BHEL Q2 earnings seen lower

Bharat Heavy Electricals (BHEL) will be announcing its second quarter results for financial year 2013 on October 29. We have collated views of brokers on how they see earnings this time around: ICICIdirect: Given tepid order inflows over the past few quarters, we expect the topline to decline 4% YoY. Margins are expected to decline by 80 bps YoY to 17.6% in Q2FY13E. PAT is expected to decline by 14% YoY on the back of muted execution and a marginal decline in margins. Prabhudas Lilladher: With no major orders announced in this quarter, we expect order booking to remain subdued. Though NTPC bulk tenders for 660MW and 800MW have been evaluated, LOAs have not been awarded for all the projects due to issues relating to few clearances. The total order for BHEL from NTPC bulk tenders will be Rs 135 billion. PAT is expected to decline by 1.4% yoy to Rs 13.92 billion. more at: http://www.myiris.com/newsCentre/storyShow.php?fileR=20121029082235199&dir=2012/10/29