After dismal order flows of less than Rs2,000 crore each in the first two quarters of the current fiscal year, the country’s largest public sector power equipment maker Bharat Heavy Electricals Ltd (Bhel), sprung a pleasant surprise with order flows of about Rs12,000 crore in the December quarter. Even better, it matched analysts’ revenue and profit expectations.

Bharat Heavy Electricals’ (BHEL) order win of the Udangudi thermal power project vindicates our view of translation of L1 position into order inflow by March 2018. We had highlighted in our recent company update titled ‘Steady against all odds; pace of recovery key’, translation of L1 position in 4 projects into actual order inflow (including Udangudi) by March 2018. BHEL has bagged the Rs 73 billion EPC order from TANGEDCO for setting up the 2×660 mw Udangudi thermal power plant.

Power equipment maker Bhel said today that it has won a Rs 7,300 crore order for setting up a Supercritical Thermal Power Project (TPP) in Tamil Nadu.

The order for setting up the 2x660 MW Udangudi TPP has been placed on the state-owned firm by Tamil Nadu Generation and Distribution Corporation Ltd (TANGEDCO), Bhel said in a statement.

We had upgraded BHEL to ‘Buy’ in July 2016 anchored by a few positive triggers on the horizon. Of these, thermal ordering/demand has not picked up materially, which remains a key monitor able. On the positive side though, the company’s executable order book (OB) has jumped to 78% (54% last year) in H1FY18 as execution of slow-moving orders has gathered pace and gross margin has improved to ~40%.

State-run engineering firm BHEL has bagged an order worth over Rs 64 crore for setting up six sewage treatment plants in Raipur, Chhattisgarh.

As part of its strategy to diversify into new areas, Bharat Heavy Electricals Ltd (BHEL) has won an order for setting up six decentralised sewage treatment plants (STPs) in Raipur, Chhattisgarh, a BHEL statement said.

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.

State-owned power equipment maker Bharat Heavy Electricals Ltd (BHEL) has paid a final equity dividend of 39 per cent for 2016-17.

With this, the total dividend paid during the year stands at 79 per cent, including an interim one of 40 per cent paid earlier, BHEL said in a statement on Wednesday.

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