Bharat Heavy Electricals Q4 FY21 Results: Orders Hold Up as Losses Persist

FY21 turnover was INR 16,296 crore, EBITDA was negative INR 2,765 crore, and profit after tax was negative INR 2,717 crore, as per the presentation financial table.

The total order book was INR 1,02,090 crore as on 31.03.21, split across Power INR 84,179 crore, Industry INR 11,344 crore, and Exports INR 6,567 crore.

Orders received in FY21 were INR 8,984 crore in Power, INR 4,283 crore in Industry, and INR 205 crore in Exports, totaling INR 13,472 crore.

Operating cash flow was INR 562 crore in FY21, improving from negative INR 2,892 crore in FY20, based on the operating cash table in the presentation.

Total receivables including contract assets reduced to INR 31,292 crore in FY21 from INR 35,435 crore in FY20. Trade receivables were INR 7,213 crore and contract assets were INR 24,079 crore in FY21.

The presentation cites a first-ever lump sum turnkey downstream oil and gas order for a sulphur recovery unit at Indian Oil Corporation Limited Paradip, plus first-ever orders for a 650 metric tonne fractionator column and a hot oil heater package.

The presentation states research and development spend was INR 725 crore in FY21, described as 4.5 percent of turnover, and that 526 patents or copyrights were filed.