HEC Limited has orders worth Rs 855 cr in FY20 so far

In the current fiscal, HEC Limited has bagged orders worth Rs 855 cr, which is the highest order value secured by it in the last eight years

Ranchi: State-run HEC Limited (Heavy Engineering Corporation Limited) has bagged orders worth Rs 855 crore till date in financial year 2019-20, an official statement said. This is the highest order value received by HEC Limited in the last eight years and with this, it has exceeded the year's target with three months to go for the financial year to end.

Orders secured by HEC Limited

Amongst the orders secured, prestigious orders for the strategic sector have been bagged by HEC Limited which is solely towards "Make in India." While on the one hand, the company is making strides towards securing orders for the strategic sector as part of diversification, on the other hand, the focus is to bag orders for regular products which will help in an easy regeneration of working capital.

Recently, HEC has bagged a bulk order from Bharat Heavy Electricals Limited (BHEL) for the fabrication of structures for Flue Gas Desulphurisation (FGD) projects in thermal power plants. Against a challenging commitment towards the execution of the massive order, team HEC is poised to execute the order on a war-front, the statement said. In the last month, HEC bagged orders worth Rs 100 crore, which comprises of orders for Conveyor Systems and allied equipment for RINL-VSP (Vizag); order for Flameproof 200/25T Crane from Indian Space Research Organisation (ISRO) which shall be utilised to lift and place the propellants in a hazardous area; and another order for crusher spares from NCL.

The backdrop

In the last three quarters of FY 2019-20, HEC has bagged prestigious orders which comprise of orders for B-11 Project, Aakanksha which are of import substitution nature and turn-key project for revamping and the upgradation of SM-1&2 for VSP, respectively.

While HEC receives orders against global competition, it continues to contribute towards import-substitution. Presently, the orders in hand with HEC have soared to approximately Rs 1,200 crore. Against the ups and downs faced by HEC in the year 2019, HEC looks upon to these orders and their execution to bring about a positive change in the coming year.