Rs 1,60,000 crore order book: Heavy electrical equipment company signs MoU with Oil & Natural Gas Corporation Ltd
The stock is up by 10.8 per cent from its 52-week low of Rs 195.6 per share.
Bharat Heavy Electricals Limited (BHEL) and Oil & Natural Gas Corporation Ltd. (ONGC) have taken a significant step towards India's renewable energy goals by signing a Memorandum of Understanding (MoU). This collaboration focuses on exploring joint projects and collaborations in the burgeoning field of New and Renewable Energy, with a specific emphasis on technologies like Fuel Cells, Electrolyzers, and Battery Energy Storage Systems. This initiative is crucial in supporting the nation's ambitious National Green Hydrogen Mission.
The MoU, signed in the presence of key officials from both organizations, aims to leverage the combined strengths of BHEL and ONGC to drive innovation and accelerate the adoption of clean energy solutions. By pooling their expertise and resources, the two entities can effectively contribute to the development of a sustainable energy future for India. This partnership signifies a crucial step towards achieving the country's ambitious renewable energy targets.
This collaboration is expected to play a vital role in advancing the development and deployment of cutting-edge clean energy technologies. By focusing on areas like Fuel Cells, Electrolyzers, and Battery Energy Storage Systems, the partnership will contribute significantly to the growth of the green hydrogen sector in India. This joint effort aligns perfectly with the country's commitment to transitioning to a greener and more sustainable energy landscape.
About the Company
BHEL, a leading public sector enterprise under the Ministry of Heavy Industries and Public Enterprises, has been at the forefront of India's power sector for over six decades. With a strong track record in the design, engineering, and manufacturing of a wide range of power generation equipment, BHEL has played a pivotal role in powering the nation's economic growth. BHEL Limited manufactures various power plant equipment.
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Bharat Heavy Electricals Limited (BHEL) announced mixed sets of numbers in its Quarterly Results (Q2FY25) and half-yearly results (H1FY25). According to quarterly results, the net sales increased by 28.5 per cent to Rs 6,584.10 crore in Q2FY25 compared to Q2FY24. The company reported a net profit of Rs 89.53 crore in Q2FY25 compared to a net loss of Rs 74.96 crore in Q2FY24, an increase of 219.4 per cent. In its half-yearly results, the company reported net sales of Rs 12,069 crore and a net loss of Rs 136 crore in H2FY25 while in its annual results, the company reported net sales of Rs 23,893 crore and a net profit of Rs 218.24 crore in FY24.
The company has a market cap of over Rs 70,000 crore. The President of India’s portfolio owns 63.17 per cent and Life Insurance Corporation of India’s portfolio owns 6.72 per cent as of September 2024. Additionally, FIIs increased their stake to 9.48 per cent in September 2024 compared to 9.10 per cent in June 2024. Furthermore, the company’s order book stands at Rs 1,80,000 crore.
The company has been maintaining a healthy dividend payout of 27.8 per cent. The stock is up by 10.8 per cent from its 52-week low of Rs 195.6 per share. Investors should keep an eye on this PSU stock.
Disclaimer: The article is for informational purposes only and not investment advice.