Nifty
:
24330.95
Sensex
:
77958.52
298.15 (1.24%)
940.73 (1.22%)
Nifty
Sensex
:
:
24330.95
77958.52
298.15 (1.24%)
940.73 (1.22%)

Bharat Heavy Electricals Ltd.

Engineering - Industrial Equipments

Rating :
76/99

BSE: 500103 | NSE: BHEL

NSE BSE
385.95
06-May-2026
  • Open
  • High
  • Low
  • Previous Close
  •  378
  •  387.5
  •  368.4
  •  374.95
  • Volume
  • Traded Value (lacs)
  • 52 Week High
  • 52 Week Low
  •  20995123
  •  7982282855.8
  •  399
  •  205.12

Stock Summary

  • Market Cap(Crs)
  • Stock P:E
  • Face Value
  • 1,34,407.65
  • 83.99
  • 2
  • Enterprise Value(Crs)
  • Dividend Yield
  • Price:Book Value
  • 1,30,491.03
  • 0.36%
  • 5.14

Shareholding Pattern

  • Promoter
  • Corporate
  • Public
  • 58.17%
  • 0.43%
  • 9.30%
  • FII
  • DII
  • Others
  • 7.23%
  • 21.64%
  • 3.23%

Chart

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

Revenue CAGR (%)

  • 10 Years
  • 5 Years
  • 3 Years
  • 1.05
  • 10.36
  • 6.65

EBITDA CAGR (%)

  • 10 Years
  • 5 Years
  • 3 Years
  • 2.44
  • -5.23
  • 15.88

PAT CAGR (%)

  • 10 Years
  • 5 Years
  • 3 Years
  • -
  • -
  • -6.55

P:E (Median)

  • 8 Years
  • 5 Years
  • 3 Years
  • 34.04
  • 39.08
  • 142.64

P:BV (Average)

  • 8 Years
  • 5 Years
  • 3 Years
  • 1.62
  • 2.22
  • 3.13

EV:EBITDA (Average)

  • 8 Years
  • 5 Years
  • 3 Years
  • 28.21
  • 43.13
  • 70.29

Earnings Forecasts:

(Updated: 02-05-2026)
Description
2024
2025
2026
2027
Adj EPS
1.53
3.39
8.8
12.26
P/E Ratio
252.25
113.85
43.86
31.48
Revenue
27355.2
32600.6
40816.4
53391.4
EBITDA
1241.57
2013.4
3866.55
5908.4
Net Income
533.9
1188.76
2742.68
4178.43
ROA
0.84
2.97
4.16
4.92
P/B Ratio
5.44
5.26
4.88
4.43
ROE
2.17
5.34
11.53
15.07
FCFF
1619.16
11988.1
4025.7
1491.4
FCFF Yield
1.3
9.6
3.22
1.19
Net Debt
1402.19
-3212.9
-1459.2
341.1
BVPS
71
73.44
79.03
87.04

Quarterly Results

Consolidated Figures in Rs. Crores /

Standalone
Description
Mar 26
Mar 25
Var%
Dec 25
Dec 24
Var%
Sep 25
Sep 24
Var%
Jun 25
Jun 24
Var%
Net Sales
12,310.37
8,993.37
36.88%
8,473.10
7,277.09
16.44%
7,511.80
6,584.10
14.09%
5,486.91
5,484.92
0.04%
Expenses
10,557.27
8,161.69
29.35%
7,927.80
6,972.85
13.70%
6,930.87
6,309.10
9.86%
6,024.05
5,654.27
6.54%
EBITDA
1,753.10
831.68
110.79%
545.30
304.24
79.23%
580.93
275.00
111.25%
-537.14
-169.35
-
EBIDTM
14.24%
9.25%
6.44%
4.18%
7.73%
4.18%
-9.79%
-3.09%
Other Income
243.13
149.27
62.88%
218.75
107.91
102.72%
174.61
111.27
56.92%
171.16
96.86
76.71%
Interest
197.52
201.43
-1.94%
182.47
183.78
-0.71%
195.21
201.38
-3.06%
181.21
161.74
12.04%
Depreciation
87.90
85.02
3.39%
77.99
67.88
14.89%
75.46
60.09
25.58%
74.52
58.97
26.37%
PBT
1,710.81
694.50
146.34%
503.59
160.49
213.78%
484.87
124.80
288.52%
-621.71
-293.20
-
Tax
437.12
199.97
118.59%
129.43
44.05
193.83%
124.34
35.27
252.54%
-152.54
-67.59
-
PAT
1,273.69
494.53
157.56%
374.16
116.44
221.33%
360.53
89.53
302.69%
-469.17
-225.61
-
PATM
10.35%
5.50%
4.42%
1.60%
4.80%
1.36%
-8.55%
-4.11%
EPS
3.71
1.45
155.86%
1.12
0.39
187.18%
1.08
0.30
260.00%
-1.31
-0.61
-

