Bharat Heavy Electricals Limited Share Price & Analysis
Price Chart
Fundamentals
Strengths
- ✓Low debt relative to equity (D/E 0.3x)
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| HAL Hindustan Aeronautics Limited | ₹4,568 | ₹3.0L Cr | 33 | 7.44 | 24 | 32 | 0 |
| BEL Bharat Electronics Limited | ₹407 | ₹3.0L Cr | 49.4 | 12.41 | 27.6 | 36.5 | 0 |
| ABB ABB India Limited | ₹7,530 | ₹1.6L Cr | 104 | 20.35 | 22.4 | 29.9 | 0.01 |
| TMCV Tata Motors Limited | ₹405 -1.53% | ₹1.5L Cr | 38.6 | 10.71 | 34 | 35.9 | 0.44 |
| CUMMINSIND Cummins India Limited | ₹5,590 | ₹1.5L Cr | 62.3 | 18.27 | 30.2 | 39.5 | 0 |
| CGPOWER CG Power and Industrial Solutions Limited | ₹912 | ₹1.4L Cr | 118 | 18.02 | 20.5 | 26.7 | 0.02 |
| POLYCAB Polycab India Limited | ₹9,073 | ₹1.3L Cr | 46.6 | 11.37 | 23 | 33.2 | 0.02 |
Showing 7 peers in the same sector · Sorted by market cap
Shareholding Pattern
BHEL · as of Mar 2026
| Category | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoters | 63.17% | 63.17% | 63.17% | 63.17% | 63.17% | 63.17% |
| FII | 7.04% | 8.76% | 9.10% | 9.48% | 7.98% | 7.19% |
| DII | 17.58% | 15.95% | 15.03% | 14.69% | 15.49% | 16.34% |
| Public | 12.23% | 12.14% | 12.71% | 12.66% | 13.36% | 13.29% |
Corporate Events
Dividend - Rs 1.40 Per Share
To consider and approve the financial results for the period ended Jun 30, 2026
To consider dividend
To consider and approve the financial results for the period ended March 31, 2026
Dividend - Re 0.50 Per Share
Dividend - Rs 0.25 Per Share
Dividend - Re 0.40 Per Share
Latest News
All news →BHEL receives credit rating update
*BHEL receives credit rating update* as per a recent NSE corporate filing. The rating action reflects ongoing assessment of the company’s financial health and debt obligations. No immediate trigger for price movement is evident. 📊 *STOCKS:* BHEL | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #CreditRating
BHEL receives credit rating update
*BHEL receives credit rating update* with a stable outlook. The rating reflects BHEL's strong order book and government backing. Financials remain steady with **debt-to-equity of 0.3x** and **interest coverage at 4.2x**. 📊 *STOCKS:* BHEL | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #CreditRating
BHEL secures new orders worth ₹1,200 crore
*BHEL secures new orders worth **₹1,200 crore** in the power sector.* The contracts involve equipment supply and execution for thermal and hydro projects. This strengthens BHEL’s order book amid ongoing revival efforts. 📊 *STOCKS:* BHEL | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #orders
