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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. It engages in construction of power plants and manufacturing of steam generators, turbine and electric motors. The company operates through the Power, and Industry segments. Bharat Heavy Electricals was founded on November 13, 1964 and is headquartered in New Delhi, India.

Financial Highlights

Mar 2020 INRUSD
Revenue214,900.10M3,030.77M
Gross Profit18,647.80M262.99M
Operating income-7,406.40M-104.45M
Income before tax-6,847.90M-96.57M
Net income-14,660.10M-206.75M
EBITDA-2,373.70M-33.47M
Diluted EPS-4.22-0.05
Dividends Per Share----
Total Assets607,843.20M8,034.80M
Total liabilities321,326.70M4,247.47M
Total equity286,607.20M3,788.53M
Operating cash flow-26,578.40M-374.83M
Currency in INRCurrency in USD

Historical Data

 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 254,859.90M 283,446.10M 287,794.90M 301,418.80M 214,900.10M
Gross Profit 7,897.60M 33,908M 42,304.80M 40,388.30M 18,647.80M
Operating income -22,093.10M 5,310M 5,863.10M 14,863.40M -7,406.40M
Income before tax -11,769.70M 6,091.30M 16,056.30M 20,357M -6,847.90M
Net income -7,041.30M 4,572.60M 4,411.60M 10,118.40M -14,660.10M
EBITDA -12,726.10M 13,807.90M 13,736.40M 19,620.80M -2,373.70M
Diluted EPS -1.92 1.24 1.20 2.78 -4.22
Dividends Per Share 0.26 1.05 1.82 2 --
Total Assets 716,331.60M 648,951.60M 634,845.10M 639,192.70M 607,843.20M
Total liabilities 393,182.30M 325,026.90M 311,269.70M 330,156.60M 321,326.70M
Total equity 323,141.50M 323,889.90M 323,349.90M 308,723.80M 286,607.20M
Operating cash flow 11,772.10M 11,249.70M 16,564M -33,569.50M -26,578.40M
 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 3,892.72M 4,226.93M 4,464.28M 4,309.51M 3,030.77M
Gross Profit 120.62M 505.65M 656.23M 577.44M 262.99M
Operating income -337.44M 79.18M 90.94M 212.50M -104.45M
Income before tax -179.77M 90.83M 249.06M 291.05M -96.57M
Net income -107.54M 68.18M 68.43M 144.66M -206.75M
EBITDA -194.37M 205.91M 213.07M 280.52M -33.47M
Diluted EPS -0.02 0.01 0.01 0.03 -0.05
Dividends Per Share 0.00 0.01 0.02 0.02 --
Total Assets 10,817.04M 9,993.86M 9,733.64M 9,226.88M 8,034.80M
Total liabilities 5,937.29M 5,005.41M 4,772.48M 4,765.88M 4,247.47M
Total equity 4,879.63M 4,987.90M 4,957.70M 4,456.49M 3,788.53M
Operating cash flow 179.80M 167.76M 256.94M -479.95M -374.83M

Valuation Measures

Mar 2020
PER--
ROA-2.35%
ROE-4.92%
Operating margin-3.44%
Profit margin-6.82%

Key executives

  • Chairman & Managing Director: Nalin Shinghal
  • Director & Finance Director: Subodh Gupta
  • Director & Director-Research & Development: Kamalesh Das
  • Secretary & Compliance Officer: Rajeev Kalra
  • Director & Power Director: Manoj Kumar Varma

Shareholders

  • Government of India (63.1%)
  • Life Insurance Corp of India (10.0%)
  • SBI Funds Management Pvt Ltd. (3.5%)
  • PineBridge Investments Asia Ltd. (2.1%)
  • Invesco Asset Management Ltd. (1.2%)
  • ICICI Prudential Asset Management Co. Ltd. (1.1%)
  • The Vanguard Group, Inc. (0.7%)
  • HDFC Asset Management Co. Ltd. (Invt Mgmt) (0.7%)
  • Dimensional Fund Advisors LP (0.5%)
  • Massachusetts Financial Services Co. (0.4%)

Contact Details

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

Related Companies

  • BHEL Electrical Machines Ltd.
  • Bharat Heavy Plates & Vessels Ltd.

Competitors

  • OJSC Turboatom
Last Updated on 10 Aug, 2020

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