Shares of this large cap PSU gained 3.52 percent after company appoints Ms. Bani Verma as director of the public sector engineering and manufacturing enterprise.
On 10th October, shares of Bharat Heavy Electricals Ltd (BHEL) closed at Rs. 131.10 per share, up by 3.68 percent from previous closing price of Rs. 126.45 per share.
Such bullish sentiments were observed after the company announced through regulatory filing (BSE) that they have appointed Ms. Bani Varma, 55 as Director on the Board of Bharat Heavy Electricals Limited (BHEL). Prior to this, Ms Varma was heading BHEL’s Transportation Business segment along with the company’s Electronics Division (EDN) manufacturing unit at Bengaluru.
Ms. Verma is a passionate and professional leader and has been working with BHEL for the last 33 years. She has also handled various key positions in the company including Corporate Strategic Management, Project Management, Marketing of Industrial Products (Electrical), Captive Power Plants, etc.
Looking at the financials of the company, revenue increased by 7.09 percent to Rs. 5,003.43 crores in Q1FY24 from Rs. 4,672 crores in Q1FY23. In the same time period, earnings went from a loss of Rs. 187 crores in Q1FY23 to a loss of Rs. 343.89 crores in Q1FY24.
Talking about the financial ratios, the company reported return on equity(ROE) of 1.79 percent and return on capital employed (ROCE) of 3.44 percent.
Bharat Heavy Electricals Ltd is an integrated power plant equipment manufacturer engaged in design, engineering, manufacture, erection, testing, commissioning and servicing of a wide range of products and services for the core sectors of the economy, viz. Power, transmission, Industry, transportation, renewable energy, Oil & Gas and defence. It is the flagship engineering and manufacturing company of India owned and controlled by the Govt. of India.
Written by: Vinit Israni
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