Bharat Heavy Electricals Ltd (BHEL), the country’s largest power equipment manufacturer, is hopeful of getting orders worth Rs 55,000 crore within the financial year ending March 2010.
“Out of this Rs 55,000 crore, we have booked orders worth Rs 19,000 crore in the two quarters of this financial year. Our outstanding order book is at over Rs 1,30,000 crore,” BHEL Chairman and Managing Director K Ravi Kumar said.
He also added that the company expects another Rs 10,000 crore worth of orders by next month.
“We have finalised the prices for further orders worth Rs 10,000 crore. We are expecting the advance by October. This is mainly from private players and one order from NTPC,” he said, adding that 80 per cent of the orders bagged by the company so far in the current financial year have been placed by private companies.
Kumar also assured that all the power units to be set up for the Commonwealth Games 2010 to be held in Delhi will be supplied and commissioned by BHEL on time. BHEL’s share closed at Rs 2,245.60, down 0.18 per cent by close of Friday’s trade on the BSE
ref:
http://www.business-standard.com/india/news/bhel-hopes-to-get-orders-worth-rs-55000-cr-this-fiscal/371340/
Friday, September 25, 2009
Thursday, September 24, 2009
BHEL bags Rs 3.65 bn order for 700 MW N-power project
Bharat Heavy Electricals has bagged a Rs 3.65 billion order from the Nuclear Power Corporation of India for supply of four steam generators for India`s second 700 MWe nuclear power station, being set up at Rajasthan Atomic Power Project, Kota, reports Economic Times.
BHEL had bagged a similar order from NPCIL for the country`s first 700 MWe nuclear power station, being set up at Kakrapar Atomic Power Project in Gujarat.
The company will design, manufacture and supply these steam generators. The product will be manufactured and tested according to American Society of Mechanical Engineers (ASME Sec.III) Standards and is expected to meet various operation requirements as per customers` specifications.
BHEL has so far supplied 32 nuclear steam generators for eight 220 MWe nuclear power stations at Narora (UP), Kaiga (Karnataka) and RAPP (Rajasthan).
Shares of the company closed down Rs 22.3, or 0.98%, at Rs 2,249.75. The total volume of shares traded at the BSE was 91,584 (Thursday).
ref:
http://www.myiris.com/newsCentre/storyShow.php?fileR=20090925080152203&dir=2009/09/25&secID=livenews
BHEL had bagged a similar order from NPCIL for the country`s first 700 MWe nuclear power station, being set up at Kakrapar Atomic Power Project in Gujarat.
The company will design, manufacture and supply these steam generators. The product will be manufactured and tested according to American Society of Mechanical Engineers (ASME Sec.III) Standards and is expected to meet various operation requirements as per customers` specifications.
BHEL has so far supplied 32 nuclear steam generators for eight 220 MWe nuclear power stations at Narora (UP), Kaiga (Karnataka) and RAPP (Rajasthan).
Shares of the company closed down Rs 22.3, or 0.98%, at Rs 2,249.75. The total volume of shares traded at the BSE was 91,584 (Thursday).
ref:
http://www.myiris.com/newsCentre/storyShow.php?fileR=20090925080152203&dir=2009/09/25&secID=livenews
Thursday, September 17, 2009
BHEL shareholders okay to appoint 5 directors
Bharat Heavy Electricals Ltd on Thursday said that shareholders of the company have given their approval for appointing five directors on its board.
BHEL in a statement said that shareholders of the company have approved the appointment of Mr Ashok Kumar Basu, Mr MA Pathan, Ms Reva Nayyar, Mr Rajiv Bansal and Mr Saurabh Chandra as directors.
ref:
http://steelguru.com/news/index/2009/09/18/MTEyMjM5/BHEL_shareholders_okay_to_appoint_5_directors.html
BHEL in a statement said that shareholders of the company have approved the appointment of Mr Ashok Kumar Basu, Mr MA Pathan, Ms Reva Nayyar, Mr Rajiv Bansal and Mr Saurabh Chandra as directors.
ref:
http://steelguru.com/news/index/2009/09/18/MTEyMjM5/BHEL_shareholders_okay_to_appoint_5_directors.html
India, Belarus sign 3 pacts - BHEl gets USD 50 million Order
Moscow, Sept 17 (PTI) India and Belarus today signed three agreements, including a USD 50 million commercial contract for a power plant in the former Soviet republic, as External Affairs Minister S M Krishna wrapped up his two-day maiden visit to the country.
