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#1
3rd April 2007, 04:16 PM
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BHEL is the Best...
BHEL 06/07 profit up 47 percent, shares rise
Tuesday April 3, Bharat Heavy Electricals Ltd., India's top maker of electrical equipment, said on Tuesday its provisional profit for the year to March 2007 rose 47 percent to 23.85 billion rupees ($553 million). State-run BHEL said in a statement it expects turnover in the 2006/07 financial year to reach 187 billion rupees ($4.34 billion), up 29.8 percent from the year before. The firm is targeting turnover of $10 billion by the 2011/12 financial year, it said. Provisional profit in the year to March 2006 was 16.21 billion rupees. At 13:41 p.m., the firm's shares were trading 5.19 percent higher at 2,265.4 rupees in a Mumbai market up 1.3 percent. BHEL, whose equipment brings electricity to three out of four Indian homes, said it was aiming to raise capacity to produce enough equipment to generate 15,000 megawatts (MW) of electricity per year by 2011/12. That expansion would require an investment of 32 billion rupees, the company, described by the government as a crown jewel, said. It had outstanding orders worth around 550 billion rupees on March 31. BHEL has been looking to acquire companies to boost growth and the statement said the firm would pursue mergers and acquisitions to boost its presence at home and abroad. 
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