Bharat Heavy Electricals Ltd
Bharat Heavy Electricals Ltd (BHEL) last reported results for the quarter ended Jun 2026, with sales of ₹7,698 crore and net profit of ₹377 crore. The stock last traded at ₹434, a market capitalisation of ₹1,50,667 crore, on a P/E of 61.9. Over the past 52 weeks the stock has ranged between ₹230 and ₹456. Figures are as of 9 Oct 2026 and are not real time.
Bharat Heavy Electricals Ltd share price and key metrics
- Current price
- ₹434
- Market cap
- ₹1,50,667 cr
- Stock P/E
- 61.9
- Book value
- ₹75.1
- ROE
- 6.23%
- ROCE
- 9.14%
- Dividend yield
- 0.32%
- 52w high / low
- 456/230
Metrics as of 9 Oct 2026. Not real time.
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Bharat Heavy Electricals Ltd growth and returns
- 10 Years
- 3%
- 5 Years
- 14%
- 3 Years
- 13%
- TTM
- 27%
- 10 Years
- 16%
- 5 Years
- 21%
- 3 Years
- 36%
- TTM
- 739%
- 10 Years
- 17%
- 5 Years
- 46%
- 3 Years
- 49%
- 1 Year
- 81%
- 10 Years
- 0%
- 5 Years
- 3%
- 3 Years
- 3%
- Last Year
- 6%
Bharat Heavy Electricals Ltd quarterly results
In the quarter ended Jun 2026, sales were ₹7,698 cr, up 40.3% from ₹5,487 cr a year earlier. Net profit turned positive at ₹377 cr.
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 6,584 | 7,277 | 8,993 | 5,487 | 7,512 | 8,473 | 12,310 | 7,698 |
| Expenses | 6,309 | 6,973 | 8,162 | 6,024 | 6,931 | 7,928 | 10,557 | 7,194 |
| Operating profit | 275 | 304 | 832 | -537 | 581 | 545 | 1,753 | 504 |
| OPM % | 4.2% | 4.2% | 9% | -10% | 8% | 6% | 14% | 7% |
| Other income | 128 | 126 | 159 | 185 | 189 | 235 | 260 | 226 |
| Interest | 201 | 184 | 201 | 181 | 195 | 182 | 198 | 140 |
| Depreciation | 60 | 68 | 85 | 75 | 75 | 78 | 88 | 82 |
| Profit before tax | 141 | 179 | 704 | -608 | 499 | 520 | 1,728 | 508 |
| Tax % | 25% | 25% | 28% | -25% | 25% | 25% | 25% | 26% |
| Net profit | 106 | 135 | 504 | -456 | 375 | 390 | 1,290 | 377 |
| EPS (₹) | 0.30 | 0.39 | 1.45 | -1.31 | 1.08 | 1.12 | 3.71 | 1.08 |
Consolidated figures as reported by the company. Percentages are as published; totals may not sum exactly.
Bharat Heavy Electricals Ltd annual results
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 28,465 | 28,827 | 30,441 | 21,463 | 17,309 | 21,211 | 23,365 | 23,893 | 28,339 | 33,782 | 35,993 |
| Operating profit | 1,095 | 1,653 | 2,032 | -133 | -3,049 | 828 | 1,044 | 711 | 1,399 | 2,572 | 3,383 |
| OPM % | 3.9% | 6% | 7% | -0.6% | -18% | 3.9% | 4.5% | 3.0% | 4.9% | 8% | 9% |
| Net profit | 455 | 438 | 1,002 | -1,468 | -2,700 | 445 | 654 | 282 | 534 | 1,600 | 2,432 |
| EPS (₹) | 1.25 | 1.20 | 2.89 | -4.21 | -7.75 | 1.28 | 1.88 | 0.81 | 1.53 | 4.60 | 6.99 |
TTM is the trailing twelve months to the most recent quarter.