Indian Ambassador Ramesh Chander signed an agreement on Cooperation in Physical Training and Sports in the presence of Krishna and his Belarus counterpart Sergei Martynov in Belarus capital Minsk.
In a major breakthrough in the former Soviet space, Bharat Heavy Electricals Limited (BHEL) signed a contract worth USD 50 million for supply of equipment and provision of technical supervision for installation of 120 MW Grodno-II Combined Heat and Power Plant.
Under the third agreement, India will set up a Digital Learning Centre at the High Technology Park in Belarus.
Before leaving Minsk, Krishna also called on President Aleksandr Lukashenka.
ref:
http://www.ptinews.com/news/287928_India--Belarus-sign-3-pacts--Krishna-concludes-visit
Indian Ambassador Ramesh Chander signed an agreement on Cooperation in Physical Training and Sports in the presence of Krishna and his Belarus counterpart Sergei Martynov in Belarus capital Minsk.
In a major breakthrough in the former Soviet space, Bharat Heavy Electricals Limited (BHEL) signed a contract worth USD 50 million for supply of equipment and provision of technical supervision for installation of 120 MW Grodno-II Combined Heat and Power Plant.
Under the third agreement, India will set up a Digital Learning Centre at the High Technology Park in Belarus.
Before leaving Minsk, Krishna also called on President Aleksandr Lukashenka.
ref:
http://www.ptinews.com/news/287928_India--Belarus-sign-3-pacts--Krishna-concludes-visit
BHEL reports record net profit of Rs3,138 crore for fiscal 2008-09 news
Bharat Heavy Electricals Limited (BHEL) recorded its highest-ever net profit (profit after tax) of Rs3,138 crore in fiscal 2008-09, up 10 per cent from the previous fiscal, as the company built on the growth momentum achieved in the year before with a 31 per cent growth in turnover at Rs28,033 crore.
The record growth in sales and profitability was achieved despite unprecedented increase in raw material costs, chairman and managing director K Ravi Kumar told shareholders at the 45th annual general meeting of BHEL.
This has been achieved due to a recorded a surge in economic value addition at BHEL, which went up to Rs2,008 crore from Rs1810 crore in the year before, he said.
The company also paid the highest-ever total dividend of Rs832 crore for 2008-09 - which is 170 per cent of the paid-up capital (including an interim dividend of 90 per cent) as against 152.5 per cent paid for 2007-08.
The company also surpassed its own record set in 2007-08 by securing orders worth Rs59,678 crore, the highest-ever in a single year, despite operating under intense competitive pressure in domestic and international markets.
Utility orders amounted to 17,020 MW and industry sector order inflows crossed the Rs10,000-crore mark for the first time.
ref:
http://www.domain-b.com/companies/companies_b/Bharat_Heavy_Electricals/20090917_bhel.html
The record growth in sales and profitability was achieved despite unprecedented increase in raw material costs, chairman and managing director K Ravi Kumar told shareholders at the 45th annual general meeting of BHEL.
This has been achieved due to a recorded a surge in economic value addition at BHEL, which went up to Rs2,008 crore from Rs1810 crore in the year before, he said.
The company also paid the highest-ever total dividend of Rs832 crore for 2008-09 - which is 170 per cent of the paid-up capital (including an interim dividend of 90 per cent) as against 152.5 per cent paid for 2007-08.
The company also surpassed its own record set in 2007-08 by securing orders worth Rs59,678 crore, the highest-ever in a single year, despite operating under intense competitive pressure in domestic and international markets.
Utility orders amounted to 17,020 MW and industry sector order inflows crossed the Rs10,000-crore mark for the first time.
ref:
http://www.domain-b.com/companies/companies_b/Bharat_Heavy_Electricals/20090917_bhel.html
Tuesday, September 15, 2009
BHEL holds vendor's meet
MM-EM Department of BHEL organised a vendor meet for the vendors of electrical machine. SR Prasad, GM, EM was the chief guest in this programme.
