Bharat Heavy Electricals Ltd (BHEL) reported a 30.9% jump in its net profit at Rs 1,403 crore for the quarter ended December 31, 2010, against Rs 1,072 crore in the year-ago period.
Total sales (income from operations) rose by 26% to Rs 9,280 crore from Rs 7,386 crore.
Excerpts from Bazaar on CNBC-TV18 Watch the full show »
Speaking to CNBC-TV18’s Udayan Mukherjee and Mitali Mukherjee, chairman BP Rao said the company is on track to achieve its full year order book target of Rs 60,000 crore. “We expect execution pace to continue in FY12,” he informed adding, “Will maintain margins on better operational efficiencies.”
The company’s capacity will be scaled up to 20,000 megawatt by fourth quarter of fiscal year 2012, he divulged. “There is no delay in projects on account of inflation.”
more of the interview at:
http://indiaearnings.moneycontrol.com/sub_india/compnews.php?autono=517136
Monday, January 31, 2011
Saturday, January 29, 2011
Comptroller and Auditor General (CAG) advises NTPC to look for alternative to BHEL
National Thermal Power Corporation is scouting for new suppliers to speed up pending power projects, a move that may deprive equipment-supplier Bharat Heavy Electricals of a big chunk of contracts in the future.
NTPC counts heavily on BHEL for its projects but supplies have been delayed at times. The Comptroller and Auditor General (CAG) of India has advised NTPC to look for alternative suppliers as BHEL had delayed supplies for projects such as Sipat Stage 2, Farakka, Bhilai and Jhajjar.
"Earlier, we did not have much options. Now, with the opening up of the market, new manufacturers are coming in. These manufacturers have participated in the open bulk tender for the upcoming 9 units of 660MW. NTPC has invited bids from other companies as well for some of its newer projects," an NTPC official said.
BHEL said that delays were sometimes caused by factors beyond its control. "Certain projects like Barh stage 1 and Sipat stage 1 are behind schedule by up to 30-48 months because of delay in the execution of the main plant packages. The Main Plant packages of these projects are ordered on foreign suppliers," a spokesperson for BHEL said.
ref:
http://economictimes.indiatimes.com/news/news-by-industry/energy/power/ntpc-looks-for-suppliers-to-power-pending-projects/articleshow/7382671.cms
NTPC counts heavily on BHEL for its projects but supplies have been delayed at times. The Comptroller and Auditor General (CAG) of India has advised NTPC to look for alternative suppliers as BHEL had delayed supplies for projects such as Sipat Stage 2, Farakka, Bhilai and Jhajjar.
"Earlier, we did not have much options. Now, with the opening up of the market, new manufacturers are coming in. These manufacturers have participated in the open bulk tender for the upcoming 9 units of 660MW. NTPC has invited bids from other companies as well for some of its newer projects," an NTPC official said.
BHEL said that delays were sometimes caused by factors beyond its control. "Certain projects like Barh stage 1 and Sipat stage 1 are behind schedule by up to 30-48 months because of delay in the execution of the main plant packages. The Main Plant packages of these projects are ordered on foreign suppliers," a spokesperson for BHEL said.
ref:
http://economictimes.indiatimes.com/news/news-by-industry/energy/power/ntpc-looks-for-suppliers-to-power-pending-projects/articleshow/7382671.cms
Wednesday, January 26, 2011
BHEL-BEL may set up Rs 2K-cr unit at Fab City
Two Navaratna PSUs Bharat Heavy Electricals Limited (BHEL) and Bharat Electronics Limited (BEL) have formed a joint venture to manufacture solar wafers, cells and modules to meet domestic as well as export demands. The unit is likely to come up on 70 acres at Fab City, which never really took off.
The project envisages setting up of a manufacturing facility with a capital investment of Rs 2,000 crore and will provide direct employment to 1,000 people. A high-level team of officials recently visited the city to identify possible location for the plant.
Sources said the team identified about 70 acres in Fab City as the ideal location. It was said to have expressed satisfaction over the land as it is located in an SEZ meant for similar industries and also because of its close proximity to the international airport. Another positive point is, the official say, BHEL has a major unit in the city.
more at :
http://timesofindia.indiatimes.com/city/hyderabad/BHEL-BEL-may-set-up-Rs-2K-cr-unit-at-Fab-City/articleshow/7349602.cms
The project envisages setting up of a manufacturing facility with a capital investment of Rs 2,000 crore and will provide direct employment to 1,000 people. A high-level team of officials recently visited the city to identify possible location for the plant.
Sources said the team identified about 70 acres in Fab City as the ideal location. It was said to have expressed satisfaction over the land as it is located in an SEZ meant for similar industries and also because of its close proximity to the international airport. Another positive point is, the official say, BHEL has a major unit in the city.
more at :
http://timesofindia.indiatimes.com/city/hyderabad/BHEL-BEL-may-set-up-Rs-2K-cr-unit-at-Fab-City/articleshow/7349602.cms
Friday, January 21, 2011
Strong Q3 results power Bhel
Bharat Heavy Electricals gained 2.01% to Rs. 2223.05 at 12:37 IST on BSE, after net profit surged 30.83% to Rs. 1403.23 crore on 24.63% rise in net sales to Rs. 8849.27 crore in Q3 December 2010 over Q3 December 2009.
