Bharat Heavy Electricals Ltd expects a possible increase in orders for atomic power projects based on the indigenous reactor technology than what was originally envisaged.
This comes amid anticipated delays in the setting up of projects based on imported reactor technologies, forcing the Government to scale up its mainstay PHWR (pressurised heavy water reactor) technology in order to get anywhere close to reaching its target of 20,000 MW by 2020.
The state owned equipment major, which is in advanced stages of rolling out a venture with Nuclear Power Corporation and French major Alstom for executing the conventional island portion (or the non reactor part) of upcoming indigenous technology based projects, sees itself well placed for the emerging opportunity.
Mr BP Rao CMD of BHEL said that “We (the venture with NPCIL and Alstom) have got orders for two units… There are indications now that we could go beyond the total of eight units expected earlier as there could be delays in (projects based on) the imported technologies. BHEL is well placed for the opportunity.” In view of the emerging prospects in the nuclear business, BHEL is ramping up its capacity further at its Bhopal facility.
more at:
http://www.steelguru.com/indian_news/BHEL_sees_rise_in_orders_for_nuke_projects_based_on_indigenous_reactor_technology/217400.html
Sunday, July 31, 2011
Thursday, July 28, 2011
BHEL book closure dates' revision stumps traders
The sudden revision inbook closure dates of BHEL shocked many traders as the unexpected move caused many of them a loss ofdividend and also the cost of carry that they paid to extend their futures positions in the stock.
While the public sector heavy engineering major had decided to hold the book closure between September 6 and 20, according to the earlier schedule, traders prefer to carry forward their positions to August, instead of converting them in cash which would have made them eligible for dividend.
Their calculations, however, went wrong with Bhel's decision to advance the book closure dates to between August 12 and 19, said a dealer. The move upset calculations of traders as it was announced just a few days before the expiry of July contracts on Thursday as by then they had already carried forward their positions.
Those who have rolled over their positions will lose out on the final dividend of 17.9 that Bhel has announced for 2010-11, said the dealer. Bhel shares rose 1.2% to 1,847 on Thursday.
ref:
http://economictimes.indiatimes.com/markets/stocks/stocks-in-news/bhel-book-closure-dates-revision-stumps-traders/articleshow/9403133.cms
While the public sector heavy engineering major had decided to hold the book closure between September 6 and 20, according to the earlier schedule, traders prefer to carry forward their positions to August, instead of converting them in cash which would have made them eligible for dividend.
Their calculations, however, went wrong with Bhel's decision to advance the book closure dates to between August 12 and 19, said a dealer. The move upset calculations of traders as it was announced just a few days before the expiry of July contracts on Thursday as by then they had already carried forward their positions.
Those who have rolled over their positions will lose out on the final dividend of 17.9 that Bhel has announced for 2010-11, said the dealer. Bhel shares rose 1.2% to 1,847 on Thursday.
ref:
http://economictimes.indiatimes.com/markets/stocks/stocks-in-news/bhel-book-closure-dates-revision-stumps-traders/articleshow/9403133.cms
Wednesday, July 27, 2011
BHEL: Rising costs to hurt fresh order inflows
Registering a modest 10% year-on-year growth in the topline for the first quarter FY12, BHEL's revenue growth has fallen way short of expectations, despite a healthy order book. The YoY sales growth for Q1 FY12 is, in fact, the lowest since Q1 FY05. Logistical issues are being cited as one of the key reasons for this shortfall in revenue.
The closure of JNPT for facility upgradation for more than a month, resulting in equipment export and import delays, appears to have impacted the Q1 revenues by about Rs 600-700 crore.
Apart from revenue growth, a slump in freshorder inflows during the quarter has also raised concerns among investors leading to a sharp dip in the stock price of the company, which is currently trading below Rs 1,900 per share.
The company has an order backlog of Rs 1,59,600 crore as on June 30, 2011 vis-a-vis its order book position of over 1,64,000 a quarter ago. While even with the current backlog, the company is comfortably placed having revenue visibility for at least three years. Further slippages in the order inflows can significantly impact its performance in the near future.
more at:
http://economictimes.indiatimes.com/news/news-by-company/earnings/earnings-analysis-/bhel-rising-costs-to-hurt-fresh-order-inflows/articleshow/9390348.cms
The closure of JNPT for facility upgradation for more than a month, resulting in equipment export and import delays, appears to have impacted the Q1 revenues by about Rs 600-700 crore.
Apart from revenue growth, a slump in freshorder inflows during the quarter has also raised concerns among investors leading to a sharp dip in the stock price of the company, which is currently trading below Rs 1,900 per share.
