Maharatna Central Public Sector Enterprise which is one of the largest engineering and manufacturing companies in India jumped 2 percent after signing an MoU to work on Hydrogen value chain and IIoT solutions.
At 11:02 a.m the shares of Bharat Heavy Electricals Limited were trading at Rs. 182.80, up 0.77 percent from its previous day’s close price of Rs. 181.40 and its market capitalization is Rs. 63,582 Crores.
Bharat Heavy Electricals Limited has entered into a Memorandum of Understanding(MoU) with the Central Manufacturing Technology Institute (CMTI) which is an autonomous Institution under the administrative control of the Ministry of Heavy Industries.
The MoU is for the collaboration between the two parties on technology development in the areas of Hydrogen value chain and IIoT solutions for predictive maintenance of machines & manufacturing processes.
Bharat Heavy Electricals Limited (BHEL) is one of the largest engineering and manufacturing companies in India engaged in the design, engineering, construction, testing, commissioning, and servicing of a wide range of products and services for the core sectors of the economy like power, transmission, renewable energy, industry and many more.
As of March 31, 2023, it has a total order book of Rs. 91,336 Crores, and it received the prestigious order for 80 nos of “Vande Bharat” trainsets, with which its order book crosses Rs. 1 lakh crore. In FY23, 56.70 percent of its orders came from the Power Sector, 40.50 percent from the Industry Sector and the rest 2.79 percent from International operations.
In FY22-23, it generated 79 percent of its revenue from Industry and 21 percent from the Power sectors. As part of diversification, it targets achieving 50 percent of its business to be from non-coal businesses.
The company’s revenue from operations grew 10.15 percent from Rs. 21,211.09 Crores in FY22 to Rs. 23,364.94 Crores in FY23, accompanied by increasing profits of Rs. 446.03 Crores to Rs. 477.39 Crores.
Written by: Bharath K.S
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