Public sector power equipment manufacturer, Bhel plans to become a R1 lakh crore-company by 2017, by more than doubling its turnover from the 2010-11 level.
The target was set in a strategic thinkers? meet of the company held in Manesar, Haryana recently. The entire board and top management of Bhel participated in the two-day meeting, which was meant to finalise the company?s corporate plan 2017, sources privy to the meeting told FE.
The company reported a turnover of R43,451 crore in the financial year 2010-11, as per its unaudited results. Bhel?s order book stood at R1,64,130 crore as on March 31. Bhel is supplying equipment to 55% of the 78,000 mw capacity addition envisaged by the government during the current Eleventh plan.
The government has planned 100 giga watt capacity addition during the coming plan. Of which, orders for 84,000 mw capacity have already been placed. Bhel has garnered a 51% share in the equipment supply contracts awarded for the plan.
Bhel is expanding its equipment manufacturing capacity to 20,000 mw to benefit from the boom in the domestic power sector. Facing Chinese competition, Bhel has taken key strategic decisions like outsourcing of non-core manufacturing to cut its costs.