Keen to expand its overseas operations, especially in African market, state-owned power equipment maker BHEL is targeting to increase its revenue from exports to Rs 4,500 crore this fiscal and may pick up stake in ventures abroad. About 8-10% of the company's turnover is contributed by exports. In FY11, the company has clocked about Rs 4,000 crore from the export market, this year too it expects it to remain in the similar range. The company is, however, working on a strategic plan and will announce new targets for export revenues in next 5-6 months. The company is growing manifold in the international markets and is focused especially on Africa.
The company’s focus for exports has been Africa, South-East Asia, Gulf countries. Africa is definitely a very big focus area for the company. Although BHEL reported lower export revenues from its key markets like Africa and Middle East, the company is still positive about generating 8-10% of its annual revenues from exports, same as the previous fiscal. BHEL has appointed advisors to guide the company and scout for right opportunities to participate in the overseas ventures. The company has not earmarked a dedicated corpus for picking up stake abroad. However, it has over Rs 9,000 crore cash surplus and funds would not be a problem if good opportunity comes.