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India’s largest engineering and manufacturing company Bharat Heavy Electricals Limited (BHEL) made no effort to innovate or strategise its business leading to heavy losses, the Comptroller & Auditor General of India said in its audit report on the company.
BHEL, which has more than 75 per cent business coming from the power sector, suffered due to the slowdown in the same. CAG observed that as BHEL did not diversify into other business areas, its turnover reduced by more than half in three years when power sector went in lull.
“As BHEL had not effectively diversified into new/less operated
BHEL, which has more than 75 per cent business coming from the power sector, suffered due to the slowdown in the same. CAG observed that as BHEL did not diversify into other business areas, its turnover reduced by more than half in three years when power sector went in lull.
“As BHEL had not effectively diversified into new/less operated
