BHEL Secures ₹13,000 Crore EPC Order, Boosts Q1 Order Book by 51%
Bharat Heavy Electricals Limited (BHEL) has secured a significant boost to its order book, with a 51% year-on-year growth to surpass ₹2 lakh crore in the June quarter. The news has driven BHEL's shares up by over 2% on Tuesday.
The state-owned enterprise has received a substantial Engineering, Procurement, and Construction (EPC) order from Madhya Pradesh Power Generation Company Limited (MPPGCL) for two 660 MW thermal plants in Madhya Pradesh. The order, valued between ₹13,000 crore and ₹15,000 crore excluding taxes, covers the construction of 1x660 MW Amarkantak Unit No. 6 and 1x660 MW Satpura Unit No. 12 Supercritical Thermal Power Plants. Both projects are expected to be completed within 57 months from the award notification, further strengthening BHEL's position in India's heavy electrical engineering sector.
Despite the recent order win, BHEL reported a net loss of ₹455 crore and an EBITDA loss of ₹537 crore for the June quarter. However, the company's order inflows climbed by 42% year-on-year to ₹13,445 crore during the same period, indicating a positive trend in its order book growth.
Investors and industry observers will closely monitor BHEL's ability to translate its growing order book into improved financial results. The latest order, valued at over ₹13,000 crore, is expected to reinforce BHEL's position in the heavy electrical engineering sector and contribute to its future growth prospects.
Read also:
- chaos unveiled on Clowning Street: week 63's antics from 'Two-Tier Keir' and his chaotic Labour Circus
- Budget discrepancy jeopardizes highway projects' financial support
- Racing ahead in Renewable Energy Dominance: Changzhou, Jiangsu Pushes for Worldwide Renewable Energy Ascendancy
- Renault Group to Discuss Decarbonization and Circular Economy Strategies at ChangeNow 2023 Event
