BHEL2024-01-012024-03-31 BHEL2024-01-012024-03-31 BHEL2024-01-012024-03-31in-bse-fin:OneOperatingExpenses01Member BHEL2024-01-012024-03-31in-bse-fin:FourOperatingExpenses01Member BHEL2024-03-31 BHEL2024-01-012024-03-31in-bse-fin:OneReportableSegmentRevenue01Member BHEL2024-01-012024-03-31in-bse-fin:OneReportableSegmentRevenue02Member BHEL2024-01-012024-03-31in-bse-fin:FourReportableSegmentRevenue01Member BHEL2024-01-012024-03-31in-bse-fin:FourReportableSegmentRevenue02Member BHEL2024-01-012024-03-31in-bse-fin:OneReportableSegmentResults01Member BHEL2024-01-012024-03-31in-bse-fin:OneReportableSegmentResults02Member BHEL2024-01-012024-03-31in-bse-fin:FourReportableSegmentResults01Member BHEL2024-01-012024-03-31in-bse-fin:FourReportableSegmentResults02Member BHEL2024-01-012024-03-31in-bse-fin:OneReportableSegmentAssets01Member BHEL2024-01-012024-03-31in-bse-fin:OneReportableSegmentAssets02Member BHEL2024-01-012024-03-31in-bse-fin:OneReportableSegmentLiabilities01Member BHEL2024-03-31in-bse-fin:OneReportableSegmentLiabilities01Member BHEL2024-01-012024-03-31in-bse-fin:OneReportableSegmentLiabilities02Member BHEL2024-03-31in-bse-fin:OneReportableSegmentLiabilities02Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 500103 BHEL NOTLISTED Bharat Heavy Electricals Limited Equity 2023-04-01 2024-03-31 2024-05-21 2024-05-09 INR Crores Yearly 15:00:00 16:20:00 2024-05-21 2024-05-21 true Cash Flow Indirect Declaration of unmodified opinion Multi segment 2024-01-01 2024-03-31 Audited Consolidated 82602500000.00 1565900000.00 84168400000.00 57554800000.00 0.00 -2349000000.00 14846800000.00 1933200000.00 684000000.00 5271300000.00 77941100000.00 6227300000.00 0.00 6227300000.00 -296800000.00 1763800000.00 1467000000.00 0.00 4760300000.00 0.00 0.00 0.00 135900000.00 4896200000.00 -460400000.00 4435800000.00 4896200000.00 0.00 4435800000.00 0.00 6964100000.00 2 1.41 1.41 0.00 0.00 1.41 1.41 0.00 0.00 0.00 3. The figures have been re-grouped/re-arranged, wherever considered necessary to conform to the current period's classification. 4. The above results have been prepared in accordance with applicable SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. These results have been reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on 21.05.2024 5. The financial results have been prepared in accordance with Indian Accounting Standards (IND-AS) as prescribed under Section 133 of the Companies Act, 2013. 6. Figures of last quarter are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the financial year. 7. The Parent Company hereby declares that the Auditors have issued Audit Report for Consolidated Financial Statements with unmodified opinion for the year ended 31st March 2024. 8. The Board of Directors has recommended a final dividend of Rs 0.25 per share (Face Value Rs. 2 per share). 9. During the year ended 31.03.2024, the company has changed its accounting policy in line with the EAC opinion received during the year from ICAI, with respect to factoring time value of money while calculating Expected Credit Losses in respect of Contract Assets. The change has been applied retrospectively and a balance sheet (as on 01.04.2022) is provided to restate financial statements in compliance with Ind AS 8. The impact provided for Expected Credit Loss on contract assets as on 1st April 2022 is reduction in total equity by Rs.2,626.50 Cr, withdrawal in Provision for ECL for FY 2022-23 is Rs.236.17 Cr and withdrawal in Provision for ECL for Current Year 2023-24 is Rs.1,093.50 Cr. Impact of the adjustments on the various components of the financial results (to the extent applicable) are as under: (Rs/Cr.) 03 Months Ended 09 Months Ended Year Ended 31.12.2023 31.03.2023 31.12.2023 31.12.2022 31.03.2023 Previously reported Profit (PAT) for the period/year (148.77) 611.00 (730.78) (133.61) 477.39 Increase/(Decrease) in Other expenses (Provision & Write off) (279.40) (62.83) (699.40) (173.34) (236.17) Increase/(Decrease) in Tax expense - Deferred tax 70.32 15.81 176.02 43.63 59.44 Restated Profit (PAT) for the period/year 60.31 658.02 (207.40) (3.90) 654.12 Previously reported Basic & Diluted Earnings Per Share for the period/year (0.43) 1.75 (2.10) (0.38) 1.37 Restated Basic & Diluted Earnings Per Share for the period/year 0.17 1.89 (0.60) (0.01) 1.88 Impact of the adjustments on the various components of the statement of assets and liabilities as at 31.03.2023 (to the extent applicable) are as under: (Rs/Cr.) As previously reported Increase/ (Decrease) As restated Other