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Bharat Heavy Electricals (BHEL) rose 2.36% to Rs 216.80 after the company signed a strategic memorandum of understanding (MoU) with Nuovo Pignone International S.r.l. to jointly address compressor revamp opportunities in India's fertilizer sector.
BHEL will act as the lead bidder, while Nuovo Pignone will be a nominated vendor with defined responsibilities. The agreement, effective from 9 April 2025, will last for ten years and is expected to enhance the company's market share in the sector without forming a new entity or involving any upfront payment.
This strategic tie-up will allow BHEL to address compressor revamp opportunities in India's fertilizer sector, with an estimated business share of approximately 50% in financial terms.
Navratna PSU BHEL is India's largest engineering and manufacturing enterprise in the energy and infrastructure sectors. It is a leading power equipment manufacturer globally. As of 31 December 2024, the Government of India held a 63.17% stake in the company.
The company's consolidated net profit zoomed 123.34% to Rs 134.70 crore in Q3 FY25 as against Rs 60.31 crore posted in Q3 FY24. Revenue from operations grew by 32.21% year on year (YoY) to Rs 7,277.09 crore in the quarter ended 31 December 2024.
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