Annual Results

Consolidated Figures in Rs. Crores /

Standalone
Description
TTM
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Mar 16
Net Sales
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
25,520.44
Net Sales Growth
19.21%
18.61%
2.26%
10.15%
22.55%
-19.36%
-29.49%
5.60%
1.23%
11.59%
 
Cost Of Goods Sold
22,983.09
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
13,265.21
Gross Profit
10,799.09
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
12,255.23
GP Margin
31.97%
52.63%
51.67%
55.17%
54.13%
49.91%
49.96%
54.03%
55.84%
50.42%
48.02%
Total Expenditure
31,439.99
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
28,835.14
Power & Fuel Cost
-
511.08
475.59
510.50
435.58
353.76
486.35
537.32
503.99
494.87
499.47
% Of Sales
-
1.80%
1.99%
2.18%
2.05%
2.04%
2.27%
1.77%
1.75%
1.74%
1.96%
Employee Cost
-
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
5,387.15
% Of Sales
-
20.90%
23.56%
24.40%
26.02%
31.07%
25.31%
18.10%
21.08%
18.97%
21.11%
Manufacturing Exp.
-
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
4,089.06
% Of Sales
-
21.16%
24.13%
26.88%
25.90%
21.13%
18.32%
16.83%
15.42%
14.54%
16.02%
General & Admin Exp.
-
731.39
611.62
587.32
512.33
599.82
788.34
810.92
777.42
872.63
448.76
% Of Sales
-
2.58%
2.56%
2.51%
2.42%
3.47%
3.67%
2.66%
2.70%
3.06%
1.76%
Selling & Distn. Exp.
-
248.13
217.15
261.81
251.18
230.18
317.20
381.30
430.13
468.75
392.85
% Of Sales
-
0.88%
0.91%
1.12%
1.18%
1.33%
1.48%
1.25%
1.49%
1.65%
1.54%
Miscellaneous Exp.
-
5,723.01
3,847.87
1,568.08
1,649.12
3,938.71
3,388.70
4,206.08
4,618.19
5,736.07
392.85
% Of Sales
-
20.19%
16.10%
6.71%
7.77%
22.76%
15.79%
13.82%
16.02%
20.14%
18.62%
EBITDA
2,342.19
-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
-3,314.70
EBITDA Margin
6.93%
-14.88%
-17.58%
-8.64%
-11.22%
-31.88%
-16.87%
-0.40%
-2.61%
-9.68%
-12.99%
Other Income
807.65
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
3,465.92
Interest
756.41
906.08
827.64
612.19
448.13
466.56
612.67
378.29
330.17
412.84
359.81
Depreciation
315.87
271.96
248.90
260.34
314.12
473.25
503.27
475.74
787.33
849.79
936.70
PBT
2,077.56
686.59
178.68
659.59
420.04
-3,640.07
-684.79
2,025.34
1,605.63
609.13
-1,145.29
Tax
538.35
211.70
-39.56
61.49
25.75
-896.23
809.28
837.32
776.68
130.39
-455.55
Tax Rate
25.91%
30.83%
-22.14%
9.32%
6.13%
24.62%
-118.18%
41.34%
48.37%
21.41%
39.78%
PAT
1,539.21
533.90
282.22
654.12
446.03
-2,697.11
-1,466.01
1,005.10
441.16
457.26
-704.13
PAT before Minority Interest
1,539.21
533.90
282.22
654.12
444.71
-2,699.70
-1,468.35
1,002.42
438.19
455.18
-705.58
Minority Interest
0.00
0.00
0.00
0.00
1.32
2.59
2.34
2.68
2.97
2.08
1.45
PAT Margin
4.56%
1.88%
1.18%
2.80%
2.10%
-15.58%
-6.83%
3.30%
1.53%
1.61%
-2.76%
PAT Growth
224.12%
89.18%
-56.86%
46.65%
-
-
-
127.83%
-3.52%
-
 