BHEL to hold shareholder meeting on August 5, 2026
*BHEL to hold shareholder meeting on August 5, 2026*. The event is a routine corporate disclosure with no immediate financial implications. Shareholders will gather for updates, likely on operational or governance matters. No major announcements expected ahead of the meeting. 📊 *STOCKS:* BHEL | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #ShareholderMeeting
BHEL sets dividend record date for July 2026
*BHEL sets dividend record date for July 2026.* Bharat Heavy Electricals Limited has announced **17-Jul-2026** as the record date for dividend distribution. Shareholders registered on this date will be eligible for the payout. The quantum and payment date will be disclosed in due course. 📊 *STOCKS:* BHEL | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #Dividend
BHEL announces AGM date and dividend record date
*BHEL announces AGM date and dividend record date.* The company has informed the exchange about the date of its Annual General Meeting and the record date for the final dividend for FY 2025-26. **No financial figures** or strategic updates were disclosed. The move is a routine corporate announcement. 📊 *STOCKS:* BHEL | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #Dividend
BHEL wins **₹2,000 crore** order from Nigerian firm
*BHEL wins **₹2,000 crore** order from Nigerian firm.* This overseas order strengthens BHEL’s order book and enhances revenue visibility. The contract marks a significant international win amid global competition. Such deals could boost investor sentiment around domestic engineering firms. 📊 *STOCKS:* BHEL | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #order
BHEL wins Letter of Award from Steel Authority India
*BHEL receives LoA from Steel Authority of India.* BHEL has secured a Letter of Award from SAIL, marking a significant order win for the power equipment manufacturer. The contract details are expected to strengthen BHEL's order book and support revenue visibility. This order underscores continued demand for BHEL's engineering solutions in India's steel sector. 📊 *STOCKS:* $BHEL | 🏢 *SECTOR:* Energy | #MEDIUMIMPACT #OrderWin
Promoters of 5 stocks increase pledge up to 20%
*Promoters of 5 stocks increase pledge up to 20%* to add to your watchlist. A rise in promoter pledge up to **20%** signals potential financial stress or personal funding needs, often viewed as a red flag. While not immediate risk, elevated pledging may impact sentiment and stock stability. Monitor these stocks closely for downside volatility. 📊 *STOCKS:* SUNPHARMA, TATACONSUM, BHEL, NHPC, COALINDIA | 🏢 *SECTOR:* Risk | #LOWIMPACT #promoter_pledge
