The shares of one of the largest engineering and manufacturing companies gained up to 3 percent after the company received an order from HPGCL for setting up the 1×800 MW Ultra Super Critical Expansion Unit worth Rs 5500 Crore.
With a market capitalization of Rs 76,814.32 crore, the shares of Bharat Heavy Electricals Ltd Were trading at Rs 220.55 per share, decreasing around 4.48 percent as compared to the previous closing price of Rs 230.90 apiece.
According to the company filing, Bharat Heavy Electricals Ltd has secured a Rs 5,500 crore order from HPGCL (Haryana Power Generation Corp. Ltd.) to build the 1×800 MW Ultra Super Critical Expansion Unit at DCRTPP Yamuna Nagar site. The complete takeover will last 57 months.
Bharat Heavy Electricals Ltd’s sales declined by 1.4% from Rs 5,203 crore in Q3FY23 to Rs 5,125 crore in Q3FY24, while net profit decreased from Rs 12 crore to a loss of Rs 238 crore.
The company’s domestic steel installed capacity is currently around 154 MT. To reach 300 MT by 2030, secondary and integrated steel industries are expected to announce expansion plans, increasing demand for captive power.
In FY 2022-23, the company’s order booking hit Rs 23,548 crore, the most in the last five years. The company’s efforts in the Industry Sector led to the highest order booking in 13 years, accounting for 40% of the annual order book.
In FY 2022-23, BHEL secured contracts for 2,400 MW in the power industry, worth Rs 13,353 crore (excl. taxes), despite fierce competition and limited opportunities. This includes the highest-ever order booking of Rs 3,800 crore (excluding taxes) in the Spares and Services Business.
Bharat Heavy Electricals Ltd is an integrated power plant equipment manufacturer that designs, engineers, manufactures, erects, tests, commissions, and services a wide range of products and services for the economy’s core sectors, including power, transmission, industry, transportation, renewable energy, oil and gas, and defense.
Written by:- Abhishek Singh
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