Equipment major Bharat Heavy Electricals Ltd (BHEL) is well on track to ramp up its manufacturing capacity to 20,000 MW by March, 2012.
Speaking at the state-owned firm's 47th Annual General Meeting here on Tuesday, BHEL's Chairman and Managing Director, Mr B P Rao, said the company's capacity addition strategy for the current financial year also envisages an improvement in product cost-competitiveness and quality.
BHEL clocked a profit of Rs 9,006 crore for the 2010-11 fiscal and an all-time-high turnover of Rs 43,337 crore, he added.
The company secured orders worth a record Rs 60,507 crore in 2010-11.
With a cumulative order book of over Rs 1,64,145 crore at the close of the financial year, the company expects to achieve robust growth in 2011-12 and beyond, Mr Rao added.
Outlining the trends in the power sector, he said that environmental compulsions are driving the demand for sustainable development worldwide.
As a step in this direction, BHEL also plans to develop economically viable solar power equipment and it would be the company's focus area this fiscal.
BHEL is also developing Advanced Ultra Supercritical (Adv-USC) technology, in association with the Indira Gandhi Centre for Atomic Research (IGCAR) and NTPC, as part of the National Mission for Development of Clean Coal (Carbon) Technologies.