Bharat Heavy Electricals Limited (BHEL) in the Financial Year 2022-23, has sustained the momentum achieved in the previous fiscal, ending the year with significant traction in growth drivers.
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- During the year, BHEL recorded revenue from operations of Rs.23,365 Crore, up 10% over the previous year. The company achieved a Profit Before Tax (PBT) of Rs. 450 Crore, and Profit After Tax (PAT) of Rs. 448 Crore with continued focus on cost control and prudent resource management.
- Notably, BHEL’s strategic shift towards project-centric operations and focus on optimising project execution over the last four years has paid rich dividends. The company’s construction tonnage in projects across the country has shot up by a massive 100% in FY 2022-23 as compared to FY 2019-20, showcasing the increase in pace and efficiency of project execution.
- Liquidity has been maintained due to improved execution focus with realisation from current year billing going up from 59% to 86% over the past 4 years.
- BHEL secured orders worth Rs.23,548 Crore (excluding taxes) during 2022-23 in its power, industry and export segments and the company ended the year with a total order book of over Rs.91,336 Crore (excluding taxes). Significantly, this outstanding order book has crossed Rs.1,00,000 Crore (excluding taxes) with finalisation of the prestigious Vande Bharat train set order in April 2023.
- The BHEL-TWL (BHEL-Titagarh Wagons Ltd.) consortium have been awarded an order valued at about Rs.23,000 Crore (excluding taxes) for 80 Vande Bharat Trains in one of the biggest Railway tenders for manufacturing-cum-maintenance of Vande Bharat Trains. This order will give further impetus to the company’s diversification drive.
- As part of its diversification strategy, BHEL has also leveraged its Pressurised Fluidised Bed Gasification technology for coal gasification and has entered into an MoUs with Coal India Limited and NLCIL for development of coal gasification projects.
- Leveraging the capabilities of its Welding Research Institute (WRI) at Trichy – a leading welding and certification research institute in the country – the company is setting up Common Engineering Facility Centres (CEFC) at its Haridwar, Bhopal, Ranipet, Jhansi and Varanasi units including expansion at WRI Trichy, for imparting skills in advanced welding technologies under the ‘Enhancement of Competitiveness in the Indian Capital Goods Sector, Phase-II’ scheme of the Ministry of Heavy Industries.
- These centres aim to train 2,000 beneficiaries in the first year and 5,000 every year thereafter. Apart from strengthening internal processes for high quality, cost effective and timely execution, BHEL is continuing to work towards capitalising on emerging opportunities for sustained growth.
Source: BHEL- Press Release | Image Credit: BHEL