EPS
4.42
1.53
0.81
1.88
1.28
-7.75
-4.21
2.89
1.27
1.31
-2.02

Results Balance Sheet

Consolidated Figures in Rs. Crores /

Standalone
Description
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Mar 16
Shareholder's Funds
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
32,314.15
Share Capital
696.41
696.41
696.41
696.41
696.41
696.41
696.41
734.28
489.52
489.52
Total Reserves
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
31,824.63
Non-Current Liabilities
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
8,602.16
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
95.45
57.18
89.55
126.29
Long Term Provisions
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
7,629.61
Current Liabilities
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
26,992.96
Trade Payables
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
8,708.44
Other Current Liabilities
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
8,691.07
Short Term Borrowings
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
3.53
Short Term Provisions
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
9,589.92
Total Liabilities
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
67,910.05
Net Block
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
3,968.71
Gross Block
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
4,903.04
Accumulated Depreciation
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
934.33
Non Current Assets
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
16,517.83
Capital Work in Progress
195.43
308.36
353.85
430.98
419.56
314.00
235.44
202.76
168.34
317.84
Non Current Investment
275.57
255.67
235.42
205.15
185.34
162.06
152.36
428.97
757.13
796.42
Long Term Loans & Adv.
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
11,434.13
Other Non Current Assets
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
0.73
Current Assets
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
51,392.22
Current Investments
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Inventories
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
9,608.44
Sundry Debtors
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
22,438.89
Cash & Bank
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
10,087.20
Other Current Assets
19,405.72
1,308.26
1,196.60
1,275.65
11,070.94
12,574.85
14,102.37
12,968.06
6,445.22
9,257.69
Short Term Loans & Adv.
17,734.83
15,095.56
11,375.00
9,909.15
9,767.01
11,503.26
12,766.26
11,659.95
5,005.09
8,593.00
Net Current Assets
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
24,399.26
Total Assets
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
67,910.05

Cash Flow

Consolidated Figures in Rs. Crores /

Standalone
Description
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Mar 16
Cash From Operating Activity
2,191.89
-3,712.90
-740.70
660.25
559.95
-2,891.50
-3,860.15
989.07
560.41
374.44
PBT
745.60
242.66
715.61
470.46
-3,595.93
-659.07
1,839.74
1,605.63
585.57
-1,161.13
Adjustment
-364.47
-733.12
-770.10
-813.82
1,725.29
705.10
2,310.00
2,610.61
1,938.98
2,511.19
Changes in Working Capital
1,729.48
-3,444.61
-796.63
594.73
2,620.94
-2,615.60
-7,589.09
-3,270.32
-1,375.24
-670.33
Cash after chg. in Working capital
2,110.61
-3,935.07
-851.12
251.37
750.30
-2,569.57
-3,439.35
945.92
1,149.31
679.73
Interest Paid
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Tax Paid
81.28
222.17
110.42
408.88
-190.35
-321.93
-420.80
43.15
-588.90
-305.29
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
-2,730.91
1,330.86
1,480.46
-1,125.32
-42.50
1,877.06
1,918.84
961.21
-565.16
23.07
Net Fixed Assets
-398.98
-241.91
-231.90
-187.99
-237.53
-458.80
-357.58
-288.08
-326.93
7,889.56
Net Investments
-4.10
1.93
0.17
0.29
-0.49
-0.15
21.38
-29.32
2.74
-246.49
Others
-2,327.83
1,570.84
1,712.19
-937.62
195.52
2,336.01
2,255.04
1,278.61
-240.97
-7,620.00
Cash from Financing Activity
-856.81
2,655.74
88.96
-329.49
-394.15
1,621.99
-31.63
-667.39
-467.87
-122.47
Net Cash Inflow / Outflow
-1,395.83
273.70
828.72
-794.56
123.30
607.55
-1,972.94
1,282.89
-472.62
275.04
Opening Cash & Equivalents
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
9,812.16
Closing Cash & Equivalent
439.21
1,835.04
1,561.34
732.62
1,519.90
1,396.60
795.74
2,768.81
1,485.92
10,087.20

