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BHEL’s orders crawl, accounting policy change boosts profits

Engineering company Bharat Heavy Electricals Ltd, or Bhel, saw its order book rise by a meagre Rs 4,000 crore to Rs 158,000 crore in the December 2010 quarter, compared to the previous quarter. Order book position is a key variable for any engineering company, as future revenue streams are forecasted, based on the order book’s level and growth. There appears to be a slowdown in new projects, which was visible when Larsen & Toubro declared its results too, recently.
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