BHEL’s revenue grows 19% in FY25 on power sector demand

State-run Bharat Heavy Electricals Ltd (BHEL) on Sunday reported a 19% growth in its revenue for 2024-25 at ₹27,350 crore driven by a healthy order book.

BHEL secured its highest-ever order inflows during the fiscal year, amounting to ₹92,534 crore, led by demand from the power sector, it said in a statement. With this, BHEL’s total order book at the end of 2024-25 stands at ₹1.95 trillion.

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In the power sector, BHEL bagged orders worth ₹81,349 crore, followed by the industrial segment, which recorded fresh orders worth ₹11,185 crore, reflecting the company’s diversified presence across sectors such as transportation, defence, process industries, and industrial equipment.

Mint earlier reported that the government’s renewed focus on setting up thermal power projects in the country and a surge in demand for coal-fuelled power generation have revived the fortunes of BHEL. The company, which struggled to get power equipment contracts for about three years before 2023-24, now has a full order book for boilers and engineering, procurement and construction contracts.

On the execution front, BHEL commissioned or synchronized 8.1GW of thermal power capacity. “With double-digit revenue growth, a record order book, and a healthy execution pipeline, BHEL enters 2025-26 with strong momentum. The company remains committed to delivering high-impact infrastructure, driving indigenisation, and enhancing stakeholder value,” said the company statement.

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For the quarter ended December, the company reported a consolidated net profit of ₹134.70 crore, more than double the profit reported in the corresponding period of 2023-24 at ₹60.31 crore.

According to its annual report for 2023-24, the state-run engineering company received orders worth about ₹52,000 crore for 9.6GW of thermal power projects in the fiscal year. The order momentum continued in 2024-25, with the government planning to set up 80GW of thermal power capacity by 2032.

The power sector makes up about 70% of BHEL's operations, the other major segment being industry, which caters to major equipment supplies and EPC works for industries, including transportation, transmission, defence, aerospace, and captive power plants. The company, which had not received any orders in the thermal power space for about three years starting August 2019 to September 2022, is now getting orders and enquiries even from private companies for the purchase of boiler, turbine and generator (BTG) goods, Mint earlier reported.

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On 21 March, the company announced that it had bagged an order worth ₹7,500 crore from Gujarat State Electricity Corp. Ltd, for the supply of equipment, development, and civil works of the '1x800MW Ukai Extn Unit No. 7' thermal power station, in Tapi district of Gujarat.

On Friday, its shares on BSE closed at ₹227.50, higher by 0.69% from its previous close.