BHEL orders touch new high in FY09

Bharat Heavy Electricals (BHEL), received new orders worth Rs 59,700 crore during the year ended March 31,2009, its highest in a year, and 20% more than the previous fiscal. This has come about even as there is a slowdown in the economy.

Capital goods sector is considered a bellwether for manufacturing sector and high supply orders indicate better prospects for the economy going forward. The latest order book position of other capital goods firms are yet to be made public but BHEL can be considered a lead indicator for the sector.

The public sector capital goods major’s new orders were more than twice its revenues in 2008-09. As per the provisional financial data announced last week, BHEL’s order backlog has now reached Rs 1,17,000 crore ($23 billion), 37% more than what it was during the same period in the previous year. The total order book is equivalent to nearly four and a half times the sales for the year. Growth in order book was even higher than the 29% growth in total revenues, which stood at Rs 27,500 crore for 2008-09.

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