The company has an order backlog of Rs 1,59,600 crore as on June 30, 2011 vis-a-vis its order book position of over 1,64,000 a quarter ago. While even with the current backlog, the company is comfortably placed having revenue visibility for at least three years. Further slippages in the order inflows can significantly impact its performance in the near future.
more at:
http://economictimes.indiatimes.com/news/news-by-company/earnings/earnings-analysis-/bhel-rising-costs-to-hurt-fresh-order-inflows/articleshow/9390348.cms
BHEL seeks to work with developers of hydro power plant in Zambia
Zambia’s efforts to revitalize the economy through undertaking various developmental projects has continued to attract many foreign investors across the globe with the latest being India’s Bharat Heavy Electricals Limited which seeks to partner with Chinese companies in building an additional hydro power plant and boost power generation.
The Indian company, plans to team up with China’s leading company, Sinohydro Corporation through supply of electromechanical equipment for the development of 120 megawatts hydropower project in Zambia.
The Indian company stated that for the hydropower project in Zambia, India has offered USD 50 million line of credit. In January 2010, the Export Import Bank of India signed an agreement with the Zambian government to extend USD 50 million line of credit for the Itezhi Tezhi project worth USD 200 million. While extending the line of credit the Indian government said that through its line of credit 75% of the equipment purchased must be sourced from India.
more at:
http://www.steelguru.com/metals_news/BHEL_seeks_to_work_with_developers_of_hydro_power_plant_in_Zambia/216811.html
The Indian company, plans to team up with China’s leading company, Sinohydro Corporation through supply of electromechanical equipment for the development of 120 megawatts hydropower project in Zambia.
The Indian company stated that for the hydropower project in Zambia, India has offered USD 50 million line of credit. In January 2010, the Export Import Bank of India signed an agreement with the Zambian government to extend USD 50 million line of credit for the Itezhi Tezhi project worth USD 200 million. While extending the line of credit the Indian government said that through its line of credit 75% of the equipment purchased must be sourced from India.
more at:
http://www.steelguru.com/metals_news/BHEL_seeks_to_work_with_developers_of_hydro_power_plant_in_Zambia/216811.html
Tuesday, July 26, 2011
Bhel’s June quarter results lead to derating
Bharat Heavy Electricals Ltd (Bhel), one of the bellwether stocks in the capital goods sector, has reported dismal results for the June quarter. At the end of the March quarter, the company seemed to be sitting pretty with an order book of Rs. 1.64 trillion, or close to four times its annual revenue. The firm had also told analysts that it expects revenue to grow 20% in the current fiscal year, which had then seemed to be an easily achievable task.
In that backdrop, analysts tracking the firm had estimated revenue growth of 20-26% in the June quarter. Instead, Bhel reported a year-on-year growth of 10%. Clearly, the rate at which the company executed orders in the March quarter is a matter of concern.
But the bigger worry is the rate at which it is winning orders. Order inflows last quarter stood at merely Rs. 2,400 crore, according to an analyst who attended the company’s “by invitation only” post-earnings conference call. Bhel’s order book, in fact, fell marginally to Rs. 1.6 trillion, compared with the March quarter.
more at:
http://www.livemint.com/2011/07/26222807/Bhel8217s-June-quarter-resu.html
In that backdrop, analysts tracking the firm had estimated revenue growth of 20-26% in the June quarter. Instead, Bhel reported a year-on-year growth of 10%. Clearly, the rate at which the company executed orders in the March quarter is a matter of concern.
But the bigger worry is the rate at which it is winning orders. Order inflows last quarter stood at merely Rs. 2,400 crore, according to an analyst who attended the company’s “by invitation only” post-earnings conference call. Bhel’s order book, in fact, fell marginally to Rs. 1.6 trillion, compared with the March quarter.
more at:
http://www.livemint.com/2011/07/26222807/Bhel8217s-June-quarter-resu.html
BHEL Q1 net profit up 22% at Rs 815 cr
State-run BHEL has reported a jump of 22% (YoY) in its first quarter FY12 net profit. In the April-June quarter, company's net profit increased to Rs 815 crore against Rs 667.7 crore in same quarter the previous fiscal year.
Net sales were up 10% to Rs 7,190 crore from Rs 6,479.7 crore year-on-year.
CNBC-TV18 poll saw net sales of Rs 7,954.36 crore and net profit of Rs 857.90 crore.
Raw material cost in the first quarter increased 16% to Rs 4,581 crore while employee costs fell 3% to Rs 1301 crore year-on-year.
Depreciation cost jumped quite sharply by 35% (YoY) to Rs 171 crore. Other income went up to Rs 249 crore from Rs 163 crore during the same period.
Segment performance
Revenues from power division rose 7% to Rs 5,780 crore while EBIT was down 11% to Rs 952 crore.
Industry revenues went up 12% to Rs 1,653 crore and EBIT shot up 1.19 times to Rs 373 crore.
There was a complete lull in the order inflow during the quarter. Order book at the end of Q1FY12 stood at Rs 1,59,600 crore against Rs 1,64,100 crore at the end of Q4FY12.
ref:
http://www.moneycontrol.com/news/brokerage-results-estimates/bhel-q1-net-profit22-at-rs-815-cr_569093.html
Net sales were up 10% to Rs 7,190 crore from Rs 6,479.7 crore year-on-year.
