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BHEL don't expect cancellation of any order

BHEL has announced its second quarter numbers. Its Q2 net profit declined at Rs 615.77 crore versus Rs 687.66 crore, (YoY).

Its standalone net sales went up at Rs 5,342.63 crore from Rs 3,965.36 crore (YoY).

K Ravi Kumar, CMD of BHEL, said the company profits were down due to the one-time income during Q2 last year. Kumar said the company had booked about Rs 27,000 crore worth of orders, and the total outstanding order book stood at Rs 1.05 lakh currently, 85% of which came from the state and government.

Kumar also added that he doesn’t see any slowdown in or cancellation of orders. Operating margins will be recouped over next two quarters, he said.

While answering question raised by CNBC TV18 regarding order bookMr. Kumar said -

'As you know, we have booked record orders of Rs 27,000 crore during the first two quarters. We are likely to end up the year with similar orders like last year where he had added Rs 50,000 crore. Our orders estimate remains the same.

 

As of today we have an outstanding order book of Rs 1,05,000 crore. I don’t expect [any cancellations] because 85% of the orders are from the Central and state governments. We have examined all the orders thoroughly and [they] have been funded directly by state governments and the Central Government and also by PSC and REC. Rs 1, 05,000 crore is our outstanding order book and this year, we expect to close an order book of about Rs 40,000 crore. I don’t expect any slowdown in orders.'
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