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rinkumalpani
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Joined: 28/Jun/2010
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   Posted: 19/May/2011 at 2:29pm |
Originally posted by basant
They are secular growth stories BHEL is heavily dependent on the economy. |
so, arent you bullish on the economy any more??
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basant
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Posted: 19/May/2011 at 2:55pm |
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I'm not bullish on pure infra plays.
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'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
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rinkumalpani
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Posted: 19/May/2011 at 3:23pm |
Originally posted by basant
I'm not bullish on pure infra plays.
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sir, could you please give a hint of the thought process which makes you not so bullish on pure infra plays which might guide me at looking at things from a new perspective ...beacause to me it looks obvious that to support the growth of the indian concumption theory, infrastruture development is a must and continuos process..(eg. where will these many automobiles run if there are no proper roads)...unless this whole growth story is another bubble..?
Edited by rinkumalpani - 19/May/2011 at 3:48pm
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manish_okhade
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Posted: 19/May/2011 at 4:35pm |
Rinku,
Infra is aextremely capital intensive business and capital is becoming scarce so even though demand is genuin but supply is becoming an issue. While domestic consumption is something of an necessity.
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rinkumalpani
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Posted: 19/May/2011 at 5:16pm |
Originally posted by manish_okhade
Rinku,
Infra is aextremely capital intensive business and capital is becoming scarce so even though demand is genuin but supply is becoming an issue. While domestic consumption is something of an necessity. |
agreed that infra is a capital intensive business,( and for an investors purpose what matters is earnings and positive cash flow) but if this demand supply gap is not filled, don't you think this will create another bubble and the system might collapse..(i mean you can't have everybody honking on the road with no place to move ur car into, or you cannot buy all those kitchen appliances unless you have a house which is safe..or you won't buy electronic items if you don't have the power to run them)..For inclusive growth, infrastructure will have to be revamped..and some company/companies will have to do that......yes, For the growth of our pfolio, you might be right..consumption stories luk better.. 
Edited by rinkumalpani - 20/May/2011 at 3:02pm
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shontou
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Posted: 16/Nov/2011 at 8:15am |
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Conference Call
Bharat Heavy Electricals
Order intake was Rs 14306 crore in Q2FY12
Bharat Heavy Electricals (BHEL) held a conference call on Nov 14, 2011. In the conference call the company was represented by B Prasada Rao, CMD and P K Bajpai, Director Finance.
Key takeaways of conference call
Order inflow for the quarter ended Sep 2011 was Rs 14306 crore and of which power sector orders were Rs 91418 crore. Order book as end of Sep 2011 was Rs 1,61,040 crore of which power sector orders were Rs 128015 crore, industrial is Rs 22748 and international is Rs 10263 crore.
Of the order inflow of Rs 14306 crore, the power sector orders were Rs 9018 crore and industrial orders were Rs 5598 crore and balance are exports.
Higher margin of industrial segment is largely on account of higher margin orders coming up for execution. For some time this market segment is moving towards higher rating sets where there is not much of competition for BHEL and thus higher margin in the orders booked. With this orders coming up for execution the margins were higher.
Inventory build up has to be done as there is reduction in cylce time the company has to place orders for long lead items as well as imported items so as to meet the customer delivery schedule and this has forced inventory builtup.
All power sector order that forms part of its order book have tiedup for fuel supply.
The company has changed its accounting policy relating to leave encashment by calculating its liability on the basis of 30 days a month compared to earlier 26 days a month. On account of this there was a reduction in liability and an cumulative amount of Rs 166 crore has been accounted during the quarter ended Sep 2011.
Lower tax rate is on account of rebate towards R&D expenses.
Sharp rise in other expenses is largely on account of higher provisions, higher insurance, higher freight charges etc.
Net provision (net of withdrawal and fresh provisions) part of other expenses is about Rs 497 crore for H1FY12 compared to Rs 75 crore in the corresponding previous period. Provision towards Liquidated damages for the half was Rs 181 crore (Rs 27 crore in Q2FY11) and withdrawal of the same for the period is Rs 10 crore (Rs 32 crore in Q2FY11).
The company has availed a packing credit of Rs 1300 crore as it is available at lower interest rate.
Equity investment in JV so far is Rs 481 crore.
The TNEB JV Power Project i.e. Udangudi power project is still awaiting for coal linkage.
BHEL's agreement with Alstom is exclusive and they can't compete in India for super critical boilers. The company has absorbed the technology and is not dependent on Alstom.
Order book does not include the NTPC bulk tender of 9X800 MW sets. The company has to match the price of L1 as far as this order is concerned. The company has bagged the two BTG orders that got finalised & awarded in the country during Q2FY12.
Since the company has filed the DRHP, the management refused to make any forward looking statement
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Every day, self-proclaimed stock market "experts" tell us why the market just went up or down, as if they really knew. So where were they yesterday?
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gbhupesh
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Joined: 11/Feb/2008
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Posted: 23/Nov/2011 at 10:08am |
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20% down in last 15 days! Sensex stock available at 10 PE how it is now?
Are we expecting EPS to be down in coming Qs? Margin pressure?
Edited by gbhupesh - 24/Nov/2011 at 7:39pm
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Kautilya
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Posted: 19/Apr/2012 at 9:31am |
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My indecision is final.
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