CNBC-TV18 poll saw net sales of Rs 7,954.36 crore and net profit of Rs 857.90 crore.
Raw material cost in the first quarter increased 16% to Rs 4,581 crore while employee costs fell 3% to Rs 1301 crore year-on-year.
Depreciation cost jumped quite sharply by 35% (YoY) to Rs 171 crore. Other income went up to Rs 249 crore from Rs 163 crore during the same period.
Segment performance
Revenues from power division rose 7% to Rs 5,780 crore while EBIT was down 11% to Rs 952 crore.
Industry revenues went up 12% to Rs 1,653 crore and EBIT shot up 1.19 times to Rs 373 crore.
There was a complete lull in the order inflow during the quarter. Order book at the end of Q1FY12 stood at Rs 1,59,600 crore against Rs 1,64,100 crore at the end of Q4FY12.
ref:
http://www.moneycontrol.com/news/brokerage-results-estimates/bhel-q1-net-profit22-at-rs-815-cr_569093.html
Sunday, July 24, 2011
BHEL starts usance LC for private sector power plant equipment orders
Bharat Heavy Electricals has introduced a payment mode specifically targeted at private power project developers.
The newly introduced Usance letter of credit allows project developers a grace period for payment to BHEL against equipment orders.
The new payment term offers better comfort to private players, who have been responsible for boosting BHEL’s order books in the last couple of years and are scheduled to execute well over half the projects slated to come up in the next Five Year period (Twelfth Plan). The move is being seen a counter to Chinese equipment suppliers, who have an advantage in terms of offering payment support to customers through low cost China EXIM funding.
Mr BP Rao CMD of BHEL told Business Line that “We have introduced the Usance LC which offers better comfort to project developers. There`s been a positive response from the industry.”
ref:
http://www.steelguru.com/indian_news/BHEL_starts_usance_LC_for_private_sector_power_plant_equipment_orders/216362.html
The newly introduced Usance letter of credit allows project developers a grace period for payment to BHEL against equipment orders.
The new payment term offers better comfort to private players, who have been responsible for boosting BHEL’s order books in the last couple of years and are scheduled to execute well over half the projects slated to come up in the next Five Year period (Twelfth Plan). The move is being seen a counter to Chinese equipment suppliers, who have an advantage in terms of offering payment support to customers through low cost China EXIM funding.
Mr BP Rao CMD of BHEL told Business Line that “We have introduced the Usance LC which offers better comfort to project developers. There`s been a positive response from the industry.”
ref:
http://www.steelguru.com/indian_news/BHEL_starts_usance_LC_for_private_sector_power_plant_equipment_orders/216362.html
Friday, July 22, 2011
Bhel seeks to join Chinese firm for 120MW Zambian project
Bharat Heavy Electricals Ltd (Bhel) wants to supply electromechanical equipment to China’s Sinohydro Corp. for a 120 megawatts (MW) hydropower project in Zambia for which India has offered a $50 million (Rs222 crore today) line of credit.
“Since this project is part funded by the government of India and we are a government of India enterprise meeting all criteria for award of any order under the government line of credit, we would like to be considered for this supply,” Bhel said in an email to Sinohydro on 15 June. Mint has reviewed the email.
“We had written to the ministry of external affairs about the Zambian project going to the Chinese firm...we have approached Sinohydro to supply electromechanical equipment for the project valued at $50 million a month back,” said a Bhel executive, asking not to be named.
“We are still pursuing the issue with Sinohydro,” said another Bhel executive, requesting anonymity.
more at:
http://www.livemint.com/2011/07/21221720/Bhel-seeks-to-join-Chinese-fir.html?h=B
“Since this project is part funded by the government of India and we are a government of India enterprise meeting all criteria for award of any order under the government line of credit, we would like to be considered for this supply,” Bhel said in an email to Sinohydro on 15 June. Mint has reviewed the email.
“We had written to the ministry of external affairs about the Zambian project going to the Chinese firm...we have approached Sinohydro to supply electromechanical equipment for the project valued at $50 million a month back,” said a Bhel executive, asking not to be named.
“We are still pursuing the issue with Sinohydro,” said another Bhel executive, requesting anonymity.
more at:
http://www.livemint.com/2011/07/21221720/Bhel-seeks-to-join-Chinese-fir.html?h=B
Thursday, July 21, 2011
BHEL mulls shipping boilers
Bharat Heavy Electricals Ltd (BHEL) Thursday said it is looking at multi-modal transport options, including coastal shipping, to reduce the delivery time of boilers from its Tiruchirapalli unit in Tamil Nadu.
The company is in talks with Karaikal Port, in the union territory of Puducherry, to carry its equipment by sea and also with Indian Railways.
'We are using Karaikal Port for our export shipments. Similarly, we are exploring the options of carrying our boilers and related equipments on ships. As per our plan, we will unload our cargo at Karaikal Port and the port authorities will take care of loading and onward shipment and unloading at the destination,' the firm's executive director A.V. Krishnan told reporters here.
