ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Producer Manufacturing

Bharat Heavy Electricals Ltd.

Company Background

Bharat Heavy Electricals is a state-owned integrated power plant equipment manufacturer and one of the largest engineering and manufacturing company in India. Through six joint ventures, the company enjoys the leadership position in the Indian power sector with over 70% market share. The Indian government holds around 64% of the stake.

Since October 2009, B.P. Rao has led the company as chairman and managing director. Starting his career in 1978, he now has experience in strategic and operational areas in all major segments of BHEL. He spearheaded efforts for its entry into defense simulators and telecom products, apart from being instrumental in setting up its Electronics Systems Division. He was due to retire on Dec. 31, 2013, but his term was extended for two years.

The company was set up in 1964 as part of then Prime Minister Jawaharlal Nehru's vision to make the country self-reliant in manufacturing of heavy electrical equipment. Under the jurisdiction of the Ministry of Heavy Industries and Public Enterprises, Bharat Heavy has been making profits continuously since 1971-72 and paying dividends since 1976-77. It has operations in 76 countries, including Malaysia, Oman, Libya, Iraq, the United Arab Emurates, Bhutan, Egypt and New Zealand. Its operations are organized around the power sector; industries including power transmission, transportation, telecommunications and renewable energy; and overseas businesses.

Business Summary

Bharat Heavy Electricals Ltd. is a holding company, which engages in construction of power plants and manufacturing of steam generators, turbine and electric motors. It operates through the following segments: Power and Industry segments. The Power segment comprises thermal, gas, hydro and nuclear power plant businesses apart from new businesses of emission control equipment and spares for Non-BHEL sets. The Industry segment caters to major equipment supplies for a number of industries including transportation, transmission, defence & aerospace, Renewables, downstream oil & gas, Energy storage and electric mobility. The company was founded on November 13, 1964 and is headquartered in New Delhi, India.

Financial Highlights

Mar 2022 INRUSD
Revenue208,441.30M2,797.50M
Gross Profit-4,954.40M-66.49M
Operating income707M9.48M
Income before tax4,200.40M56.37M
Net income4,460.30M59.86M
EBITDA3,848.20M51.64M
Diluted EPS1.280.01
Dividends Per Share0.400.00
Total Assets562,437.60M7,422.46M
Total liabilities297,179.40M3,921.86M
Total equity265,066M3,498.06M
Operating cash flow7,652.30M102.70M
Currency in INRCurrency in USD

Historical Data

 Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Revenue 287,794.90M 302,156.10M 211,194.60M 167,765M 208,441.30M
Gross Profit 42,304.80M 48,375.80M 2,739.30M -15,888.40M -4,954.40M
Operating income 5,863.10M 14,763.40M -13,860.30M -40,948.40M 707M
Income before tax 16,056.30M 20,253.40M -6,847.90M -36,400.70M 4,200.40M
Net income 4,411.60M 10,051M -14,660.10M -26,971.10M 4,460.30M
EBITDA 13,736.40M 19,520.80M -8,827.60M -36,215.90M 3,848.20M
Diluted EPS 1.20 2.76 -4.21 -7.74 1.28
Dividends Per Share 1.82 2 0 0 0.40
Total Assets 634,845.10M 639,343.10M 597,485.60M 552,402.10M 562,437.60M
Total liabilities 311,269.70M 329,987.50M 310,654.20M 292,431.70M 297,179.40M
Total equity 323,349.90M 309,043.40M 286,607.20M 259,836.60M 265,066M
Operating cash flow 16,564M -33,317.40M -26,309.10M 7,039.20M 7,652.30M
 Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Revenue 4,464.28M 4,320.05M 2,978.51M 2,259.91M 2,797.50M
Gross Profit 656.23M 691.64M 38.63M -214.02M -66.49M
Operating income 90.94M 211.07M -195.47M -551.60M 9.48M
Income before tax 249.06M 289.57M -96.57M -490.34M 56.37M
Net income 68.43M 143.70M -206.75M -363.32M 59.86M
EBITDA 213.07M 279.09M -124.49M -487.85M 51.64M
Diluted EPS 0.01 0.03 -0.05 -0.10 0.01
Dividends Per Share 0.02 0.02 0 0 0.00
Total Assets 9,733.64M 9,229.05M 7,897.89M 7,555.37M 7,422.46M
Total liabilities 4,772.48M 4,763.44M 4,106.39M 3,999.68M 3,921.86M
Total equity 4,957.70M 4,461.10M 3,788.53M 3,553.86M 3,498.06M
Operating cash flow 256.94M -476.35M -371.04M 94.82M 102.70M

Valuation Measures

Mar 2022
PER38.52
ROA0.80%
ROE1.69%
Operating margin0.33%
Profit margin2.13%

Key executives

  • Chairman & Managing Director: Nalin Shinghal
  • Finance Director & Director: Subodh Gupta
  • Director-Engineering, Research & Development: Jai Prakash Srivastava
  • Secretary & Compliance Officer: Rajeev Kalra
  • Director, Director-Industrial Systems & Products: Renuka Gera

Shareholders

  • Government of India (63.1%)
  • Life Insurance Corporation of India (Investment Portfolio) (10.0%)
  • The Vanguard Group, Inc. (1.0%)
  • Massachusetts Financial Services Co. (0.4%)
  • Dimensional Fund Advisors LP (0.4%)
  • Kotak Mahindra Asset Management Co. Ltd. (0.3%)
  • Nippon Life India Asset Management Ltd. (Invt Mgmt) (0.3%)
  • Aditya Birla Sun Life Insurance Co. Ltd. (0.3%)
  • Tata Asset Management Ltd. (0.3%)
  • BlackRock Fund Advisors (0.2%)

Contact Details

  • Website:http://www.bhel.com
  • Address: BHEL House, Siri Fort, New Delhi, 110049, India
  • Phone: +91.11.66337000

Related Companies

  • Bhel Employees Provident Fund-Hyderabad
  • BHEL (BAP Unit) EPF Trust
  • BHEL Employees Provident Fund Trust Jhansi
  • Bharat Heavy Electricals Ltd. Power Projects Division Emplo
  • BHEL Electrical Machines Ltd.
  • Bharat Heavy Plates & Vessels Ltd.

Competitors

    Last Updated on 4 Oct, 2022

    Discover the all new Nikkei Asia app

    • Take your reading anywhere with offline reading functions
    • Never miss a story with breaking news alerts
    • Customize your reading experience

    Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

    Celebrate our next chapter
    Free access for everyone - Sep. 30

    Find out more