 "Bhel wins thermal projects worth Rs 11,000 crore from Adani Power")
Bharat Heavy Electricals Ltd (Bhel), India’s largest power generation equipment manufacturer, has secured three major contracts worth Rs 11,000 crore from Adani Power Ltd and its subsidiary Mahan Energen Ltd.
The state-run public sector undertaking (PSU) announced on Monday that it has secured contracts to supply equipment—including boilers, turbines, and generators—and to oversee the erection and commissioning of three supercritical thermal power plant projects in Kawai, Rajasthan, and Mahan, Madhya Pradesh. Each project will have a capacity of 2×800 MW.
In a regulatory filing, the company informed, “Contract Agreement signed on 25th August 2024 for Supply of equipment (Boiler, Turbine, Generator) and Supervision of Erection & Commissioning for Three (3) power projects each of 2×800 MW based on Supercritical Technology at Kawai (Phase-II), Rajasthan & Kawai (Phase-III), Rajasthan of (APL) and at Mahan (Phase-III), Madhya Pradesh of MEL.”
BHEL will complete the Kawai Phase-II project in 49 months, the Kawai Phase-III project in 52 months, and the Mahan Phase-III project in 55 months.
BHEL shares increased by 0.37 per cent, closing at Rs 297.30. The company announced the deal on the BSE website at 9:40 am on Monday.
In contrast, shares of Adani Power Ltd declined by 1.94 per cent, closing at Rs 662.70.
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For the June quarter, BHEL reported a 9.6 per cent year-on-year growth in its revenue to Rs 5,484 crore, while its gross margin improved by 21 basis points to 29.3 per cent.
BHEL, which was removed from the Nifty 50 index in 2017, will be included in the Nifty Next 50 index starting September 30.
BHEL caters to key sectors such as power, transmission, industry, transportation, renewable energy, oil and gas, and defence. As the premier engineering and manufacturing enterprise in the country, BHEL is owned and operated by the Government of India.
The market capitalisation of the company is Rs 1,03,417.28 crore, according to the Bombay Stock Exchange (BSE). The company falls under the BSE 200 category.
The 52-week high of BHEL stock is Rs 303.90 per share, while its 52-week low is Rs 294.80 apiece.