Defence PSU Bharat Electronics (BEL) sales turnover has increased to Rs 5,550 in 2010-11 (provisional) from Rs 5,220 crore in 2009-10, registering a growth of 6.3 per cent
Defence PSU Bharat Electronics (BEL) today said its sales turnover has increased to Rs 5,550 in 2010-11 (provisional) from Rs 5,220 crore in 2009-10, registering a growth of 6.3 per cent.
The estimated profit before tax is at Rs 1,120 crore as against Rs 1,045 crore in 2009-10, BEL Chairman and Managing Director, Mr Ashwani Kumar Datt said, adding, the audited results were still awaited.
The PSU registered a growth of 77 per cent in its exports turnover from $23.65 million in 2009-10 to $41.89 million during 2010-11, he told media, after announcing the company's performance highlights during the year.
"Exports did better than targeted", he said.
All units continued to achieve profits, he said. BEL's order book grew from Rs 11,350 crore to Rs 23,600 crore as on April 1, 2011.
Supplies to defence contributed to 80 per cent of the turnover. The turnover from indigenously developed products was 78 per cent, he said.
Weapon Systems on account of Akash contributed to 4 per cent of the turnover and the segment was expected to grow in future. Communication contributed to 18 per cent, he added.
The new products for the year included Akash weapon system, Humsa-NG, Semi Ruggedised Automatic Exchange, Lower Power Jammer, Instant Fire Detection and Suppression System and Mobile Communication Terminal.
Talking about its export orders, he said BEL has an export order book of $66.36 million, including offset order of $42.28 million. The export target for 2011-12 is $47 million, he said.Mr Datt said the company is aiming to reach a turnover of Rs 6,200 crore during 2011-12.
It would work strategically on important projects like Akash weapon system for Indian army, Lightweight Portable Radar, Battlefield Surveillance System. "BEL is aiming to achieve increased growth in offset business exports", he said.
It is looking at diversifying into new areas of defence and civil segments and giving thrust to in-house development and strengthening its R&D capabilities.
BEL is in discussion with a reputed foreign OEM on forming an Indian JV in the area of civilian radars and select defence radars, he said.
The plans for setting up a JVC with BHEL for manufacturing solar PV wafers, cells and modules have been finalised. Both the companies are in the process of obtaining approvals from their respective boards, Mr Datt said.
BEL is working on establishing a company for the design, development and manufacture of RF and microwave components and subsystems, he added.
On Wednesday, BEL ended 0.17% up at Rs1,828.90 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.49% to 19,448.69.
Swaraj Engines reported 20.20% rise in its net profit for the quarter ended 31 March 2011, at Rs11.07 crore
Swaraj Engines today reported 20.20% rise in its net profit for the quarter ended 31 March 2011, at Rs11.07 crore.
The company had posted a net profit of Rs9.21 crore in the corresponding period last year, Swaraj Engines said in a filing to the Bombay Stock Exchange (BSE).
The total operating income during the fourth quarter of last fiscal increased by 26.94% to Rs 96.93 crore from Rs 76.36 crore in the year-ago period, it added.
For the entire 2010-11 financial year, Swaraj Engines' net profit rose by 17.56% to Rs 43.91 crore from Rs 37.35 crore in the previous fiscal.
The total operating income during last fiscal stood at Rs 360.63 crore as against Rs 282.44 crore in 2009-10, up 27.68%, the filing said.
The board of the company recommended a 100% dividend, which is Rs 10 per equity share on face value of Rs 10 each.
On Wednesday, Swaraj Engines ended 2.60% down at Rs456.30 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.49% to 19,448.69.
FMCG firm Dabur India reported 8.5% increase in its consolidated net profit at Rs147.04 crore for the fourth quarter ended 31 March 2011
Boosted by good growth across segments, homegrown FMCG firm Dabur India reported 8.5% increase in its consolidated net profit at Rs147.04 crore for the fourth quarter ended 31 March 2011.
The company had reported a net profit of Rs135.47 crore in the corresponding period last fiscal.
Net sales during the fourth quarter of the fiscal grew by 30.6% to Rs1,108.22 crore from Rs848.58 crore, the company said in a statement.
Dabur India said its board has also recommended a final dividend of 65%, taking the total dividend for the year 2010-11 to 115%.
"While the external environment and inflation in raw material prices continued to play truant, a combination of calibrated price increases and cost management initiatives helped Dabur report a 28% growth in EBITDA during the fourth quarter," Dabur India chief executive officer Sunil Duggal said in the statement.
During the quarter, the consumer care business registered revenue of Rs873.30 crore, while consumer health business had a revenue of Rs86.07 crore. The foods portfolio, which includes brands such as Real, Activ and Hommade, reported revenue of Rs126.44 crore.
For the year ended 31 March 2011, consolidated net profit stood at Rs568.90 crore, a 13.23% growth over the Rs502.42 crore earned in the previous fiscal.
During the period, the firm's net sales jumped 20.26% to Rs4,077.43 from Rs3,390.47 posted in the previous fiscal.
Dabur said its global business (including Hobi Kozmetik of Turkey and recently acquired US-based Namaste Laboratories) grew by 46.3% growth, led by robust performance in GCC, Egypt, Nigeria, Levant and North African markets.
"North Africa notched up yet another strong performance, growing by 43% during the year, while the Egypt business grew by 32% and the GCC business reported a 20% surge," Dabur India Group Director PD Narang said.
During the fiscal, material cost was at Rs1,806.83 crore, up from Rs1331.26 crore in the year-ago period, and advertising and publicity cost increased to Rs534.56 crore compared to Rs493.48 crore in the previous fiscal, the statement said.
"Dabur is now putting in place several new initiatives to further expand its rural India footprint, and remains on course to strengthen our brand portfolio and improve our competitiveness in the market place," Duggal said.
On Wednesday, Dabur India ended 2.35% down at Rs99.60 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.49% to 19,448.69.