BHEL Q4 Results: Net Profit down 25% to ₹484.36 Crore YoY

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Synopsis:

In the fourth quarter of FY24, BHEL’s numbers have seen a considerable drop in net profits YoY, while its QoQ increase for the same has been quite significant. The Board of Directors has also recommended a final dividend of ₹0.25 per share.

5 Key Financial Highlights

With some very interesting numbers showing up for BHEL’s Q4FY24 results, here are some of the main highlights from the BHEL Q4 Results:

Additional read:Bhel Share Price

  • Q4 Revenue minimally up YoY by 0.4% from ₹8226.99 crore to ₹8260.25 crore
  • Q4 Net Profit YoY down by 25% from ₹645.13 Crore to ₹484.36 Crore 
  • Q4 Net Profit QoQ up from ₹46.31 Crore to ₹484.36 Crore 
  • Q4 Standalone Profit Before Tax down from ₹926.97 Crore to ₹631.06 Crores
  • FY24 Revenue up marginally from ₹23364.94 Crore to ₹23892.78 Crore

Key Business Updates:

  • The Board of Directors has recommended a final dividend of ₹0.25 per share (Face Value Rs. 2 per share).
  • BHEL bagged the Engineering, Procurement and Construction (EPC) order for setting up a 2400 MW Supercritical Thermal Power Project in Odisha
  • The company also won three SCOPE Awards in the categories of Research and Development, Technology Development & Innovation, and Digitalisation.
  • BHEL also bagged an order for Haryana’s first-ever 800 MW Ultra Supercritical Thermal Power Plant. The power plant is to be set up in Yamunanagar and will be established adjacent to the existing 2x300 MW units
  • The company bagged another order for a 2x800 MW Singrauli Supercritical Thermal Power plant in the International Competitive Bidding during this quarter. 

Additional Read:Quarterly Results

Profitability Analysis:

With the hits and misses as a part of its quarterly results for FY24, BHEL does still provide us with a few details that give us an insight into the company’s profitability. 

  • 1. BHEL signed an MoU with Greenstat Hydrogen India Pvt. Ltd. for Green Hydrogen and Derivatives and will help contribute towards India's 'National Hydrogen Mission'
  • 2. Even with a lot of competition at the International Competitive Bidding, BHEL won a huge order for the Electro-Mechanical (E&M) works. This order is for the country’s largest capacity hydropower project of 2,880 MW Dibang Multipurpose Project located in Arunachal Pradesh.
  • 3. A consortium led by BHEL with  Titagarh Rail Systems Ltd. (TRSL) in tow, signed a Manufacturing cum Maintenance Agreement with Indian Railways for 80 nos. Vande Bharat Sleeper Trains.

Additional Read:ONGC Q4 Results

Major Operational Metrics - Consolidated Q4 (FY2023-24) Financial Results of BHEL (in ₹ Crore)


Metrics

For Quarter Ended

For Year Ended

Q4FY24

Q3FY24

Q4FY23

FY24

FY23

Revenue from Operations

8260.25

5503.81

8226.99

23892.78

23364.94

Profit before tax 

636.32

84.49

939.86

242.66

715.61

Profit for the period

489.62

60.31

658.02

282.22

654.12

Major Operational Metrics - Standalone Q4 (FY2023-24) Financial Results of BHEL (in ₹ Crore)


Metrics

For Quarter Ended

For Year Ended

Q4FY24

Q3FY24

Q4FY23

FY24

FY23

Revenue from Operations

8260.25

5503.81

8226.99

23892.78

23364.94

Profit before tax 

631.06

70.49

926.97

220.33

685.77

Profit for the period

484.36

46.31

645.13

259.89

624.28

The Future of BHEL

It can be seen that the numbers coming to the foreground where BHEL’s financial results for both the quarter and the entirety of FY24 are concerned aren't particularly profitable. However, with the number of orders that the company has bagged this quarter itself, the growth potential is quite significant. BHEL has bagged the order for the construction of 3 power plants in this quarter in Haryana, Odisha and Singrauli. With that in mind, the company seems it could very well see a profitable FY25. 

Conclusion

The fourth quarter of FY24 saw some very interesting developments for BHEL. Even with the less-than-favourable financial results for the quarter, the company has fared fairly well in the entirety of FY24. It also has many ongoing projects that look promising and could potentially pace the way to a more profitable quarter in FY25. 

Additional Read:JSW Steel Q4 Results

About The Company:

BHEL or Bharat Heavy Electricals Limited (BHEL)  was established in 1956 with the help of Soviet technology. The company is an Indian central PSU or public sector undertaking. BHEL is also the Government of India’s largest owned power generation equipment manufacturer. Even though the company's ownership resides with the GoI, its administrative control lies with the Ministry of Heavy Industries. The company is headquartered in New Delhi. BHEL is known for activities like designing, manufacturing and engineering a wide range of products and services for power, transportation, oil & gas and various other crucial sectors of the country’s economy.

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Frequently Asked Questions

What was the revenue that BHEL was able to make in Q4?

Answer Field

BHEL’s Q4 Revenue rose minimally YoY by 0.4% from ₹8226.99 crore to ₹8260.25 crore while its FY24 Revenue also saw a marginal rise from ₹23364.94 Crore to ₹23892.78 Crore YoY

What are some of the main business updates for BHEL?

Answer Field

Though Q4FY24 has been a trying one for BHEL, the company has seen a few business updates that have helped it make its way to the next financial year. Here's a list of some of them:

  • The Board of Directors has recommended a final dividend of ₹0.25 per share (Face Value Rs. 2 per share).

  • BHEL bagged the Engineering, Procurement and Construction (EPC) order for setting up a 2400 MW Supercritical Thermal Power Project in Odisha

  • The company also won three SCOPE Awards in the categories of Research and Development, Technology Development & Innovation, and Digitalisation.

  • BHEL also bagged an order for Haryana’s first-ever 800 MW Ultra Supercritical Thermal Power Plant. The power plant is to be set up in Yamunanagar and will be established adjacent to the existing 2x300 MW units

  • The company bagged another order for a 2x800 MW Singrauli Supercritical Thermal Power plant in the International Competitive Bidding during this quarter.

What was the Q4 and the FY24 PAT for BHEL?

Answer Field

BHEL saw its Q4 Net Profit YoY down by 25% from ₹645.13 Crore to ₹484.36 Crore and its Net Profit QoQ up from ₹46.31 Crore to ₹484.36 Crore

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