Description
It describes about Industry Trends of Heavy electrical industry, PEST Analysis of heavy electrical industry, Competitor Analysis, SWOT analysis, Company Description, General Information about BHEL, it's Finance performance, SWOT analysis BHEL and Various Strategies employed.
Heavy Electrical Industry
Heavy Electrical Industry covers power generation, transmission, and distribution and utilization equipments. These include turbo generators, boilers, various types of turbines, transformers, switchgears and other allied items. Majority of the products manufactured by heavy electrical industry in the country, which includes items like transformers, switchgears etc. are used by all sectors of the Indian economy. Some major areas where these are used are the multi core projects for power generation including nuclear power stations, petrochemical complexes, chemical plants, integrated steel plants, non-ferrous metal units, etc. The industry has been upgrading the existing technology and is now capable of taking up turnkey contracts also for export markets. The industry has been delicensed. Foreign collaborations are allowed with 100 percent FDI. The country is planning to add 150,000 MW power generation capacities in the next 10 years. This will generate substantial demand for heavy electrical equipments. The heavy electrical industry is capable of manufacturing transmission and distribution equipment up to 400 KV AC and high voltage DC. The industry has taken up the work of upgradation and transmission to the next higher voltage system of 765 KV and have upgraded their manufacturing facilities to supply 765 KV class transformers, reactors, CTS, CVT, bushing and insulators, etc. The investments in R & D by the electrical industry are amongst the largest in the corporate sector in India. Large electrical equipment used in steel plants, petrochemical complexes and other such heavy industries are also being manufactured in the country. The domestic heavy electrical equipment manufacturers are making use of the developments of the global market with respect to product designs and upgrading of manufacturing and testing facilities. The heavy electrical industry has established its reference in the global arena also. These encompass thermal, hydro and gas based power plants, substation projects, rehabilitation projects, besides a wide variety of products like transformers, photo voltaic equipments, insulators, switchgears, motors, etc. Major Players BHEL is the largest engineering and manufacturing enterprise in India in the energyrelated/infrastructure sector, today. BHEL was established more than 40 years ago, ushering in the indigenous Heavy Electrical Equipment industry in India – a dream that has been more than realized with a well-recognized track record of performance. The company has been earning profits continuously since 1971-72 and paying dividends since 1976-77.
Andrew Yule & Co. Ltd. Andrew Yule & Co. Ltd. is a medium-large (~Rs. 6 Billion / US$ 124 mm) Indian manufacturing and industrial conglomerate, approximately 97.5% owned by the Indian Government. It is the main company owned by the Yule Group .It was incorporated as a private company in 1919. After India gained independence from the British empire, the company was turned into a public company in 1948.It is currently headquartered in Kolkata (formerly Calcutta), and has offices in the main Indian cities. The majority of the products and services offered by the company’s subsidiaries are related to heavy industry and engineering.
L&T Larsen & Toubro (L&T) is India's largest engineering company with expertise in wide areas like infrastructure, oil and gas, power and process. The company has broadly segregated its business into three key segments - Engineering and Construction (E&C), Electrical & Electronics (E&E) and Machinery & Industrial Products (MIP). While E&C contributed to around 75.3% of L&T's FY11 revenues, E&E's contribution was 7.3%.
