Defence PSU BEML has reported a Rs 14 crore loss during the fourth quarter of 2011-12 compared to a net profit of Rs 70.25 crore in the year ago period.
BEML CMD V R S Natarajan attributed the loss to sluggish industrial growth and non-materialisation of some orders it had from other companies.
Briefing reporters on the company’s financial performance,he said its export order of about Rs 100 crore was affected during the fourth quarter.
Besides,businesses of about Rs 200 crore in mining,Rs 150 crore in Metro section and Rs 80 crore in Defence was also affected,he said.
“For the current year,the management has fixed a target of Rs 5,000 crore revenue with a growth of 37 per cent”,he said
BEML is expected to achieve a turnover of Rs 10,000 crore in the next six years by 2018-19,he said.
Natarajan said the company was looking at higher quantum of orders for manufacture of Metro Rail coach ,as the government would be spending about Rs one lakh crore on this project.
BEML is also diversifying into Aerospace business and spending Rs 455 crore in the first phase on its unit in Bangalore. “Tatra is not the only product on which BEML depends for its business”,he said.
The first phase of the aerospace unit was likely to be operationalised by this September or October.
The second unit of rail coach in Kolar Gold Fields has started production with a target to produce 280 to 300 coaches per annum.In the next two to three years,the rail and metro business will be about Rs 3,000 crore,he said.
Natarajan said his company being the partners for DMD,Slovakia for wheeled guns,is in the final stages of offering 155 mm wheeled guns.
He also said BEML had signed an MoU with OBRUM,a leading research and development,modernisation and production enterprise of Poland,during ‘DEFEXPO 2010.’
“The MoU envisages joint designing and development of various products such as Armoured Recovery and Repair Vehicle on Arjun,Futuristic Main Battle Tank,Overhaul of T-72 and BMP-II among others,” he said.
The project for development of Armoured Recovery and Repaired Vehicle on Arjun is promoted and co-ordinated by CVRDE,Chennai and is funded by DRDO,Natarajan said.
“Through this MoU both BEML and OBRUM will target the huge Indian defence market and address the opportunities that are going to come up,” he said.
BEML is a multi-technology and multi-location company offering high-quality products for diverse sectors of economy such as Defence,Mining and Construction,Rail and Metro,Technology services and Aerospace,Natarajan said.