BHEL's procurements through GeM see quantum jump, Cross Rs.1,500 Crore in first half of Fiscal 2021-22

As part of Government of India's initiative towards enhanced transparency and ease of doing business, BHEL has been spearheading procurement of goods and Services through the Government emarketplace (GeM) portal, which is a Unified Public Procurement Portal for goods and services.

The company's procurement through GeM has crossed Rs. 1,500 Crore in the first six months of the current fiscal, as against Rs.389 Crore in the entire 2020-21. Major procurements through GeM portal include Steel, Cement, Cables, various sub-assemblies, etc. The company was also ranked No. 1 among top 20 PSUs for procurements from this portal during the first quarter of current year. Significantly, BHEL is not only procuring goods and services through Gel, but is also registered as a 'Seller' for various products on the platform and is receiving orders from the same.

By driving procurements through GeM, the company is ensuring transparency and compliance with various Gol directives like General Financial Rules, CVC guidelines, Public Procurement Policy - Make in India, MSE, Startups, etc, thereby increasing ease and efficiency of procurement. These steps are also aimed at the nation's efforts towards an AtmaNirbhar Bharat.

Notably, the company is streamlining its procurement processes using data analytics, and ensuring substantial cost savings by scaling up procurement through GeM. The goal is to utilize data analytics through a single dashboard by every concerned BHEL employee.

This successful transition has been made possible through the collaborative efforts between GeM and BHEL and the company is now utilizing this platform to further drive systemic changes for procurement within the organization.

Shares of Bharat Heavy Electricals Ltd., was last trading in BSE at Rs. 60.55 as compared to the previous close of Rs. 56.9. The total number of shares traded during the day was 7040444 in over 15100 trades.

The stock hit an intraday high of Rs. 60.95 and intraday low of 56.85. The net turnover during the day was Rs. 419521115.

Source : Equity Bulls

Keywords