Heavy electrical leading players:
Categories Transformer Switchgears Steam &hydro turbines Boilers Players Crompton Greeves, BHEL, Vijay Electricals, Emco, BharatBijlee ABB, Siemens, L&t,BHEL BHEL, Triveni Engg BHEL, Thermax
Bharat Heavy Electricals Ltd. (BHEL)
BHEL was established in 1964 with an objective to have an indigenous Heavy Electrical Equipment industry in India. It is an integrated power plant equipment manufacturer and one of the oldest and largest engineering and manufacturing company in India. It is the twelfth largest power equipment manufacturer in the world .The company is engaged in the core sectors of economy which are Power, Transmission, Industry, Transportation, Railways, Renewable Energy, Oil & Gas and Defence. It is one of the Navratnas (now 16), the name given to the Public Sector Enterprises identified by the Government of India. The company has 15 manufacturing divisions, two repair units, four regional offices, eight service centers, eight overseas offices and 15 regional centers and currently operates at more than 150 project sites across India and abroad. Its registered and corporate office is located in New Delhi. BHEL manufactures almost all critical high technology products required for power sector like Gas Turbines, Steam Turbines, Turbo generators, Boilers, Pumps and Heat exchangers, Pulverisers and electrical switch gears. It is one of the largest exporters of India. They have been exporting their power and industry segment products and services for approximately 40 years. They have exported their products and services to more than 70 countries, ranging from the United States in the West to New Zealand in the Far East. . Its export range include: individual products to complete power stations, turnkey contracts for power plants, EPC contracts, HV/EHV Sub-stations, O&M services for familiar technologies, specialized after-market services like Residual Life Assessment (RLA) studies and retrofitting, refurbishing & overhauling, and supplies to manufacturers & EPC contractors. They have a share of around 59% in India's total installed generating capacity contributing 69% (approx.) to the total power generated from utility sets (excluding nonconventional capacity) as of March 31, 2012. They work with a vision of becoming a world-class engineering enterprise, committed to enhancing stakeholder value. Their greatest strength is their highly skilled and committed workforce of over 49,000 employees. Every employee is given an equal opportunity to develop himself and grow in his career. Continuous training and retraining, career planning, a positive work culture and participative style of management - all these have engendered development of a committed and motivated workforce setting new benchmarks in terms of productivity, quality and responsiveness. The high level of quality & reliability of their products is due to adherence to international standards by acquiring and adapting some of the best technologies from leading companies in the world including General Electric Company, Alstom SA, Siemens AG and Mitsubishi Heavy Industries Ltd., together with technologies developed in our own R&D centers. Most of our manufacturing units and other entities have been accredited to Quality Management Systems (ISO 9001:2008), Environmental Management Systems (ISO 14001:2004) and Occupational Health & Safety Management Systems (OHSAS 18001:2007).
BHEL is the largest engineering and manufacturing enterprise of India in the energy & infrastructure related sectors. BHEL is amongst world’s rarest few who have the capability to manufacture entire range of power plant equipment besides establishing substantial inroads in select segment of products in Industrial sector and Railways. The company has realized the capability to deliver 15,000 MW power equipment capacities per annum and further expansion program to reach 20,000 MW per annum by 2012 is underway. The product range of the company comprises of 180 products in different areas like power, transmission, industry, transportation, non- conventional energy sources and research and development products. Range of products: ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Thermal power plants Gas based power plants Hydro power plants Dg power plants Industrial sets Boilers Boiler auxiliaries Heat exchangers and pressure vessels Pumps Power station control equipment Switchgears Bus ducts Transformers Insulators Capacitors Energy meters
BHEL has ? ? ? ? ? Installed equipment for over 90,000 MW of power generation - for Utilities, Captive and Industrial users. Supplied over 2,25,000 MVA transformer capacity and other equipment operating in Transmission & Distribution network up to 400 kV (AC & DC). Supplied over 25,000 Motors with Drive Control System to Power projects, Petrochemicals, Refineries, Steel, Aluminum, Fertilizer, Cement plants, etc. Supplied Traction electrics and AC/DC locos to power over 12,000 kms Railway network. Supplied over one million Valves to Power Plants and other Industries.
Financial analysis:
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BHEL notched up its highest ever turnover of Rs 49, 301 crore, registering a growth of 19.4% over previous year. Profit before tax (PBT) surged 17.8% at Rs.10, 001 crore, during the year, compared to Rs 8,487 crore in the year before. Net Profit (PAT) rose 21.2% at Rs 6.868 crore against Rs 5,665 crore in the previous year. During the year highest ever interim equity dividend of 136% was paid for 2011-12, maintaining the track record of paying dividends uninterruptedly since 1976-77. Earnings per Share stood at Rs 28.06 an increase of 21. 2 % over that of 2010-2011. Net Asset Value (NAV) per share stood at Rs. 101.9 reflecting the intrinsic strength of the company. Total export turnover (physical +deemed) touched Rs. 22,014 crore.
SWOT analysis:
Strength? ? ? ? ? ? ? ? ? ? Relatively stable industrial relationship. Access to contemporary technologies with the support from renowned collaborators. Ability to set up power plants on turnkey basis, complete know- how for manufacture of entire equipment is available with the company. Ability to manufacture or procure to supply spares. Fully equipped to take capital maintenance and servicing of the power plants. Largest source of domestic business leading to major presence and influence in the market. Ability to successfully overhaul and renovate power stations equipment of different international companies. For non- BHEL products, services and spares are not easily available and if they are, price charged are very high. Sound financial position in terms of profitability and solvency. Low debt equity ratio (even lower than 0.5:1) for all the years under study, enabling company to raise capital.