Tiruchirapalli is around 320 km from Chennai.
According to him, BHEL is executing projects in the eastern region and would like to ship its heavy boilers and other items to Paradip (Orissa) or Haldia (West Bengal) ports.
Already, the power company has shipped equipments for a 4x125 MW gas based power project in Tripura through Bangladesh.
more at:
http://news.in.msn.com/business/article.aspx?cp-documentid=5307568
The company is in talks with Karaikal Port, in the union territory of Puducherry, to carry its equipment by sea and also with Indian Railways.
'We are using Karaikal Port for our export shipments. Similarly, we are exploring the options of carrying our boilers and related equipments on ships. As per our plan, we will unload our cargo at Karaikal Port and the port authorities will take care of loading and onward shipment and unloading at the destination,' the firm's executive director A.V. Krishnan told reporters here.
Tiruchirapalli is around 320 km from Chennai.
According to him, BHEL is executing projects in the eastern region and would like to ship its heavy boilers and other items to Paradip (Orissa) or Haldia (West Bengal) ports.
Already, the power company has shipped equipments for a 4x125 MW gas based power project in Tripura through Bangladesh.
more at:
http://news.in.msn.com/business/article.aspx?cp-documentid=5307568
HUL, BHEL in Forbes ten most innovative firms of the world
Two Indian companies Hindustan Unilever (HUL) and Bharat Heavy Electricals (BHEL) have featured in the ten most innovative companies in the world by the US magazine Forbes' latest edition. While the fast moving consumer goods giant is placed at the sixth position ahead of Google, BHEL is ranked ninth in the list, which is topped by US-based IT service provider Salesforce.com.
The magazine said the list is based on a study by Harvard Business School professor Clayton M Christensen, Jeff Dyer, professor at Brigham Young University, and Hal B Gregersen, professor of leadership at INSEAD.
Online retail firm Amazon has been placed at the second position with Intuitive Surgical in third, while Apple and Google ranked fifth and seventh respectively in the list.
"Our method relies on investors—voting with their wallets—to identify the companies they expect to be innovative today and in the future. Among them are familiar ground breakers like Amazon, Apple and Google," according to the study which is published in Forbes latest edition.
more at:
http://www.hindustantimes.com/HUL-Bhel-in-Forbes-ten-most-innovative-firms-of-the-world/Article1-723756.aspx
The magazine said the list is based on a study by Harvard Business School professor Clayton M Christensen, Jeff Dyer, professor at Brigham Young University, and Hal B Gregersen, professor of leadership at INSEAD.
Online retail firm Amazon has been placed at the second position with Intuitive Surgical in third, while Apple and Google ranked fifth and seventh respectively in the list.
"Our method relies on investors—voting with their wallets—to identify the companies they expect to be innovative today and in the future. Among them are familiar ground breakers like Amazon, Apple and Google," according to the study which is published in Forbes latest edition.
more at:
http://www.hindustantimes.com/HUL-Bhel-in-Forbes-ten-most-innovative-firms-of-the-world/Article1-723756.aspx
Tuesday, July 19, 2011
BHEL shortlists Bank of America Merrill Lynch, Morgan Stanley, Kotak Mahindra and ICICI Securities for share sale
Bharat Heavy Electricals has shortlisted Bank of America Merrill Lynch , Morgan Stanley and two Indian banks to manage its share sale valued at about $1 billion, sources with knowledge of the situation said.
The state-run top power gear maker has also shortlisted Kotak Mahindra and ICICI Securities , a unit of India's No. 2 lender ICICI Bank , for bookrunning the share sale, three sources said on Tuesday.
The sources declined to be named as the information was not public yet.
The Indian government plans to sell 5 percent of its stake in BHEL through the follow-on public share offering, the timing of which is yet to be decided. At current market price, the stake is valued at about $1 billion.
ref:
http://economictimes.indiatimes.com/markets/ipos/fpos/rights-issues/bhel-shortlists-bank-of-america-merrill-lynch-morgan-stanley-kotak-mahindra-and-icici-securities-for-share-sale/articleshow/9286921.cms
The state-run top power gear maker has also shortlisted Kotak Mahindra and ICICI Securities , a unit of India's No. 2 lender ICICI Bank , for bookrunning the share sale, three sources said on Tuesday.
The sources declined to be named as the information was not public yet.
The Indian government plans to sell 5 percent of its stake in BHEL through the follow-on public share offering, the timing of which is yet to be decided. At current market price, the stake is valued at about $1 billion.
ref:
http://economictimes.indiatimes.com/markets/ipos/fpos/rights-issues/bhel-shortlists-bank-of-america-merrill-lynch-morgan-stanley-kotak-mahindra-and-icici-securities-for-share-sale/articleshow/9286921.cms
BHEL bags three ICWAI awards
Bharat Heavy Electricals Ltd today said it has bagged three ICWAI national awards for excellence in cost management.
Instituted by the Institute of Cost and Works Accountants of India (ICWAI), the awards recognise companies for their excellence in cost management and cost management practices.
