BHEL rises over 3% on bagging Rs 10,000 cr-order from Damodar Valley Corp
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Shares of Bharat Heavy Electrical Limited (BHEL), on Monday, July 29, rallied as much as 3.05 per cent to hit an intraday high of Rs 327 per share on NSE.
The surge in the share price came after the company secured Rs 10,000 crore order for 1600MW Damodar Valley Corp project.
In an exchange filing, BHEL said, “Bharat Heavy Electricals Limited (BHEL) has received a Letter of Intent (LOI) from Damodar Valley Corporation (DVC) for setting up the 2x800 MW Koderma Phase-II Thermal Power Station at Koderma district, Jharkhand on EPC basis.”
Under the terms of the order, BHEL will be responsible for the Supply of equipment including Boiler, Turbine, Generator and associated auxiliaries along with electrical and C&I, balance of plant packages; erection & commissioning; and other civil works, the company said in a statement.
The project is expected to be completed by 52 months, BHEL added.
BHEL Q4FY24 financials
In Q4FY24, Bharat Heavy Electricals Ltd (BHEL) reported a consolidated net profit of Rs 489.6 crore, marking a 25.6 per cent decrease from Rs 658 crore in Q4FY23. This decline was attributed to higher expenses. However, on a sequential basis, the company’s net profit saw an increase, growing sevenfold from Rs 60.3 crore.
Consolidated revenue from operations saw a slight year-on-year increase of 0.4 per cent, rising to Rs 8,260.3 crore from Rs 8,227 crore. Sequentially, revenue surged 50 per cent from Rs 5,503.8 crore.
BHEL’s total expenses, which include costs related to power and industrial equipment manufacturing, rose 5 per cent year-on-year to Rs 7,794.1 crore in the fourth quarter, up from Rs 7,411.6 crore. On a sequential basis, expenses increased 40.8 per cent from Rs 5,537.5 crore
Bharat Heavy Electricals Ltd (BHEL) is a leading power plant equipment manufacturer in India. The company specialises in the design, engineering, manufacturing, installation, testing, commissioning, and servicing of a diverse array of products and services.
BHEL caters to key sectors such as power, transmission, industry, transportation, renewable energy, oil & gas, and defence. As the premier engineering and manufacturing enterprise in the country, BHEL is owned and operated by the Government of India.
The market capitalisation of the company is Rs 1,12,766.62 crore, according to Bombay Stock Exchange (BSE). The company falls under BSE 200 category.
At 9:40 AM, shares of BHEL were trading 2.08 per cent higher at Rs 323.90. By comparison, Nifty50 was trading 0.33 per cent higher at 24,916.55 levels.
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