The high-voltage direct current or HVDC transmission order from Power Grid Corporation (PGCIL) is for evacuation of renewable power from Khavda, Gujarat to Nagpur. This is a 1,200 kilometre-long project with an estimated project value at ₹25,000 crore to be executed by 2029. HEIL's share of order inflow will be ₹4,000-6,000 crore.
Nuvama Research believes that HEIL has won the first of many HVDCs to be ordered out over the next three to four years to feed the country's ambitious 500GW RE evacuation goal by 2030 in consortium with BHEL. To benefit from the opportunity, the company had recently announced plans to invest ₹2,000 crore to expand its capacity, portfolio, and talent base in order to support accelerating global demand for clean energy solutions in the domestic as well as export markets.
On the results front, HEIL's Q2FY25 performance saw a miss on margins. Revenue growth was driven by a strong order book, and order inflows grew 12 per cent Y-o-Y to ₹1,950 crore. There was strong growth in transmission, industries, data centres, and renewables. In-line revenue and rising order flow was offset by a miss on profitability.
This story is from the November 27, 2024 edition of Business Standard.
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This story is from the November 27, 2024 edition of Business Standard.
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