Weakness? ? ? ? ? Difficulty in keeping up the commitments on the product delivery and desired sequence of supplies. Larger delivery cycles in comparison with international suppliers of similar equipment. Inability to provide supplier’s credit, soft loans and financing of power projects. Lack of effective marketing infrastructure. Due to poor financial position of state electricity boards, which are the major customers of BHEL in India, liquidity position of BHEL is not satisfactory. Being a public sector company BHEL is suffering from sub optimality of control due to: 1. Displacement of social objectives by political objectives, which may lead to redundant costs and also rising costs. 2. Direct political intervention in managerial decision over an arm length relationship that would restrict government’s task of setting appropriate managerial incentive structure. 3. Private goals that lead to budget growth and employment growth. 4. Internal inefficiencies in bureaucratic activity.
Opportunities? ? ? ? ? ? ? Demand for power and hence plant equipment is expected to grow. Private sector power plants to offer expanded market as utilities suffers resource crunch. Ageing power plants would give rise to more spares and services business. Life expansion program for old power stations. Export opportunities. Easy processing of joint ventures/ collaboration/import/ acquisition of new technology. Financial and operational autonomy for profit making public sector enterprises. To make the public sector more efficient government has decided to grant enhanced autonomy and delegation of powers to the profit making public sector enterprises.
Threats ? ? ? ? Increased competition both national and international. Multilateral agencies reluctant to lend to power sector because of poor financial management of S.E.Bs More concessions to private sector and not to government owned utilities like NTPC or S.E.Bs, so future power projects would be opened up in private sector. Level playing ground not available, foreign companies spending much more on business promotion tactics.
Competition :
Industries Where Bharat Heavy Electricals Limited Competes
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Transformer Manufacturing Electrical Products Manufacturing Motor & Generator Manufacturing Switch, Connector & Other Wiring Device Manufacturing Commercial Equipment Repair & Maintenance
Research and development:
To remain competitive and meet customers' expectations, BHEL lays great emphasis on the continuous upgradation of products and related technologies, and development of new products. BHEL's commitment to advancement of technology is reflected in its involvement in the development of futuristic technologies like fuel cells and superconducting generators. BHEL's investment in R&D is amongst the largest in the corporate sector in India. During the year 2011-12, BHEL invested Rs.11,620 Million on R&D efforts- 18% higher than the previous year. R&D and technology development are of strategic importance to BHEL as it operates in a competitive environment where technology is a key driver. Technology development efforts undertaken by BHEL have led to the filing of patents and copyrights at the rate of nearly one a day, significantly enhancing the company's intellectual capital. In 2011-12, BHEL filed 351 patents and copyrights, enhancing the company's intellectual capital to 1,786 patents and copyrights filed, which are in productive use in the company's business. The company established four new Centers of Excellence, taking the total tally 13.
Health, Safety and Environment policy of the company:
BHEL has joined the "Global Compact" of United Nations and has committed itself to support it and the set of core values enshrined in its ten principles. The "Global Compact" is a partnership between the United Nations, the business community, international labour and NGOs. It provides a forum for them to work together and improve corporate practices through co-operation rather than confrontation. BHEL has developed a CSR Scheme and its Mission Statement on CSR is "Be a Committed Corporate Citizen, alive towards its Corporate Social Responsibility". BHEL's contributions towards Corporate Social Responsibility till date include adoption of villages, free medical camps/charitable dispensaries, schools for the underprivileged and handicapped children, ban on child labour, disaster/natural calamity aid, Employment for handicapped, Widow resettlement, Employment for Exserviceman, irrigation using treated sewage, pollution checking camps, plantation of millions of trees, energy saving and conservation of natural resources through environmental management.
Awards and Achievements: ? ? ? It is the 12th largest power equipment manufacturer in the world. In the year 2011, it ranked ninth most innovative company in the world by US business magazine Forbes. BHEL is the only Indian Engineering company on the list, which contains online retail firm Amazon at the second position with Apple and Google at fifth and seventh positions, respectively. It is also placed at 4th place in Forbes Asia's Fabulous 50 List of 2010.
