BHEL’s 2QFY18 results came in well below expectations with a reported EBITDA loss. Company would have reported a loss if not for the 98% y-o-y rise in other income to Rs 6 billion. Other expenses rose 36% y-o-y (ex of Rs 2.5 billion wage revision expense) on a 4% y-o-y revenue decline. Management indicated there is no one-off expense in the same. Given no visibility on material reduction in debtors or market pie expansion, we maintain Underperform. Giving benefit of revenue recovery due to Yadadri BHEL’s revenues declined 4% y-o-y to Rs 63 billion v/s expectations of a 7% y-o-y rise. Management didn’t really highlight GST implementation as a reason for revenue deferment, but discussed general revenue recognition milestones impacting the same.
State-run power equipment maker BHEL today said it has bagged an order worth Rs 350 crore for setting up two 765 kV substations in West Bengal. This is the largest value 765 kV substation project order for BHEL so far, it said in a statement. The order has been placed on BHEL by Powergrid Medinipur-Jeerat Transmission Ltd (PMJTL), a wholly-owned subsidiary of Power Grid Corp. The project has to be completed on Engineering, Procurement & Construction (EPC) basis. BHEL’s scope of work in the contract envisages constructing two large sized greenfield 3,000 MVA, 765/400 kV substations, at Medinipur and Jeerat (near Kolkata).
Kolkata, Nov 7 () The state-owned power equipment major, Bharat Heavy Electricals Limited (BHEL) is aiming at doubling the non-power revenue by 2022 and the projects will be executed on a turnkey basis.
The areas like municipal water, Ganga mission, solar, aerospace, defense and metro and high speed rail projects have been identified as growth drivers. "Currently, our non-power business is 20 per cent and we are aiming at doubling it to 40 per cent by 2022," BHEL Director Amitabh Mathur told . "Unless, we take turnkey projects like we do in power, topline will not be high," he said.
State-run power equipment maker BHEL on Monday said it has commenced execution of Rs 20,400-crore Yadadri supercritical thermal power project ordered by the Telangana State Power Generation Corporation.
"The execution of the 4,000 MW Yadadri Supercritical Thermal Power Project ordered on Bharat Heavy Electricals Limited (BHEL) by Telangana State Power Generation Corporation Limited (TSGENCO) has commenced with the issuance of revised Letter of Intent by TSGENCO," BHEL said in a regulatory filing.
New Delhi: State-owned power equipment maker Bhel has received shareholders’ approval for the proposal to issue 1 new equity bonus share for every 2 existing shares.
The proposal to issue bonus share in the ratio of one bonus share for every 2 existing shares to members was listed on the agenda for annual general meeting held on 22 September, 2017, which as passed by the requisite majority, Bharat Heavy Electricals Ltd (Bhel) said in a BSE filing on Monday.
NEW DELHI: State-owned power equipment maker BHEL-2.52 % today said it will create a diversified portfolio for its next wave of growth that will include areas like solar energy, transportation and water business.
Going beyond thermal power, other areas for capitalising on emerging opportunities include defence and aerospace "to increase the share of business from non-coal areas", BHEL CMD Atul Sobti said at the 53rd Annual General Meeting here.
For Bharat Heavy Electricals Ltd (BHEL), the joint venture with Japan’s Kawasaki Heavy Industries (KHI) may well turn out to be a relief considering the recent drop in order inflows for the company.
According to its annual report, BHEL got orders worth only Rs 23,489 crore in 2016-17, a 46 per cent drop from Rs 43,727 crore in 2015-16. The company’s order book outstanding at the end of the last financial year stood at Rs 1,05,200 crore, down from Rs 1,10,730 crore in the year-ago period. Even new orders for the first quarter of the current financial year dropped 41 per cent to Rs 1,800 crore.
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