Bharat Heavy Electricals (BHEL) has announced its provisional numbers for FY12 and Q4FY12. The company's FY12 turnover was up 14% at Rs 49301 crore versus Rs 43337 crore, year-on-year, YoY.
Heavy engineering major Bharat Heavy Electricals’ (BHEL) FY12 order book shrank 63% over the previous year to Rs 22096 crore, reflecting the sharp downturn in the investment cycle.
Not just BHEL, but also its peers in the power equipment, transmission and distribution segments were hit hard as their clients either cut back or deferred their investments in capacity expansion.
The company's provisional net profit for the quarter ended March rose 15% year-on-year to Rs 3208 crore, and quarterly revenues grew 13% to Rs 20741 crore. For the full year, both net profit and sales 14% each to Rs 6868 crore and Rs 49301 crore.
At the earnings press conference, BHEL's chairman and managing director B Prasada Rao said the company already has orders from 21 countries and back home from leading clients like Power Grid and ONGC.
Also Read: BHEL sees flat sales growth in FY13
In an interview to CNBC-TV18, Rao said the company is targeting about 15,000-16,000 megawatts (MW) orders. "Out of that, a number of projects have been lined up for the first quarter itself," he adds.
On the BSE, the stock hit a high of Rs 269.30 intra-day, before settling at Rs 264.20, up 1.5% over the previous close.
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