Bhel’s balance sheet revival is in sight

by Edelweiss : While we retain our thesis on BHEL that balance sheet revival is in sight, we believe the company is on course to see substantial cash flow over next 2-3 years. For us, key monitorable remains sequential reduction in debtors and closure of key orders, imparting the much-needed revenue visibility. Maintain buy/so with a DCF based target price of R185. more at: http://www.financialexpress.com/markets/indian-markets/bhels-balance-sheet-revival-is-in-sight/375268/