Nifty
Sensex
:
:
23810.85
76917.85
370.05 (1.58%)
1225.07 (1.62%)

Engineering - Industrial Equipments

Rating :
75/99

BSE: 500103 | NSE: BHEL

400.00
03-Nov-2026
  • Open
  • High
  • Low
  • Previous Close
  •  396.3
  •  404.75
  •  392.1
  •  394.95
  • Volume
  • Traded Value (lacs)
  • 52 Week High
  • 52 Week Low
  •  8246143
  •  3298277602.55
  •  464
  •  239.17

Stock Summary

  • Market Cap(Crs)
  • Stock P:E
  • Face Value
  • 1,39,091.02
  • 48.32
  • 2
  • Enterprise Value(Crs)
  • Dividend Yield
  • Price:Book Value
  • 1,34,479.03
  • 0.35%
  • 5.20

Shareholding Pattern

  • Promoter
  • Corporate
  • Public
  • 58.17%
  • 0.47%
  • 8.25%
  • FII
  • DII
  • Others
  • 9.94%
  • 19.41%
  • 3.76%

Chart

Price | P:E | P:BV | EV:EBITDA | MCap:Sales | EPS

Revenue CAGR (%)

  • 10 Years
  • 5 Years
  • 3 Years
  • 1.72
  • 9.76
  • 12.24

EBITDA CAGR (%)

  • 10 Years
  • 5 Years
  • 3 Years
  • 2.77
  • 8.78
  • -2.92

PAT CAGR (%)

  • 10 Years
  • 5 Years
  • 3 Years
  • 13.35
  • 29.11
  • 78.32

P:E (Median)

  • 8 Years
  • 5 Years
  • 3 Years
  • 34.09
  • 62.87
  • 140.80

P:BV (Average)

  • 8 Years
  • 5 Years
  • 3 Years
  • 1.91
  • 2.68
  • 3.81

EV:EBITDA (Average)

  • 8 Years
  • 5 Years
  • 3 Years
  • 30.07
  • 47.73
  • 71.29

Earnings Forecasts:

(Updated: 31-10-2026)
Description
2026
2027
2028
2029
Adj EPS
4.6
10.5
15.46
19.21
P/E Ratio
86.96
38.10
25.87
20.82
Revenue
32359.8
42985.9
53160.5
61396.5
EBITDA
2342.19
4771.19
6648.41
8013.55
Net Income
1600.26
3471.8
4985.1
6440.84
ROA
2.22
4.91
5.86
6.42
P/B Ratio
5.33
4.83
4.27
3.73
ROE
6.29
13.7
17.01
18.33
FCFF
5208.9
6711.4
1083.1
3317.3
FCFF Yield
3.85
4.96
0.8
2.45
Net Debt
-3679.67
-7426.32
-10438.6
-13322.2
BVPS
75.09
82.9
93.68
107.15

Quarterly Results

Consolidated Figures in Rs. Crores /

Standalone
Description
Sep 26
Sep 25
Var%
Jun 26
Jun 25
Var%
Mar 26
Mar 25
Var%
Dec 25
Dec 24
Var%
Net Sales
9,300.35
7,511.80
23.81%
7,697.72
5,486.91
40.29%
12,310.37
8,993.37
36.88%
8,473.10
7,277.09
16.44%
Expenses
8,274.55
6,930.87
19.39%
7,193.86
6,024.05
19.42%
10,557.27
8,161.69
29.35%
7,927.80
6,972.85
13.70%
EBITDA
1,025.80
580.93
76.58%
503.86
-537.14
-
1,753.10
831.68
110.79%
545.30
304.24
79.23%
EBIDTM
11.03%
7.73%
6.55%
-9.79%
14.24%
9.25%
6.44%
4.18%
Other Income
252.66
174.61
44.70%
214.14
171.16
25.11%
243.13
149.27
62.88%
218.75
107.91
102.72%
Interest
124.77
195.21
-36.08%
139.88
181.21
-22.81%
197.52
201.43
-1.94%
182.47
183.78
-0.71%
Depreciation
83.08
75.46
10.10%
81.88
74.52
9.88%
87.90
85.02
3.39%
77.99
67.88
14.89%
PBT
1,070.61
484.87
120.80%
496.24
-621.71
-
1,710.81
694.50
146.34%
503.59
160.49
213.78%
Tax
268.13
124.34
115.64%
130.99
-152.54
-
437.12
199.97
118.59%
129.43
44.05
193.83%
PAT
802.48
360.53
122.58%
365.25
-469.17
-
1,273.69
494.53
157.56%
374.16
116.44
221.33%
PATM
8.63%
4.80%
4.74%
-8.55%
10.35%
5.50%
4.42%
1.60%
EPS
2.36
1.08
118.52%
1.08
-1.31
-
3.71
1.45
155.86%
1.12
0.39
187.18%