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References: 1. Official website of BHEL 2. Wikipedia 3. www.Indianpowersctor.com
doc_296573362.docx
It describes about Industry Trends of Heavy electrical industry, PEST Analysis of heavy electrical industry, Competitor Analysis, SWOT analysis, Company Description, General Information about BHEL, it's Finance performance, SWOT analysis BHEL and Various Strategies employed.
Heavy Electrical Industry
Heavy Electrical Industry covers power generation, transmission, and distribution and utilization equipments. These include turbo generators, boilers, various types of turbines, transformers, switchgears and other allied items. Majority of the products manufactured by heavy electrical industry in the country, which includes items like transformers, switchgears etc. are used by all sectors of the Indian economy. Some major areas where these are used are the multi core projects for power generation including nuclear power stations, petrochemical complexes, chemical plants, integrated steel plants, non-ferrous metal units, etc. The industry has been upgrading the existing technology and is now capable of taking up turnkey contracts also for export markets. The industry has been delicensed. Foreign collaborations are allowed with 100 percent FDI. The country is planning to add 150,000 MW power generation capacities in the next 10 years. This will generate substantial demand for heavy electrical equipments. The heavy electrical industry is capable of manufacturing transmission and distribution equipment up to 400 KV AC and high voltage DC. The industry has taken up the work of upgradation and transmission to the next higher voltage system of 765 KV and have upgraded their manufacturing facilities to supply 765 KV class transformers, reactors, CTS, CVT, bushing and insulators, etc. The investments in R & D by the electrical industry are amongst the largest in the corporate sector in India. Large electrical equipment used in steel plants, petrochemical complexes and other such heavy industries are also being manufactured in the country. The domestic heavy electrical equipment manufacturers are making use of the developments of the global market with respect to product designs and upgrading of manufacturing and testing facilities. The heavy electrical industry has established its reference in the global arena also. These encompass thermal, hydro and gas based power plants, substation projects, rehabilitation projects, besides a wide variety of products like transformers, photo voltaic equipments, insulators, switchgears, motors, etc. Major Players BHEL is the largest engineering and manufacturing enterprise in India in the energyrelated/infrastructure sector, today. BHEL was established more than 40 years ago, ushering in the indigenous Heavy Electrical Equipment industry in India – a dream that has been more than realized with a well-recognized track record of performance. The company has been earning profits continuously since 1971-72 and paying dividends since 1976-77.
Andrew Yule & Co. Ltd. Andrew Yule & Co. Ltd. is a medium-large (~Rs. 6 Billion / US$ 124 mm) Indian manufacturing and industrial conglomerate, approximately 97.5% owned by the Indian Government. It is the main company owned by the Yule Group .It was incorporated as a private company in 1919. After India gained independence from the British empire, the company was turned into a public company in 1948.It is currently headquartered in Kolkata (formerly Calcutta), and has offices in the main Indian cities. The majority of the products and services offered by the company’s subsidiaries are related to heavy industry and engineering.
L&T Larsen & Toubro (L&T) is India's largest engineering company with expertise in wide areas like infrastructure, oil and gas, power and process. The company has broadly segregated its business into three key segments - Engineering and Construction (E&C), Electrical & Electronics (E&E) and Machinery & Industrial Products (MIP). While E&C contributed to around 75.3% of L&T's FY11 revenues, E&E's contribution was 7.3%.
