The well proven technology offered by BARC is indigenously developed and have high local material content.

BHEL through this collaboration with BARC intends to scale up Indigenous Alkaline Electrolyser Technology and commercialise it for application in sectors such as refineries, fertiliser, steel, transportation, etc.

State-run Bharat Heavy Electricals (BHEL) is engaged in design, engineering, construction, testing, commissioning and servicing of a wide range of products and services to the core sectors of economy. As of 31 March 2024, the Government of India held 63.17% stake in the company.

The company's net profit declined by 24.92% to Rs 484.36 in Q4 FY24 as compared with Rs 645.13 crore posted in Q4 FY23. Net sales rose 0.83% to Rs 7,883.88 crore in the quarter ended 31 March 2024 as compared to Rs 7,819.37 crore recorded in Q4 FY24.

The scrip rose 0.94% to currently trade at Rs 295.95 on the BSE.