BHEL Q3 Review - Revenue Disappoints Once Again, Operating Losses Continue: Motilal Oswal
BHEL Logo Displayed on a Locomotive Engine in Mumbai. (Photographer: Abhijit Bhatlekar/Bloomberg)

BHEL Q3 Review - Revenue Disappoints Once Again, Operating Losses Continue: Motilal Oswal

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Bharat Heavy Electricals Ltd.’s Q3 FY21 earnings were disappointing as revenue came in 21% below our estimate.

Higher fixed cost dented operating performance, with operating level loss attributable to under-absorption of costs.

The company is yet to show any significant improvement in pending receivables, with total debtors at Rs 348 billion in nine months FY21 (versus approximately Rs 365 billion at the end of FY20 and Rs 349 billion in H1 FY21).

In spite of the management’s ongoing efforts, we expect receivables to remain elevated in the near future.

Click on the attachment to read the full report:

Motilal Oswal BHEL Q3FY21 Result Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.