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.
Bharat Heavy Electricals Limited (BHEL) has moved higher by 10% to Rs 146 on the back of heavy volumes after Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe on Thursday laid foundation stone for India's first bullet train between Ahmedabad and Mumbai.
Till 11:00 AM; a combined 23.1 million equity shares changed hands against an average 3.2 million shares were traded daily in past two weeks on BSE and NSE.
Bharat Heavy Electricals Ltd (Bhel) is changing its business model to focus on solar power generation, create equipment to help thermal plants drastically reduce emissions and get a larger share of transportation business like metro coaches.
This follows the recent rap by the Comptroller and Auditor General for not doing enough to diversify and grow aggressively.
Ahead of its June quarter results announcement, Bharat Heavy Electricals Ltd’s (Bhel) shares had fallen 25% in the past three months. In comparison, the Nifty Infrastructure index had risen by about 2%. As it turns out, investors were on the right track in assessing Bhel’s performance. Its performance in the June quarter was dismal, with its dangerous mix of weak revenues and bloated expenses resulting in operating losses.
Aimed at expanding its footprint in the urban transportation sector as part of its diversification initiatives, Bharat Heavy Electricals Limited (BHEL) has entered into a technology collaboration agreement with Kawasaki Heavy Industries (KHI), Japan, for the manufacture of stainless steel coaches and bogies for metros. The technology collaboration agreement was signed by Amitabh Mathur, director (IS&P), BHEL and Makoto Ogawara, senior vice president, KHI in the presence of Atul Sobti, chairman and managing director, BHEL and Yoshinori Kanehana, President, KHI.
State-owned power equipment maker BHEL today said it has won Rs 233 crore order for a steam and power generation package from Ramagundam Fertilizers and Chemicals Ltd (RFCL). “Valued at Rs 233 crore, the order has been placed on BHEL for setting up the package at RFCL’s fertilizer plant at Ramagundam in Telangana,” BHEL said in a press statement.
State-run BHEL today said its largest power project order in the international market, valued at Rs 10,000 crore, in Bangladesh has taken off. “Bharat Heavy Electricals Ltd (BHEL)’s largest ever export order, valued at Rs 10,000 crore, for setting up 1,320 MW (2×660 MW) Maitree Super Thermal Power Project in Bangladesh has taken off, following the issuance of the ‘Notice To Proceed’ by the developer,” the company said in a BSE filing.
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