The Hindu : Karnataka / Bangalore News : BEML turnover crosses Rs. 3,000 crore

Online edition of India's National Newspaper
Friday, Jul 10, 2009
ePaper | Mobile/PDA Version

Karnataka

Karnataka - Bangalore

BEML turnover crosses Rs. 3,000 crore

Special Correspondent

Bangalore: BEML has registered a turnover of Rs. 3,013 crore in 2008-09, implying a growth of 11 per cent over the previous year. Announcing the results of the company’s performance last year, Chairman and Managing Director, V.R.S. Natarajan, said the company had performed well in an adverse economic situation.

The company registered a net profit of Rs. 387.47 crore, an increase of 11 per cent over the previous year. Mr. Natarajan pointed out that all the manufacturing divisions of the company were profitable during the year.

The Mining and Construction Business Group reported a turnover of Rs. 1,840.95 crore in 2008-09, an increase of 20 per cent over the previous year.

Mr. Natarajan said BEML has signed an MoU with the Steel Authority of India Ltd. for “long term supply and maintenance of equipment.”

During 2008-09 BEML’s export turnover was Rs. 304.78 crore, more than 50 per cent higher than the level achieved in the previous year. Apart from its usual exports of mining and construction equipment the company also exported crash fire tenders and aircraft towing tractors in 2008-09.

The company’s order book at the end of 2008-09 was Rs. 5,038 crore, which is to be serviced in 2009-10 and beyond, said Mr. Natarajan.

Mr. Natarajan said the 34 per cent increase in the outlay for Defence has spurred BEML to expand its product range “to meet the long term procurement plan of Ministry of Defence through Technology tie-ups and R&D development.”

Printer friendly page
Send this article to Friends by E-Mail

Karnataka