New Delhi, June 05: State-run engineering major Bharat Heavy Electricals Limited witnessed strong investor interest on Friday after securing a mega engineering, procurement, and construction (EPC) contract worth more than Rs 21,000 crore.
The order, awarded by Meja Urja Nigam Pvt Ltd (MUNPL), relates to the development of the 3×800 MW Meja Supercritical Thermal Power Project Stage-II in Prayagraj, Uttar Pradesh.
Following the announcement, BHEL shares rose as much as 2.86% intraday to Rs 400.35 on the stock exchanges.
Rs 21,000 Crore EPC Contract for Meja Thermal Project
The contract encompasses the complete EPC package for the thermal power project, including:
- Design and engineering
- Manufacturing and supply of equipment
- Construction and erection works
- Testing and commissioning
- Project execution and integration
According to BHEL, the order was secured through an international competitive bidding process, underscoring the company’s strong position in India’s power equipment and infrastructure sector.
The project is scheduled for completion within 70 months, or nearly six years, from the issuance of the notification of award.
Strategic Power Project in Uttar Pradesh
The Meja Stage-II project will add 2,400 MW of thermal power generation capacity through three supercritical units of 800 MW each.
MUNPL is a joint venture between:
- NTPC Limited
- Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited
The project is expected to strengthen power generation infrastructure in Uttar Pradesh and support rising electricity demand in the region.
BHEL clarified that the transaction does not fall under related-party dealings.
Order Comes After Major Nigeria Contract
The latest win follows another significant international order secured earlier this month.
On June 2, BHEL signed a contract with Dangote Petroleum Refinery and Petrochemicals Free Zone Enterprise in Nigeria.
The contract involves:
- Design and manufacturing
- Supply of equipment
- Supervision of erection and commissioning
for eight gas turbine generator packages to be deployed at a petroleum refinery and polypropylene plant located within the Dangote Industries Free Zone.
The Nigerian project is expected to be executed within 26 months.
BHEL Stock Performance Remains Strong
Investor sentiment towards BHEL remains positive amid a strong order pipeline and improving financial performance.
Key stock performance metrics include:
- Share price gained 2.86% intraday to Rs 400.35.
- Stock has surged 55.75% over the past 12 months.
- Year-to-date gains stand at 36.55%.
- Trading volume reached 19.19 times the 30-day average.
- Relative Strength Index (RSI) stood at 44.17.
The latest project wins are expected to further strengthen earnings visibility for the company over the coming years.
Profit Jumps 156% in Q4 FY26
BHEL recently reported a strong financial performance for the January-March quarter of FY 2025-26.
The company posted:
- Consolidated net profit of Rs 1,290.47 crore.
- Profit growth of 155.8% year-on-year.
The robust earnings growth reflects higher execution levels, improved operational efficiency, and a healthy order inflow environment.
Order Book Swells to Rs 2.4 Lakh Crore
For FY 2025-26, BHEL recorded:
- Turnover of approximately Rs 32,350 crore.
- Annual growth of 18% over the previous year.
- Total order inflows of around Rs 75,000 crore.
As a result, the company’s outstanding order book has expanded to approximately Rs 2.4 lakh crore, providing long-term revenue visibility and strengthening its leadership position in the engineering and manufacturing sector.
Key Highlights
- BHEL secured an EPC contract worth over Rs 21,000 crore from MUNPL.
- Project relates to the 3×800 MW Meja Supercritical Thermal Power Project Stage-II.
- Contract awarded through international competitive bidding.
- Project completion timeline is 70 months.
- BHEL shares rose nearly 3% following the announcement.
- Company recently secured another major order from Nigeria’s Dangote Refinery.
- Q4 FY26 net profit jumped 155.8% to Rs 1,290.47 crore.
- Outstanding order book stands at approximately Rs 2.4 lakh crore.
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