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BHEL ends FY20 miserably; stock down over 5%

India covid-19 2020
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The company reported a net loss of Rs1,534 crore for the quarter, which is utterly discouraging. Note that for the nine months ended December, Bhel’s net profit was at Rs61 crore.

The March quarter performance dragged Bhel’s net loss for financial year 2020 to Rs1,473 crore.Bhel’s shares traded more than 5% lower in early deals on Monday, a day when the Nifty 50 index fell about 2%.“Bhel reported a negative cash flow from operations less working capital changes in FY20.

This reflects the impact of a large exposure to states hesitant in investing in power assets at present, deterioration in the gross margin profile through the year and covid-19 at the year-end," wrote analysts from Kotak Institutional Equities in a report on 14 June.March.

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United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
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Cases: 34 321 025
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Brazil
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
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Cases: 8 494 589
Deaths: 237 619
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