i Develop Stocks Advisory

BHEL Ranipet eyes Rs 2,000 crore turnover this fiscal Bharat Heavy Electricals Limited (BHEL), Ranipet in Vellore district, has projected a turnover of Rs 2,000 crore during the current financial year 2008-09.

AV Krishnan, general manager, in charge of the boiler auxiliaries plant, said the PSU had been logging 30 per cent growth and was targeting a profit before tax of Rs 300 crore this year.

The Ranipet unit has undertaken a Rs 117.42-crore modernisation and expansion, which would be completed by December 2009.

Post modernisation, the company’s installed capacity would increase to 15,000 Mw from 10,000 Mw now.

It currently has about 300 sub-contractors. Krishnan said a few entrepreneurs from Krishnagiri, Dharmapuri and Salem had evinced interest in supplying components.

Earlier, addressing the media he said Ranipet’s operations reported an all-time high turnover of Rs 1,415.25 crore in the year 2007-08, up 13 per cent over last year, while profit before tax was at Rs 208.14 crore.

The order book stood at Rs 4,658 crore, which includes orders worth Rs 2,939 crore bagged during the year.