BHEL receives overseas turnkey contract for grid connected solar PV power plant

Bharat Heavy Electricals Limited (BHEL) announced today that it has received a maiden overseas turnkey contract for a grid-connected 8 MWac solar photovoltaic (PV) power plant. As per the contract, the solar farm will be set up by BHEL at Tamarind Falls, Henrietta (Phase II, Mauritius) on engineering, procurement & construction (EPC) basis.  

Reacting to this, the company’s stock today increased by 1.54 per cent and made an intraday high of Rs 52.80 per share.  

Besides, the company reported a net loss of Rs 236.12 crore in Q3FY21. It had reported a profit of Rs 151.90 crore in Q3FY20. The company reported net sales of Rs 4,203.04 crore for Q3FY21, a decrease of 23.01 per cent as against the net sales of Rs 5,459.24 crore for Q3FY20.   

BHEL is the leading power equipment manufacturer in the country with 56 sets of supercritical boilers and 51 sets of supercritical turbine generators ordered on it by various central, state as well as private sector utilities.  

According to BSE data, the stock traded at a price-to-book ratio of 0.65 The stock has a 52-week high and a 52-week low of Rs 56.50 and Rs 19.20, respectively.   

At the time of market closing, the stock of the company was trading at Rs 52.20, up by 0.38 per cent on BSE.