Financials
Quarterly Results
| Metric | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹8.5K Cr ▲12.8% | ₹7.5K Cr ▲36.9% | ₹5.5K Cr ▼39.0% | ₹9.0K Cr ▲23.6% | ₹7.3K Cr ▲10.5% | ₹6.6K Cr ▲20.0% | ₹5.5K Cr ▼33.6% | ₹8.3K Cr |
| Op. Profit | ₹545 Cr ▼6.2% | ₹581 Cr ▲208.2% | ₹-537 Cr ▼164.5% | ₹832 Cr ▲173.7% | ₹304 Cr ▲10.5% | ₹275 Cr ▲262.7% | ₹-169 Cr ▼123.2% | ₹728 Cr |
| OPM | 6.0% ▼25.0% | 8.0% ▲180.0% | -10.0% ▼211.1% | 9.0% ▲125.0% | 4.0% ▲0.0% | 4.0% ▲233.3% | -3.0% ▼133.3% | 9.0% |
| Net Profit | ₹390 Cr ▲4.0% | ₹375 Cr ▲182.2% | ₹-456 Cr ▼190.5% | ₹504 Cr ▲273.3% | ₹135 Cr ▲27.4% | ₹106 Cr ▲150.2% | ₹-211 Cr ▼143.1% | ₹490 Cr |
| EPS (₹) | 1.12 ▲3.7% | 1.08 ▲182.4% | -1.31 ▼190.3% | 1.45 ▲271.8% | 0.39 ▲30.0% | 0.3 ▲149.2% | -0.61 ▼143.3% | 1.41 |
Values in ₹ Cr · Source: Screener.in
Annual Profit & Loss
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹33.8K Cr ▲19.2% | ₹28.3K Cr ▲18.6% | ₹23.9K Cr ▲2.3% | ₹23.4K Cr ▲10.2% | ₹21.2K Cr ▲22.5% | ₹17.3K Cr ▼19.4% | ₹21.5K Cr ▼29.5% | ₹30.4K Cr ▲5.6% | ₹28.8K Cr ▲1.3% | ₹28.5K Cr |
| Expenses | ₹31.2K Cr ▲15.9% | ₹26.9K Cr ▲16.2% | ₹23.2K Cr ▲3.9% | ₹22.3K Cr ▲9.5% | ₹20.4K Cr ▲0.1% | ₹20.4K Cr ▼5.7% | ₹21.6K Cr ▼24.0% | ₹28.4K Cr ▲4.5% | ₹27.2K Cr ▼0.7% | ₹27.4K Cr |
| Op. Profit | ₹2.6K Cr ▲83.8% | ₹1.4K Cr ▲96.8% | ₹711 Cr ▼31.9% | ₹1.0K Cr ▲26.1% | ₹828 Cr ▲127.2% | ₹-3.0K Cr ▼2192.5% | ₹-133 Cr ▼106.5% | ₹2.0K Cr ▲22.9% | ₹1.7K Cr ▲51.0% | ₹1.1K Cr |
| OPM | 8.0% ▲60.0% | 5.0% ▲66.7% | 3.0% ▼25.0% | 4.0% ▲0.0% | 4.0% ▲122.2% | -18.0% ▼1700.0% | -1.0% ▼114.3% | 7.0% ▲16.7% | 6.0% ▲50.0% | 4.0% |
| Other Income | ₹869 Cr ▲65.8% | ₹524 Cr ▼13.8% | ₹608 Cr ▲11.8% | ₹544 Cr ▲34.3% | ₹405 Cr ▲3.1% | ₹393 Cr ▼33.4% | ₹590 Cr ▼10.9% | ₹662 Cr ▼2.5% | ₹679 Cr ▼9.8% | ₹753 Cr |
| Interest | ₹986 Cr ▲8.8% | ₹906 Cr ▲9.4% | ₹828 Cr ▲35.3% | ₹612 Cr ▲36.6% | ₹448 Cr ▼4.1% | ₹467 Cr ▼23.8% | ₹613 Cr ▲62.2% | ₹378 Cr ▲14.5% | ₹330 Cr ▼20.1% | ₹413 Cr |
| Depreciation | ₹316 Cr ▲16.2% | ₹272 Cr ▲9.2% | ₹249 Cr ▼4.2% | ₹260 Cr ▼17.2% | ₹314 Cr ▼33.6% | ₹473 Cr ▼6.0% | ₹503 Cr ▲5.7% | ₹476 Cr ▼39.5% | ₹787 Cr ▼7.4% | ₹850 Cr |
| PBT | ₹2.1K Cr ▲186.7% | ₹746 Cr ▲207.0% | ₹243 Cr ▼66.1% | ₹716 Cr ▲52.3% | ₹470 Cr ▲113.1% | ₹-3.6K Cr ▼445.7% | ₹-659 Cr ▼135.8% | ₹1.8K Cr ▲51.4% | ₹1.2K Cr ▲107.3% | ₹586 Cr |
| Tax % | 25.0% ▼10.7% | 28.0% ▲275.0% | -16.0% ▼277.8% | 9.0% ▲80.0% | 5.0% ▲120.0% | -25.0% ▼120.3% | 123.0% ▲167.4% | 46.0% ▼28.1% | 64.0% ▲190.9% | 22.0% |
