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Bhel eyes more of export market

New Delhi, Feb. 7 (PTI): State-owned power equipment supplier Bharat Heavy Electricals Ltd (Bhel) said today it was eyeing an increase in its order bookings at around Rs 10,000 crore this fiscal, of which Rs 1000 crore was expected to come from exports.

“We are expecting to garner orders worth Rs 10,000 crore this fiscal as against Rs 9,800 crore the previous year. At the same time we are hoping to increase share of exports to Rs 1000 crore from Rs 800 crore last fiscal,” K.G. Ramachandran, Bhel chairman, told reporters here. He said according to the latest data, the company already had order bookings worth Rs 4,500 crore for the period April-January 2002-03 and order of over Rs 5000 crore were expected to be inked in the last two months of the fiscal.

Speaking on the sidelines of a global outsourcing conference organised by the Confederation of Indian Industry (CII), he said that the company was also hoping to clock a six per cent increase over last year in its top line sales this fiscal.

While declining to comment on a profit projection for the company, Ramachandran said that the increase in exports were primarily on account of the company’s successful foray into new markets in West Asia, CIS, east Europe, north Africa, Mediterranean, Far East, including China and Taiwan.

Ramachandran said Bhel has drawn up a comprehensive strategic plan for the next five years until 2007 under which it is eyeing a double digit growth of around 15 per cent. “The company has drawn up a detailed product-market matrix under which it proposes to launch at least one new product every year and capture one new market annually,” he said. The company was working on diversifying into new areas, particularly services such as operation and maintenance, it enabled services for power and engineering sector.

In addition to this, the company will also develop expertise in environment management and water management sectors for the domestic industry. Ramachandran said in order to provide a fillip to project exports, Bhel had recommended to the government that it set aside $ 1-2 billion from the foreign exchange reserves and give the same to Exim Bank which could then extend it as lines of credit for companies engaged in project exports.

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