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BEML expects to recoup its below-target sales for fiscal 2012 and grow 37 per cent this year, its Chairman and Managing Director has said.
On the basis of new orders in the pipeline, “We are confident that in the current year, BEML will become a Rs 5,000-crore company,” Mr V.R.S. Natarajan told at a news conference on Friday.
A new corporate strategy crafted by IIM-B would be adopted next year.
It was counting on it to reach a turnover of Rs 10,000 crore in 2018-19.
The company missed its FY 2012 target of Rs 4,000 crore, making net sales of only Rs 2,692 crore.
Net profit of Rs 57 crore was 62 per cent lower than last year and Q4 ended in Rs 14 crore loss.
The company could not complete Rs 180 crore worth of orders for various reasons. The metro segment was sluggish.
“We had to take out almost Rs 300 crore of anticipated business,” he said.
Orders due
New orders worth Rs 5,000 crore were due from defence and rail businesses.
Orders worth Rs 7,066 crore were in hand, over half (Rs 3,767 crore) would be executed and the rest carried over to next year.
Normally, about 60 per cent comes from mining and construction; about 20-25 per cent from defence and the rest from rail-metro and others.
madhu@thehindu.co.in
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