CRISIL said the rating downgrade reflects weakening of the business and financial risk profile BHEL, owing to significantly weaker than-expected operating performance in fiscal 2021, and operating losses reported for the second consecutive year. The Negative outlook factors in the likelihood that profitability may remain under pressure in fiscal 2022, amidst the ongoing pandemic, further weakening the credit risk profile. Meanwhile, the rating on the short-term facilities has been reaffirmed at CRISIL A1+. On a consolidated basis, BHEL reported net loss of Rs 1,034.82 crore in Q4 FY21, lower than net loss of Rs 1,532.67 crore in Q4 FY20. Net sales rose 47% to Rs 6,751.88 crore in Q4 FY21 over Q4 FY20. State-run BHEL is engaged in design, engineering, construction, testing, commissioning and servicing of a wide range of products and services to the core sectors of economy. As of 31 March 2021, the Government of India held 63.17% stake in the company. Shares of BHEL fell 1.83% to Rs 64.30 on Friday. Powered by Capital Market - Live News |