In his address, Prasad said that in achieving the target of Bhopal Unit, the role of vendors and customers are equally important. In the present global scenario, Product Quality, Timely Delivery and Reduction in Cost are most important factors to sustain in the market and to fulfil these conditions the role of vendor is like a business partner.
While appreciating the role of vendors, Prasad said that the contribution of vendors in the growth of BHEL has been appreciating and BHEL expects the same contribution in future also.
SK Bhatia, AGM, (MM-EM) and SP Kapoor, Sr DGM, (MM-EM) conducted the programme. The vote of thanks was proposed by Amitabh Dubey, Sr DGM (MM-EM).
ref:
http://www.centralchronicle.com/viewnews.asp?articleID=14696
In his address, Prasad said that in achieving the target of Bhopal Unit, the role of vendors and customers are equally important. In the present global scenario, Product Quality, Timely Delivery and Reduction in Cost are most important factors to sustain in the market and to fulfil these conditions the role of vendor is like a business partner.
While appreciating the role of vendors, Prasad said that the contribution of vendors in the growth of BHEL has been appreciating and BHEL expects the same contribution in future also.
SK Bhatia, AGM, (MM-EM) and SP Kapoor, Sr DGM, (MM-EM) conducted the programme. The vote of thanks was proposed by Amitabh Dubey, Sr DGM (MM-EM).
ref:
http://www.centralchronicle.com/viewnews.asp?articleID=14696
Monday, September 14, 2009
BHEL staff on strike for wage revision
About 11,000 employees of Bharat Heavy Vehicle Ltd (BHEL), led by the Labour Progressive Front (LPF), struck work on Monday demanding wage revision negotiations and pension benefits.
According to sources, various unions of BHEL employees of Tiruchy, Ranipet, Bangalore and Hyderabad units had planned to go on strike on Monday pressing their charter of demands.
The demands included wage revision from January 2007, reduction of wage revision duration from 10 years to five years, fixing pay scales for contract employees and pension benefits.
In the Tiruchy unit 15 unions, including LPF, Indian National Tradu Union Congress (INTUC), Centre of Indian Trade Union (CITU), Dr Ambedkar Labour Union, All Indian Anna Dravida Munnetra Kazhagam (AIADMK), Marumalarchi Dravida Munnetra Kazhagam (MDMK) and Desiya Murpokku Dravida Kazhagam (DMDK) unions, organised the strike.
Tense moments prevailed when LPF president Ethiraj and other leaders stopped the employees at the BHEL gate when they tried to report for work.
“The administration has invited us for talks on September 18. We hope our demands would be conceded,” Ethiraj said.
A heavy posse of police was deputed at the spot to avoid any untoward incident. Attempts by Superintendent of Police A Kaliyamoorthy and others to intervene led to tension.
ref:
http://www.expressbuzz.com/edition/story.aspx?Title=BHEL+staff+on+strike+for+wage+revision&artid=iJ%7CWgnGPMk8=&SectionID=vBlkz7JCFvA=&MainSectionID=fyV9T2jIa4A=&SectionName=EL7znOtxBM3qzgMyXZKtxw==&SEO=
According to sources, various unions of BHEL employees of Tiruchy, Ranipet, Bangalore and Hyderabad units had planned to go on strike on Monday pressing their charter of demands.
The demands included wage revision from January 2007, reduction of wage revision duration from 10 years to five years, fixing pay scales for contract employees and pension benefits.
In the Tiruchy unit 15 unions, including LPF, Indian National Tradu Union Congress (INTUC), Centre of Indian Trade Union (CITU), Dr Ambedkar Labour Union, All Indian Anna Dravida Munnetra Kazhagam (AIADMK), Marumalarchi Dravida Munnetra Kazhagam (MDMK) and Desiya Murpokku Dravida Kazhagam (DMDK) unions, organised the strike.
Tense moments prevailed when LPF president Ethiraj and other leaders stopped the employees at the BHEL gate when they tried to report for work.
“The administration has invited us for talks on September 18. We hope our demands would be conceded,” Ethiraj said.