Heavy electrical leading players:
Categories Transformer Switchgears Steam &hydro turbines Boilers Players Crompton Greeves, BHEL, Vijay Electricals, Emco, BharatBijlee ABB, Siemens, L&t,BHEL BHEL, Triveni Engg BHEL, Thermax
Bharat Heavy Electricals Ltd. (BHEL)
BHEL was established in 1964 with an objective to have an indigenous Heavy Electrical Equipment industry in India. It is an integrated power plant equipment manufacturer and one of the oldest and largest engineering and manufacturing company in India. It is the twelfth largest power equipment manufacturer in the world .The company is engaged in the core sectors of economy which are Power, Transmission, Industry, Transportation, Railways, Renewable Energy, Oil & Gas and Defence. It is one of the Navratnas (now 16), the name given to the Public Sector Enterprises identified by the Government of India. The company has 15 manufacturing divisions, two repair units, four regional offices, eight service centers, eight overseas offices and 15 regional centers and currently operates at more than 150 project sites across India and abroad. Its registered and corporate office is located in New Delhi. BHEL manufactures almost all critical high technology products required for power sector like Gas Turbines, Steam Turbines, Turbo generators, Boilers, Pumps and Heat exchangers, Pulverisers and electrical switch gears. It is one of the largest exporters of India. They have been exporting their power and industry segment products and services for approximately 40 years. They have exported their products and services to more than 70 countries, ranging from the United States in the West to New Zealand in the Far East. . Its export range include: individual products to complete power stations, turnkey contracts for power plants, EPC contracts, HV/EHV Sub-stations, O&M services for familiar technologies, specialized after-market services like Residual Life Assessment (RLA) studies and retrofitting, refurbishing & overhauling, and supplies to manufacturers & EPC contractors. They have a share of around 59% in India's total installed generating capacity contributing 69% (approx.) to the total power generated from utility sets (excluding nonconventional capacity) as of March 31, 2012. They work with a vision of becoming a world-class engineering enterprise, committed to enhancing stakeholder value. Their greatest strength is their highly skilled and committed workforce of over 49,000 employees. Every employee is given an equal opportunity to develop himself and grow in his career. Continuous training and retraining, career planning, a positive work culture and participative style of management - all these have engendered development of a committed and motivated workforce setting new benchmarks in terms of productivity, quality and responsiveness. The high level of quality & reliability of their products is due to adherence to international standards by acquiring and adapting some of the best technologies from leading companies in the world including General Electric Company, Alstom SA, Siemens AG and Mitsubishi Heavy Industries Ltd., together with technologies developed in our own R&D centers. Most of our manufacturing units and other entities have been accredited to Quality Management Systems (ISO 9001:2008), Environmental Management Systems (ISO 14001:2004) and Occupational Health & Safety Management Systems (OHSAS 18001:2007).
BHEL is the largest engineering and manufacturing enterprise of India in the energy & infrastructure related sectors. BHEL is amongst world’s rarest few who have the capability to manufacture entire range of power plant equipment besides establishing substantial inroads in select segment of products in Industrial sector and Railways. The company has realized the capability to deliver 15,000 MW power equipment capacities per annum and further expansion program to reach 20,000 MW per annum by 2012 is underway. The product range of the company comprises of 180 products in different areas like power, transmission, industry, transportation, non- conventional energy sources and research and development products. Range of products: ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Thermal power plants Gas based power plants Hydro power plants Dg power plants Industrial sets Boilers Boiler auxiliaries Heat exchangers and pressure vessels Pumps Power station control equipment Switchgears Bus ducts Transformers Insulators Capacitors Energy meters
BHEL has ? ? ? ? ? Installed equipment for over 90,000 MW of power generation - for Utilities, Captive and Industrial users. Supplied over 2,25,000 MVA transformer capacity and other equipment operating in Transmission & Distribution network up to 400 kV (AC & DC). Supplied over 25,000 Motors with Drive Control System to Power projects, Petrochemicals, Refineries, Steel, Aluminum, Fertilizer, Cement plants, etc. Supplied Traction electrics and AC/DC locos to power over 12,000 kms Railway network. Supplied over one million Valves to Power Plants and other Industries.
Financial analysis:
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BHEL notched up its highest ever turnover of Rs 49, 301 crore, registering a growth of 19.4% over previous year. Profit before tax (PBT) surged 17.8% at Rs.10, 001 crore, during the year, compared to Rs 8,487 crore in the year before. Net Profit (PAT) rose 21.2% at Rs 6.868 crore against Rs 5,665 crore in the previous year. During the year highest ever interim equity dividend of 136% was paid for 2011-12, maintaining the track record of paying dividends uninterruptedly since 1976-77. Earnings per Share stood at Rs 28.06 an increase of 21. 2 % over that of 2010-2011. Net Asset Value (NAV) per share stood at Rs. 101.9 reflecting the intrinsic strength of the company. Total export turnover (physical +deemed) touched Rs. 22,014 crore.
SWOT analysis:
Strength? ? ? ? ? ? ? ? ? ? Relatively stable industrial relationship. Access to contemporary technologies with the support from renowned collaborators. Ability to set up power plants on turnkey basis, complete know- how for manufacture of entire equipment is available with the company. Ability to manufacture or procure to supply spares. Fully equipped to take capital maintenance and servicing of the power plants. Largest source of domestic business leading to major presence and influence in the market. Ability to successfully overhaul and renovate power stations equipment of different international companies. For non- BHEL products, services and spares are not easily available and if they are, price charged are very high. Sound financial position in terms of profitability and solvency. Low debt equity ratio (even lower than 0.5:1) for all the years under study, enabling company to raise capital.