BHEL’s units at Tiruchi, Ranipet and Jhansi have been selected for the 2010 ICWAI awards in various categories.
In a statement, BHEL said it has been “conferred the maximum number of ICWAI national awards for excellence in cost management, among public and private sector companies.”
BHEL’s net profit jumped 39 per cent to Rs 6,011 crore in 2010-11 vis-a-vis the previous year. The entity’s turnover stood at Rs 43,337 crore in the 2009-10 fiscal.
“Prudent cost management practices across the company have enabled BHEL to reduce material cost by a significant 5.22 per cent in the year 2010-11. In addition, staff costs have been curtailed to the tune of 2.6 per cent during the year,” it added.
ref:
http://www.thehindubusinessline.com/companies/article2256276.ece
Instituted by the Institute of Cost and Works Accountants of India (ICWAI), the awards recognise companies for their excellence in cost management and cost management practices.
BHEL’s units at Tiruchi, Ranipet and Jhansi have been selected for the 2010 ICWAI awards in various categories.
In a statement, BHEL said it has been “conferred the maximum number of ICWAI national awards for excellence in cost management, among public and private sector companies.”
BHEL’s net profit jumped 39 per cent to Rs 6,011 crore in 2010-11 vis-a-vis the previous year. The entity’s turnover stood at Rs 43,337 crore in the 2009-10 fiscal.
“Prudent cost management practices across the company have enabled BHEL to reduce material cost by a significant 5.22 per cent in the year 2010-11. In addition, staff costs have been curtailed to the tune of 2.6 per cent during the year,” it added.
ref:
http://www.thehindubusinessline.com/companies/article2256276.ece
Monday, July 18, 2011
Nine merchant bankers make presentations for BHEL FPO
Nine shortlisted merchant bankers, including ICICI Securities, Kotak Mahindra Capital and IDBI Capital, are understood to have made presentations before the government today for the proposed follow-on public offer (FPO) of power equipment maker BHEL .
The government is expected to raise over USD 1 billion (about Rs 4,700 crore) by offloading five per cent of its stake in state-run BHEL.
Sources said that nine merchant bankers today made separate presentations before the government for BHEL's follow-on public offer today.
The choice of merchant bankers is likely to be finalised tomorrow, sources added.
Of the 17 merchant bankers shortlisted for BHEL's proposed FPO, nine were to make presentations today, the Department of Disinvestment had said last week.
more at:
http://www.moneycontrol.com/news/ipo-news/nine-merchant-bankers-make-presentations-for-bhel-fpo_566541.html
The government is expected to raise over USD 1 billion (about Rs 4,700 crore) by offloading five per cent of its stake in state-run BHEL.
Sources said that nine merchant bankers today made separate presentations before the government for BHEL's follow-on public offer today.
The choice of merchant bankers is likely to be finalised tomorrow, sources added.
Of the 17 merchant bankers shortlisted for BHEL's proposed FPO, nine were to make presentations today, the Department of Disinvestment had said last week.
more at:
http://www.moneycontrol.com/news/ipo-news/nine-merchant-bankers-make-presentations-for-bhel-fpo_566541.html
BHEL commissions country’s first 525 MW set at Maithon thermal project
Bharat Heavy Electricals Ltd has announced the successful commissioning of the country's first thermal set of 525 MW rating at Maithon Right Bank Thermal Power Project in Jharkhand.
BHEL had won the order for the 2x525 MW greenfield power project outbidding a leading Chinese equipment supplier under an international competitive bidding process from Maithon Power Ltd (MPL).
MPL is a joint venture company of Tata Power and Damodar Valley Corporation (DVC).
This was the first order secured by BHEL for the new rating units of 525 MW. Subsequently, BHEL has secured orders for four more such units, taking the number of 525 MW sets contracted to six so far, the company said in a statement.
ref:
http://www.thehindubusinessline.com/companies/article2237824.ece
BHEL had won the order for the 2x525 MW greenfield power project outbidding a leading Chinese equipment supplier under an international competitive bidding process from Maithon Power Ltd (MPL).
MPL is a joint venture company of Tata Power and Damodar Valley Corporation (DVC).
This was the first order secured by BHEL for the new rating units of 525 MW. Subsequently, BHEL has secured orders for four more such units, taking the number of 525 MW sets contracted to six so far, the company said in a statement.
ref:
http://www.thehindubusinessline.com/companies/article2237824.ece
Saturday, July 16, 2011
BHEL bets on Chinese inputs to beat cost squeeze
Bharat Heavy Electricals Ltd (BHEL) is looking to actively increase its vendor base in China in order to competitively source specialised inputs needed for its Indian units, a top company official told Business Line during a recent interaction.
Amid a sharp increase in the commodity cycle, this is one of the key strategies the engineering major hopes to deploy extensively to check rising material costs, BHEL's Chairman and Managing Director, Mr B.P. Rao, said.