Annual Results

Consolidated Figures in Rs. Crores /

Standalone
Description
TTM
Mar 26
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Net Sales
37,781.54
33,782.18
28,339.48
23,892.78
23,364.94
21,211.09
17,308.69
21,463.14
30,441.38
28,827.48
28,477.03
Net Sales Growth
29.08%
19.21%
18.61%
2.26%
10.15%
22.55%
-19.36%
-29.49%
5.60%
1.23%
 
Cost Of Goods Sold
25,081.19
16,603.99
13,423.32
11,547.99
10,475.46
9,729.79
8,669.42
10,739.21
13,993.42
12,728.84
14,118.82
Gross Profit
12,700.35
17,178.19
14,916.16
12,344.79
12,889.48
11,481.30
8,639.27
10,723.93
16,447.96
16,098.64
14,358.21
GP Margin
33.62%
50.85%
52.63%
51.67%
55.17%
54.13%
49.91%
49.96%
54.03%
55.84%
50.42%
Total Expenditure
33,953.48
37,404.83
32,557.63
28,094.09
25,383.35
23,589.94
22,826.89
25,084.29
30,562.02
29,579.72
31,233.82
Power & Fuel Cost
-
523.60
511.08
475.59
510.50
435.58
353.76
486.35
537.32
503.99
494.87
% Of Sales
-
1.55%
1.80%
1.99%
2.18%
2.05%
2.04%
2.27%
1.77%
1.75%
1.74%
Employee Cost
-
6,467.62
5,923.42
5,628.84
5,700.63
5,519.05
5,378.15
5,431.65
5,509.25
6,075.55
5,402.71
% Of Sales
-
19.15%
20.90%
23.56%
24.40%
26.02%
31.07%
25.31%
18.10%
21.08%
18.97%
Manufacturing Exp.
-
7,046.90
5,997.28
5,765.03
6,279.55
5,492.89
3,656.85
3,932.84
5,123.73
4,445.60
4,139.97
% Of Sales
-
20.86%
21.16%
24.13%
26.88%
25.90%
21.13%
18.32%
16.83%
15.42%
14.54%
General & Admin Exp.
-
742.51
731.39
611.62
587.32
512.33
599.82
788.34
810.92
777.42
872.63
% Of Sales
-
2.20%
2.58%
2.56%
2.51%
2.42%
3.47%
3.67%
2.66%
2.70%
3.06%
Selling & Distn. Exp.