Bharat Heavy Electricals Ltd balance sheet
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 490 | 734 | 696 | 696 | 696 | 696 | 696 | 696 | 696 | 696 |
| Reserves | 31,899 | 31,601 | 30,208 | 27,964 | 25,287 | 25,810 | 23,682 | 23,742 | 24,026 | 25,450 |
| Borrowings | 156 | 110 | 2,598 | 5,080 | 4,951 | 4,830 | 5,454 | 8,856 | 9,015 | 8,187 |
| Other liabilities | 29,153 | 31,495 | 30,987 | 26,550 | 25,025 | 25,654 | 27,832 | 26,489 | 35,112 | 42,554 |
| Total liabilities | 61,698 | 63,940 | 64,490 | 60,291 | 55,960 | 56,991 | 57,664 | 59,784 | 68,849 | 76,888 |
| Fixed assets | 3,601 | 3,073 | 2,970 | 2,817 | 2,491 | 2,398 | 2,476 | 2,574 | 2,947 | 2,999 |
| CWIP | 168 | 203 | 235 | 314 | 420 | 431 | 354 | 308 | 195 | 495 |
| Investments | 757 | 429 | 152 | 162 | 185 | 205 | 235 | 256 | 276 | 302 |
| Other assets | 57,171 | 60,235 | 61,132 | 56,998 | 52,864 | 53,956 | 54,599 | 56,646 | 65,431 | 73,092 |
| Total assets | 61,698 | 63,940 | 64,490 | 60,291 | 55,960 | 56,991 | 57,664 | 59,784 | 68,849 | 76,888 |
As reported by the company. Total assets equal total liabilities by construction.
Bharat Heavy Electricals Ltd cash flow
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | 560 | 989 | -3,860 | -2,892 | 560 | 660 | -741 | -3,713 | 2,192 | 5,837 |
| Cash from investing | -565 | 961 | 1,919 | 1,877 | -42 | -1,118 | 1,480 | 1,331 | -2,731 | -3,035 |
| Cash from financing | -468 | -667 | -32 | 1,622 | -394 | -329 | 89 | 2,656 | -857 | -1,806 |
| Net cash flow | -473 | 1,283 | -1,973 | 608 | 123 | -787 | 829 | 274 | -1,396 | 996 |
| Free cash flow | 227 | 719 | -4,284 | -3,276 | 311 | 498 | -921 | -3,936 | 1,902 | 5,261 |
| CFO / operating profit | 105% | 57% | -169% | 1,930% | -25% | 30% | -82% | -554% | 151% | 227% |
Negative figures are outflows. CFO / operating profit is a ratio, not an amount.
Bharat Heavy Electricals Ltd operating ratios
| Per year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 3% | 5% | 7% | -0% | -10% | 3% | 4% | 3% | 5% | 9% |
| Debtor days | 283 | 178 | 142 | 121 | 85 | 52 | 49 | 73 | 76 | 73 |
| Inventory days | 200 | 191 | 218 | 321 | 333 | 274 | 261 | 253 | 289 | 309 |
| Days payable | 225 | 301 | 297 | 300 | 281 | 291 | 345 | 270 | 259 | 231 |
| Cash conversion cycle | 258 | 68 | 63 | 142 | 137 | 35 | -35 | 56 | 106 | 151 |
| Working capital days | 162 | 121 | 100 | 72 | 42 | 1 | -5 | 60 | 99 | 86 |
Ratios as computed by the source from the reported statements. Rows a company does not report are omitted.
Bharat Heavy Electricals Ltd shareholding pattern
Promoters held 58.17% at Jun 2026, down from 63.17% at Jun 2025. FIIs 9.52% and DIIs 22.35%.
| % held | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 63.17% | 63.17% | 63.17% | 63.17% | 63.17% | 63.17% | 58.17% | 58.17% |
| FIIs | 9.48% | 7.98% | 7.19% | 6.36% | 6.23% | 6.28% | 7.23% | 9.52% |
| DIIs | 14.69% | 15.49% | 16.34% | 18.45% | 18.62% | 19.70% | 23.93% | 22.35% |
| Government | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.06% | 0.07% |
| Public | 12.66% | 13.36% | 13.29% | 12.02% | 11.98% | 10.85% | 10.63% | 9.88% |
| No. of shareholders | 19,95,266 | 20,83,026 | 21,20,567 | 19,83,215 | 19,61,664 | 17,91,831 | 17,55,262 | 16,28,020 |
As disclosed by the company to the exchanges. The last row is a count of shareholders, not a percentage.
