By IANS,
Chennai : Energy equipment supplier, BGR Energy Systems Ltd, announced Thursday that it had posted a revenue of Rs.15.04 billion ($358 million) for 2007-08 against Rs.7.75 billion the previous fiscal.
The net profit of the company for the year under review is Rs.840 million as compared to Rs.391 million of 2006-07. The company’s board has recommended a dividend of 20 percent (Rs.2 per share).
Announcing the results here, company chairman B.G. Raghupathy said: “Around Rs.12.4 billion of the revenue earned is from the power sector and the balance from supply of products and other sectors like oil and gas.”
He said the order book position of the company stood at Rs.32.12 billion.
“The company hopes to book orders around Rs.90 billion this year of which 90 percent will be in the power sector,” Raghupathy added.
Finance director S. Rathinam said: “We may need around Rs.5 billion as working capital. Last fiscal, the working capital need was around Rs.4.5 billion.”
BGR Energy has chalked out Rs.800 million expansion programme including the setting up of a new air fin cooler plant in the Middle East at an investment of Rs.430 million.
“The idea is to double our capacity to 1,800 bundles – the air fin cooler capacity is measured in bundles,” Rathinam added.