its manufacturing capacity to 20,000 MW by March 2012, from the current 15,000 MW, its managing director B P Rao said.

Addressing the company's 47th annual general meeting today, Rao said the company made a profit of Rs9,006 crore for the 2010-11 financial year, on a record turnover of Rs60,507 crore.

He said along with the capacity addition plan in the current year, the company's strategy also envisages an improvement in product quality and cost-competitiveness.

The company's current capacity is just over 15,000 MW. BHEL had clocked a profit of Rs9,006 crore for the 2010-11 fiscal and an all-time high turnover of Rs43,337 crore, he added. The company secured orders worth a record Rs60,507 crore in 2010-11.

With a cumulative order book of over Rs1,64,145 crore at the close of the financial year, the company expects to achieve robust growth in 2011-12 and beyond, Rao added.

Rao said BHEL, in keeping with environmental concerns worldwide, is also looking at areas of sustainable development in the power sector.

BHEL, he said, is focusing on the development of economically viable solar power equipment. Besides, the company is also developing advanced ultra supercritical (Adv-USC) technology, in association with the Indira Gandhi Centre for Atomic Research (IGCAR) and NTPC, as part of the National Mission for Development of Clean Coal (Carbon) Technologies.

BHEL also declared a final dividend at the rate of  179 per cent (Rs17.90 per equity share of Rs10 each) on the paid-up share capital of Rs489.52 crore, in addition to interim dividend at the rate of 132.5 per cent (Rs13.25 per equity share of Rs10 each) already paid during the year 2010-11. The final dividend will be paid on 1 October 2011.