-
342.83
248.13
217.15
261.81
251.18
230.18
317.20
381.30
430.13
468.75
% Of Sales
-
1.01%
0.88%
0.91%
1.12%
1.18%
1.33%
1.48%
1.25%
1.49%
1.65%
Miscellaneous Exp.
-
5,677.38
5,723.01
3,847.87
1,568.08
1,649.12
3,938.71
3,388.70
4,206.08
4,618.19
468.75
% Of Sales
-
16.81%
20.19%
16.10%
6.71%
7.77%
22.76%
15.79%
13.82%
16.02%
20.14%
EBITDA
3,828.06
-3,622.65
-4,218.15
-4,201.31
-2,018.41
-2,378.85
-5,518.20
-3,621.15
-120.64
-752.24
-2,756.79
EBITDA Margin
10.13%
-10.72%
-14.88%
-17.58%
-8.64%
-11.22%
-31.88%
-16.87%
-0.40%
-2.61%
-9.68%
Other Income
928.68
7,002.09
6,082.78
5,456.53
3,550.53
3,561.14
2,817.94
4,052.30
3,000.01
3,475.37
4,628.55
Interest
644.64
986.01
906.08
827.64
612.19
448.13
466.56
612.67
378.29
330.17
412.84
Depreciation
330.85
315.87
271.96
248.90
260.34
314.12
473.25
503.27
475.74
787.33
849.79
PBT
3,781.25
2,077.56
686.59
178.68
659.59
420.04
-3,640.07
-684.79
2,025.34
1,605.63
609.13
Tax
965.67
538.35
211.70
-39.56
61.49
25.75
-896.23
809.28
837.32
776.68
130.39
Tax Rate
25.54%
25.91%
30.83%
-22.14%
9.32%
6.13%
24.62%
-118.18%
41.34%
48.37%
21.41%
PAT
2,815.58
1,600.26
533.90
282.22
654.12
446.03
-2,697.11
-1,466.01
1,005.10
441.16
457.26
PAT before Minority Interest
2,815.58
1,600.26
533.90
282.22
654.12
444.71
-2,699.70
-1,468.35
1,002.42
438.19
455.18
Minority Interest
0.00
0.00
0.00
0.00
0.00
1.32
2.59
2.34
2.68
2.97
2.08
PAT Margin
7.45%
4.74%
1.88%
1.18%
2.80%
2.10%
-15.58%
-6.83%
3.30%
1.53%
1.61%
PAT Growth
460.50%
199.73%
89.18%
-56.86%
46.65%
-
-
-
127.83%
-3.52%
 
