BHEL bags order for electric buses

Bharat Heavy Electricals Limited (BHEL) has won a prestigious order for the supply of state-of-the-art electric buses along with charging infrastructure, for Gorakhpur (Uttar Pradesh).

The order has been placed by Urban Transport Directorate (UTD), Lucknow. These low floor and disabled-friendly electric buses will be deployed by UTD at Gorakhpur airport.

This is in-line with the company's transformation initiative of expanding into new markets. Further, as part of the transformation journey, BHEL is consolidating and reinvigorating the initiatives taken in defence & aerospace, water, e-mobility, batteries, renewables and transportation business.

During December quarter of FY20, an order inflow came in at Rs 5,950 crore, down by 22.7 per cent YoY. The company’s order book as on December 31, 2019 stood at Rs 1,07,654 crore, of which executable order book is ~ Rs 87,495 crore. The current order book has translated book to bill ratio of 3.5x considering its FY19 consolidated revenue.

Last month, BHEL had signed a MoU with joint stock company Rosoboronexport, Russia with an aim to cooperate and undertake joint projects and operations for Defence System.

On Monday, the stock of BHEL dipped 9.8 per cent to Rs 23.35 from its previous close of Rs 25.90.