A heavy posse of police was deputed at the spot to avoid any untoward incident. Attempts by Superintendent of Police A Kaliyamoorthy and others to intervene led to tension.
ref:
http://www.expressbuzz.com/edition/story.aspx?Title=BHEL+staff+on+strike+for+wage+revision&artid=iJ%7CWgnGPMk8=&SectionID=vBlkz7JCFvA=&MainSectionID=fyV9T2jIa4A=&SectionName=EL7znOtxBM3qzgMyXZKtxw==&SEO=
Thursday, September 10, 2009
BHEL bags record order of Rs 10,254 crore in 2008-09
Bharat Heavy Electrical Ltd. (BHEL)'s industry sector business segment recorded an all time high order of Rs 10,254 crore in fiscal
2008-09, in captive power, transportation, power transmission, oil and gas and other industrial segments, a top company official said.
Flagging off the first consignment of foundation materials to Mahan Aluminium in Singrauli district of Madhya Pradesh, A V Krishnan, Executive Director, BHEL, here today said the dispatch was made ahead of the schedule and against an order for supply of main plant package of six 150 MW units, being set up by HINDALCO Industries Ltd.
Last year, BHEL bagged the largest captive power plant order in two parts - from HINDALCO for setting up 12 sets of 150 MW units at Mahan Aluminium and Aditya Aluminium at Sambalpur district of Orissa, valued at Rs 4,015 crore.
BHEL has been executing these orders against a tight schedule of 24 months and is expected to complete the order in Mahan Aluminium by March 2011 and in Aditya Aluminium by June 2011, Krishnan added.
2008-09, in captive power, transportation, power transmission, oil and gas and other industrial segments, a top company official said.
Flagging off the first consignment of foundation materials to Mahan Aluminium in Singrauli district of Madhya Pradesh, A V Krishnan, Executive Director, BHEL, here today said the dispatch was made ahead of the schedule and against an order for supply of main plant package of six 150 MW units, being set up by HINDALCO Industries Ltd.
Last year, BHEL bagged the largest captive power plant order in two parts - from HINDALCO for setting up 12 sets of 150 MW units at Mahan Aluminium and Aditya Aluminium at Sambalpur district of Orissa, valued at Rs 4,015 crore.
BHEL has been executing these orders against a tight schedule of 24 months and is expected to complete the order in Mahan Aluminium by March 2011 and in Aditya Aluminium by June 2011, Krishnan added.
Friday, September 4, 2009
Karvy initiates coverage on BHEL with target of Rs 2653
Karvy Stock Broking has initiated coverage on BHEL and expects the stock to hit a target of Rs 2653 in next 12-months.
“BHEL is a leading power equipment manufacturer in India and a play on India's increasing power generation requirement. The capacity addition of 10,000 MW (100% of existing) by FY12 is expected to improve execution capability and drive the revenue at a CAGR of 22.3%. The net profits are expected to boost up from 540
bps margin improvement mainly on account of cost control and are expected to increase at a CAGR of 30% to Rs 68.99 bn by FY12.
At the current price of Rs 2,201, the stock is trading at 25.6x FY10E and 19.1x FY11E earnings and EV/EBIDTA it is trading at 15.7x FY10E and 11.3x FY11E. The valuations look attractive given the leadership position and future growth opportunities for the company along with RoCE and RoE of around 37% and 28% respectively. We have used average of P/E and DCF method to value BHEL.
We have valued the BHEL at 25xFY11E earnings translating into PEG of 0.8. Our P/E based valuation per share of Rs 2763 and DCF value per share of Rs 2543 gives the target price of Rs 2653 per share. We rate the stock an Outperformer,” the brokerage report said.
ref:
http://economictimes.indiatimes.com/Views/Recommendations/Karvy-initiates-coverage-on-BHEL-with-target-of-Rs-2653/articleshow/4970787.cms
“BHEL is a leading power equipment manufacturer in India and a play on India's increasing power generation requirement. The capacity addition of 10,000 MW (100% of existing) by FY12 is expected to improve execution capability and drive the revenue at a CAGR of 22.3%. The net profits are expected to boost up from 540
bps margin improvement mainly on account of cost control and are expected to increase at a CAGR of 30% to Rs 68.99 bn by FY12.
At the current price of Rs 2,201, the stock is trading at 25.6x FY10E and 19.1x FY11E earnings and EV/EBIDTA it is trading at 15.7x FY10E and 11.3x FY11E. The valuations look attractive given the leadership position and future growth opportunities for the company along with RoCE and RoE of around 37% and 28% respectively. We have used average of P/E and DCF method to value BHEL.
