Bad time is over, says BHEL CMD

After a lull last year, Bharat Heavy Electricals Ltd. (BHEL), catering to 75-80 per cent of power sector business, is witnessing improvement in the demand scenario. Compared to the 2,800 MW order that the power major secured in 2011-12, orders for 3,000 MW, in the first quarter of 2012-13 alone, have been booked. Also, orders for 15,000 MW, placed by distribution companies in government sectors, were in the tendering stages. BHEL could maintain a growth rate of 18 per cent over the first quarter of the previous year and a bottom line of 13.5 per cent. The company, said its Chairman and Managing Director B. Prasada Rao, saw positive signs in restructuring losses and tariff revision by distribution companies, and in Coal India’s obligation to accelerate supplies in the wake of a penalty system introduced by the Centre. “We feel the bad time is over,” Mr. Rao told presspersons on Friday. more at: http://www.thehindu.com/business/companies/article3754688.ece