“There are some clear advantages in sourcing products from China, provided the quality aspects are strictly adhered to. We are looking to increase our source base there, especially for materials such as castings and forgings, as well as specialised products such as P91 and P92 steels,” Mr Rao said.
‘P91' and ‘P92' steels find use in pipelines and power unit components that are part of conventional boilers on account of their high strength at elevated temperatures.
BHEL has deputed marketing and sourcing personnel at its newly established China office who would facilitate the procurement of raw materials. The options in the long term include enabling the company to order power generating parts when they see potential for procuring for another project.
more at:
http://www.thehindubusinessline.com/companies/article2233608.ece?homepage=true
Amid a sharp increase in the commodity cycle, this is one of the key strategies the engineering major hopes to deploy extensively to check rising material costs, BHEL's Chairman and Managing Director, Mr B.P. Rao, said.
“There are some clear advantages in sourcing products from China, provided the quality aspects are strictly adhered to. We are looking to increase our source base there, especially for materials such as castings and forgings, as well as specialised products such as P91 and P92 steels,” Mr Rao said.
‘P91' and ‘P92' steels find use in pipelines and power unit components that are part of conventional boilers on account of their high strength at elevated temperatures.
BHEL has deputed marketing and sourcing personnel at its newly established China office who would facilitate the procurement of raw materials. The options in the long term include enabling the company to order power generating parts when they see potential for procuring for another project.
more at:
http://www.thehindubusinessline.com/companies/article2233608.ece?homepage=true
BHEL - Q1 results on July 26, 2011
Bharat Heavy Electricals Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 26, 2011, inter alia, to consider and take on record the Unaudited Financial Results of BHEL for the quarter ended on June 30, 2011 (Q1).
ref:
http://www.moneycontrol.com/stocks/stock_market/corp_notices.php?autono=454459
ref:
http://www.moneycontrol.com/stocks/stock_market/corp_notices.php?autono=454459
Friday, July 15, 2011
Bhel to build 3 power plants on land for 2 in West Bengal
West Bengal's power generator is tweaking layout plans for two of its under-construction units to accommodate another plant at the same site following the Mamata Banerjee government's reluctance to buy fresh land for projects.
"Given the rate at which power demand is rising in West Bengal, the state needs to add additional units. With land acquisition an issue, we will try to accommodate as much as we can on our existing land," said a state power ministry official.
Accordingly, the management of state-owned West Bengal Power Development Corporation has asked Bhel, which is installing the units, to plan for another 500-MW unit at the same location.
The corporation is setting up two 500MW units at Sagardighi in Murshidabad district. It gave Bhel the contract for setting up the twin units, which are expected to start commercial generation by early 2014. Another state power department official said, "We wanted to make optimal use of the land.
more at:
http://economictimes.indiatimes.com/news/news-by-industry/energy/power/bhel-to-build-3-power-plants-on-land-for-2-in-west-bengal/articleshow/9241426.cms
"Given the rate at which power demand is rising in West Bengal, the state needs to add additional units. With land acquisition an issue, we will try to accommodate as much as we can on our existing land," said a state power ministry official.
Accordingly, the management of state-owned West Bengal Power Development Corporation has asked Bhel, which is installing the units, to plan for another 500-MW unit at the same location.
The corporation is setting up two 500MW units at Sagardighi in Murshidabad district. It gave Bhel the contract for setting up the twin units, which are expected to start commercial generation by early 2014. Another state power department official said, "We wanted to make optimal use of the land.
more at:
http://economictimes.indiatimes.com/news/news-by-industry/energy/power/bhel-to-build-3-power-plants-on-land-for-2-in-west-bengal/articleshow/9241426.cms
Wednesday, July 13, 2011
China power gear better than Bhel’s
Amid demand from domestic industry for duty barriers against power equipment imports from China, the Planning Commission has said plants set up with Chinese gear have shown better performance than those using items supplied by state-run Bhel.
The panel's report card on the power sector's performance so far in the 2007-12 Plan period and the strategy for 2011-12 also raises concerns over Bhel's management capacity in setting up new plants. It also flags delayed supply of equipment by the company as one of the impediments to increase the pace of generation capacity addition this fiscal.
"Bhel has added new manufacturing capacity but has poor management capacity in setting up new power plants. There has been serious delay in plants where Bhel has supplied T&G (turbine & generator) or boilers. Performance of new power plants based on Chinese equipment is better," the report card says.
more at:
http://timesofindia.indiatimes.com/business/india-business/China-power-gear-better-than-Bhels/articleshow/9216583.cms
The panel's report card on the power sector's performance so far in the 2007-12 Plan period and the strategy for 2011-12 also raises concerns over Bhel's management capacity in setting up new plants. It also flags delayed supply of equipment by the company as one of the impediments to increase the pace of generation capacity addition this fiscal.
