BHEL upbeat after Rs 440 cr profit
THE TIMES OF INDIA [5 APRIL, 2002]
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
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".