EPS
8.09
4.60
1.53
0.81
1.88
1.28
-7.75
-4.21
2.89
1.27
1.31

Results Balance Sheet

Consolidated Figures in Rs. Crores /

Standalone
Description
Mar 26
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Shareholder's Funds
26,146.60
24,722.16
24,438.65
24,378.26
26,506.60
25,983.66
28,660.72
30,904.34
32,334.99
32,388.99
Share Capital
696.41
696.41
696.41
696.41
696.41
696.41
696.41
696.41
734.28
489.52
Total Reserves
25,450.19
24,025.75
23,742.24
23,681.85
25,810.19
25,287.25
27,964.31
30,207.93
31,600.71
31,899.47
Non-Current Liabilities
14,204.03
11,067.71
5,114.77
4,815.66
4,835.93
5,239.76
5,722.56
6,476.07
5,642.48
4,970.72
Secured Loans
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Unsecured Loans
0.00
0.00
0.00
0.00
0.00
0.00
0.00
95.45
57.18
89.55
Long Term Provisions
2,354.62
2,585.56
2,489.08
4,101.02
3,771.21
3,925.56
4,225.16
5,476.03
4,984.89
5,006.19
Current Liabilities
32,311.95
28,237.79
25,272.37
23,538.98
21,432.62
21,015.76
24,907.57
25,943.36
24,196.76
23,634.69
Trade Payables
10,491.60
9,540.92
8,539.38
9,895.83
7,749.59
6,680.83
8,829.16
11,380.98
10,589.25
8,715.88
Other Current Liabilities
11,941.67
8,074.36
5,581.59
5,402.10
5,809.86
5,658.58
5,745.64
6,649.32
7,538.93
7,226.94
Short Term Borrowings
7,950.00
8,795.00
8,808.00
5,385.00
4,745.00
4,849.28
4,947.92
2,444.57
10.28
6.03
Short Term Provisions
1,928.68
1,827.51
2,343.40
2,856.05
3,128.17
3,827.07
5,384.85
5,468.49
6,058.30
7,685.84
Total Liabilities
72,662.58
64,027.66
54,825.79
52,732.90
52,775.15
52,227.52
59,281.78
63,317.04
62,170.18
60,993.32
Net Block
2,998.01
2,946.73
2,574.04
2,475.98
2,398.46
2,491.14
2,817.12
2,970.46
3,073.21
3,601.19
Gross Block
8,004.53
7,748.16
7,236.25
6,948.85
6,639.82
6,470.30
6,338.34
6,003.37
5,633.23
5,379.55
Accumulated Depreciation
5,006.52
4,801.43
4,662.21
4,472.87
4,241.36
3,979.16
3,521.22
3,032.91
2,560.02
1,778.36
Non Current Assets
21,197.46
21,255.69
20,258.55
23,578.98
24,851.70
23,225.61
24,271.51
22,047.95
17,698.01
14,597.30
Capital Work in Progress
495.05
195.43
308.36
353.85
430.98
419.56
314.00
235.44
202.76
168.34
Non Current Investment
302.06
275.57
255.67
235.42
205.15
185.34
162.06
152.36
428.97
757.13
Long Term Loans & Adv.
2,893.48
3,378.15
3,521.69
3,661.02
3,424.18
3,494.57
4,801.41
4,222.46
3,688.46
10,012.28
Other Non Current Assets
14,508.34
14,459.36
13,598.79
16,852.71
18,392.93
16,635.00
16,176.92
14,467.23
10,304.61
58.36
Current Assets
51,465.12
42,771.97
34,567.24
29,153.92
27,923.45
29,001.91
35,010.27
41,269.09
44,472.17
46,396.02
Current Investments
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Inventories
13,334.58
9,869.49
7,220.57
6,755.90
6,560.21
7,194.45
8,908.23
7,800.04
6,263.15
7,379.67
Sundry Debtors
6,796.27
5,884.35
4,785.38
3,128.35
3,024.75
4,035.07
7,108.60
11,863.14
14,064.68
22,077.58
Cash & Bank
11,866.62
7,612.41
6,157.47
6,698.07
7,153.69
6,701.45
6,418.59
7,503.54
11,176.28
10,493.55
Other Current Assets
19,467.65
1,669.23
1,308.26
1,196.60
11,184.80
11,070.94
12,574.85
14,102.37
12,968.06
6,445.22
Short Term Loans & Adv.
17,271.27
17,736.49
15,095.56
11,375.00
9,909.15
9,767.01
11,503.26
12,766.26
11,659.95
5,005.09
Net Current Assets
19,153.17
14,534.18
9,294.87
5,614.94
6,490.83
7,986.15
10,102.70
15,325.73
20,275.41
22,761.33
Total Assets
72,662.58
64,027.66
54,825.79
52,732.90
52,775.15
52,227.52
59,281.78
63,317.04
62,170.18
60,993.32

