Good news for Investors of

BHEL

: 17 April 2025

-BARC Agreement for Indigenous Hydrogen Tech Bharat Heavy Electricals Ltd (BHEL) has entered into a Technology Transfer Agreement (TTA) with Bhabha Atomic Research Centre (BARC) to achieve complete indigenous development of alkaline electrolyser systems for hydrogen production. This collaboration will be a step further in BHEL's contribution to the 'National Green Hydrogen Mission' and the government's 'Make in India' initiative. Key Features of the Mixed-Matrix Membrane Diaphragm Technology The Mixed-Matrix Membrane Diaphragm Technology developed by BARC is an effective replacement of asbestos diaphragm material used in Electrolyser systems. This diaphragm will also serve as a low-cost import substitute for Zirfon, which is commonly used in water electrolysers. The acquisition of this technology from BARC will help BHEL to achieve complete indigenous development of alkaline electrolyser systems. Significance for National Green Hydrogen Mission and Make in India The announcement came after market hours on Wednesday, with BHEL shares settling 1.83% higher at Rs 225.95. The stock has climbed 15.69% in the past month, outperforming the broader market. Technically, the scrip traded higher than its short-term moving averages but lower than the long-term ones, indicating a mixed trend. The company's P/E ratio stands at 159.12, with an EPS of 1.42 and RoE of 2.01. BHEL, one of the largest engineering and manufacturing companies in India, is expected to play a crucial role in the government's push for green hydrogen production and self-reliance in the sector. Note : make sure to follow risk management and position sizing at all times