BHEL reported -21.64% fall in total revenues for the Dec-20 quarter on consolidated basis at Rs4,151.36cr. The power business, which is the principal industry that BHEL caters, saw weak demand with revenues falling 25% on a yoy basis. Post-COVID, the demand is yet to pick up. The other industrial demand was also lower but power made the big difference.
For the Dec-20 quarter, BHEL reported a net loss of Rs-217cr as against a profit of Rs162.76cr in the Dec-19 quarter. However, the losses have narrowed substantially on a sequential basis. The reason was that the lower capacity at which BHEL is operating led to inadequate absorption of fixed costs.
While the raw material costs did fall in proportion to the sales, the employee cost remained the same, which put significant pressure on the operating performance of the company. PAT margins may not be too relevant in this case as the company has dipped into a net loss in the latest quarter.
Financial highlights for Dec-20 compared yoy and sequentially
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|
BHEL Ltd |
|
|
|
|
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Rs in Crore |
Dec-20 |
Dec-19 |
YOY |
Sep-20 |
QOQ |
|
Total Income (Rs cr) |
₹ 4,451.36 |
₹ 5,680.82 |
-21.64% |
₹ 3,695.96 |
20.44% |
|
Net Profit (Rs cr) |
₹ -217.44 |
₹ 162.67 |
N.A. |
₹ -552.02 |
N.A. |
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Diluted EPS (Rs) |
₹ -0.63 |
₹ 0.46 |
|
₹ -1.59 |
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Net Margins |
-4.88% |
2.86% |
|
-14.94% |
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