WEBSITE BSE:500103 NSE: BHEL Inc. Year: 1964 Industry: Engineering - Industrial Equipments My Bucket: Add Stock
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Bharat Heavy Electricals Ltd is an engineering and manufacturing organization. It is an integrated energy plant system manufacturer. Its segments include Power and Industry. The Power section contains of thermal, gasoline, hydro, and nuclear power plant businesses. The Industry segment caters to system supplies for various industries, consisting of transportation, transmission, defense and aerospace, renewables, downstream oil and fuel, electricity garage, and electric mobility, amongst others, and petrochemicals. It is engaged in layout, engin...Read More
Bharat Heavy Electricals Ltd is an engineering and manufacturing organization. It is an integrated energy plant system manufacturer. Its segments include Power and Industry. The Power section contains of thermal, gasoline, hydro, and nuclear power plant businesses. The Industry segment caters to system supplies for various industries, consisting of transportation, transmission, defense and aerospace, renewables, downstream oil and fuel, electricity garage, and electric mobility, amongst others, and petrochemicals. It is engaged in layout, engineering, manufacture, erection, renewable energy, testing, commissioning, and servicing of a range of services and products for various sectors, such as power, transmission, enterprise, transportation, water, oil and gas, and deference and aerospace. It manufactures turbines, steam generator units, inclusive of auxiliary plants for use with steam mills. It also manufactures electric cars, transformers and electricity distribution and manage apparatus. ...Read Less
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Market Cap ₹140884 Cr.
Stock P/E 263.9
P/B 5.4
Current Price ₹404.6
Book Value ₹ 75.1
Face Value 2
52W High ₹408.9
Dividend Yield 0.35%
52W Low ₹ 205.2
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 5504 | 8260 | 5485 | 6584 | 7277 | 8993 | 5487 | 7512 | 8473 | 12310 |
| Other Income | 96 | 157 | 97 | 111 | 108 | 149 | 171 | 175 | 219 | 243 |
| Total Income | 5600 | 8417 | 5582 | 6695 | 7385 | 9143 | 5658 | 7686 | 8692 | 12554 |
| Total Expenditure | 5287 | 7532 | 5654 | 6309 | 6973 | 8162 | 6024 | 6931 | 7928 | 10557 |
| Operating Profit | 312 | 884 | -72 | 386 | 412 | 981 | -366 | 756 | 764 | 1996 |
| Interest | 190 | 193 | 162 | 201 | 184 | 201 | 181 | 195 | 182 | 198 |
| Depreciation | 61 | 68 | 59 | 60 | 68 | 85 | 75 | 75 | 78 | 88 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 62 | 623 | -293 | 125 | 160 | 695 | -622 | 485 | 504 | 1711 |
| Provision for Tax | 24 | 147 | -68 | 35 | 44 | 200 | -153 | 124 | 129 | 437 |
| Profit After Tax | 38 | 476 | -226 | 90 | 116 | 495 | -469 | 361 | 374 | 1274 |
| Adjustments | 22 | 14 | 14 | 17 | 18 | 10 | 14 | 14 | 16 | 17 |
