Mumbai, May 03, 2006 (Business Standard)

The engineering giant Bharat Earth Movers Ltd (BEML) has posted 11.8 per cent increase in its sales at Rs 860.14 crore for the fourth quarter of 2005-06 as against Rs 769.21 crore for the corresponding period last year.

Its profit before tax increased to Rs 130.67 crore and profit after tax was Rs 86.12 crore for the same period.

According to a company press release, BEML recorded 18.62 percent growth in its annualised sales turnover for the financial year 2005-06 touching Rs 2,201.65 crore from the previous year of Rs 1,856.01 crore. Profit before tax grew to Rs 280.11 crore and value of production stood at Rs 2,144 .94 crore.

On the export front, the company achieved a turnover of Rs 63 crore. The company has secured sizeable orders from the defence sector valued at Rs 800 crore bringing the order book position to Rs 2,550 crore for execution during 2006-07 and 2007-08.

BEML has also received a letter of intent for 312 metro coaches from Delhi Metro Rail Corporation and effort is on to convert the same into order shortly.

BEML has set for itself an ambitious diversification and business restructuring drive with Vision 2013 to achieve Rs 5,000 crore by FY 2013-14 to coincide with its golden jubilee year, the release added.