| Net Profit | ₹1.6K Cr ▲199.6% | ₹534 Cr ▲89.4% | ₹282 Cr ▼56.9% | ₹654 Cr ▲47.0% | ₹445 Cr ▲116.5% | ₹-2.7K Cr ▼83.9% | ₹-1.5K Cr ▼246.5% | ₹1.0K Cr ▲128.8% | ₹438 Cr ▼3.7% | ₹455 Cr |
| EPS (₹) | 4.6 ▲200.7% | 1.53 ▲88.9% | 0.81 ▼56.9% | 1.88 ▲46.9% | 1.28 ▲116.5% | -7.75 ▼84.1% | -4.21 ▼245.7% | 2.89 ▲140.8% | 1.2 ▼4.0% | 1.25 |
| Div Payout | 30.0% ▼9.1% | 33.0% ▲6.5% | 31.0% ▲47.6% | 21.0% ▼32.3% | 31.0% | 0.0% | 0.0% ▼100.0% | 69.0% ▼54.3% | 151.0% ▲77.6% | 85.0% |
Values in ₹ Cr · Source: Screener.in
Balance Sheet
| Item | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Liabilities | ||||||||||
| Equity Capital | ₹696 Cr ▲0.0% | ₹696 Cr ▲0.0% | ₹696 Cr ▲0.0% | ₹696 Cr ▲0.0% | ₹696 Cr ▲0.0% | ₹696 Cr ▲0.0% | ₹696 Cr ▲0.0% | ₹696 Cr ▼5.2% | ₹734 Cr ▲49.8% | ₹490 Cr |
| Reserves | ₹23.7K Cr ▼1.3% | ₹24.0K Cr ▲1.2% | ₹23.7K Cr ▲0.3% | ₹23.7K Cr ▼8.2% | ₹25.8K Cr ▲2.1% | ₹25.3K Cr ▼9.6% | ₹28.0K Cr ▼7.4% | ₹30.2K Cr ▼4.4% | ₹31.6K Cr ▼0.9% | ₹31.9K Cr |
| Borrowings | ₹11.0K Cr ▲21.7% | ₹9.0K Cr ▲1.8% | ₹8.9K Cr ▲62.4% | ₹5.5K Cr ▲12.9% | ₹4.8K Cr ▼2.4% | ₹5.0K Cr ▼2.5% | ₹5.1K Cr ▲95.5% | ₹2.6K Cr ▲2261.8% | ₹110 Cr ▼29.5% | ₹156 Cr |
| Other Liabilities | ₹36.6K Cr ▲4.2% | ₹35.1K Cr ▲32.6% | ₹26.5K Cr ▼4.8% | ₹27.8K Cr ▲8.5% | ₹25.7K Cr ▲2.5% | ₹25.0K Cr ▼5.7% | ₹26.6K Cr ▼14.3% | ₹31.0K Cr ▼1.6% | ₹31.5K Cr ▲8.0% | ₹29.2K Cr |
| Total Liabilities | ₹72.0K Cr ▲4.5% | ₹68.8K Cr ▲15.2% | ₹59.8K Cr ▲3.7% | ₹57.7K Cr ▲1.2% | ₹57.0K Cr ▲1.8% | ₹56.0K Cr ▼7.2% | ₹60.3K Cr ▼6.5% | ₹64.5K Cr ▲0.9% | ₹63.9K Cr ▲3.6% | ₹61.7K Cr |
| Assets | ||||||||||
| Fixed Assets | ₹3.0K Cr ▲0.4% | ₹2.9K Cr ▲14.5% | ₹2.6K Cr ▲4.0% | ₹2.5K Cr ▲3.3% | ₹2.4K Cr ▼3.7% | ₹2.5K Cr ▼11.6% | ₹2.8K Cr ▼5.2% | ₹3.0K Cr ▼3.4% | ₹3.1K Cr ▼14.7% | ₹3.6K Cr |
| CWIP | ₹275 Cr ▲41.0% | ₹195 Cr ▼36.7% | ₹308 Cr ▼13.0% | ₹354 Cr ▼17.9% | ₹431 Cr ▲2.6% | ₹420 Cr ▲33.8% | ₹314 Cr ▲33.6% | ₹235 Cr ▲15.8% | ₹203 Cr ▲20.8% | ₹168 Cr |
| Investments | ₹282 Cr ▲2.2% | ₹276 Cr ▲7.8% | ₹256 Cr ▲8.9% | ₹235 Cr ▲14.6% | ₹205 Cr ▲10.8% | ₹185 Cr ▲14.2% | ₹162 Cr ▲6.6% | ₹152 Cr ▼64.6% | ₹429 Cr ▼43.3% | ₹757 Cr |
| Other Assets | ₹68.5K Cr ▲4.6% | ₹65.4K Cr ▲15.5% | ₹56.6K Cr ▲3.7% | ₹54.6K Cr ▲1.2% | ₹54.0K Cr ▲2.1% | ₹52.9K Cr ▼7.3% | ₹57.0K Cr ▼6.8% | ₹61.1K Cr ▲1.5% | ₹60.2K Cr ▲5.4% | ₹57.2K Cr |
| Total Assets | ₹72.0K Cr ▲4.5% | ₹68.8K Cr ▲15.2% | ₹59.8K Cr ▲3.7% | ₹57.7K Cr ▲1.2% | ₹57.0K Cr ▲1.8% | ₹56.0K Cr ▼7.2% | ₹60.3K Cr ▼6.5% | ₹64.5K Cr ▲0.9% | ₹63.9K Cr ▲3.6% | ₹61.7K Cr |
Values in ₹ Cr · Source: Screener.in
Cash Flow Statement
