Bharat Heavy Electricals Ltd.
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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
Financial Highlights
| Mar 2020 | INR | USD |
| Revenue | 214,900.10M | 3,030.77M |
| Gross Profit | 18,647.80M | 262.99M |
| 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 Assets | 607,843.20M | 8,034.80M |
| Total liabilities | 321,326.70M | 4,247.47M |
| Total equity | 286,607.20M | 3,788.53M |
| Operating cash flow | -26,578.40M | -374.83M |
| Currency in INR | Currency in USD |
Historical Data
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 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 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 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
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Last Updated on 10 Aug, 2020