BHEL struggles in next-gen market as slowdown continues in power sector

Once having a monopoly on the supply of equipment and services to thermal power units in India, Bharat Heavy Electricals (BHEL) is now struggling to find a market for itself. Tough times are likely to continue for BHEL, one of the country's largest engineering and manufacturing companies, in view of late diversification and slowdown in the power sector.
 
The state-run company earned Rs 34,600 crore in revenues in FY19, a meagre 16 per cent increase over FY16 when BHEL suffered its worst financial loss. In the first quarter of FY16, BHEL plunged into the red with a net loss