BHEL Q2 Results: Profit Triples To Rs 375 Crore, Revenue Rises 14%
BHEL's revenue rose by 14.1% year-on-year for the three months ended September, reaching Rs 7,511.8 crore.
Bharat Heavy Electricals Ltd.' profit rises threefold to Rs 374.89 crore in the second quarter of this financial year. This is in comparison to profit of Rs 106.15 crore in the previous quarter of this fiscal, according to its stock exchange notification on Wednesday.
Revenue rose by 14.1% year-on-year for the three months ended September, reaching Rs 7,511.8 crore. Operating income, or earnings before interest, taxes more than doubles year-on-year to Rs 580.93 crore. The Ebitda margin expanded to 7.7%.
BHEL Q2 Highlights (Consolidated, YoY)
Revenue up 14.1% At Rs 7,512 crore versus Rs 6,584 crore.
Net Profit at Rs 375 crore versus Rs 106 crore.
Ebitda at Rs 581 crore versus Rs 275 crore.
Margin at 7.7% versus 4.2%.
The company announced a major order win from M.P. Power Generating Company Ltd. in September. The order if for the development of two large-scale supercritical thermal power plants in Madhya Pradesh. The order is for the Engineering, Procurement and Construction (EPC) works for the 1x660 MW Amarkantak Unit 6 and 1x660 MW Satpura Unit 12 thermal power projects.
The contract was secured by BHEL through competitive open tender process. These projects will be executed over a period of 57 months from the date of award and involve comprehensive EPC responsibilities including supply of equipment, civil works, erection, and commissioning.
The total value of the contracts is estimated to be in the range of Rs 13,000 crore to Rs 15,000 crore, excluding taxes and duties. The orders have been placed by a domestic entity, and BHEL has clarified that there is no promoter or group company interest in MPPGCL. The transactions do not fall under related party deals.
BHEL Share Price Today
The quarterly earnings were shared after market hours. The stock settled 3.39% higher at Rs 245.39 apiece on the NSE, compared to a 0.45% advance in the benchmark Nifty 50.
BHEL' shares have risen 4.42% in the last 12 months and 6.97% year-to-date.
Out of 20 analysts tracking the company, eight maintain a 'buy' rating, three recommend a 'hold' and nine suggest 'sell', according to Bloomberg data. The average 12-month consensus price target of Rs 225.42 implies an downside of 8.1%.
