BHEL signs agreement with BARC for 50 kW alkaline electrolyser system

Heavy electrical equipment maker Bharat Heavy Electricals Limited (BHEL) has signed a technology transfer agreement with India's nuclear research facility Bhabha Atomic Research Centre (BARC) for a 50 kilowatts (kW) alkaline electrolyser system for hydrogen production.

In an exchange filing, BHEL stated that the well-proven technology offered by BARC is indigenously developed and has a high local material content.

"BHEL through this collaboration with BARC intends to scale up Indigenous Alkaline Electrolyser Technology and commercialise it for application in sectors such as refineries, fertiliser, steel, transportation, etc. This will be a step further in BHEL's contribution to the 'National Green Hydrogen Mission' and 'Aatma Nirbhar Bharat Abhiyan'," the regulatory filing said.

The agreement was signed in the presence of Jai Prakash Srivastava, Director (Engineering, Research and Development), BHEL by K Ravishankar, Executive Director (Corporate Technology Management and Corp R&D), BHEL and Dr S Adhikari, Associate Director (Knowledge Management Group), BARC.

Shares of BHEL were trading 1% lower at ₹295.5 on the NSE and down 1.1% to ₹295 on the BSE.

BHEL Q4 results

The state-run company had reported a consolidated net profit of ₹489.6 crore for Q4 FY24, down 25% from ₹658 crore in the year-ago period.

The revenue from operations stood at ₹8,260.2 crore in the quarter ended on March 31, 2024. In the same period last year, the revenue was ₹8226.9 crore.

It also announced a final dividend of ₹0.25 per equity share for FY24.

The earnings before interest, taxes, depreciation, and amortisation (EBITDA) fell 30.6% to ₹728 crore in the January-March quarter, while the margin was 8.8%.