BHEL upbeat after Rs 440 cr profit

By Surojit Mahalanobis

Times News Network NEW DELHI: Bharat Heavy Electrical Limited (BHEL), has recorded 46.6 per cent growth in net profit at Rs 440 crore in 2001-02. This is spectacular because BHEL outperformed the industry because of the strategic measures such as prudent financial management, focus on international markets and new human resources management initiatives,’ said an upbeat CMD K G Ramachandran while addressing media persons on Wednesday here.

The company has recorded the highest-ever order ow at Rs 9,836 crore from both national and international customers. It secured an export order worth over Rs 800 crore, including those from Chinese, Kazakhstani and Algerian customers. He said by setting up new benchmarks in greenfield power protects, such as 500 kW Simhadri thermal power station in just 39 months and the country’s first medium-range hydro project Malana HEP, the company had justified its claim of superior research and developmental capabilities.

BHEL is now looking forward to a new area. It has identified the field of solar photovoltaic modules as new generation "order-provider". During the last fiscal it supplied these modules to Germany and Netherland. It hopes to expand its market because in a world with fast depleting reserves of natural oil and gas, the new generation fuel or sources of power could possibly be generated from solar and wind energy. And the world is gradually buying the idea, Ramachandran maintained.

Seven grid-interactive solar photovoltaic power plants were commissioned in Lakshadweep. Incidentally Lakshadweep has become a test-land for the world’s one of the largest island electrification projects using the solar energy. The largest rooftop solar power plant which was commissioned in Hyderabad. The company supplied 16,849 solar lanterns this year.

Asked if the company was doing anything in tapping wind energy, Ramachandran said, BHEL had already set up wind-based power stations in AP at Ramagiri, and also in Gujarat, Tamil Nadu and Rajasthan.

Though the concept is not very old, the company has the capability of manufacturing wind-energy tap ping equipment and it has been supplying them to many states already. Asked what would be the effect of cutting the depreciation value of the equipment, as proposed in the Budget 100 per cent to 60 per cent, Ramachandran observed that would be a disincentive, adding "Let us see what the power ministry has to say on this".