"Bhel has added new manufacturing capacity but has poor management capacity in setting up new power plants. There has been serious delay in plants where Bhel has supplied T&G (turbine & generator) or boilers. Performance of new power plants based on Chinese equipment is better," the report card says.
more at:
http://timesofindia.indiatimes.com/business/india-business/China-power-gear-better-than-Bhels/articleshow/9216583.cms
Tuesday, July 12, 2011
Bhel plans to enter Burkina Faso, Niger, Sierra Leone
As part of India’s overall strategy to strengthen relationships with mineral- and resource-rich African countries, state-run Bharat Heavy Electricals Ltd (Bhel) plans to enter new markets such as Burkina Faso, Niger and Sierra Leone by supplying power generation equipment valued at Rs.3,200 crore, said senior Bhel executives.
The projects, both in coal and hydropower, are to be set up by the respective governments of these mineral-rich countries and are expected to be executed through the Indian government’s support.
“We are looking at two orders in Burkina Faso. One is an engineering, procurement and construction (EPC) order for a 200 megawatts (MW) coal-based project and the other is for supplying electromechanical equipment for a 100MW hydropower project,” said a senior Bhel executive, who did not want to be identified.
more:
http://www.livemint.com/2011/07/12213440/Bhel-plans-to-enter-Burkina-Fa.html?atype=tp
The projects, both in coal and hydropower, are to be set up by the respective governments of these mineral-rich countries and are expected to be executed through the Indian government’s support.
“We are looking at two orders in Burkina Faso. One is an engineering, procurement and construction (EPC) order for a 200 megawatts (MW) coal-based project and the other is for supplying electromechanical equipment for a 100MW hydropower project,” said a senior Bhel executive, who did not want to be identified.
more:
http://www.livemint.com/2011/07/12213440/Bhel-plans-to-enter-Burkina-Fa.html?atype=tp
Monday, July 4, 2011
Cabinet okay for BHEL divestment next week
The Union cabinet is likely to approve disinvestment of five per cent of the government’s equity in state-run equipment company Bharat Heavy Electricals Ltd (BHEL) next week. This is part of the government’s plan to raise Rs 40,000 crore from disinvestment in the current financial year.
“The Cabinet note has already been moved. The approval is likely to come by next week,” a person close to the development said. The divestment of BHEL is expected to raise about Rs 4,500 crore and the government’s stake would then reduce to 62.72 per cent from the current 67.72 per cent.
BHEL's board of directors had recommended the five per cent disinvestment in May.
About 10 per cent of the equity to be offloaded is to be reserved for employees. BHEL had also announced splitting of stocks of the face value of Rs 10 into five shares having a value of Rs 2 each.
In the current financial year, starting April 1, the government has raised Rs 1,162 crore through divestment, of a five per cent stake in Power Finance Corporation in May. Initially, BHEL was not originally part of the government’s list for disinvestment in this year.
Oil and Natural Gas Corporation, Steel Authority of India Ltd, Hindustan Copper, Rashtriya Ispat Nigam Ltd and National Buildings Construction Corp are to also see divestment by the government in 2011-12. In 2010-11, the government had raised Rs 22,400 crore through divestment in Coal India, SJVNL, Power Grid, Engineers India, MOIL and Shipping Corporation of India.
For the year ended March 31, 2011, BHEL had recorded an increase of about 40 per cent in consolidated net profit, at Rs 6,053 crore. The consolidated income grew 26 per cent to Rs 43,679 crore in 2010-11.
ref:
http://www.business-standard.com/india/news/cabinet-okay-for-bhel-divestment-next-week/441561/
“The Cabinet note has already been moved. The approval is likely to come by next week,” a person close to the development said. The divestment of BHEL is expected to raise about Rs 4,500 crore and the government’s stake would then reduce to 62.72 per cent from the current 67.72 per cent.
BHEL's board of directors had recommended the five per cent disinvestment in May.
About 10 per cent of the equity to be offloaded is to be reserved for employees. BHEL had also announced splitting of stocks of the face value of Rs 10 into five shares having a value of Rs 2 each.
In the current financial year, starting April 1, the government has raised Rs 1,162 crore through divestment, of a five per cent stake in Power Finance Corporation in May. Initially, BHEL was not originally part of the government’s list for disinvestment in this year.
Oil and Natural Gas Corporation, Steel Authority of India Ltd, Hindustan Copper, Rashtriya Ispat Nigam Ltd and National Buildings Construction Corp are to also see divestment by the government in 2011-12. In 2010-11, the government had raised Rs 22,400 crore through divestment in Coal India, SJVNL, Power Grid, Engineers India, MOIL and Shipping Corporation of India.
For the year ended March 31, 2011, BHEL had recorded an increase of about 40 per cent in consolidated net profit, at Rs 6,053 crore. The consolidated income grew 26 per cent to Rs 43,679 crore in 2010-11.
ref:
http://www.business-standard.com/india/news/cabinet-okay-for-bhel-divestment-next-week/441561/
P.K. Bajpai is new Director Finance of BHEL
Mr P.K. Bajpai, has assumed charge as Director (Finance) of engineering major Bharat Heavy Electricals Ltd (BHEL).