| Profit After Adjustments | 60 | 490 | -211 | 106 | 135 | 504 | -456 | 375 | 390 | 1290 |
| Adjusted Earnings Per Share | 0.2 | 1.4 | -0.6 | 0.3 | 0.4 | 1.4 | -1.3 | 1.1 | 1.1 | 3.7 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 30622 | 25520 | 28477 | 28827 | 30441 | 21463 | 17309 | 21211 | 23365 | 23893 | 28339 | 33782 |
| Other Income | 2926 | 3466 | 4629 | 3475 | 3000 | 4052 | 2818 | 3561 | 3551 | 5457 | 6083 | 808 |
| Total Income | 33548 | 28986 | 33106 | 32303 | 33441 | 25515 | 20127 | 24772 | 26915 | 29349 | 34422 | 34590 |
| Total Expenditure | 30186 | 28835 | 31234 | 29580 | 30562 | 25084 | 22827 | 23590 | 25383 | 28094 | 32558 | 31440 |
| Operating Profit | 3362 | 151 | 1872 | 2723 | 2879 | 431 | -2700 | 1182 | 1532 | 1255 | 1865 | 3150 |
| Interest | 92 | 360 | 413 | 330 | 378 | 613 | 467 | 448 | 612 | 828 | 906 | 756 |
| Depreciation | 1082 | 937 | 850 | 787 | 476 | 503 | 473 | 314 | 260 | 249 | 272 | 316 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 2187 | -1161 | 586 | 1215 | 1840 | -659 | -3596 | 470 | 716 | 243 | 746 | 2078 |
| Provision for Tax | 737 | -456 | 130 | 777 | 837 | 809 | -896 | 26 | 61 | -40 | 212 | 537 |
| Profit After Tax | 1450 | -706 | 455 | 438 | 1002 | -1468 | -2700 | 445 | 654 | 282 | 534 | 1540 |
| Adjustments | 2 | 1 | 2 | 3 | 3 | 2 | 3 | 1 | 0 | 0 | 0 | 61 |
| Profit After Adjustments | 1452 | -704 | 457 | 441 | 1005 | -1466 | -2697 | 446 | 654 | 282 | 534 | 1599 |
| Adjusted Earnings Per Share | 4 | -1.9 | 1.2 | 1.2 | 2.9 | -4.2 | -7.7 | 1.3 | 1.9 | 0.8 | 1.5 | 4.6 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 19% | 10% | 6% | -1% |
| Operating Profit CAGR | 49% | 16% | 34% | -6% |
| PAT CAGR | 89% | 6% | 0% | -10% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 86% | 71% | 44% | 17% |
| ROE Average | 2% | 2% | -0% | 0% |
| ROCE Average | 5% | 4% | 1% | 2% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 34207 | 32314 | 32389 | 32335 | 30904 | 28661 | 25984 | 26507 | 24378 | 24439 | 24722 |
| Minority's Interest | 2 | 1 | -1 | -4 | -7 | -9 | -12 | 0 | 0 | 0 | 0 |
| Borrowings | 1734 | 126 | 90 | 57 | 95 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 9947 | 8476 | 4881 | 5585 | 6381 | 5723 | 5240 | 4836 | 4816 | 5115 | 11068 |
| Total Current Liabilities | 22727 | 26993 | 23635 | 24197 | 25943 | 24908 | 21016 | 21433 | 23539 | 25272 | 28238 |
| Total Liabilities | 68617 | 67910 | 60993 | 62170 | 63317 | 59282 | 52228 | 52775 | 52733 | 54826 | 64028 |
| Fixed Assets | 4230 | 3969 | 3601 | 3073 | 2970 | 2817 | 2491 | 2398 | 2476 | 2574 | 2947 |
| Other Non-Current Assets | 15348 | 12549 | 10996 | 14625 | 19077 | 21454 | 20734 | 22453 | 21103 | 17685 | 18309 |
| Total Current Assets | 49041 | 51392 | 46396 | 44472 | 41269 | 35010 | 29002 | 27923 | 29154 | 34567 | 42772 |
