BHEL wins Rs 40,932-cr orders in FY18, declares 91% dividend

State-run engineering major BHEL booked orders worth Rs 40,932 crore in 2017-18, registering 74 per cent jump from the previous financial year, its Chairman and Managing Director Atul Sobti said on Wednesday.

Bharat Heavy Electricals (BHEL) secured all orders for main packages of thermal power projects during 2017-18. “With this, the company has ended the year with a total order book of over Rs 1,18,000 crore - the highest in the last five years,” said Sobti at the company’s AGM.

BHEL’s profit before tax surged 152 per cent to Rs 1,585 crore during the year compared to Rs 628 crore in the previous year. Net profit jumped 63 per cent to Rs 807 crore as against Rs 496 crore in the previous year. Maintaining the trend of top line growth for the second consecutive year, BHEL has recorded a turnover of Rs 27,850 crore, as against Rs 27,740 crore in the previous year, he added.

Consequently, a total dividend of 91 per cent has been declared on the enhanced equity share capital post bonus for the year 2017-18, maintaining the track record of paying dividends uninterruptedly since 1976-77. Notably, this is the highest dividend paid by the company in the last four years, he added. The CMD said that the company delivered a resilient performance during 2017-18. Adoption of strategic initiatives resulted in significant progress in enhancing profitability and productivity, reinforcing leadership in the power sector, and strengthening non-power business areas. These achievements, along with the strategies in place, are strengthening BHEL’s pre-eminent position among national assets and assuring its continued contribution in building a ‘New India’, he said. He said the shareholders that some of the major orders won during the year included 3x800 MW Patratu the largest power project order on EPC basis ever placed in the country through international competitive bidding.