BHEL - FIRST QUARTER = Q1 FY2011 = NET PROFIT UP BY 41.9% = HUGE ORDER BOOK AND GROWTH PROSPECTS

Bharat Heavy Electricals Limited

NSE Symbol BHEL

Q1 FY2011 RESULTS

COMPARISON

BHEL has announced results for Q1 FY2011 which show a 41.9% improvement in profit over Q1 FY2010 – showing healthy improvement at all levels. The Q4 FY2010 is really not a comparable quarter for most PSYs. Hence, comparison is limited to Q1 FY2010.

Net Sales       has increased by 15.8% to Rs.6479.69 Cr compared to Q1 FY2010 (Rs.5595.65Cr).

Total Expenditure        has also increased by 11.3% to Rs.5762.91 Cr from Rs.5175.56 in Q1 FY2010.

Profit from Operations        is up by 69% to Rs.838.13 cr compared to rs.495.86 cr in Q1 FY2010.    

Net Profit       is up by 41.9% to Rs.667.65 Cr – from rs.470.59 Cr in Q1 FY2010.

Basic EPS is Rs.13.64 compared to  Rs.9.61 in Q1 FY2010 – up by 41.9%. Last year EPS was Rs.88.06. If the same trend can be maintained, the EPS for current year could be around Rs.110.

At the beginning of FY2011, the order Book was in excess of Rs.1,40,000 crores. We are seeing further orders coming regularly for BHEL. BHEL also is on the look out for further growth areas constantly and succeeding in all of them. Thus, With a huge order Book already in its Kitty and more orders falling into its lap regularly, further improvement in profits and EPS is to be regularly expected from BHEL.

The current Market price is at around 2440/- , and at an EPS of rs.110, the PE Ratio is 22.18.

Considering its huge growth plans and bright future, one can always consider BHEL for medium to long term Portfolio.

RESULTS IN FIGURES :

BHEL	Jun-10	Mar-10	DIF%1	Jun-09	DIF%2	FY10 N/C
Net Sales	647969	1355910	-52.2	559565	15.8	3288030
Other OptgIncome	12135	38555	-68.5	7577	60.2	69251
SIT&WIP	-12525	-2475	406.1	-3005	317	-78665
Raw Materials	393461	805204	-51.1	357528	10.1	2009405
Employees Cost	133775	174336	-23.3	111368	20.1	515293
Depreciation	12689	16469	-23	9610	32	45801
Other Expenditure	48891	130119	-62.4	42055	16.3	285418
Total Expenditure	576291	1123653	-48.7	517556	11.3	2777252
Profit from Operations	83813	270812	-69.1	49586	69	580029
Other Income5	16345	20798	-21.4	22709	-28	82386
P B I & EI	100158	291610	-65.7	72295	38.5	662415
Interest6	383	1780	-78.5	428	-10.5	3350
P A I B B EI	99775	289830	-65.6	71867	38.8	659065
P B T	99775	289830	-65.6	71867	38.8	659065
Tax expense	33010	98872	-66.6	24808	33.1	228001
P A T	66765	190958	-65	47059	41.9	431064
Net Profit	66765	190958	-65	47059	41.9	431064
Dividend (%)	-	123		-		233
Face Value (In Rs	10	10	0	10	0	10
Paid Up Equity	48952	48952	0	48952	0	48952
Reserves	-	-		-		1542784
Basic EPS A EI	13.64	39.01	-65	9.61	41.9	88.06
Diluted EPS A EI	13.64	39.01	-65	9.61	41.9	88.06
Basic EPS B EI	13.64	39.01	-65	9.61	41.9	88.06
Diluted EPS B EI	13.64	39.01	-65	9.61	41.9	88.06
Public holding%	32.28	32.28	0	32.28	0	32.28

ANNOUNCEMENTS

TO THE EXCHANGE

23-07-2010        Bharat Heavy Electricals Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 647969 lacs for quarter ending on 30-JUN-2010 against Rs. 559565 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 66765 lacs for the quarter ending on 30-JUN-2010 against Rs. 47059 lacs for the quarter ending on 30-JUN-2009.          -

26-05-2010        Bharat Heavy Electricals Limited has informed the Exchange that the Board at its meeting held on May 26, 2010, have recommended Final Dividend @ 123% (Rs.12.30 per share) on the Paid-up share capital of the Company for the year 2009-10.         -

26-05-2010        Bharat Heavy Electricals Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 1355910 lacs for quarter ending on 31-MAR-2010 against Rs. 1054007 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 190958 lacs for the quarter ending on 31-MAR-2010 against Rs. 134747 lacs for the quarter ending on 31-MAR-2009.         -

26-05-2010        Bharat Heavy Electricals Limited has informed the Exchange regarding the consolidated Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 3317334 lacs for year ending on 31-MAR-2010 against Rs. 2651326 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 432692 lacs for the year ending on 31-MAR-2010 against Rs. 311517 lacs for the year ending on 31-MAR-2009.     -

26-05-2010        Bharat Heavy Electricals Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 3288030 lacs for year ending on 31-MAR-2010 against Rs. 2623419 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 431064 lacs for the year ending on 31-MAR-2010 against Rs. 313821 lacs for the year ending on 31-MAR-2009.

*  *  *   E N D   *  *  *