BHEL Q1 Review - Loss At Operating Level Continues: Prabhudas Lilladher
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Prabhudas Lilladher Report
Bharat Heavy Electricals Ltd. reported subdued quarter led by poor execution owing to second wave of Covid-19, diversion of oxygen cylinders for medical usage and lower labour availability.
During Q1, withdrawal of provision worth Rs 1.8 billion resulted in Ebitda loss narrowing down to Rs 4.7 billion (versus Rs 11 billion in Q1 FY21 and Rs 12.6 billion in Q4 FY21).
BHEL's management indicated impact on ordering activity due to delay in order finalisation, resulting in order inflow of Rs 32.5 billion.
Order inflow was mainly driven by order wins in power (Rs 25 billion) and industry (Rs 6.9 billion).
Order book stands at Rs 1.02 trillion (power- 83%, industry-11%, exports-6%) as on Q1 FY21, providing revenue visibility going ahead.
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