current assets 13050.84 (951.48) 12099.36 Other non-current assets 19277.71 (2322.21) 16955.50 Deferred Tax Asset (Net of Liab) 3422.62 823.92 4246.54 Total Assets 59369.79 (2449.77) 56920.02 Other Equity 26131.62 (2449.77) 23681.85 Total Equity 26828.03 (2449.77) 24378.26 Total Equity & Liabilities 59369.79 (2449.77) 56920.02 Due to the character constraint, further note to financial results i.e Note no. 10 to 13 are mentioned in the notes to Assets Liabilities. Multi segment 2023-04-01 2024-03-31 Audited Consolidated 238927800000.00 5462700000.00 244390500000.00 172438500000.00 0.00 -4367400000.00 56288400000.00 7312900000.00 2489000000.00 8442300000.00 242603700000.00 1786800000.00 0.00 1786800000.00 -1125600000.00 730000000.00 -395600000.00 0.00 2182400000.00 0.00 0.00 0.00 639800000.00 2822200000.00 -825500000.00 1996700000.00 2822200000.00 0.00 1996700000.00 0.00 6964100000.00 2 0.00 0.81 0.81 0.00 0.00 0.81 0.81 0.00 0.00 0.00 Other Expenses 5271300000.00 Other Expenses 8442300000.00 25106900000.00 2823200000.00 0.00 0.00 633500000.00 260400000.00 0.00 2544800000.00 11900000.00 32246900000.00 0.00 2061000000.00 34319800000.00 42012600000.00 136896900000.00 244598100000.00 72205700000.00 0.00 47853800000.00 18350400000.00 43224300000.00 0.00 2398200000.00 111826700000.00 2290700000.00 159133800000.00 345456900000.00 0.00 0.00 590055000000.00 6964100000.00 237422440000.00 244386540000.00 244386540000.00 235500000.00 22927600000.00 3258800000.00 26421900000.00 24890800000.00 0.00 0.00 41027700000.00 92340400000.00 88329100000.00 86962400000.00 14184400000.00 189475900000.00 40669440000.00 23182720000.00 0.00 0.00 253328060000.00 0.00 0.00 345668460000.00 590055000000.00 These notes are in continuation of notes mentioned in the Financial results:- 10. Based on the historical experience / technical assessment, the company has reviewed its provisioning for warranties (contractual obligations) in line with the board approved accounting policies, which resulted in reduction of revenue by Rs. 92.47 Cr, and reduction in provisions by Rs. 1,356.12 Cr during the year. 11. Trade receivables includes overdue amount of Rs 211 Cr (USD 25.5 million) from customer STPG (formerly NEC Sudan), stuck on account of civil war, which has been considered good and not provided for as approved by the Board. 12. A ransomware incident on BHEL IT Systems occurred on 05th -06th Jan 2024 night. The incident was reported to Computer Emergency Response Team (CERT-In), National Critical Information Infrastructure Protection Centre (NCIIPC) and an online FIR was lodged with National Cyber Crime Reporting Portal. The impact of the ransomware incident was seen mainly in few services like e-Office (file movement system), e-mail and File sharing server. Owing to robust cyber security measures and Disaster Recovery mechanism in place, the impacted services were restored successfully without any data loss and financial impact. 13. Additional disclosures as per Regulation 52(4) of SEBI (Listing obligations and Disclosure Requirements) Regulations ,2015 are enclosed at Annexure A. Industry 19811000000.00 Power 59027800000.00 Industry 52108800000.00 Power 177096400000.00 78838800000.00 229205200000.00 78838800000.00 229205200000.00 Industry 1691500000.00 Power 11459100000.00 Industry 1370800000.00 Power 16570300000.00 13150600000.00 17941100000.00 1933200000.00 7312900000.00 4854200000.00 8201600000.00 6363200000.00 2426600000.00 Industry 84181400000.00 Power 395618300000.00 479799700000.00 110255300000.00 590055000000.00 Industry 60812100000.00 Power 206708900000.00 267521000000.00 78147400000.00 345668400000.00 7312900000.00 -5030400000.00 -20557900000.00 -4134500000.00 -43529100000.00 34816200000.00 634100000.00 533800000.00 0.00 -11894000000.00 2268400000.00 1046500000.00 10565000000.00 2489000000.00 0.00 -4783600000.00 -7098200000.00 134000000.00 701800000.00 560300000.00 0.00 4937800000.00 0.00 0.00 0.00 -77800000.00 0.00 -156200000.00 0.00 -41137500000.00 -39350700000.00 0.00 0.00 0.00 -2221700000.00 0.00 -37129000000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 89200000.00 2325000000.00 8000000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 416500000.00 3993000000.00 0.00 11126900000.00 0.00 13308600000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 34230000000.00 390500000.00 0.00 0.00 1394500000.00 5887600000.00 0.00 0.00 26557400000.00 2737000000.00 0.00 2737000000.00 15613400000.00 18350400000.00 -615240000.00 -1103140000.00 -154840000.00 -277640000.00