Despite fiscal 2013-14 being an extremely challenging year for Bharat Heavy Electricals limited (BHEl) the company has achieved a turnover of Rs40,338 crore and a net profit of Rs3,461 crore during 2013-14.
The resilience of the company is evident from the net profit margin of 9 per cent which is still higher than many industry peers. This was stated by B Prasada Rao, Chairman & Managing Director, BHEl at the 50th Annual General Meeting of the company, here on Friday.
Consequently, a total dividend of Rs693 crore, has been declared for 2013-14, which is 141.5 per cent of the paid-up capital (including an interim dividend of 65.5 per cent), maintaining the track record of paying dividends uninterruptedly since 1976-77, he added.
Addressing shareholders, Rao said that, during the year BHEl synchronized/ commissioned all time high power projects of 13,452 MW which is the highest in a single year. This includes commissioning of 11,266 MW in utilities comprising 9 nos. of 600 MW sets, 1,698 MW in captive/industrial sets, and 488 MW in the overseas markets.
Rao said that despite unfavourable externalities, BHEl secured orders worth Rs28,007 crore from its diversified business segments viz. Power and Industry covering both domestic and international markets.
Despite severe market shrinkage and stiff competition in the power sector, BHEl increased its market share from 68 per cent in 2012-13 to 72 per cent in 2013-14 which includes highest ever mega EPC order worth Rs7,900 crore for 3x660 MW supercritical units from NTPC for North Karanpura. At the end of the year total orders in hand for execution in 2014-15 and beyond, stand at Rs1,01,566 crore.
He said that financial year 2013-14 was the second successive year of sub-5% growth, though the economy marginally improved as compared to 2012-13, with GDP growth of 4.7 per cent.