BHEL registers quantum growth in its profit & order booking in 2017-18

As a result of strategic initiatives taken, Bharat Heavy Electricals Limited (BHEL) has registered quantum growth in its profit and order booking in fiscal 2017-18, ending the year with significant traction in growth drivers. During the year, the company achieved a profit before tax (PBT) of Rs 1585 crore, compared to a PBT of Rs. 628 crore in the year before, registering a surge of 152%. Net profit (PAT) for the year stands at Rs. 807 crore, against Rs. 496 crore in the previous fiscal, a 63% jump. Maintaining the trend of topline growth for the second consecutive year, BHEL has also recorded a turnover of Rs. 27850 Crore, as against Rs. 27740 crore in the previous year. Notably, on a comparable basis, the turnover for FY 2017-18 would have been higher by Rs. 488 crore totaling to Rs. 28338 crore, a jump of 2.2 % over the previous year, considering the duties & taxes on bought-out items & Civil Turnover which were forming part of the turnover in pre-GST regime. For the fourth quarter ending on 31 March 2018, the PBT stood at Rs. 1140 Crore against Rs. 269 Crore in the previous year—a jump of 324 %. PAT was declared as Rs. 457 Crore as against Rs. 216 Crore last year, registering a jump of 112 %. The turnover for the quarter was Rs.9833 Crore as against Rs. 9479 Crore in the last year. An interim equity dividend of 40% has been paid for 2017-18, on the enhanced equity following a bonus issue earlier in the year, maintaining the track-record of paying dividends uninterruptedly since 1976-77. In addition, the company has recommended a final dividend of 51 %, subject to the approval of shareholders. With this, the total dividend for the year 2017-18 would stand at 91 %., on the enhanced equity. This will be the highest dividend in last four years. Atul Sobti is  the Chairman-cum-Managing Director while Subodh Gupta heads Finance Department as Director Finance.