State-run engineering firm Bharat Heavy Electricals Ltd (BHEL) logged over 17 per cent growth in new orders bagged in 2022-23 to Rs 23,548 crore compared to the previous year due to its diversified business approach.

BHEL secured new orders worth Rs 20,078 crore in 2021-22, according to a company statement.

“BHEL secured orders worth Rs 23,548 Crore (excluding taxes) during 2022-23 in its power, industry and export segments and the company ended the year with a total order book of over Rs 91,336 crore (excluding taxes),” it stated.

The latest outstanding order book has crossed Rs 1,00,000 crore (excluding taxes) with the finalisation of the prestigious Vande Bharat trainset order in April 2023, it explained.

The BHEL-TWL (BHEL-Titagarh Wagons Ltd.) consortium has been awarded an order valued at about Rs 23,000 crore (excluding taxes) for 80 Vande Bharat Trains in one of the biggest Railway tenders for manufacturing-cum-maintenance of Vande Bharat Trains.

This order will give further impetus to the company’s diversification drive, it pointed out.

As part of its diversification strategy, BHEL has also leveraged its Pressurised Fluidised Bed Gasification technology for coal gasification and has entered into MoUs (memorandum of understanding) with Coal India and NLC India for development of coal gasification projects.

During the fiscal year, the BHEL commissioned 1,580 MW of power-generating equipment, in addition to synchronising captive/solar projects of 298 MW.

With this, the company’s global installed power generating capacity has gone up to 195 GW.