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BHEL Q3 PAT seen up 2% at Rs 1427 cr
State-owned BHEL is expected to report a profit after tax of Rs 1,427 crore in the third quarter of FY12, a moderate growth of 2% as compared to Rs 1,403 crore in a year ago quarter.
State-owned BHEL is expected to report a profit after tax of Rs 1,427 crore in the third quarter of FY12, a moderate growth of 2% as compared to Rs 1,403 crore in a year ago quarter.
Total income is seen going up by 20% to Rs 10,793 crore from Rs 9,023 crore year-on-year.
EBITDA is likely to move up 3% to Rs 2,125 crore in the quarter ended December FY12 versus Rs 2,072 crore in the corresponding quarter of last fiscal.
Operating profit margin is expected to be at 19.69% as against 22.96% during the same period.
Expectations
- Expect top line growth on the back of decent execution of large order backlog * Order backlog at the end of Q2FY12 stood at Rs 1,61,000 crore; up 1% QoQ
- Expect margin decline due to inflationary pressure, rising competition
Key concerns -
- Slowing order inflows
- Heightened competition
- Margin erosion
FY12 Guidance
Management had guided for a top line growth of 17-18% for FY12 * As per guidance, company needs to achieve top line of around Rs 51827 - Rs 52270 crore in FY12 * At H1FY12 top line of Rs 18,583 crore, company achieved around 36% of its top line guidance for FY12
Management guided for order inflows of Rs 60,000 crore for FY12 * YTD order inflows at the end of H1FY12 stood at Rs 16,770 crore * Company achieved order inflows of Rs 14,300 crore in Q1 and Rs 2,470 crore in Q2 * Require order inflows of Rs 43,230 crore in H2FY12 which seems unlikely * Company has so far only announced a Rs 7,800 crore order in Q3
