BHEL pays final dividend of Rs 88 crore to govt of India for FY23
Bharat Heavy Electricals Limited (BHEL) has paid a final dividend of Rs.88 crore for the year 2022-23 to the government of India. The Indian government holds 63.17% stake in BHEL.
The total dividend paid to the company's shareholders for FY 2022-23 amounts to over Rs.139 crore. A cheque towards the final dividend on the equity held by the Government of India, was presented to Dr.
Mahendra Nath Pandey, Union Minister of Heavy Industries by Nalin Shinghal, Chairman and Managing Director, BHEL on Thursday.
Dividends are a form of reward that companies may choose to provide to their shareholders from a portion of their earnings. Recently, the central government had received about Rs 1,487 crore from the National Thermal Power Corporation (NTPC), India's largest power utility firm.
The revenue collection through dividends demonstrates the financial health and performance of these public sector companies.
It contributes to the government's efforts to manage its fiscal situation effectively.
Earlier in September, the government had also received substantial dividend tranches from Indian Oil Corporation Ltd (Rs 2,182 crore) and Bharat Petroleum Corporation Ltd (Rs 460 crore), indicating a favourable financial position for these energy giants.
In FY23, BHEL recorded revenue from operations of Rs.23,365 Crore, up 10% over the previous year. The company posted profit after tax (PAT) of Rs.448 crore with continued focus on cost control and prudent resource management.
During the year, BHEL commissioned 1,580 MW of power generating equipment, in addition to synchronising captive/solar projects of ~ 298 MW.
