State-run power equipment maker Bharat Heavy Electricals (BHEL) plans to diversify the operation of ISG into allied areas of business like iron ore beneficiation, pellet plants, sinter plants and coal washeries.
Industrial Systems Group (ISG), which is an arm of BHEL, posted a profit of Rs 161 crore in 2012-13, which is 7 per cent more than the previous year. The turnover is also up 16 per cent to Rs 1,161 crore in 2012-13 (Rs 1,003 crore). The value added increased 8 per cent, at Rs 263 crore, against Rs 243 crore last year.
The company plans to diversify into these areas in order to support its sustained growth with enhanced engineering, procurement and construction (EPC) capability.
ISG has an order book of Rs 3,692 crore as of end March 2013, which is 13 per cent more than Rs 3,271 crore in the previous year.
During the year the firm received orders in the non-industrial segment from Tirumala Tirupati Devasthanam (TTD) for an eco-friendly truck transportation system to facilitate fast transportation of laddus from storage to the selling counters.
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