Bharat Heavy Electricals (BHEL) secured orders worth Rs 308.14 billion, an increase of 10% over the previous year, in intensely competitive domestic and overseas markets. Despite severe market shrinkage and stiff competition in the power sector, BHEL maintained its leadership position with a market share of 72% for the second consecutive year.

By expanding its offerings, the company secured 89% of its total orders in the power sector on EPC (Engineering, Procurement & Construction) basis. At the end of the year total orders in hand for execution in 2015-16 and beyond, stand at Rs 1,010.18 billion.

In a constrained business environment, the company demonstrated tremendous resilience and achieved a Turnover of Rs 309.47 billion and a net profit of Rs 14.19 billion during 2014-15. Consequently, a total dividend of Rs 2.84 billion, has been declared for 2014-15, which is 58% of the paid-up capital (including an interim dividend of 27%), maintaining its track record of paying dividends uninterruptedly since 1976-77, he added.

Shares of the company declined Rs 5.75, or 2.77%, to settle at Rs 201.65. The total volume of shares traded was 562,757 at the BSE (Tuesday).