Bharat Heavy Electricals Ltd., incorporated in the year 1964, is a Mid Cap company (having a market cap of Rs 23886.95 Crore) operating in Engineering sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 7245.16 Crore, up 59.85 % from last quarter Total Income of Rs 4532.39 Crore and up 39.50 % from last year same quarter Total Income of Rs 5193.51 Crore. Company has reported net profit after tax of Rs -1045.46 Crore in latest quarter.
Investment Rationale
The brokerage now estimates FY22E to be loss making and reduces FY23E EPS estimate by 36%. While orders are few and far between, the pricing environment remains highly competitive, limiting scope for margin expansion. On its ongoing diversification strategy, the company has won its first order for an SRU for IOCL Panipat and is restructuring its Solar business division. Any material financial impact is still a long time away.
Promoter/FII Holdings
Promoters held 63.2 per cent stake in the company as of March 31, 2021, while FIIs held 4.5 per cent, DIIs 12.5 per cent and public and others 19.9 per cent.
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