Financial Ratios

Consolidated /

Standalone
Description
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Mar 16
Book Value (Rs.)
71.00
70.18
70.01
76.12
74.62
82.31
88.75
88.07
88.22
88.02
ROA
0.90%
0.52%
1.24%
0.85%
-4.84%
-2.44%
1.89%
1.35%
0.74%
-1.01%
ROE
2.17%
1.16%
2.57%
1.69%
-9.88%
-5.02%
3.76%
2.56%
1.48%
-2.07%
ROCE
4.95%
3.40%
4.35%
2.96%
-9.71%
-0.21%
7.29%
5.96%
3.14%
-2.29%
Fixed Asset Turnover
4.39
3.90
3.96
3.69
3.08
3.94
6.00
5.96
5.78
3.03
Receivable days
59.20
52.18
41.70
53.28
103.23
142.48
135.45
201.15
273.25
334.91
Inventory Days
94.83
92.15
90.24
103.81
149.17
125.48
73.47
75.93
104.28
134.94
Payable days
244.83
288.77
303.08
266.23
323.25
169.19
152.20
141.99
125.18
132.36
Cash Conversion Cycle
-90.81
-144.44
-171.14
-109.14
-70.85
98.77
56.73
135.08
252.36
337.49
Total Debt/Equity
0.36
0.36
0.22
0.18
0.19
0.17
0.08
0.00
0.00
0.01
Interest Cover
1.82
1.29
2.17
2.05
-6.71
-0.12
6.35
5.86
2.48
-2.18

Annual Reports:

FY 2025
FY 2024
FY 2023
FY 2022
FY 2021
FY 2020
FY 2019
FY 2018
FY 2017
FY 2016

News Update:


  • BHEL - Quarterly Results
    5th May 2026, 00:00 AM

    Read More
  • BHEL enters into LAToT with NSTL- DRDO
    29th Apr 2026, 10:08 AM

    The company has entered into agreement for Fabrication, Installation & Commissioning of the LM2500 Gas Turbine Infrared Suppression System for Naval Vessels

    Read More
  • BHEL withdraws acceptance of LoI for 800 MW Anuppur Thermal Power project
    20th Apr 2026, 11:42 AM

    The company has withdrawn the acceptance of Letter of Intent for supply of equipment (Boiler, Turbine, Generator)

    Read More
  • BHEL inks technology collaboration agreement with E2S Company
    9th Apr 2026, 15:51 PM

    The agreement would enable the company to maintain its competitive edge and strengthen the company’s capabilities

    Read More
  • BHEL receives NoA from NTPC worth over Rs 13,500 crore
    30th Mar 2026, 14:30 PM

    The Completion of Facilities of Main plant package works will be completed within 62 months from the date of Notification of award

    Read More
  • BHEL secures LoA from Steel Authority of India
    18th Feb 2026, 09:21 AM

    The size of order valued in the range of Rs 1200 crore - Rs 1500 crore excluding GST

    Read More
  • Government to sell 5% stake in BHEL through OFS
    11th Feb 2026, 15:09 PM

    The floor price for the offer shall be Rs 254.00 per equity share of the company

    Read More
  • BHEL secures LoA worth Rs 2,800 crore
    11th Feb 2026, 12:59 PM

    The company has secured the LoA from Bharat Coal Gasification and Chemicals

    Read More
  • BHEL bags LoI from HINDALCO Industries
    4th Feb 2026, 16:00 PM

    The company has bagged a letter of intent worth around Rs 1200 to 1500 crore excluding GST

    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.