To overcome its losses, the Bharat Heavy Electricals (BHEl) is searching for new prospects in the market. It is in the talks with Kawasaki company to get orders of motors and traction motors used in metro trains.
Executive Director of the BHEl Bhopal AMV Yugandhar told media persons that the Bhopal unit is likely to get the orders in this regard. He stated that despite the BHEl facing corporate losses, the Bhopal unit is had profit of Rs 470 crore in the year 2015-16. Besides, the Bhopal unit that was on fourth position around a decade ago, has reached on second, he added.
He informed that there are better prospects in solar, hydro and wind energy projects. In all these three sectors, the Bhopal unit of the BHEl is working and thus, the Bhopal unit is still in profits. Those orders of the BHEl worth Rs 1 lakh crore that were held up, are again functional. “I expect that by the end of this fiscal, the BHEl would return to its old position by overcoming losses,” he added.
Talking about recovery of over dues from the customers, Yugandhar stated that in the recent past, the BHEl has recovered around Rs 4,000 crore from different clients. This amount included the seized amount by the customers due to some dispute in orders, he added.