The company declared its results during trading hours today, 21 January 2011.
Meanwhile, the BSE Sensex was down 35.92 points, or 0.19%, to 19,010.62.
On BSE, 1.12 lakh shares were traded in the counter compared with the average daily volume of 64,885 shares in the past one quarter.
The stock hit a high of Rs. 2262 and a low of Rs. 2180 so far during the day. The stock had hit a 52-week high of Rs. 2695 on 7 October 2010 and a 52-week low of Rs. 2060 on 26 November 2010.
The large-cap stock had underperformed the market over the past one month till 20 January 2011, declining 5.83% compared with the Sensex's 4.24% fall. It had also underperformed the market in past one quarter, falling 12.80% as against Sensex's decline of 4.15%.
The company has an equity capital of Rs. 489.52 crore. Face value per share is Rs. 10.
Bharat Heavy Electricals (Bhel) said a change in accounting norm relating to revenue recognition has resulted in an increase in turnover by Rs. 444 crore, with a corresponding impact on profit.
Bharat Heavy Electricals (Bhel)'s order book position stood at Rs. 158000 crore as at the end of Q3 December 2010, which is 4.81 times its net sales of Rs. 32880.30 crore for the year ended March 2010, giving strong revenue visibility.
ref:
http://www.indiainfoline.com/Markets/News/Strong-Q3-results-power-Bhel/3497036928
The company declared its results during trading hours today, 21 January 2011.
Meanwhile, the BSE Sensex was down 35.92 points, or 0.19%, to 19,010.62.
On BSE, 1.12 lakh shares were traded in the counter compared with the average daily volume of 64,885 shares in the past one quarter.
The stock hit a high of Rs. 2262 and a low of Rs. 2180 so far during the day. The stock had hit a 52-week high of Rs. 2695 on 7 October 2010 and a 52-week low of Rs. 2060 on 26 November 2010.
The large-cap stock had underperformed the market over the past one month till 20 January 2011, declining 5.83% compared with the Sensex's 4.24% fall. It had also underperformed the market in past one quarter, falling 12.80% as against Sensex's decline of 4.15%.
The company has an equity capital of Rs. 489.52 crore. Face value per share is Rs. 10.
Bharat Heavy Electricals (Bhel) said a change in accounting norm relating to revenue recognition has resulted in an increase in turnover by Rs. 444 crore, with a corresponding impact on profit.
Bharat Heavy Electricals (Bhel)'s order book position stood at Rs. 158000 crore as at the end of Q3 December 2010, which is 4.81 times its net sales of Rs. 32880.30 crore for the year ended March 2010, giving strong revenue visibility.
ref:
http://www.indiainfoline.com/Markets/News/Strong-Q3-results-power-Bhel/3497036928
Wednesday, January 19, 2011
India aims for Asia's biggest tidal power plant
The western Indian state of Gujarat is aiming to host the first commercial-scale tidal power project in Asia after signing a deal with a British marine energy company, officials said Wednesday.
State Energy Minister Saurabh Patel told AFP that two or three locations had been identified in the Gulf of Kutch where turbines from London-based Atlantis Resources Corporation could be set up.
A preliminary agreement was signed last week between the government and Atlantis which foresees the start of construction later this year, with initial capacity of 50 megawatts (MW) and long-term capacity of up to 250 MW.
Patel said environmental and commercial factors would be taken into consideration, as well as highly sensitive territorial claims in the area where the sea is divided between India and Pakistan.
"We have to take into consideration that the local fishermen are not affected, that there is no harm to the environment and that traffic at the ports in the Gulf region is not affected," he said.
The company said the project would "require hundreds of millions of dollars of investment in tidal turbines," adding that its studies of the waters around Gujarat showed that tides there were strong enough to generate 300MW of power.
Highly industrialised Gujarat, one of the best performing states in the country economically, has installed electricity capacity of more than 11,000 MW at present, meaning tidal power would meet only a fraction of total demand.
D.J. Pandian, chairman of the state-run Gujarat Power Corporation, said in a statement released after the deal was signed that the project "will be India?s and indeed Asia?s first at commercial scale."
To become the first in Asia, the project will need to be completed before South Korea's 254 MW Sihwa Lake tidal power project.
ref:
http://www.google.com/hostednews/afp/article/ALeqM5jQLut1-gk-Addh4ju4rMjzuipSKw?docId=CNG.c3a333665f6dad754512adfdf748f478.411
State Energy Minister Saurabh Patel told AFP that two or three locations had been identified in the Gulf of Kutch where turbines from London-based Atlantis Resources Corporation could be set up.
