Thursday 23rd May 2024

BHEL bags DSIJ Award 2018 for Fastest Growing Maharatna

Jun 4th, 2019 3:33 pm | By | Category: LATEST NEWS

(THE NEWSMAN OF INDIA)
New Delhi, June 3: For its superlative performance, Bharat Heavy Electricals Limited (BHEL) has been awarded the Dalal Street Investment Journal (DSIJ) Award 2018 for the ‘Fastest Growing Maharatna of the year – Manufacturing’, in the country.
An independent jury unanimously selected BHEL for the recognition in the manufacturing category based on outstanding profit and Earnings Per Share (EPS) growth. As a result of strategic initiatives, BHEL registered quantum growth in its profit and gained significant traction in growth drivers – diversification and technology. In the last three years BHEL’s profit before tax has surged by three times while registering a consistent revenue growth. Prudent strategies of garnering higher market share in a shrunken and highly competitive business environment enabled BHEL to maintain its leadership position with 100% market share in the thermal power equipment business.

The company also has recorded the highest-ever order booking in transportation and spares business. BHEL’s transformational journey of continued commitment and efforts to deliver on its purpose – to help in building a New BHEL, and a New India, has resulted in the company continuing on the path of improved performance.

In the just concluded financial year 2018-19, the company’s net profit has soared by 50.7%, and Earnings Per Share have surged by 52.3%. Consequently, the company has declared an equity dividend of 100% (including an interim dividend paid earlier) for 2018-19, maintaining its impeccable track record of rewarding investors by paying dividends uninterruptedly for over four decades. Significantly, the total dividend outflow for the year 2018-19 shall be the highest during the last six years.

Government News

Comments are closed.