Bharat Heavy Electricals limited (BHEl) has achieved double digit growth in its topline and bounced back into profit in fiscal 2016-17, ending the year with significant traction in growth drivers. It has recorded a turnover of Rs28,840 crore which is 11per cent higher than the previous year. The company has returned to profitability with a Profit Before Tax (PBT) of Rs628 crore, compared to a loss of Rs1164 crore (IND-AS restated) in the last fiscal. Net Profit (PAT) stood at Rs496 crore, against a net loss of Rs710 crore (IND-AS restated) in the previous year.
An interim equity dividend of 40 per cent has been paid for 2016-17, maintaining the track record of paying dividends uninterruptedly since 1976-77. Enhanced focus on project execution has resulted in BHEl achieving a capacity addition of 45,274 MW during the 12th Five Year Plan period (2012-17), surpassing the target of 41,661 MW set by the government for BHEl, by 9 per cent. With this, BHEl continues to remain the single largest contributor to the country’s power generation capacity addition.
During the year, BHEl commissioned and synchronised 8,539 MW of power generating equipment. With this, the company’s installed power generating capacity has gone up to 178 GW, across the world. It has also forayed as a co-developer into power generation with the commencement of commercial operation of the first 800 MW unit at its Yeramarus TPS (2x800 MW) - a joint venture with equity contribution from KPCl, BHEl and IFCI.