BHEL bags over ₹3,500 crore order from Adani Power for Chhattisgarh thermal plant, shares up 13%

Shares of BHEL were trading 13.1% higher at ₹289 on the National Stock Exchange (NSE) at 11:34 am on Thursday. The market capitalisation of the company stood at ₹1,00,649 crore.

According to a regulatory filing, "Bharat Heavy Electricals Limited (BHEL) has received an order from Adani Power Ltd. (APL) for setting up the 2x800 MW TPP at Raipur, Chhattisgarh."

As per the deal, BHEL will supply equipment such as a boiler, generator, and turbine. It will also supervise the erection and commissioning of the thermal power project based on supercritical technology.

The boilers and turbine generators will be manufactured at BHEL's Trichy and Haridwar plants, respectively. The order specifies that unit-1 will be supplied within 35 months and unit-2 within 41 months.

BHEL Q4 results

In the fourth quarter of the financial year 2023-24, the heavy electrical maker's consolidated net profit decreased 25% to ₹489.6 crore, as against ₹658 crore in the same period last year.

The revenue from operations was reported at ₹8,260.2 crore in the latest March quarter, an increase of 0.4% from ₹8,226.9 crore in the corresponding period the previous year.

BHEL also recommended a final dividend of ₹0.25 per equity share for FY 2023-24.

For the fiscal year 2023-24, net profit decreased by 56.8% to ₹282.2 crore, while revenue from operations increased by 2.6% to ₹23,982.7 crore.