annual report 2011-12 - Heavy Engineering Corporation Limited

ANNUAL REPORT 2011-12
DIRECTORS' REPORT
To
The Shareholders
Heavy Engineering Corporation Limited
Ladies and Gentlemen,
Heavy Engineering Corporation has completed its 53 years of service to the nation and the Directors of the Company have the pleasure to present the 53rd
Annual Report of the Company together with Audited Accounts for the year ended 31st March, 2012.
It is matter of great pride that your company continuously earned net profit for the 6th consecutive year and has been conferred BT – Star PSU Excellence
Award 2012 in Turn Around Category.
1. PERFORMANCE HIGHLIGHTS
We are happy to inform you that inspite of odds like labour unrest, stoppage of bank operation and delay in implementation of upgradation of some
of critical facilities your company has shown growth in terms of Gross sales. The gross sale has gone up by 6.5% over that of the last financial year.
The gross sales during the year has been ` 725.23 crore against ` 681.21 crore during the previous year.
2. PRODUCTION & SALES
The production & sales figures for the year as compared to the previous year and MOU targets are as follows:-
2011-12 2010-2011
MOU Actual MOU Actual
Gross Turnover 1000.00 725.23 700.00 681.21
Production 952.22 687.74 667.70 700.55
The Gross Sales, Production and productivity for the last ten years are given below:
(` in crore)
Gross Sales
` Crore
800
700
681
725
600
500
400
413
454
528
300
304
200
100
0
159 178
2004 -05 2005 -06 2006 -07 2007 -08 2008 -09 2009 -10 2010 -11 2011 -12
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