Kerala government allows BHEL to exit from joint venture with EML

The Kerala government on Monday allowed Bharat Heavy Electricals Limited (BHEL) to exit the joint venture (JV) with State-run Electrical Machines Ltd. at Kasaragod. A decision in this regard was taken at a high-level meeting chaired by Chief Minister Pinarayi Vijayan. BHEL-EML was incorporated in 2011, by acquiring the Kasaragod unit of KEL, a State PSU, as a joint venture with Government of Kerala. BHEL had 51% equity in the JV and the Kerala government holding 49%. However, BHEL was unwilling to invest any amount as per the agreement, and also wanted to exit the JV, a government release said. The company with 174 employees was running on loss. In these circumstances, the Chief Minister called a high-level meeting in which Industries Minister A C Moideen, Member of Parliament P Karunakaran, Chief Secretary Nalini Netto and BEHL-Electrical Machines Ltd Managing Director S Basu, among others participated. BHEL-Electrical Machines Ltd, Kasaragod, is a Central Public Sector Enterprise (CPSE) and a subsidiary of BHEL, a Maharatna company. ref: http://www.livemint.com/Companies/1O7RN00ZAouYzOsuHmCoxN/Kerala-government-allows-BHEL-to-exit-from-joint-venture-wit.html

BHEL to pay 79% dividend for fiscal 2016-17

Bharat Heavy Electricals Ltd has proposed an equity dividend of 79% for fiscal 2016-17. In fiscal, 2016-17 BHEL has achieved double-digit growth in its topline and bounced back into profit. During the year, BHEL recorded a turnover of Rs 28,840 crore up 11% over the previous year- after reversing the trend of negative topline growth prevailing for the last 3 years. The company has also returned to profitability with a Profit before tax of Rs 628 crore compared to a loss of Rs 1164 crore in the last fiscal. PAT stood at Rs 496 crore, against a net loss of Rs 710 crore in the previous year. The stock traded in a positive territory at Rs 140.65 per share on BSE at 12:22 IST on Monday’s trade attracting a total traded quantity of 2.72 lakh. ref: http://www.indiainfoline.com/article/news-top-story/bhel-dividend-bhel-to-pay-79-dividend-for-fiscal-2016-17-117060500069_1.html

BHEL Q4 net profit down 57% at Rs 215.55 crore

Bharat Heavy Electricals Ltd (BHEL)’s standalone net profit declined by 57% to Rs215.55 crore in the fourth quarter ended March, due to lower income and provisions for higher wages. The company had posted a standalone net profit of Rs505.71 crore in the corresponding quarter of previous fiscal, BHEL stated in a BSE filing on Monday. According to the statement, total standalone income decreased to Rs10,302.79 crore in the quarter under review from Rs10,870.49 crore year ago. The standalone net profit of the company was Rs495.86 crore in 2016-17 while it had reported a loss of Rs709.60 crore in 2015-16. The standalone total income rose to Rs30,201.39 crore in 2016-17 from Rs28,136.09 crore in the previous year. The company has made a provision of Rs961 crore for 2016-17 based on the estimates as per third pay revision committee recommendation in view of pending finalisation of agreement for wage/salary structure due from 1 January 2017. “During the year, BHEL recorded a turnover of Rs28,840 crore, up 11% over the previous year—after reversing the trend of negative topline growth prevailing for the last three years,” BHEL chairman and managing director Atul Sobti told PTI. ref: http://www.livemint.com/Companies/ZUgLQfefLHb5wLzxbYVf3M/BHEL-Q4-net-profit-down-57-at-Rs-21555-crore.html

BHEL commissions 270 MW thermal unit in Maharashtra

BHEL today said it has commissioned a 270 megawatt (MW) thermal unit at Sinnar in Nashik district of Maharashtra. The newly commissioned unit is part of RattanIndia Nasik Power Ltd’s 5x270 MW thermal power project. “This is the fourth unit to be commissioned at this project. Significantly, the milestone has been achieved within 35 days of commissioning of the third unit,” Bharat Heavy Electricals Limited (BHEL) said in a BSE filing. BHEL said so far it has successfully commissioned 14 sets of 270 MW rating in the country, including nine sets for the RattanIndia group. ref: http://www.thehindubusinessline.com/companies/bhel-commissions-270-mw-thermal-unit-in-maharashtra/article9712339.ece

BHEL commissions third unit of 1,980 MW Prayagraj plant in UP

BHEL today said it has commissioned the third unit of the 1,980 MW Prayagraj super thermal power project in Uttar Pradesh. With the commissioning of the third unit, BHEL has successfully executed the 1,980 MW coal-based supercritical thermal power project in Uttar Pradesh, the company said in a regulatory filing. “Located in Bara tehsil in Allahabad district of Uttar Pradesh, the project is owned by Prayagraj Power Generation Company Limited (PPGCL), a subsidiary company of Jaiprakash Power Ventures Ltd,” BHEL said. The first two units of the project (3x660 MW), commissioned earlier by BHEL, are already under commercial operation. ref: http://www.thehindubusinessline.com/companies/bhel-commissions-third-unit-of-1980-mw-prayagraj-plant-in-up/article9710551.ece

BHEL bags Rs 233 cr order from RFCL

BHELBSE 0.82 % today said it has won Rs 233 crore order for a steam and power generation package from Ramagundam Fertilizers and Chemicals Ltd (RFCL). "Valued at Rs 233 crore, the order has been placed on BHEL for setting up the package at RFCL's fertilizer plant at Ramagundam in Telangana," BHEL said in a press statement. The scope of the contract includes design, manufacture and commissioning of a 32.5 MW Gas Turbine, 125 TPH Heat Recovery Steam Generator, 85 TPH Utility Boiler and Balance of Plant (BoP) Package along with associated auxiliaries on Lumpsum Turnkey (LSTK) basis. The equipment for this package will be supplied by the BHEL's manufacturing units at Hyderabad, Vizag, Bhopal, Jhansi, Bengaluru, Trichy and Chennai. ref: http://economictimes.indiatimes.com/industry/indl-goods/svs/engineering/bhel-bags-rs-233-cr-order-from-rfcl/articleshow/58696865.cms

BHEL solar energy portfolio crosses 370 MW mark

BHEL today said its solar energy portfolio crossed the 370 MW mark in 2016-17. BHEL ended 2016-17 with a significant solar PV portfolio of 370 MW, comprising 360 MW ground-mounted power plants and 10 MW rooftop power plants, a company statement said. According to the statement, out of 370 MW, 170 MW of BHEL-supplied ground-mounted and 2,290 KW of rooftop power plants are already under operation at various locations. During the year, BHEL secured orders for 131 MW of ground-mounted and about 8 MW of rooftop solar PV plants. In addition, it secured its first order for 240 solar PV based pumping stations. BHEL is exploring deployment of single axis solar trackers and battery-based energy storage for solar power plants, it said. BHEL has prototyped floating solar power plant and solar PV based charging stations for charging electric vehicles. It has also enhanced its EPC capacity to address large sized PV plants, it added. BHEL is one of the very few organisations in the country that has the expertise in critical parts of the silicon value chain, viz., processing of silicon wafer to cell, processing of cell to PV module and in design, supply, installation, commissioning and O&M of ground-mounted and rooftop PV power plants and thus offers turnkey EPC solutions. ref: http://timesofindia.indiatimes.com/business/india-business/bhel-solar-energy-portfolio-crosses-370-mw-mark/articleshow/58532530.cms