Bharat Heavy Electricals Limited (BHEL) has disclosed to stock exchanges that a Commercial Court in Visakhapatnam has ordered the attachment of Rs. 55.84 crore lying in one of its bank accounts. The disclosure was made pursuant to Regulation 30(4) of the SEBI (LODR) Regulations, 2015, regarding ongoing litigations or disputes.

Court Order Details

The Commercial Court, Visakhapatnam issued the attachment order on February 20, 2026, in response to an execution petition filed by M/s Indwell Construction Pvt. Ltd. The order specifically targets funds held in BHEL's bank account at Visakhapatnam.

Company's Response

BHEL has indicated that it is actively examining the court order and formulating its legal strategy. The company stated it is taking appropriate legal steps to address the situation and protect its business interests.

The state-owned power equipment manufacturer emphasized that it plans to avail all remedies available under applicable law. This suggests the company may challenge the attachment order through higher courts or seek alternative legal recourse.

Regulatory Compliance

The disclosure was communicated to both BSE Limited and National Stock Exchange of India Ltd. on February 21, 2026, ensuring compliance with stock exchange notification requirements. The communication was signed by Sayed Salahuddin, Manager, Corporate Communication, BHEL, demonstrating proper corporate governance protocols in handling material disclosures.

Bharat Heavy Electricals Limited (BHEL) has secured a major infrastructure contract from Steel Authority of India Limited (SAIL), marking a significant milestone in the power generation sector. The Letter of Acceptance was received on 17th February 2026 for a captive power plant project valued between Rs 1200-1500 crore excluding GST.

Project Overview

The contract encompasses the captive power plant package for SAIL's 4.08 MTPA CS expansion at the IISCO Steel Plant in Burnpur. This comprehensive project involves multiple phases of execution on a turnkey basis, excluding civil work.

Scope of Work

The project scope covers a comprehensive range of services and deliverables:

• Design and engineering of the captive power plant
• Manufacturing and supply of equipment
• Transportation, unloading, and storage management
• Erection and commissioning services
• Performance guarantee testing

The turnkey nature of the contract positions BHEL as the single-point responsibility provider for the entire power plant package, demonstrating the company's integrated capabilities in power generation solutions.

Contract Details

The agreement represents a domestic contract awarded through a competitive global tender process. The 39-month execution timeline from the effective contract date provides a structured framework for project delivery. BHEL confirmed that this contract does not involve any related party transactions and that promoter groups have no interest in the awarding entity.

Strategic Significance

This contract reinforces BHEL's position in the captive power plant segment, particularly in supporting India's steel industry expansion. The project aligns with SAIL's capacity enhancement initiatives at the IISCO Steel Plant, contributing to the country's steel production capabilities. The significant contract value places this among BHEL's major order wins, strengthening its order book and revenue pipeline.