Bhel tumbles after dismal Q4 financial performance

Bharat Heavy Electricals lost 10.44% to Rs 137.30 at 10:33 IST on BSE after net profit dropped 57.38% to Rs 215.55 crore on 5.8% fall in total income to Rs 9833.40 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 29 May 2017.

Meanwhile, the S&P BSE Sensex was up 16.18 points, or 0.05% to 31,125.46

On the BSE, 17.11 lakh shares were traded in the counter so far, compared with average daily volumes of 7.85 lakh shares in the past one quarter. The stock had hit a high of Rs 146.90 and a low of Rs 133.65 so far during the day. The stock hit a 52-week high of Rs 182.65 on 25 April 2017. The stock hit a 52-week low of Rs 113.90 on 24 June 2016.

The stock had underperformed the market over the past one month till 29 May 2017, falling 12.75% compared with the 3.98% gains in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 5.37% as against Sensex's 8.23% gains.

The large-cap company has equity capital of Rs 489.52 crore. Face value per share is Rs 2.

On a consolidated basis, Bhel reported net profit of Rs 455.18 crore in the year ended 31 March 2017 (FY 2017) as compared with net loss of Rs 705.58 crore in FY 2016. Total income rose 7.23% to Rs 28,965.83 crore in FY 2017 over FY 2016.

The company has outstanding order book position of Rs 105200 crore as on 31 March 2017.

Bhel's board of directors has recommended final dividend of Rs 0.78 per share for the year ended 31 March 2017 (FY 2017).

Bhel is an integrated power plant equipment manufacturer and one of the largest engineering and manufacturing company. The company is engaged in the design, engineering, manufacture, construction, testing, commissioning and servicing of a wide range of products and services for core sectors of the economy, viz. power, transmission, industry, transportation (railways), renewable energy, oil & gas, water and defence with over 180 products offerings to meet the needs of these sectors.

The Government of India currently holds 63.06% stake in Bhel (as per the shareholding pattern as on 31 March 2017).

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