The ₹6,500-crore contract (excluding GST) involves the supply of steam turbine generators and auxiliaries, along with supervision of erection and commissioning. The order has been awarded by a domestic entity and does not fall under related party transactions. Execution timelines will align with Adani Power’s project requirements.
Q4 below expectations
BHEL’s net profit for the company increased by 4% to ₹504 crore, but a CNBC-TV18 poll had projected the figure to be ₹696 crore. Revenue for the quarter increased by 9% from the same quarter last year to ₹8,993.4 crore. The figure is also below the CNBC-TV18 poll of ₹10,715 crore.
Also Read: BHEL shares surge after bagging ₹7,500 crore contract from Gujarat State Electricity Corporation
BHEL’s earnings before interest, tax, depreciation and amortisation stood at ₹831 crore, well below the ₹1,023 crore estimate. On a year-on-year basis, the EBITDA went up by 14.2%. EBITDA margin for the quarter increased by around 40 basis points from the year-ago quarter to 9.25%, below the expected 9.55%.
Shares of Bharat Heavy Electricals Ltd ended at ₹264.05, down by ₹0.55, or 0.21%, on the BSE.
Also Read: BHEL shares surge after net profit nearly triples in Q3, margin expands
(Edited by : Shoma Bhattacharjee)