| Item | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating CF | ₹2.2K Cr ▲159.0% | ₹-3.7K Cr ▼401.1% | ₹-741 Cr ▼212.3% | ₹660 Cr ▲17.9% | ₹560 Cr ▲119.4% | ₹-2.9K Cr ▲25.1% | ₹-3.9K Cr ▼490.3% | ₹989 Cr ▲76.6% | ₹560 Cr ▲49.7% | ₹374 Cr |
| Investing CF | ₹-2.7K Cr ▼305.2% | ₹1.3K Cr ▼10.1% | ₹1.5K Cr ▲232.4% | ₹-1.1K Cr ▼2561.9% | ₹-42 Cr ▼102.2% | ₹1.9K Cr ▼2.2% | ₹1.9K Cr ▲99.7% | ₹961 Cr ▲270.1% | ₹-565 Cr ▼2556.5% | ₹23 Cr |
| Financing CF | ₹-857 Cr ▼132.3% | ₹2.7K Cr ▲2884.3% | ₹89 Cr ▲127.1% | ₹-329 Cr ▲16.5% | ₹-394 Cr ▼124.3% | ₹1.6K Cr ▲5168.8% | ₹-32 Cr ▲95.2% | ₹-667 Cr ▼42.5% | ₹-468 Cr ▼283.6% | ₹-122 Cr |
| Net Cash Flow | ₹-1.4K Cr ▼609.5% | ₹274 Cr ▼66.9% | ₹829 Cr ▲205.3% | ₹-787 Cr ▼739.8% | ₹123 Cr ▼79.8% | ₹608 Cr ▲130.8% | ₹-2.0K Cr ▼253.8% | ₹1.3K Cr ▲371.2% | ₹-473 Cr ▼272.0% | ₹275 Cr |
| Free Cash Flow | ₹1.9K Cr ▲148.3% | ₹-3.9K Cr ▼327.4% | ₹-921 Cr ▼284.9% | ₹498 Cr ▲60.1% | ₹311 Cr ▲109.5% | ₹-3.3K Cr ▲23.5% | ₹-4.3K Cr ▼695.8% | ₹719 Cr ▲216.7% | ₹227 Cr ▲227.5% | ₹-178 Cr |
Values in ₹ Cr · Source: Screener.in
Key Ratios History
| Metric | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 76d ▲4.1% | 73d ▲49.0% | 49d ▼5.8% | 52d ▼38.8% | 85d ▼29.8% | 121d ▼14.8% | 142d ▼20.2% | 178d ▼37.1% | 283d ▼11.8% | 321d |
| Inventory Days | 289d ▲14.2% | 253d ▼3.1% | 261d ▼4.7% | 274d ▼17.7% | 333d ▲3.7% | 321d ▲47.2% | 218d ▲14.1% | 191d ▼4.5% | 200d ▼26.5% | 272d |
| Days Payable | 259d ▼4.1% | 270d ▼21.7% | 345d ▲18.6% | 291d ▲3.6% | 281d ▼6.3% | 300d ▲1.0% | 297d ▼1.3% | 301d ▲33.8% | 225d ▼6.3% | 240d |
| Cash Conv. Cycle | 106d ▲89.3% | 56d ▲260.0% | -35d ▼200.0% | 35d ▼74.5% | 137d ▼3.5% | 142d ▲125.4% | 63d ▼7.4% | 68d ▼73.6% | 258d ▼26.9% | 353d |
| Working Capital Days | 99d ▲65.0% | 60d ▲1300.0% | -5d ▼600.0% | 1d ▼97.6% | 42d ▼41.7% | 72d ▼28.0% | 100d ▼17.4% | 121d ▼25.3% | 162d ▼22.1% | 208d |
| ROCE | 5.0% ▲66.7% | 3.0% ▼25.0% | 4.0% ▲33.3% | 3.0% ▲130.0% | -10.0% | 0.0% ▼100.0% | 7.0% ▲40.0% | 5.0% ▲66.7% | 3.0% ▲250.0% | -2.0% |
Source: Screener.in · Lower days = better efficiency
Deep Dive Analysis
About Bharat Heavy Electricals Limited
Bharat Heavy Electricals Ltd is an integrated power plant equipment manufacturer engaged in design, engineering, manufacture, erection, testing, commissioning and servicing of a wide range of products and services for the core sectors of the economy, viz. Power, transmission, Industry, transportation, renewable energy, Oil & Gas and defence.[1] It is the flagship engineering and manufacturing company of India owned and controlled by the Govt. of India.[2]
Capital Goods · Electrical Equipment