ADVERTISEMENT

ICICI Direct: BHEL - Execution Headwind Continues Amid Covid-19

Revenue fell 56.1% year-on-year to Rs 1,990.9 crore in Q1 FY21 due to execution headwinds caused by the Covid-19 crisis.

CNC Slot cutting machine at BHEL Ltd. facility in Haridwar (image Company website)
CNC Slot cutting machine at BHEL Ltd. facility in Haridwar (image Company website)

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

ICICI Direct Report

Bharat Heavy Electricals Ltd.’s Q1 FY21 revenues were at Rs 1990.9 crore with a significant decline of 56.1% YoY impacted by execution headwinds and Covid-19.

On the segmental front, power segment revenues fell 67.9% to Rs 1119.4 crore YoY whereas industrial segment revenue fell 15.4% to Rs 777.2 crore YoY.

The company posted Ebitda level loss of Rs 1058.9 crore (versus Ebitda level loss of Rs 266.7 crore in Q1 FY20) YoY owing to less revenue booking and higher than-expected operating expenses.

Net loss came in at Rs 897.2 crore (versus net loss of Rs 216.2 crore in Q1 FY20), partly aided by deferred tax adjustment.

Click on the attachment to read the full report:

ICICIC Direct Bhel Q1FY21 Result Update.pdf

DISCLAIMER

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 brokerage 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.