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State-owned engineering firm BHEL on Sunday posted a 19 per cent on-year growth in revenue at Rs 27,350 crore for the fiscal year 2024-25. The company also secured its highest-ever order inflows during the year, amounting to Rs 92,534 crore, a company statement said. With this, BHEL's total order book at the end of FY 202425 stood at Rs 1,95,922 crore, it stated. According to the statement, Bharat Heavy Electricals Ltd (BHEL) registered a revenue of Rs 27,350 crore (provisional and unaudited) for FY 202425, marking a robust growth of around 19 per cent over the previous year. The company stated that in the power sector, BHEL maintained its leadership by winning orders worth Rs 81,349 crore. The industrial segment recorded fresh orders worth Rs 11,185 crore, reflecting the company's diversified presence across sectors such as transportation, defence, process industries, and industrial equipment, it stated. On the execution front, BHEL commissioned/synchronised 8.1 GW of thermal po
The electric locomotive manufacturing unit at Dahod in Gujarat will start producing a sufficient number of high-speed freight train engines in another three years so that India can export them, Railway Minister Ashwini Vaishnaw said here on Saturday. Vaishnaw, who was on a day-long visit to Gujarat, went to Dahod to review this yet-to-be fully functional manufacturing unit as well as the production status of the first 9000 horsepower (HP) engine from here. He inspected the engine and said it will be ready to serve the Indian Railways in another few months. The foundation stone of the unit at Dahod was laid in April 2022 by Prime Minister Narendra Modi with an estimated cost of Rs 20,000 crore. According to the railways, increasing the speed of freight trains is a vital concern for which high horsepower and high-speed locomotives are required to be inducted. "Hence, the Ministry of Railways had decided to manufacture 9000 HP high-speed freight locomotives, at Rolling Stock Workshop
Gensol Engineering on Tuesday said it has inked a pact for sale of its US subsidiary Scorpius Trackers Inc for Rs 350 crore to a major renewable energy solutions provider in the US. The deal includes the transfer of exclusive and global intellectual property (IP) rights (except India) for Scorpius Trackers' advanced solar tracking technology, the company said in a statement. According to the statement, Gensol Engineering -- a leading player in India's renewable energy sector -- has signed a non-binding term sheet for a Rs 350 crore strategic transaction involving the sale of its US subsidiary, Scorpius Trackers Inc, to a major renewable energy solutions provider in the US. This transaction underscores Gensol's strategy to monetise high-value assets, unlock capital from its subsidiaries, and reinvest in its core growth areas, strengthening the company's financial position, it said. The deal will be completed in two tranches, with full closure expected by March 2026, subject to due .
The Engineering Export Promotion Council (EEPC), India on Sunday proposed the introduction of a faceless GST audit system to boost ease of doing business in the country. The apex engineering exports promotion body's proposal comes following the successful implementation of faceless assessment' by the Income Tax department. The faceless GST audit system, by using technology and ensuring anonymity, will reduce compliance costs. A faceless system will streamline procedures allowing MSMEs to focus on growth and innovation," said Pankaj Chadha, chairman of EEPC India. The proposal is a part of EEPC India's Budget 2025 recommendation. By introducing a faceless GST audit system, India can further improve its ranking in the Ease of Doing Business index, making it a more attractive destination for foreign investors, it said. It also proposed that Reverse Charge Mechanism (RCM) related liabilities should be eligible for the Amnesty Scheme' to address challenges faced by exporters, who may b
Piping solutions provider Dee Development Engineers Ltd reported a 125 per cent rise in consolidated profit to Rs 22.26 crore in the September quarter. The company had posted a consolidated profit of Rs 9.88 crore in the year-ago period, the company has said in a filing to the BSE. The consolidated income of the company during the July-September period rose to Rs 210 crore over Rs 186.16 crore in the year-ago period. "We are currently setting up the New Anjar Facility II, which will scale our production capacity... This facility will be commissioned by the end of Q3 FY25 and will play a pivotal role in reducing logistics costs, enhancing production efficiency, and lowering manpower cost," DEE Development Engineers Ltd Chairman Krishan Lalit Bansal said.
Pritika Engineering Components on Friday posted a 78.20 per cent rise in its net profit to Rs 1.64 crore in the September 2024 quarter, mainly due to higher revenues. "Net profit rose by 78.20 per cent YoY (year-on-year) to Rs 1.64 crore in Q2 FY25, compared to Rs 0.92 crore in Q2 FY24," a company statement said. According to the statement, its revenue increased by 40.59 per cent year-over-year (YoY) to Rs 32.03 crore in Q2 FY25 from Rs 22.78 crore in Q2 FY24. Pritika Engineering also posted robust financial results in H1 FY25. The revenue grew by 23.97 per cent to Rs 54.92 crore against Rs 44.30 crore in H1 FY24. Its net profit increased by 39.87 per cent to Rs 2.58 crore in H1 FY25 compared to Rs 1.85 crore in H1 FY24, it added. Harpreet Singh Nibber, Managing Director of Pritika Engineering Components, said, "We are pleased to report a robust performance in Q2 FY25, highlighted by a significant increase in revenue of 40.59 per cent year-over-year, reaching Rs 32.03 crore". In
Integrated sugar and ethanol manufacturer Triveni Engineering and Industries on Tuesday reported a consolidated loss of Rs 22.4 crore during the September quarter, due to subdued profitability in sugar and alcohol business. The company had posted a profit after tax (PAT) of Rs 29.1 crore in the year-ago period, Triveni Engineering and Industries said in a statement. Revenue from operations of the company grew 8.1 per cent during the second quarter of the current fiscal year to Rs 1,748.3 crore compared to Rs 1,617.4 crore a year earlier. Triveni Engineering and Industries Chairman and Managing Director Dhruv M Sawhney said, "Overall profitability of the company during the half year ended September 30, 2024 was subdued, impacted by lower margins in the alcohol business and losses of new subsidiary SSEL, which was recently acquired. "For the sugar season, the profitability in the first half of the financial year remains muted due to spending of fixed expenses during the off-season ..
ABB India on Monday reported over 21 per cent rise in profit after tax at Rs 440 crore for the third quarter ended September 30, pushed by higher income. It had posted Rs 362 core profit after tax (PAT) in July-September period a year ago, the company said in an exchange filing The company follows January to December as financial year. Total income increased to Rs 3,005.05 crore from Rs 2,846.01 crore in the year-ago period. "We have delivered another quarter of consistent performance, creating balanced and profitable growth for our stakeholders and deepening engagement with our customers. The quarter was marked by record levels of backlog complemented by a strong book to bill and cash," the company's Managing Director, Sanjeev Sharma said in a statement. The large orders emerged from diverse sectors like transportation, metals, and even new ones like data centers. This provides each division the flexibility to leverage opportunities as per their business cycles and bandwidth and