BHEL inks pact with Nuovo Pignone International for opportunities in Indian fertiliser sector

Bharat Heavy Electricals Ltd (BHEL) on Wednesday, April 9, signed a memorandum of understanding (MoU) with Nuovo Pignone International.

The MoU was signed to address compressor revamp opportunities in the Indian fertilizer sector, BHEL said in a regulatory filing.

The 10-years-long deal is a strategic tie-up for business sharing with Nuovo Pignone International, the PSU added.

“BHEL shall be the Main (Lead) bidder to the identified customers for addressing the Compressors train revamp business opportunities in the Fertiliser sector in India and M/s Nuovo Pignone International s.r.l. will be nominated vendor to BHEL through the subject MoU with definite scope of work,” it further said.

After the strategic tie-up, BHEL will have a business share of approximately 50% in financial terms. The company is also expected to improve in the fertisliser research and manufacturing (R&M) business.

There was no upfront consideration involved in inking the pact, as the respective parties will be responsible for their identified scope of work.

The tie-up, effective April 9, will be valid for a decade or until both parties “consent to continue, whichever is earlier,” the filing stated.

BHEL share performance

Shares of BHEL closed at ₹211.81 apiece, rising 0.41% on the National Stock Exchange (NSE) on Wednesday.

The stock gained 1.23% over the week but lost 2.13% month-to-date. The scrip was down 7.67% since the beginning of the year.

The PSU share hit a 52-week low of ₹176 on March 3, 2025, and a high of ₹335.35 on July 9, 2024.

Bharat Heavy Electricals Ltd has a total market capitalisation of ₹73,802.33 crore as of April 9, 2025, on the NSE.