Prior to the appointment of the State-owned firm's board, the 56-year-old Mr Bajpai was heading the company’s financial services division as Executive Director.
A Mechanical Engineer from IIT, Kanpur; MBA from the University of Leeds, UK and AICWA from the Institute of Cost and Works Accountants of India, Mr Bajpai joined BHEL as an Engineer Trainee in 1977, a company release said. He has 34 years of diversified and versatile professional experience through working in major segments of BHEL.
ref:
http://www.thehindubusinessline.com/companies/article2158045.ece
Prior to the appointment of the State-owned firm's board, the 56-year-old Mr Bajpai was heading the company’s financial services division as Executive Director.
A Mechanical Engineer from IIT, Kanpur; MBA from the University of Leeds, UK and AICWA from the Institute of Cost and Works Accountants of India, Mr Bajpai joined BHEL as an Engineer Trainee in 1977, a company release said. He has 34 years of diversified and versatile professional experience through working in major segments of BHEL.
ref:
http://www.thehindubusinessline.com/companies/article2158045.ece
Sunday, July 3, 2011
Bhel's NBFC plan delayed, board seeks changes: CMD
Cash-rich power equipment giant Bhel's plan to float a non-banking finance company has been delayed as the board of the PSU has asked consultancy firm Crisil to incorporate some changes before finalising the contours of the NBFC proposal. "Our consultant -- Crisil -- has worked out details and submitted the report to the board, which has asked them make some changes, the revised report would be considered by the board again in next 1-2 months," Bhel CMD BP Rao told PTI in an interview.
"Certain working changes were sought by the board," he said, but did not specify what changes the board has asked for.
Bhel, which is sitting on a cash surplus of Rs 9,000 crore, plans to foray into NBFC space to fund power projects. Creation of the NBFC would help Bhel to better utilise its cash surplus, especially in terms of financing infrastructure projects.
Bhel's operations are organised under three business verticals -- power, industry and overseas business. The industry segment includes transmission, transportation and renewable energy.
It has installed equipment with a total generation capacity of over 1,00,000 MW for utilities and captive and industrial users, according to the company website.
Asked whether this financing arm would compete with the likes of Power Finance Corp and Rural Electrification Corp, Rao said, "No. They (PFC, REC) have a big magnitude... our NBFC would be small."
Bhel, which has an orderbook position of Rs 1.64 lakh crore, is present in over 70 countries, spanning six continents, and has set a target of generating Rs 45,000 crore of revenue by the end of the current XI Five-Year Plan (2007-12).
NBFC operations would help Bhel in facilitating financial closure for power projects without much delay and in return, would get orders for equipment.
ref:
http://www.hindustantimes.com/Bhel-s-NBFC-plan-delayed-board-seeks-changes-CMD/Article1-716778.aspx
"Certain working changes were sought by the board," he said, but did not specify what changes the board has asked for.
Bhel, which is sitting on a cash surplus of Rs 9,000 crore, plans to foray into NBFC space to fund power projects. Creation of the NBFC would help Bhel to better utilise its cash surplus, especially in terms of financing infrastructure projects.
Bhel's operations are organised under three business verticals -- power, industry and overseas business. The industry segment includes transmission, transportation and renewable energy.
It has installed equipment with a total generation capacity of over 1,00,000 MW for utilities and captive and industrial users, according to the company website.
Asked whether this financing arm would compete with the likes of Power Finance Corp and Rural Electrification Corp, Rao said, "No. They (PFC, REC) have a big magnitude... our NBFC would be small."
Bhel, which has an orderbook position of Rs 1.64 lakh crore, is present in over 70 countries, spanning six continents, and has set a target of generating Rs 45,000 crore of revenue by the end of the current XI Five-Year Plan (2007-12).
NBFC operations would help Bhel in facilitating financial closure for power projects without much delay and in return, would get orders for equipment.
ref:
http://www.hindustantimes.com/Bhel-s-NBFC-plan-delayed-board-seeks-changes-CMD/Article1-716778.aspx
Friday, July 1, 2011
Modular Workstations inaugurated at BHEL Tiruchi
State-of-the-art modular workstations for employees of Public Relations, Human Resource and Administration departments were today inaugurated at BHEL, Tiruchirappalli. A.V. Krishnan, Executive Director, Bharat Heavy Electricals Limited, Tiruchirappalli inaugurated the workstations. Since 2009, BHEL has converted around 6000 square metres of office space into modular workstations at an outlay of Rs 11 crore, officials said. Around 750 employees are accommodated in these ergonomically designed workstations and air-conditioned offices.The ambience is made with a view to improving the productivity of the employees. BHEL is also undertaking to convert another 9000 square metres into such workstations to accommodate another 1000 employees.
ref:
http://ibnlive.in.com/generalnewsfeed/news/modular-workstations-inaugurated-at-bhel-tiruchi/744983.html
ref:
http://ibnlive.in.com/generalnewsfeed/news/modular-workstations-inaugurated-at-bhel-tiruchi/744983.html
Subscribe to:
Posts (Atom)
