BHEL Receives ₹31-lakh Tax Demand From Maharashtra Authorities

Bharat Heavy Electricals Limited is a central public sector enterprise in India and the largest state-owned company specialising in electrical and industrial technology. The company is under the ownership of the Government of India, with oversight from the Ministry of Heavy Industries.

Tax Demand from Maharashtra Authorities

Bharat Heavy Electricals Limited (BHEL), a prominent public sector entity in India, has been served with a tax demand notice amounting to ₹31 lakh by the tax authorities in Maharashtra. This notice points to an outstanding tax issue, adding to the array of challenges that the company is currently facing in the financial year.

Although BHEL has not yet provided specific information about the nature of the tax demand, it is anticipated that the company will thoroughly assess its options, which may involve filing an appeal or complying with the demand depending on their legal evaluation.

Bharat Heavy Electricals Limited (BHEL) Q2 FY25 Results

Bharat Heavy Electricals Limited (BHEL) reported impressive financial results for Q2 FY25, with revenues jumping to ₹6,584.1 crore, marking a 28.5% rise from ₹5,125.3 crore in the corresponding quarter last year. Total income also increased to ₹6,695.4 crore, showcasing the company’s strong operational progress.

The net profit reached ₹106.15 crore, representing a notable turnaround from a net loss of ₹211.4 crore in Q2 FY24. The earnings per share (EPS) for the quarter amounted to ₹0.30. Despite total expenses rising to ₹6,570.6 crore, the total comprehensive income demonstrated significant improvement, standing at ₹82.36 crore compared to losses incurred in the previous year.

BHEL Experienced Strong Order Inflows

The company’s robust order inflows, particularly from the power and industrial sectors, have played a crucial role in bolstering its resilience. Additionally, BHEL has broadened its portfolio by venturing into new areas, such as Industry 4.0 solutions, which are in line with India’s ongoing industrial and infrastructure development.

Bharat Heavy Electricals Share Price Performance

As of 11:28 AM, shares of Bharat Heavy Electricals Ltd. traded at ₹251.75 on the NSE. To date, the share price has been trading at a remarkably high ₹254.40.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.