BHEL share price hits 52-week low amid arbitration initiation by Ducon Tech; stock tanks 5%

“BHEL-BAP Ranipet hereby intimates that a claim of $30,89,179.05 & ₹3,78,64,057.80, respectively, plus interest, has been made by M/s DUCON TECHNOLOGIES INC., USA, and M/s DUCON INFRATECHNOLOGIES LTD (formerly known as Ducon Technologies (I) Pvt. Ltd.), Thane, India, against BAP-Ranipet, and an arbitrator has been appointed on 17.02.2025 by the Indian Council of Arbitration (ICA), New Delhi, and the same is being defended by BHEL,” the company said in a regulatory filing.

At 2:25 PM, shares of the company were trading at ₹185.15 apiece, tanking 4.29% on BSE. The stock hit its 52-week low of ₹183.6 during the intraday trade. At close, BHEL stood at ₹186.50, declining 3.59%.

The state-owned engineering firm reported a consolidated net profit of ₹134.7 crore for the quarter ended December 31, 2024, as against ₹60 crore in the year-ago period.

The public sector undertakings' consolidated revenue from operations rose 32.3% to ₹7,277.1 crore in the December quarter as compared to ₹5,504 crore in Q3FY24.

The company restated figures from the previous year to reflect adjusted expenses of ₹5,537.47 crore from ₹5,816.87 crore that were reported a year ago. The restated figures include deferred tax and provisions and write-offs, according to an exchange filing.

BHEL recorded strong order inflows in the first nine months of FY25, totalling over ₹47,947 crore. Key wins include securing a contract from NTPC to establish the main plant package of three units of the 800MW Telangana Stage-II supercritical thermal power plant (STPP) project. The three units will be set up at a cost of ₹29,344 crore.

The company last week secured an order worth 6,700 crore from Singareni Collieries Company (SCCL) to set up an 800 MW thermal power unit in Telangana.