BHEL DECLARES 100% DIVIDEND
NEW DELHI: State-owned BHEL on Friday announced a total 100 per cent dividend for its shareholders for 201819 financial year.
Earlier, BHEL had paid 40 per cent interim dividend for 2018-19, which was Rs 279 crore in value terms. In the AGM held on Thursday, additional final dividend of 60 per cent was declared.
"A total dividend of 100 per cent has been declared, maintaining BHEL'S impeccable track record of paying dividends uninterruptedly for over four decades," a BHEL statement said.
Addressing shareholders, Chairman and MD Nalin Shinghal said during the year, the company achieved a profit before tax of Rs 2,058 crore, registering an increase of 30 per
cent while the net profit (PAT) for the year stood at Rs 1,215 crore, an increase of 51 per cent over the previous fiscal.
He further said the topline also grew to Rs 29,349 crore in the fiscal, as against Rs 27,850 crore in the previous year.
According to the statement, BHEL booked orders worth Rs 23,859 crore during 201819 despite a subdued business environment and increased competitive intensity. BHEL will strengthen its focus on new avenues of growth through diversification in areas such as railway transportation, defence and aerospace, e-mobility, and water business, he added.
Shinghal said such strategic initiatives will further strengthen the base of the company, and set the stage for rapid growth in years to come.