State-owned engineering firm Bharat Heavy Electricals Ltd (BHEL) on Friday (March 7) said the Delhi High Court has upheld an interim arbitration award of ₹115 crore in favour of the company against RattanIndia Power Ltd.
“…it is informed that an interim award passed in favour of Bharat Heavy Electricals Ltd. (BHEL) for an amount of ₹ 115 crores with interest @18% per annum w.e.f. 30 days from the date of the award, i.e. 27.07.201,7, against M/s RattanIndia Power Ltd. has been upheld by the Hon’ble High Court of Delhi vide judgment dated 06.03.2025,” Bharat Heavy Electricals said in a regulatory filing.
The judgment, dated March 6, 2025, confirms the validity of the award, which includes an 18% annual interest applicable from 30 days after the original award date of July 27, 2017.
Also Read: BHEL shares surge after net profit nearly triples in Q3, margin expands
For the third quarter, the company’s net profit increased by 170% to ₹124 crore, while its revenue grew by 32% from last year to ₹7,277 crore. Although revenue was a beat, the net profit was a miss on analyst estimates of ₹175 crore.
BHEL’s earnings before interest, tax, depreciation and amortisation (EBITDA), grew by 40% to ₹304 crore, while the margin expanded 30 basis points to 4.2% from 3.9% last year. The margin expansion was kept in check due to a steep jump in other expenses.
BHEL’s order inflow surged by 167% from last year to ₹6,860 crore, while its order book grew 47% year-on-year (YoY) to ₹1.6 lakh crore. Revenue from the power segment grew by 32% to ₹5,588 crore, while industrial segment revenue also increased by 33% to ₹1,688.6 crore. Margins for both these businesses saw an expansion on a YoY basis.
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Shares of Bharat Heavy Electricals Ltd ended at ₹196.70, down by ₹1.70, or 0.86%, on the BSE.