Weakness? ? ? ? ? Difficulty in keeping up the commitments on the product delivery and desired sequence of supplies. Larger delivery cycles in comparison with international suppliers of similar equipment. Inability to provide supplier’s credit, soft loans and financing of power projects. Lack of effective marketing infrastructure. Due to poor financial position of state electricity boards, which are the major customers of BHEL in India, liquidity position of BHEL is not satisfactory. Being a public sector company BHEL is suffering from sub optimality of control due to: 1. Displacement of social objectives by political objectives, which may lead to redundant costs and also rising costs. 2. Direct political intervention in managerial decision over an arm length relationship that would restrict government’s task of setting appropriate managerial incentive structure. 3. Private goals that lead to budget growth and employment growth. 4. Internal inefficiencies in bureaucratic activity.
Opportunities? ? ? ? ? ? ? Demand for power and hence plant equipment is expected to grow. Private sector power plants to offer expanded market as utilities suffers resource crunch. Ageing power plants would give rise to more spares and services business. Life expansion program for old power stations. Export opportunities. Easy processing of joint ventures/ collaboration/import/ acquisition of new technology. Financial and operational autonomy for profit making public sector enterprises. To make the public sector more efficient government has decided to grant enhanced autonomy and delegation of powers to the profit making public sector enterprises.
Threats ? ? ? ? Increased competition both national and international. Multilateral agencies reluctant to lend to power sector because of poor financial management of S.E.Bs More concessions to private sector and not to government owned utilities like NTPC or S.E.Bs, so future power projects would be opened up in private sector. Level playing ground not available, foreign companies spending much more on business promotion tactics.
Competition :
Industries Where Bharat Heavy Electricals Limited Competes
? ? ? ? ?
Transformer Manufacturing Electrical Products Manufacturing Motor & Generator Manufacturing Switch, Connector & Other Wiring Device Manufacturing Commercial Equipment Repair & Maintenance
Research and development:
To remain competitive and meet customers' expectations, BHEL lays great emphasis on the continuous upgradation of products and related technologies, and development of new products. BHEL's commitment to advancement of technology is reflected in its involvement in the development of futuristic technologies like fuel cells and superconducting generators. BHEL's investment in R&D is amongst the largest in the corporate sector in India. During the year 2011-12, BHEL invested Rs.11,620 Million on R&D efforts- 18% higher than the previous year. R&D and technology development are of strategic importance to BHEL as it operates in a competitive environment where technology is a key driver. Technology development efforts undertaken by BHEL have led to the filing of patents and copyrights at the rate of nearly one a day, significantly enhancing the company's intellectual capital. In 2011-12, BHEL filed 351 patents and copyrights, enhancing the company's intellectual capital to 1,786 patents and copyrights filed, which are in productive use in the company's business. The company established four new Centers of Excellence, taking the total tally 13.
Health, Safety and Environment policy of the company:
BHEL has joined the "Global Compact" of United Nations and has committed itself to support it and the set of core values enshrined in its ten principles. The "Global Compact" is a partnership between the United Nations, the business community, international labour and NGOs. It provides a forum for them to work together and improve corporate practices through co-operation rather than confrontation. BHEL has developed a CSR Scheme and its Mission Statement on CSR is "Be a Committed Corporate Citizen, alive towards its Corporate Social Responsibility". BHEL's contributions towards Corporate Social Responsibility till date include adoption of villages, free medical camps/charitable dispensaries, schools for the underprivileged and handicapped children, ban on child labour, disaster/natural calamity aid, Employment for handicapped, Widow resettlement, Employment for Exserviceman, irrigation using treated sewage, pollution checking camps, plantation of millions of trees, energy saving and conservation of natural resources through environmental management.
Awards and Achievements: ? ? ? It is the 12th largest power equipment manufacturer in the world. In the year 2011, it ranked ninth most innovative company in the world by US business magazine Forbes. BHEL is the only Indian Engineering company on the list, which contains online retail firm Amazon at the second position with Apple and Google at fifth and seventh positions, respectively. It is also placed at 4th place in Forbes Asia's Fabulous 50 List of 2010.
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References: 1. Official website of BHEL 2. Wikipedia 3. www.Indianpowersctor.com
doc_296573362.docx