BHEL Wins Rs 4,000-Cr Order from Mahan Energen for Supply of Equipment for Supercritical Power Project

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BHEL, India’s leading power equipment manufacturer, has bagged a lucrative order worth Rs 4,000 crore from Mahan Energen, a subsidiary of Adani Power. The order is for the supply of equipment and supervision of the erection & commissioning of a 2x800 MW power project in Madhya Pradesh. This is a significant achievement for BHEL, as it showcases its technological prowess and competitive edge in the power sector.

BHEL will supply the boiler, turbine, generator, and associated auxiliaries along with control and instrumentation for the supercritical power project at Bandhaura. The boiler and turbine generator will be manufactured at BHEL’s Trichy and Haridwar plants respectively. The project is expected to be completed by 2026.

The order from Mahan Energen is a testament to BHEL’s long-standing relationship with Adani Power, one of the largest private power producers in India. BHEL has previously executed several projects for Adani Power, including the 4x330 MW Mundra Thermal Power Project in Gujarat and the 5x660 MW Tiroda Thermal Power Project in Maharashtra.

BHEL is a state-owned enterprise that operates in the core sectors of the economy such as power, industry, transportation, renewable energy, oil & gas, and defense. It has a network of 17 manufacturing units, two repair units, four regional offices, eight service centers, eight overseas offices, and 15 regional centers. It also has a joint venture with General Electric (GE) for manufacturing advanced locomotives.

BHEL reported a consolidated net profit of Rs 343.89 crore in Q1 FY24, down by 82.9% from Rs 187.99 crore in Q1 FY23. However, its revenue from operations increased by 8.3% YoY to Rs 4,818.37 crore in the quarter ended 30 June 2023.

BHEL’s share price rose by 1.58% to Rs 99.55 on Monday, after the announcement of the order win. The stock has gained 23% in the past year, outperforming the Nifty PSU Index, which has risen by 18% in the same period.

BHEL is one of the most attractive stocks in the power sector, as it offers a diversified portfolio of products and services, a strong order book of Rs 1.06 lakh crore as of June 2023, and a favorable policy environment for renewable energy and emission control norms. The company is also focusing on cost reduction, operational efficiency, and new business opportunities to enhance its profitability and growth prospects.

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