BHEL is India’s largest engineering & manufacturing enterprise and the second largest employer in the Indian capital goods industry, the largest contributor to the country’s total installed conventional generation capacity with a 53% share.
BHEL has 16 manufacturing units and 8 services centers across India. The company has a total order book of 1,02,000 crore rupees, 193 GW power generating capacity installed in India and abroad, and more than 700 crore rupees invested in R & D and innovation, the company filed 526 patents & copyrights filed, and the company has a total of 5,052 intellectual capital. BHEL has its presence in over 86 countries.
BHEL secured orders worth Rs 13,472 crores despite the sluggishness in ordering by customers on account of COVID-related uncertainties. BHEL has booked its highest every order in the hydropower segment and was also successful in retaining its leadership in the engineering and manufacturing of equipment for nuclear power and emission control business.
BHEL has also won its first order for sulphur recovery unit (523 TPD) from IOCL Paradip, and its successful completion will establish BHEL as an LSTK player for process packages in upcoming opportunities in the downstream oil & gas sector.
The company recorded a turnover of Rs 16,296 crores with a net loss of Rs 2,717 crores in FY21. The loss includes additional merit-based provisioning of about Rs 1,800 crores. Made after a detailed review of receivables, on an exceptional basis, which was taken up by the company as a measure of utmost financial prudence, so as to strengthen the receivables management process and improve the quality of assets on the balance sheet. Further, the loss has been exacerbated due to non-productive expenses during the Covid period. Looking at the BHEL ordering book, it is very strong, the loss declared in the financial is due to uncertain situations created by Covid. BHEL share price target for 2022 is Rs 72.
BHEL is cognizant of the ongoing energy transition and subdued economic growth in its current areas of operations. Accordingly, definitive steps are being taken both for maintaining growth in the existing portfolios as well as targeting opportunities in the new, non-coal-based businesses. As a result, the company retained its dominant position in the nuclear, hydro, and thermal emission control businesses, booking the highest-ever orders of more than I3,000 Cr.
in the hydro sector, maintaining market leadership as the sole Indian supplier of nuclear steam turbines in the nuclear sector as well as retaining the highest market share in the FGD and SCR segment. The company’s efforts towards increasing the contribution of non-coal business are also bearing fruit with the receipt of the first order in the downstream oil and gas segment. Further, concerted efforts are also being made for developing a range of new products, systems, and solutions for railways, urban mobility, defense, and aerospace, among others.BHEL is constantly trying to introduce new products and to increase its product portfolio into different segments and businesses, considering all the above factors, BHEL share price target for 2023 is Rs 86.
In the long term, the company is targeting to regain its technology lead by investing in technologies of the future including various elements of the Hydrogen economy (generation, storage, utilization), for which a separate business vertical has been created.
This business group is tasked with the objective of identifying opportunities for BHEL, in the Hydrogen economy, and taking up technology, manufacturing as well as business development efforts for the same, on a fast-track basis. We believe that going forward, Additive Manufacturing is going to disrupt all areas of manufacturing for which another team has been set up to identify early opportunities in this area.
Other areas where dedicated teams have been deployed are Industry 4.0 solutions for process industries (remote monitoring & diagnostics, spares & services business, IIoT for internal operations), Coal to Methanol, Upstream Solar Value Chain, and Battery Energy Systems.
BHEL is a leading capital goods manufacturing PSU, with a proven track record of more than five decades, and vast asset base in the form of 16 technology-intensive manufacturing establishments, and a 32,000 strong pool of skilled and committed manpower, which includes over 9,000 engineers. The company has unparalleled experience in the power equipment segment, where it has an installed base of 193,000 MW+ in India and abroad.
Leveraging on its strong technical expertise, BHEL is also playing an active role in the engineering and supply of critical equipment for the strategic sectors of Nuclear, Defence, Space, and Transportation. The company has in place a pan India sales and service network to support its customers. With a resolute focus on engineering excellence, BHEL has demonstrated its leadership by way of integration and development of advanced technologies, building system design capabilities, and by being one of the consistently highest spenders on R&D in the engineering sector in India.
When required, it has partnered with global technology providers and has a long history of successful partnerships and assimilation and indigenization of advanced technologies. With nearly 150 project sites spread across the country as well as the world, BHEL also has rich experience in project execution including EPC projects.
The above capabilities place BHEL in a unique position to capitalize on opportunities in the infrastructure sector as well as in the new emerging technology arenas. By considering all the above factors, BHEL share price target for 2024 is Rs 98.
BHEL is one of the few companies in the world having the capability to manufacture the entire range of power plant equipment, with proven capabilities for executing thermal, gas, hydro, and nuclear power projects. Offerings include:
After considering all the above factors, BHEL share price target for 2025 is Rs 116.
BHEL is also a name to reckon with in various sectors of the industry. This is evident from the supply of more than half of the traction equipment in locomotives & EMUs of Indian Railways; commissioning of 200+ electric substations and 5 major HVDC projects in the country; being the largest manufacturer and supplier of power transformers and electrical AC machines in the country, and 1.2GW+ solar portfolio spread across the country including ground-mounted, rooftop, canal top and floating PV plants, among others.
BHEL plays a crucial role in the strategic sectors of the nation, being the sole Indian supplier for many technology-intensive products and systems. BHEL is the only manufacturer of nuclear steam turbines in the country; the only company associated with all three stages of India’s Nuclear Power program; a major supplier of critical equipment and services in the defense & aerospace sector for over three decades; and a trusted supplier of naval guns to Indian navy for their warships.
BHEL has a wide footprint in all the inhabited continents of the world with references in 86 countries including the neighboring countries of Bangladesh, Afghanistan, Bhutan, Nepal, Indonesia, Oman, Iraq, Sudan, Afghanistan, United States, and New Zealand. To date, around 11 GW of power generating capacity has been installed in overseas markets. An additional 6 GW is under execution, including the 2×660 MW Maitree Super thermal power project in Bangladesh and the 4×225 MW Arun-3 Hydroelectric project in Nepal. BHEL share price target for 2030 is Rs 324.
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