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Tuesday, June 22, 2010

RAIL & METRO BUSINESS GROW IN BEML.

BEML REGISTERED GROWTH OF 18% IN SALES AND POSTED A SALES OF Rs.3558 CRORES DURING THE YEAR 2009-10.

Rail and Metro Busines achieved a phenomenal growth of 114% and Defence business grew by 14%.

BEMLposted a Profit before tax of Rs.320 crores and wrapped up the year 2009-10 with an order book of Rs.5206 crores for 2010-11 and beyond.

The company has set a sales target of Rs.4200 crores for 2010-11 and Rs.5000 crores for 2011-12.

Addressing the media Mr.V.RS.natarajan said that the company has acquired the assets of MAMC along with consortium partners Coal India Ltd. and Damodar Valley corporation for diversifying into Underground mining equipment.The company has invested an amount of rs.100 crores to accquire the assets.The company will also be investing another Rs.200 crores as equity in the JV company.

BEML's share holdings is as follows: Government:56%,Indian Public & others:44%,of which FII"s hold 13%. The company has declared a dividend of 1005 for the year 2009-10.