BHEL Secures ₹7,500 Crore Order from GSECL for Ukai Thermal Power Project

Shares of Bharat Heavy Electricals Ltd. (BHEL), the state-owned engineering and manufacturing enterprise, witnessed a modest jump of 2% on the afternoon of Friday, March 21, following the announcement of a major project win. The company informed the stock exchanges that it has received a substantial ₹7,500 crore order from Gujarat State Electricity Corporation Ltd. (GSECL).

This surge brought the stock to ₹210.73 at 1:56 PM, taking its month-to-date gain to 17.6% in March. However, despite this rebound, BHEL’s share price remains 8% lower for calendar year 2025.

Details of the Ukai Thermal Power Project

The newly awarded order pertains to an EPC (Engineering, Procurement and Construction) package for the 1×800 MW Ukai Extension Unit 7, located in Tapi District, Gujarat. As per the exchange filing, BHEL will be responsible for delivering a comprehensive package that includes:

• Supply of equipment
• Boiler, turbine and generator (BTG) units
• Associated auxiliaries
• Civil works
• Erection and commissioning

The project, won through an international competitive bidding process, is scheduled for completion within 54 months.

Recent Order Momentum Continues

This order follows closely on the heels of BHEL’s strong performance in the previous month. In February 2025, the company had secured:

• A ₹6,700 crore contract from Singareni Collieries Company Ltd. to set up an 800 MW thermal power unit in Telangana.
• A separate ₹6,200 crore order from Damodar Valley Corporation.

These recent wins indicate a continuing momentum in BHEL’s order inflows, particularly in the thermal power segment, which remains a critical component of India’s energy infrastructure.

Market Reaction and Stock Performance

The stock market has reacted positively to BHEL’s robust order book additions. The 2% rise on March 21 reflects investor optimism surrounding the company’s operational visibility and project pipeline.

Still, it’s worth noting that despite the gains observed in March, the stock’s performance remains subdued for the calendar year 2025, down 8% year-to-date.

Conclusion

The ₹7,500 crore EPC order from GSECL further strengthens BHEL’s role in India’s power generation sector. With a string of large-scale orders announced in quick succession, the company appears to be reinforcing its position in the thermal infrastructure space. How these project executions unfold over the next few years will be keenly watched by market participants and stakeholders alike.

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