Bharat Heavy Electricals Limited

Bharat Heavy Electricals Limited

398.90
INR
-11.30
(-2.75%)
4.60EPS
90.01P/E
1.44TMarket Cap
Feb 04Next Earn
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
106.69
82.82
69.51
75.22
76.2
81.12
58.86
46.8
57.88
63.57
65.82
78.56
92.93
97.54
Basic EPS, GAAP
9.54
3.96
-1.92
1.25
1.2
2.77
-4.21
-7.75
1.28
1.83
0.81
1.53
4.6
4.6
Free Cash Flow per Basic Share
7.92
1.35
-0.57
0.56
1.93
-11.81
-9.44
0.89
1.41
-2.67
-11.33
5.42
15.07
- -
Dividend per Share
3.64
1.67
0.5
0.8
1.32
2.17
1.45
- -
- -
0.4
0.4
0.25
0.5
- -
Book Value per Share
90.31
90.64
88.02
88.22
88.07
88.75
82.31
74.62
68.58
70.01
70.18
71
75.09
- -
Tangible Book Value per Share
89.8
90.16
87.62
87.91
87.8
88.48
82.06
74.4
68.38
69.79
69.93
70.66
74.63
- -
Basic Weighted Avg Shares
3,671
3,671
3,671
3,671
3,671
3,629
3,482
3,482
3,482
3,482
3,482
3,482
3,482
3,482
Sales/Revenue/Turnover
391,717
304,078
255,204
276,174
279,778
294,416
204,946
162,958
201,534
221,363
229,205
273,552
323,598
339,681
Operating Margin (%)
9.18
4.83
-8.91
0.6
1.51
4.68
-4.88
-23.55
2.09
0.44
0.78
2.95
4.95
5.72
Depreciation Expense
9,914
10,823
9,367
8,498
7,873
4,757
5,033
4,733
3,141
2,603
2,489
2,720
3,159
3,223
Net Income, GAAP
35,029
14,524
-7,041
4,573
4,412
10,051
-14,660
-26,971
4,460
6,374
2,822
5,339
16,003
16,021
Effective Tax Rate (%)
31.02
33.69
- -
22.27
63.93
45.51
- -
- -
- -
8.59
- -
28.39
25.17
25.38
Profit Margin (%)
8.94
4.78
-2.76
1.66
1.58
3.41
-7.15
-16.55
2.21
2.88
1.23
1.95
4.95
4.72
Working Capital
263,837
250,686
243,993
227,613
202,754
153,257
101,027
79,835
55,466
56,150
92,949
145,342
191,532
- -
LT Debt
19,614
610
1,263
896
572
955
754
534
351
338
236
1,624
1,682
- -
Total Equity
331,611
332,795
323,149
323,879
323,309
308,976
286,517
259,720
238,801
243,783
244,387
247,222
261,466
- -
Return on Invested Capital (%)
7.19
2.89
- -
1.54
0.99
3.09
- -
- -
- -
1.09
- -
2.25
4.19
- -
Return on Capital (%)
10.07
4.25
- -
1.56
1.65
3.53
- -
- -
- -
3.75
- -
3.19
6.36
- -
Return on Common Equity (%)
11
4.37
-2.15
1.41
1.36
3.18
-4.92
-9.87
1.79
2.64
1.16
2.17
6.29
- -

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
80,188
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
1,682
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
3,482
3,482
3,482
Market Capitalization
1,000,919
854,847
1,441,922

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
514,554
- -
Cash, Cash Equivalents & STI
- -
108,494
- -
Accounts Receivable, Net
- -
67,963
- -
Inventories
- -
133,346
- -
Total Current Liabilities
- -
323,022
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
80,188
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-1.98%
0.24%
5.76%
Free Cash Flow
-67.13%
24.81%
177.97%
Net Income, GAAP
-4.3%
31.91%
199.73%
Sales/Revenue/Turnover
3.86%
14.94%
18.3%
Total Cash Common Dividend
4,635.21%
9,260.01%
99.73%

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
54,849
65,841
72,771
89,934
273,552
2026
54,869
- -
84,731
123,104
323,598
2027
76,977
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
-0.61
0.3
0.39
1.45
1.53
2026
-1.31
- -
1.12
3.71
4.6
2027
1.08
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
0.25
2026
- -
- -
- -
- -
0.5
2027
- -
- -
- -
- -
- -

Company Description

CEO
Koppu Sadashiv Murthy
Full Time Employees
85,105
Sector
Producer manufacturing
Industry
Electrical products
Address
BHEL House New Delhi DE India 110049
IPO Date
Nov 3, 1994
Website
bhel.com
Business
Bharat Heavy Electricals Limited Bharat Heavy Electricals Limited (BHEL.NS) is an Indian central public sector undertaking and one of the largest engineering and manufacturing companies in the country, primarily engaged in the design, engineering, manufacturing, construction, testing, commissioning, and servicing of products and systems for power, transmission, transportation, renewables, defense, oil & gas, and industrial sectors; its core offerings include steam turbines, gas turbines, boilers, generators, hydro turbines and generators, nuclear power plant equipment such as reactor headers and steam generators, solar photovoltaic modules and systems, wind turbines, transformers up to 1200 kV, switchgear, circuit breakers, gas-insulated switchgear (GIS) up to 420 kV, HVDC terminals, traction propulsion equipment and motors for locomotives, EMUs and metro systems, railway electrification systems, defense products like super rapid gun mounts and integrated platform management systems for ships, industrial compressors, valves, heat exchangers, desalination plants, and engineering procurement construction (EPC) services for power plants, substations and transmission lines; the company also provides renovation, modernization and after-market services for existing power equipment. Founded in 1964 and headquartered in New Delhi, India, BHEL operates 16 manufacturing divisions across the country including key facilities at Haridwar, Bhopal, Hyderabad, Tiruchirappalli and Bengaluru, alongside four regional offices, nine service centers, 15 marketing centers and dedicated R&D at Hyderabad supporting over 180 product groups with global references in more than 90 countries across all continents. In recent developments, BHEL signed a 10-year exclusive MoU with Singapore's Horizon Fuel Cell Technologies for hydrogen fuel cell-based rolling stock in India, entered a collaboration with Oil & Natural Gas Corporation (ONGC) for new and renewable energy projects including fuel cells, electrolysers and battery storage under India's National Green Hydrogen Mission, secured a Rs 2,600 crore letter of intent from MB Power for boiler, turbine, generator and auxiliaries for an 800 MW thermal project in Anuppur, inked a contract for the ±800 kV 6000 MW Bhadla-Fatehpur HVDC terminal station, partnered with HIMA Middle East for railway signaling, with IICT for carbon dioxide conversion technology, with Adani Power and NTPC for power projects, formed a proposed joint venture with REC Power Development for renewables and infrastructure despite pending approvals, collaborated with NPCIL for PHWR nuclear opportunities, with Leonardo for air defense guns and Nuovo Pignone for fertilizer compressor revamps, and received an order for methanol firing demonstration in NTPC's gas turbine.