Bharat Heavy Electricals limited (BHEl) has paid a final equity dividend of 31 per cent for fiscal 2014-15. In value terms, the total dividend paid for fiscal 2014-15 amounts to Rs284 crore, which is 58 pr cent of the paid-up capital (including an interim dividend of 27 per cent). With this, the company has maintained its impeccable track record of rewarding investors by paying dividends uninterruptedly since 1976-77.
A cheque of Rs95.7 crore towards the final dividend for the year 2014-15 on the equity (63.06 per cent) held by the Government of India, was presented here to Anant Geete, Union Minister for Heavy Industries and Public Enterprises by B Prasada Rao, chairman and managing director, BHEl, in the presence of RS Katoch, secretary, Department of Heavy Industry.
Directors on the board of BHEl as well as other senior officials of the Ministry of Heavy Industries & Public Enterprises and BHEl were also present on this occasion.
In spite of fiscal 2014-15 being an extremely challenging year, BHEl secured orders worth Rs30,814 crore, an increase of 10 per cent over the previous year, in intensely competitive domestic and overseas markets. Despite severe market shrinkage and stiff competition in the power sector, BHEl maintained its leadership position with a market share of 72 per cent for the second consecutive year. By expanding its offerings, the company secured 89 per cent of its total orders in the power sector on EPC (Engineering, Procurement & Construction) basis. At the end of the year total orders in hand for execution in 2015-16 and beyond, stand at Rs1,01,018 crore. In a constrained business environment, the company demonstrated tremendous resilience and achieved a turnover of Rs30,947 crore and a net profit of Rs1,419 crore during 2014-15.