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BHEL pays all-time high equity dividend

BHEL pays all-time high equity dividend
With a final dividend payout of 184 per cent, Bharat Heavy Electricals Limited [BHEL] has paid an equity dividend of 320 per cent for fiscal 2011-12, as against 311.5 per cent paid in the year before. At Rs 1,567 crore, this is the highest-ever dividend in percentage as well as value terms paid by the company so far.

With this, the company has maintained its unmatched track record of earning profits and rewarding investors by paying dividends uninterruptedly for over three decades without a break.

A cheque of Rs.609.98 crore towards the final dividend for the year 2011-12 on the equity [67.72 per cent] held by the Government of India, was presented on Thursday to Praful Patel, Union Minister for Heavy Industries and Public Enterprises by B P  Rao, chairman and managing director, BHEL, in the presence of S Sundareshan, secretary, department of heavy industries.

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 fiscal 2011-12, despite difficult market conditions, BHEL maintained the growth momentum achieved in the year before, with a top line growth of 20 per cent and an all-time high Turnover of Rs 49,510 crore. The company also recorded a quantum jump of 24 per cent in its profit after tax [PAT] which was also the highest-ever at Rs 7,040 crore. Significantly, with this BHEL has become eligible for ‘Maharatna’ status.

BHEL recorded a 26 per cent surge in net worth, which went up to Rs 25,373 crore from Rs 20,154 crore in the year before. Earnings per share [EPS] on the post split number of shares basis went up by 24 per cent to Rs 28.76.

With an order book position of nearly Rs 1,33,000 crore at the end of the first quarter, the company expects to achieve robust growth in 2012-13 and beyond.

BHEL has been committed to the nation’s power development programme and has reaffirmed its commitment to the Indian power sector by equipping itself by way of contemporary technology, state-of-the-art manufacturing facilities and skilled technical manpower.


DOMINICK RODRIGUES

Mahindra & Mahindra Ltd. [M&M], India’s leading SUV manufacturer, on Thursday announced that it has received over 5,000 bookings from customers for its newly launched compact SUV, the Quanto within 3 weeks of its launch. Bookings for Quanto had opened across India from 21 September. Pravin Shah, chief executive - automotive division, Mahindra & Mahindra, said that the Quanto’s receiving over 5,000 bookings in a short span of three weeks strengthened the company’s belief that this car would create a new category within the SUV segment.
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