A preliminary agreement was signed last week between the government and Atlantis which foresees the start of construction later this year, with initial capacity of 50 megawatts (MW) and long-term capacity of up to 250 MW.
Patel said environmental and commercial factors would be taken into consideration, as well as highly sensitive territorial claims in the area where the sea is divided between India and Pakistan.
"We have to take into consideration that the local fishermen are not affected, that there is no harm to the environment and that traffic at the ports in the Gulf region is not affected," he said.
The company said the project would "require hundreds of millions of dollars of investment in tidal turbines," adding that its studies of the waters around Gujarat showed that tides there were strong enough to generate 300MW of power.
Highly industrialised Gujarat, one of the best performing states in the country economically, has installed electricity capacity of more than 11,000 MW at present, meaning tidal power would meet only a fraction of total demand.
D.J. Pandian, chairman of the state-run Gujarat Power Corporation, said in a statement released after the deal was signed that the project "will be India?s and indeed Asia?s first at commercial scale."
To become the first in Asia, the project will need to be completed before South Korea's 254 MW Sihwa Lake tidal power project.
ref:
http://www.google.com/hostednews/afp/article/ALeqM5jQLut1-gk-Addh4ju4rMjzuipSKw?docId=CNG.c3a333665f6dad754512adfdf748f478.411
Thursday, January 13, 2011
Bina refinery to go commercial in mid-Feb
Bharat Oman Refineries (BORL), a joint venture of state-owned Bharat Petroleum Corporation (BPCL) and Oman Oil Co, will start commercial production from its newly built Bina refinery in Madhya Pradesh by mid-February.
The 6-million tonnes a year unit will "start producing fuel by February 15", a company official said. "We are trying to get Prime Minister Manmohan Singh to inaugurate the refinery."
:
:
Although the 6-million tonnes per annum Bina Refinery was to be mechanically completed in December, 2009, it could not start processing crude oil as state-owned BHEL had not completed a 99-MW captive power plant on time.
BHEL was to set up a captive power plant at the refinery by May, 2009, but implemented the project a year late. Besides supplying power to the refinery, the 99-Mw unit was also meant to provide steam for conversion of crude oil into petroleum products.
read complete article at:
http://www.business-standard.com/india/news/bina-refinery-to-go-commercial-in-mid-feb/122153/on
The 6-million tonnes a year unit will "start producing fuel by February 15", a company official said. "We are trying to get Prime Minister Manmohan Singh to inaugurate the refinery."
:
:
Although the 6-million tonnes per annum Bina Refinery was to be mechanically completed in December, 2009, it could not start processing crude oil as state-owned BHEL had not completed a 99-MW captive power plant on time.
BHEL was to set up a captive power plant at the refinery by May, 2009, but implemented the project a year late. Besides supplying power to the refinery, the 99-Mw unit was also meant to provide steam for conversion of crude oil into petroleum products.
read complete article at:
http://www.business-standard.com/india/news/bina-refinery-to-go-commercial-in-mid-feb/122153/on
Wednesday, January 12, 2011
BHEL emerges as lowest bidder for RRVUNL power projects
BHEL is understood to have emerged as lowest bidder in two projects of Rajasthan Rajya Vidyut Utpadan Nigam Limited, worth Rs 12,200 crore for providing the engineering, procurement and construction (EPC) services for the projects.
"BHEL has outbid BGR Energy Systems and Russian company, Powermachines, for the EPC contracts for two super-critical thermal power projects of RRVUNL," a source said.
The source added that the two projects, being set up at Chhabra and Suratgarh in Rajasthan, are of 1,320 MW each and the RRVUNL had floated a tender through international competitive bidding (ICB) route.
However, the bidding amount quoted by the Navratna PSU could not be immediately ascertained.
When contacted, a company official said that despite stiff competition from the foreign companies, this is second time that BHEL has emerged successful in the tender floated through ICB route.
Recently, it had won the EPC contract for first 700 MW supercritical unit at Bellary Power Project in Karnataka from Karnataka Power Corporation Limited (KPCL).
more at:
http://www.business-standard.com/india/news/bhel-emerges-as-lowest-bidder-for-rrvunl-power-projects/121819/on
"BHEL has outbid BGR Energy Systems and Russian company, Powermachines, for the EPC contracts for two super-critical thermal power projects of RRVUNL," a source said.
The source added that the two projects, being set up at Chhabra and Suratgarh in Rajasthan, are of 1,320 MW each and the RRVUNL had floated a tender through international competitive bidding (ICB) route.
However, the bidding amount quoted by the Navratna PSU could not be immediately ascertained.
When contacted, a company official said that despite stiff competition from the foreign companies, this is second time that BHEL has emerged successful in the tender floated through ICB route.
Recently, it had won the EPC contract for first 700 MW supercritical unit at Bellary Power Project in Karnataka from Karnataka Power Corporation Limited (KPCL).
more at:
http://www.business-standard.com/india/news/bhel-emerges-as-lowest-bidder-for-rrvunl-power-projects/121819/on
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