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   You are here :     Moneycontrol     MMB    Stocks      BHEL                         Most active discussions of 2006 , 2007 & 2008
You may find these useful... (21)   22-Jul-08 19:20Tracked by (0)  
Posted by:   saccha22 on ( 22-Jul-08 19:20 )
Price : BSE: Rs 1597.50 ( 6.04 % ), NSE: Rs. 1597.40 ( 6.05 % )
Dear friends,
Here are couple of news write ups on bhel, one written by Mr. Subramanyam Sharma for Bloomberg, and the other a PTI news item in Business Standard. Thought you may find them useful….
Mr. subramanyam sharma’s write up:
July 22 (Bloomberg) –Bharat Heavy Electricals Ltd, whose equipment lights three of every five homes in India, forecast profit and sales will increase more than 25 percent this fiscal year as it expands factories to build generators and turbines.
‘New capacities are coming in and vendors have increased their capability,’ Chairman and Managing Director K. Ravi Kumar said in an interview today in his office in New Delhi, where the company is based. Net income reached 28.6 billion rupees in the year ended March 31 on sales of 193.6 billion rupees.
BHEL yesterday reported a 33 percent increase in first-quarter profit, beating analysts' estimates. The state-run company, with 950 billion rupees of orders at the end of June, has enhanced annual capacity to make equipment that can generate 10,000 megawatts of electricity from 6,000 megawatts last year.
‘The biggest concern on the stock has been the company's execution capabilities and its ability to meet its 25 percent year-on-year growth guidance,’ Macquarie Research analysts Inderjeetsingh Bhatia and Somesh Agarwal, who rate the stock ‘outperform,’ wrote in a note to clients today. ‘We believe those concerns should be put to rest with this result.’
Shares of BHEL gained 6.9 percent to 1,610 rupees, the most since July 4, in Mumbai today. The benchmark index gained 2.2 percent.
Pressure on Margins
The company's profit margins are under pressure because of a rise in raw material costs and salaries, Citigroup Inc. analysts Venkatesh Balasubramaniam, Deepal Delivala and Atul Tiwari , who have a ‘buy’ rating, wrote in a note to clients today.
‘The effect of raw material prices affects BHEL with a lag of six-nine months,’ the Citigroup analysts said.
The price of steel in the first quarter was 13 percent higher than a year earlier, according to Niraj Shah, an analyst at Centrum Broking Pvt. in Mumbai. BHEL said earlier it is able to pass on cost increases of as much as 20 percent to about half its customers.
‘You can't judge by the three-month performance,’ Mr. Kumar said today. ‘We don't expect a squeeze in margins as far as our operations are concerned.’

From Business Standard:
State run power equipment maker Bharat Heavy Electricals (Bhel) has reported a net profit of Rs 384.41 crore for the first quarter ended June 30, 2008, a rise of 33 per cent compared to the same period a year ago.
It had registered a net profit of Rs 288.91 crore for the year ago period.
The company ‘s income rose 31.77 per cent to Rs 4,703.55 crore from Rs 3,569.56 crore in the same period last year, a company statement has said.
The company consumed raw materials worth rs 25,179 crore during the period, compared to Rs 19,008 crore in the same period last year.
Bhel at present has an order book of 95,000 crore that including many contracts from abroad.
It had recently bagged its first turnkey contract from Syria worth Rs 2,080 crore to develop 400 MW thermal power project in the country.
The order has been placed by Public Establishment of Electricity for generation and Transmission (PEEGT), Ministry of Electricity, Syria.
Bhel also received a rs 160crore order for supply of two gas turbilne generating units of 42 MW each from united Arab Emirites.
Bhel aims to become a Rs 45,000 crore company by 2011-12.
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