Cash Flow

Consolidated Figures in Rs. Crores /

Standalone
Description
Mar 26
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Cash From Operating Activity
5,837.38
2,192.47
-3,712.90
-740.70
660.25
559.95
-2,891.50
-3,860.15
989.07
560.41
PBT
2,138.61
745.60
242.66
715.61
470.46
-3,595.93
-659.07
1,839.74
1,605.63
585.57
Adjustment
-395.26
-364.47
-733.12
-770.10
-813.82
1,725.29
705.10
2,310.00
2,610.61
1,938.98
Changes in Working Capital
4,083.65
1,730.06
-3,444.61
-796.63
594.73
2,620.94
-2,615.60
-7,589.09
-3,270.32
-1,375.24
Cash after chg. in Working capital
5,827.00
2,111.19
-3,935.07
-851.12
251.37
750.30
-2,569.57
-3,439.35
945.92
1,149.31
Interest Paid
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Tax Paid
10.38
81.28
222.17
110.42
408.88
-190.35
-321.93
-420.80
43.15
-588.90
Other Direct Exp. Paid
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Extra & Other Items
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Cash From Investing Activity
-3,035.41
-2,731.49
1,330.86
1,480.46
-1,125.32
-42.50
1,877.06
1,918.84
961.21
-565.16
Net Fixed Assets
-555.99
-398.98
-241.91
-231.90
-187.99
-237.53
-458.80
-357.58
-288.08
-326.93
Net Investments
-4.87
-4.10
1.93
0.17
0.29
-0.49
-0.15
21.38
-29.32
2.74
Others
-2,474.55
-2,328.41
1,570.84
1,712.19
-937.62
195.52
2,336.01
2,255.04
1,278.61
-240.97
Cash from Financing Activity
-1,805.73
-856.81
2,655.74
88.96
-329.49
-394.15
1,621.99
-31.63
-667.39
-467.87
Net Cash Inflow / Outflow
996.24
-1,395.83
273.70
828.72
-794.56
123.30
607.55
-1,972.94
1,282.89
-472.62
Opening Cash & Equivalents
439.21
1,835.04
1,561.34
732.62
1,519.90
1,396.60
789.05
2,768.68
1,485.92
1,958.54
Closing Cash & Equivalent
1,435.45
439.21
1,835.04
1,561.34
732.62
1,519.90
1,396.60
795.74
2,768.81
1,485.92

Financial Ratios

Consolidated /

Standalone
Description
Mar 26
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Book Value (Rs.)
75.09
71.00
70.18
70.01
76.12
74.62
82.31
88.75
88.07
88.22
ROA
2.34%
0.90%
0.52%
1.24%
0.85%
-4.84%
-2.44%
1.89%
1.35%
0.74%
ROE
6.29%
2.17%
1.16%
2.57%
1.69%
-9.88%
-5.02%
3.76%
2.56%
1.48%
ROCE
9.24%
4.95%
3.40%
4.35%
2.96%
-9.71%
-0.21%
7.29%
5.96%
3.14%
Fixed Asset Turnover
5.11
4.39
3.90
3.96
3.69
3.08
3.94
6.00
5.96
5.78
Receivable days
57.53
59.20
52.18
41.70
53.28
103.23
142.48
135.45
201.15
273.25
Inventory Days
105.27
94.83
92.15
90.24
103.81
149.17
125.48
73.47
75.93
104.28
Payable days
219.46
244.83
288.77
303.08
266.23
323.25
169.19
152.20
141.99
125.18
Cash Conversion Cycle
-56.66
-90.81
-144.44
-171.14
-109.14
-70.85
98.77
56.73
135.08
252.36
Total Debt/Equity
0.30
0.36
0.36
0.22
0.18
0.19
0.17
0.08
0.00
0.00
Interest Cover
3.17
1.82
1.29
2.17
2.05
-6.71
-0.12
6.35
5.86
2.48

News Update:


  • Bharat Heavy Elect. - Quarterly Results
    15th Oct 2026, 00:00 AM

    Read More
  • BHEL reports over two-fold jump in Q2 consolidated net profit
    14th Oct 2026, 17:23 PM

    Consolidated total income of the company increased by 24.28% to Rs 9,553.01 crore in Q2FY27

    Read More
  • BHEL signs agreement with Hystar AS
    13th Aug 2026, 16:26 PM

    The collaboration will also strengthen BHEL’s project execution capabilities for green hydrogen projects in India

    Read More
  • BHEL secures order for eight Gas Turbine Generator packages
    29th Jul 2026, 12:55 PM

    This order is largest-ever single order secured by the company on Supply & Supervision basis for Gas Turbine Generator packages

    Read More

Source: www.accordfintech.com | DISCLAIMER: Information is provided " as is" and solely for informational purposes, not for trading purposes or advice, and may be delayed.