We have valued the BHEL at 25xFY11E earnings translating into PEG of 0.8. Our P/E based valuation per share of Rs 2763 and DCF value per share of Rs 2543 gives the target price of Rs 2653 per share. We rate the stock an Outperformer,” the brokerage report said.
ref:
http://economictimes.indiatimes.com/Views/Recommendations/Karvy-initiates-coverage-on-BHEL-with-target-of-Rs-2653/articleshow/4970787.cms
INTERVIEW - BHEL eyes $2.5 bln orders in 4-6 wks
Bharat Heavy Electricals Ltd, India's largest power equipment maker, expects to close orders worth about $2.5 billion in the next 4-6 weeks as firms
step up investment in the power sector, its chairman said.
"We have already negotiated prices, we are only waiting for their financial closure," K. Ravikumar told Reuters in a telephone interview.
The state-run company, which the market values at nearly $22 billion, is counting on private power firms to boost its order book as delays in bids and rising competition slow orders from the government, he said.
BHEL has orders on hand worth 1.3 trillion rupees ($26.6 billion). This includes 150 billion rupees signed this year, with the private sector contributing 90 percent.
more at:
http://in.reuters.com/article/businessNews/idINIndia-42213920090904
step up investment in the power sector, its chairman said.
"We have already negotiated prices, we are only waiting for their financial closure," K. Ravikumar told Reuters in a telephone interview.
The state-run company, which the market values at nearly $22 billion, is counting on private power firms to boost its order book as delays in bids and rising competition slow orders from the government, he said.
BHEL has orders on hand worth 1.3 trillion rupees ($26.6 billion). This includes 150 billion rupees signed this year, with the private sector contributing 90 percent.
more at:
http://in.reuters.com/article/businessNews/idINIndia-42213920090904
Wednesday, September 2, 2009
BHEL to set up solar PV facility
Bharat Heavy Electricals Limited (BHEL), the state-owned power equipment major, is planning to invest close to Rs 2,000 crore to set up a 250 Mw solar photovoltaic production facility for processing silicon wafers, solar cells and PV modules. The facility will be set up in a joint venture with Bharat Electronics Limited (BEL), K Ravi Kumar, chairman and managing director, BHEL said.
Talking to reporters after inaugurating the 8 Mw solar PV module manufacturing facility at BHEL Bangalore Complex, here today, he said both the companies are currently in the process of roping in a overseas company for technology transfer for the venture. The deal is likely to be finalised by end of March 2010, he said.
“It is a backward integration for us as we already manufacture solar PV modules in our Bangalore complex. Out of 250 Mw new capacity, some portion will be exported. We must have a power plant for setting up this facility. It is a power intensive and needs at least 400 Mw of power. The location will be finalised by end of the year,” he said.
Currently, BHEL is making silicon modules from wafers. This will be the first such major facility for manufacturing raw material for solar panels by BHEL and BEL together. Polysilicon is a key component for integrated circuit and central processing unit manufacturers such as AMD and Intel.
He said the proposed polysilicon material manufacturing facility will be an integrated unit that will produce polysilicon ingots, wafers, solar cells, modules and solar panel systems.
The company will mainly sell the solar systems to government agencies that are engaged in the popularisation of solar energy beside exports. Currently, BEL is exporting solar cells to Germany, France, Italy among others. While there is a demand for 100,000 solar cells per month, BEL is exporting 50,000 solar cells every month.
BHEL is a leading player in the field of solar power plants in the country. The modules are manufactured in Bangalore.
It also exports to various countries such as Germany, Australia and Italy.
ref:
http://www.business-standard.com/india/news/bhel-to-setsolar-pv-facility/368871/
Talking to reporters after inaugurating the 8 Mw solar PV module manufacturing facility at BHEL Bangalore Complex, here today, he said both the companies are currently in the process of roping in a overseas company for technology transfer for the venture. The deal is likely to be finalised by end of March 2010, he said.
“It is a backward integration for us as we already manufacture solar PV modules in our Bangalore complex. Out of 250 Mw new capacity, some portion will be exported. We must have a power plant for setting up this facility. It is a power intensive and needs at least 400 Mw of power. The location will be finalised by end of the year,” he said.
