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BHEL: Are the negatives fully priced in?

(Jul 16, 2013)

Equitymaster discusses whether all the negatives are fully priced into the current stock price of BHEL

Power Equipment: Sunny days ahead

(Sep 19, 2008)

It is a well-known fact that there is a high amount of power shortage in India. To counter the same, the government’s ambitious target of supplying power to all by 2012 was initiated. As such, the Planning Commission of India had estimated that nearly 80,000 megawatts (MW) of capacity addition should be targeted by the end of the eleventh plan (2007-2012) in order to narrow down the demand-supply gap.

BHEL: 'Power' packed performance!

(Apr 7, 2005)

In a recently held press conference, PSU engineering major, BHEL's management had released provisional numbers for the company's performance in FY05. As per the reported numbers, while sales have grown by around 21% YoY, net profits are up a strong 52%.

BHEL: Buoyancy continues

(Oct 29, 2004)

Engineering major, BHEL, has declared good results for 2QFY05. The company has posted a 12% YoY increase in topline while bottomline of the company has grown by 56%. The operating margins have improved marginally, while the net profit margin grew by over 2% owing to lower extraordinary expenses.

BHEL: 'Power'ful performance

(Apr 6, 2004)

On the back of increasing order intake from the power segment, accompanied by improving margins in the industrial segment, engineering major BHEL outperformed the Sensex significantly in the last one year. As can be seen from the graph below, Rs 100 invested in BHEL at the start of April last year would have appreciated to Rs 285 (185% return) currently, as compared to Rs 187 for the Sensex (87% return). Yesterday, the management of BHEL declared the provisional numbers for FY04. Let's have a lo

Engineering: What history says?

(Mar 24, 2004)

With Indian power sector expected to add another 40,000 MW in the 10th plan, improvement in the transmission and distribution (T&D) network backed by the APDRP scheme, both power generation as well as power distribution companies are likely in incur huge capital expenditure. In such a scenario, if one were to consider one of the biggest beneficiaries from such spending are engineering companies.

BHEL: How far is too far?

(Mar 9, 2004)

If one were to look at the performance of the stock markets over the last month, Rs 100 invested would have appreciated marginally to Rs 104 (4% gain). However, there are stocks have outperformed the benchmark index significantly during this period. We take a look at the engineering sector in general with specific mention to BHEL (Bharat Heavy Electricals Limited) and ABB, the market leaders. We also analyse the reason for this optimism and the future growth prospects

Engineering: Great year 2003

(Dec 29, 2003)

Empowered by the reforms in Indian power sector, infrastructure spending by government, higher industrial activity leading to 6.5% growth in IIP (index for industrial production) and huge order inflows, 2003 has been a great year for engineering companies. Returns given by major engineering stocks were much higher as compared to the BSE-Sensex. Due to healthy order inflow, the topline of the engineering majors saw double-digit growths. However, due to higher operational efficiencies, the bottoml

BHEL: Power potential

(Dec 24, 2003)

India’s largest engineering company, BHEL, has again registered a robust increase in the orderbook in the third quarter. Till date, the company has received orders worth more than Rs 45 bn in the period between October-December 2003.

BHEL: Industrial fillip…

(Oct 30, 2003)

Engineering major, BHEL has posted good results for 1HFY04. The company’s topline has increased by 20% where as the bottomline for the first half has grown significantly by 54%. The company’s operating margins have also improved marginally. However, despite a 466% higher tax adjustments, company has improved net profit margins by 70 basis points.

BHEL: What is expected?

(Oct 27, 2003)

BHEL’s stock price has witnessed an appreciation of 150% in last 10 months mainly due to increased orderbook and good growth prospects for the company. BHEL is about to announce its 3QFY04 results on 29th October 2003. In this context, consider what is expected in 2QFY04.

BHEL: Is it time to exit?

(Sep 10, 2003)

The stock price of engineering major, BHEL, has doubled in last 8 months and the so-called sleeping sector is back in limelight. It definitely raises a question in one’s mind - is the current price level sustainable or is it the right time to exit? To arrive at an answer it is first necessary to look at the reasons for the run up in the first place.

Identifying an engineering stock- Do's and don'ts

(Aug 16, 2003)

In Views on News, Equitymaster has tried to highlight here some factors one should keep in mind before investing in an Engineering company. Know more

Bhel: Strong topline trend

(Jul 29, 2003)

Engineering major, BHEL, has posted a 21% growth in the June quarter topline, as compared to the corresponding quarter last year. Though company recorded a net loss of Rs 111 m during the quarter, the performance seems much better as compared to Rs 489 m loss that it reported for the same quarter last year.

BHEL: Promising prospects

(Jul 4, 2003)

The stock price of BHEL has been consistently on the rise since last 8 months.

Bhel: Signs of healthy FY04

(May 2, 2003)

Engineering major, Bharat Heavy Electricals Limited's (Bhel) March quarter numbers show a 2% topline and 3% bottomline growth. The performance may look lacklustre, but the fourth quarter, as usual has contributed a bulk of the company's overall FY03 performance. Over 45% of Bhel's FY03 sales and nearly 73% of profits have been contributed by the 4QFY03 numbers. In effect, Bhel's March quarter magic continues.

Engineering: Looking at strong FY04

(Apr 7, 2003)

While most sectors finished FY03 on a glum note, Engineering companies had a whale of a time. Almost all engineering companies finished FY03 with gains in performance and consequently, in stock price.

Engineering: A review

(Dec 28, 2002)

While most of us would remember 2002 as a year that brought economic hardships for India Inc., one sector might view it as a dream year. The sector being referred to here is engineering. After being in doldrums in FY01, engineering companies kept their head down, restructured their operations, cut flab and emerged more competitive.

Bhel: A review

(Dec 17, 2002)

When we reported on Bharat Heavy Electricals Limited (Bhel) September quarter performance, the headline read 'Orderbook at Rs 135 bn'. The headline indicated the way we view Bhel's story. This company's performance cannot be judged on a quarter to quarter basis.

Bhel: Orderbook at Rs 135 bn

(Oct 29, 2002)

Engineering behemoth, Bharat Heavy Electricals Limited (Bhel) has posted an 11% YoY dip in 2QFY03 net sales. A dip in the operating margins and higher tax provisions for the quarter resulted in a 26% dip in bottomline. This performance is however better than its 1QFY03 performance where it declared a net loss of Rs 489 m. Also, on a half yearly basis, the picture looks very positive.


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