State-owned BHEL has been ranked the ninth most innovative company in the world by the renowned US business magazine Forbes. BHEL is ranked much superior than similar multinational companies in the power equipment field and it is the only Indian engineering company on the list. The ranking is based on an eight-year study by Harvard Business School Professor Clayton M Christensen, along with Jeff Dyer, a professor at Brigham Young University, and Hal B Gregersen, a professor of leadership at INSEAD.
BHEL is among the biggest spenders on R&D in the world figuring in 'The Global Innovation 1000' of Booz & Co., a list of 1,000 publicly-traded companies. During fiscal 2010-11, BHEL invested Rs 1,005 crore on R&D efforts, 21% higher than the previous year. Commercialization of products and systems developed by way of in-house R&D contributed around 18% to the company's total turnover of Rs 43,337 crore in 2010-11.
The company ‘s net profit for the quarter has increased by 22.15% at Rs 815.51 crore as compared to Rs 667.65 crore for the quarter ended June 30, 2010. Its total income has increased by 11.17% at Rs 7520.11 crore for the quarter from Rs 6764.49 crore for the Q1FY11.