Bharat Heavy Electricals Ltd corporate filings
- Certificate under Reg 74(5) of SEBI (DP) Regulations for quarter ended on 30.09.2026Company Updatelow impact
- Bharat Heavy Electricals Ltd publishes newspaper notice under Regulation 30 on October 5, 2026Company Updatelow impact
Cruxal's analysis: The company, with a market cap of approximately 1.47 lakh crore and current stock price…
Read the full analysis - Closure of Trading WindowInsider Trading / SASTlow impact
- Bharat Heavy Electricals Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 14/10/2026 ,inter alia, to consider and approve the Unaudited Financial ....Board Meetingmedium impact
- Bharat Heavy Electricals Limited (BHEL) Announces Senior Management Transition at HPVP UnitCompany Updatelow impact
Cruxal's analysis: Bharat Heavy Electricals Limited has announced a change in senior management following…
Read the full analysis - BHEL signs tripartite agreement for operational collaborationCompany Updatelow impact
Cruxal's analysis: Bharat Heavy Electricals Ltd (BHEL) has entered into a tripartite agreement as part of…
Read the full analysis - BHEL signs Joint Venture Agreement with Titagarh Rail Systems LimitedCompany Updatemedium impact
Cruxal's analysis: Bharat Heavy Electricals Ltd (BHEL) has entered into a Joint Venture agreement with…
Read the full analysis - Bharat Heavy Electricals Limited (BHEL) approves 65 crore equity infusion into joint venture NBPPLCompany Updatelow impact
Cruxal's analysis: Bharat Heavy Electricals Limited has announced a further equity investment of 65 crore in…
Read the full analysis - Bharat Heavy Electricals Limited (BHEL) Announces Appointment of Statutory and Branch Auditors for FY 2026-27Company Updatelow impact
Cruxal's analysis: Bharat Heavy Electricals Limited (BHEL) has formally notified the stock exchanges…
Read the full analysis - BHEL announces manufacturing unit visit for analysts and investorsCompany Updatelow impact
Cruxal's analysis: Bharat Heavy Electricals Ltd has issued an intimation regarding a scheduled visit by a…
Read the full analysis - BHEL receives regulatory fine disclosure under SEBI LODR Section 30Company Updatelow impact
Cruxal's analysis: Bharat Heavy Electricals Ltd (BHEL) has issued a disclosure regarding a fine imposed…
Read the full analysis - Bharat Heavy Electricals Limited (BHEL) announces superannuation of Senior ManagementCompany Updatelow impact
Cruxal's analysis: Bharat Heavy Electricals Limited has formally disclosed the superannuation of Shri Sumeet…
Read the full analysis - Life Insurance Corporation of India (LIC) reduces stake in Bharat Heavy Electricals Ltd (BHEL) by 2.007%Insider Trading / SASTmedium impact
Cruxal's analysis: Life Insurance Corporation of India has disclosed a reduction in its shareholding in…
Read the full analysis - BHEL signs Strategic Cooperation Agreement with Hystar AS for PEM Electrolyser technologyCompany Updatemedium impact
Cruxal's analysis: Bharat Heavy Electricals Ltd (BHEL) has entered into a Strategic Cooperation Agreement…
Read the full analysis - Bharat Heavy Electricals Limited (BHEL) Receives Credit Rating Upgrade to IND AA/Stable by India Ratings & ResearchCompany Updatehigh impact
Cruxal's analysis: Bharat Heavy Electricals Limited has received a credit rating upgrade from India Ratings…
Read the full analysis - BHEL Concludes 62nd AGM; Shareholders Approve Financial Statements, Dividend, and Board AppointmentsAGM/EGMlow impact
Cruxal's analysis: Bharat Heavy Electricals Limited (BHEL) has successfully concluded its 62nd Annual…
Read the full analysis - Bharat Heavy Electricals Ltd files routine newspaper publication under Regulation 30 of LODRCompany Updatelow impact
Cruxal's analysis: Bharat Heavy Electricals Ltd (BHEL) has submitted a copy of a newspaper publication…
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