Currently, BHEL is making silicon modules from wafers. This will be the first such major facility for manufacturing raw material for solar panels by BHEL and BEL together. Polysilicon is a key component for integrated circuit and central processing unit manufacturers such as AMD and Intel.
He said the proposed polysilicon material manufacturing facility will be an integrated unit that will produce polysilicon ingots, wafers, solar cells, modules and solar panel systems.
The company will mainly sell the solar systems to government agencies that are engaged in the popularisation of solar energy beside exports. Currently, BEL is exporting solar cells to Germany, France, Italy among others. While there is a demand for 100,000 solar cells per month, BEL is exporting 50,000 solar cells every month.
BHEL is a leading player in the field of solar power plants in the country. The modules are manufactured in Bangalore.
It also exports to various countries such as Germany, Australia and Italy.
ref:
http://www.business-standard.com/india/news/bhel-to-setsolar-pv-facility/368871/
Tuesday, September 1, 2009
Top state-run firms to get Maha Ratna status
The government proposes to award Maha Ratna status to state-owned companies for greater functional autonomy to make higher investments,
form joint ventures and expand capacity, Heavy Industries and Public Enterprises Minister Vilasrao Deshmukh said here Tuesday.
"My ministry will seek cabinet approval for elevating some of the Nav Ratna companies owned by the government to the Maha Ratna status provided their net profit is Rs.5,000 crore for three consecutive years," Deshumukh told reporters on the margins of an official function.
Profit-making firms such as Bharat Heavy Electricals Ltd (BHEL), National Thermal Power Corporation (NTPC) and Oil & Natural Gas Commission (ONGC) qualify for the Maha Ratna status.
"We are working on the details of the new scheme in consultation with other ministries like finance and law. Once the cabinet approves the scheme, a committee will be set up to identify, vet and select the Nav Ratnas that can be elevated to Maha Ratna status," Deshmukh said after dedicating to the nation BHEL's solar photovoltaic production facility on the outskirts of the city.
With state-run oil firms coming under the petroleum ministry, the new status will not be decided by the heavy industries ministry.
Clarifying that the proposed new status would not stall disinvesting the government stake in profit-making firms, Deshmukh said barring the listed state-run firms, other state-owned firms were not in the disinvestment programme.
"At any cost, disinvestment will be up to 49 percent so as to ensure the government's majority holding will remain intact at 51 percent. There is no proposal before the ministry for disinvesting any stake in BHEL," Deshmukh asserted.
ref:
http://economictimes.indiatimes.com/News/Economy/Policy/Top-state-run-firms-to-get-Maha-Ratna-status/articleshow/4960770.cms
form joint ventures and expand capacity, Heavy Industries and Public Enterprises Minister Vilasrao Deshmukh said here Tuesday.
"My ministry will seek cabinet approval for elevating some of the Nav Ratna companies owned by the government to the Maha Ratna status provided their net profit is Rs.5,000 crore for three consecutive years," Deshumukh told reporters on the margins of an official function.
Profit-making firms such as Bharat Heavy Electricals Ltd (BHEL), National Thermal Power Corporation (NTPC) and Oil & Natural Gas Commission (ONGC) qualify for the Maha Ratna status.
"We are working on the details of the new scheme in consultation with other ministries like finance and law. Once the cabinet approves the scheme, a committee will be set up to identify, vet and select the Nav Ratnas that can be elevated to Maha Ratna status," Deshmukh said after dedicating to the nation BHEL's solar photovoltaic production facility on the outskirts of the city.
With state-run oil firms coming under the petroleum ministry, the new status will not be decided by the heavy industries ministry.
Clarifying that the proposed new status would not stall disinvesting the government stake in profit-making firms, Deshmukh said barring the listed state-run firms, other state-owned firms were not in the disinvestment programme.
"At any cost, disinvestment will be up to 49 percent so as to ensure the government's majority holding will remain intact at 51 percent. There is no proposal before the ministry for disinvesting any stake in BHEL," Deshmukh asserted.
ref:
http://economictimes.indiatimes.com/News/Economy/Policy/Top-state-run-firms-to-get-Maha-Ratna-status/articleshow/4960770.cms
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