Mumbai: Navaratna PSU Bharat Heavy Electricals Ltd (BHEL) has posted an all-time high turnover of Rs 14,525 crore in 2005-06, a growth of nearly 41 per cent for the previous year. BHEL also announced the highest-ever dividend of 145 per cent to its shareholders.
"This is also the highest year-on-year growth in the last three decades. Net profit has soared by over 76 per cent to Rs 1,679 crore. Consequently, an enhanced equity dividend of 145 per cent has been declared by the company," BHEL CMD AK Puri told shareholders at the 42nd AGM of the company.
"BHEL has once again posted a sterling performance and the events of the year confirmed that fulfilment of the company's strategy continues to be on course," he said, adding that the company expects to achieve a healthy top and bottom-line growth in 2006-07 and beyond.
The company has more than doubled shareholder value with a surge in economic value addition (EVA), which increased from Rs 504 crore the year before to Rs 1,079 crore now, he said.
BHEL also secured the highest-ever orders worth Rs 18,938 crore in a single year. The company's order book stood at a comfortable Rs 37,600 crore at the close of the financial year.
"Today, BHEL is the leader in the heavy electrical equipment industry in the country. Looking to the future, a new strategic plan 2012 is being developed by the company to ensure long-term growth," Puri said.