BEL pays over Rs77 crore dividend to government

Navratna public sector unit Bharat Electronics Limited (BEL) has paid total dividend of over Rs77 crore (187 per cent of its paid-up equity capital) for the financial year 2008-09 (ended 31 March).

Ashwani Kumar Datt, chairman and managing director of BEL, presented the final dividend cheque of over Rs77 crore to the defence minister AK Antony today.

BEL, a premier defence PSU, paid 60 per cent interim dividend of Rs36,41,37 to the government in February this year. The company has so far paid total dividend of Rs113.50 crore to the government for the 2008-09 fiscal.

BEL recorded a turnover of Rs4,618 crore (provisional) for the year 2008-09 as against a turnover of Rs4,102.54 crore in the previous financial year.

The profit before tax was lower at Rs1,095 crore against last year's figure of Rs1,171.3 crore. BEL achieved exports of $17.75 million, an increase of 15 per cent over last year's figure of $15.43 million. Turnover per employee during 2008-09 increased to Rs38.6 lakh from Rs33.16 lakh the previous year. Value added per employee has also shown a considerable growth at Rs18 lakh from last year's Rs16 lakh.

BEL's order book as of 1 April  2009 is estimated to be worth around Rs10,000 crore.