However, the company's net profit and operational income were below an average analyst estimate of Rs 4.76 billion and Rs 110.11 billion, respectively.
“Prudent strategies of garnering higher market share in a shrunken and highly competitive business environment enabled BHEL to book orders worth Rs 409.32 billion in FY 2017-18. Significantly, this is a quantum jump of 74% over FY 2016-17. The orders comprise of Rs 333.42 billion in the Power segment and Rs75.90 billion in the industry and overseas segments combined. Significantly, BHEL has maintained its leadership position with 100% market share in the conventional thermal power equipment business. With this, BHEL has ended the year with a total order book of over Rs 1.18 trillion-highest in last five years,” the company said in a press release.
The board has recommended final dividend @ 51% (Rs 1.02 per share) on the paid up share capital of the company for FY 2017-18.
At 12:45 pm; the stock was trading 8% higher at Rs 85.30 on the BSE, as compared to 0.21% decline in the S&P BSE Sensex. The trading volumes on the counter jumped more than four-fold with a combined 31.25 million shares changed hands on the BSE and NSE so far.