BHEL wins EPC order worth ₹6,650 crore from NTPC for thermal power project in Odisha

Bharat Heavy Electricals Ltd. (BHEL) on Friday, November 7, said it has won an order worth ₹6,650 crore from NTPC Ltd.

The order is an engineering, procurement and construction (EPC) package of 1x800 MW Darlipali Supercritical Thermal Power Project Stage II in Odisha's Sundargarh district.

The EPC works include design, engineering, supply of equipment, commissioning, putting up the plant and civil works.

The contract is to be completed by 48 months.

Last week, BHEL reported its earnings for the second quarter. Its net profit of ₹368 crore was significantly above Street estimates of ₹221.2 crore and up from ₹96.7 crore it reported in the second quarter last year.

Its revenue increased 14.1% to ₹7,511 crore, slightly below the CNBC-TV18 poll of ₹7,939 crore.

BHEL's earnings before interest, tax, depreciation and amortisation (EBITDA) more than doubled to ₹580.8 crore from ₹275 crore in the September quarter last fiscal. It also exceeded Street estimates of ₹223 crore.

Its operating margin expanded to 7.7% in the second quarter from 4.2% last year and it beat Street expectations of 2.8% as well.

BHEL shares recovered from the lows of the day to gain 0.4% to ₹261.2 apiece on Friday. The stock has gained 11.9% this year, so far.

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