| Total Assets | 68617 | 67910 | 60993 | 62170 | 63317 | 59282 | 52228 | 52775 | 52733 | 54826 | 64028 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 12020 | 9812 | 1959 | 1486 | 2769 | 789 | 1397 | 1520 | 733 | 1561 | 1835 |
| Cash Flow from Operating Activities | 821 | 374 | 560 | 989 | -3860 | -2892 | 560 | 660 | -741 | -3713 | 2192 |
| Cash Flow from Investing Activities | 650 | 23 | -565 | 961 | 1919 | 1877 | -43 | -1125 | 1480 | 1331 | -2731 |
| Cash Flow from Financing Activities | -3543 | -122 | -468 | -667 | -32 | 1622 | -394 | -329 | 89 | 2656 | -857 |
| Net Cash Inflow / Outflow | -2071 | 275 | -473 | 1283 | -1973 | 608 | 123 | -795 | 829 | 274 | -1396 |
| Closing Cash & Cash Equivalent | 9949 | 10087 | 1486 | 2769 | 796 | 1397 | 1520 | 733 | 1561 | 1835 | 439 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 3.96 | -1.92 | 1.25 | 1.2 | 2.89 | -4.21 | -7.75 | 1.28 | 1.88 | 0.81 | 1.53 |
| CEPS(Rs) | 6.9 | 0.63 | 3.55 | 3.34 | 4.25 | -2.77 | -6.39 | 2.18 | 2.63 | 1.53 | 2.31 |
| DPS(Rs) | 1.16 | 0.4 | 1.05 | 1.82 | 2 | 0 | 0 | 0.4 | 0.4 | 0.25 | 0.5 |
| Book NAV/Share(Rs) | 93.17 | 88.02 | 88.22 | 88.07 | 88.75 | 82.31 | 74.62 | 76.12 | 70.01 | 70.18 | 71 |
| Core EBITDA Margin(%) | 1.37 | -12.42 | -9.27 | -2.29 | -0.35 | -14.9 | -28.01 | -9.84 | -7.49 | -15.18 | -12.82 |
| EBIT Margin(%) | 7.18 | -3 | 3.36 | 4.71 | 6.35 | -0.19 | -15.88 | 3.8 | 4.93 | 3.87 | 5.02 |
| Pre Tax Margin(%) | 6.88 | -4.35 | 1.97 | 3.7 | 5.27 | -2.71 | -18.25 | 1.95 | 2.66 | 0.88 | 2.27 |
| PAT Margin (%) | 4.57 | -2.64 | 1.53 | 1.34 | 2.87 | -6.04 | -13.7 | 1.84 | 2.43 | 1.02 | 1.62 |
| Cash Profit Margin (%) | 7.97 | 0.87 | 4.39 | 3.74 | 4.23 | -3.97 | -11.3 | 3.14 | 3.4 | 1.92 | 2.45 |
| ROA(%) | 2.04 | -1.03 | 0.71 | 0.71 | 1.6 | -2.4 | -4.84 | 0.85 | 1.24 | 0.52 | 0.9 |
| ROE(%) | 4.31 | -2.12 | 1.41 | 1.35 | 3.17 | -4.93 | -9.88 | 1.69 | 2.57 | 1.16 | 2.17 |
| ROCE(%) | 6.16 | -2.34 | 3.07 | 4.75 | 6.73 | -0.14 | -9.71 | 2.96 | 4.35 | 3.4 | 4.95 |
| Receivable days | 314.33 | 334.91 | 273.25 | 201.15 | 135.45 | 142.48 | 103.23 | 53.28 | 41.7 | 52.18 | 59.2 |
| Inventory Days | 114.46 | 134.94 | 104.28 | 75.93 | 73.47 | 125.48 | 149.17 | 103.81 | 90.24 | 92.15 | 94.83 |
| Payable days | 234.41 | 243.73 | 224.52 | 275.54 | 284.95 | 341.87 | 323.25 | 266.23 | 303.08 | 288.77 | 244.83 |
| PER(x) | 39.59 | 0 | 87.3 | 67.71 | 25.95 | 0 | 0 | 38.53 | 37.33 | 305 | 140.91 |
| Price/Book(x) | 1.68 | 0.86 | 1.23 | 0.92 | 0.84 | 0.25 | 0.65 | 0.65 | 1 | 3.52 | 3.04 |
| Dividend Yield(%) | 0.49 | 0.35 | 0.97 | 2.24 | 2.67 | 0 | 0 | 0.81 | 0.57 | 0.1 | 0.23 |
| EV/Net Sales(x) | 1.61 | 0.7 | 1.04 | 0.65 | 0.7 | 0.27 | 0.87 | 0.7 | 0.99 | 3.71 | 2.7 |
| EV/Core EBITDA(x) | 14.71 | 118.77 | 15.8 | 6.91 | 7.35 | 13.39 | -5.6 | 12.5 | 15.08 | 70.69 | 40.98 |
| Net Sales Growth(%) | -22.05 | -16.66 | 11.59 | 1.23 | 5.6 | -29.49 | -19.36 | 22.55 | 10.15 | 2.26 | 18.61 |
| EBIT Growth(%) | -56.25 | -135.15 | 224.6 | 54.75 | 43.56 | -102.09 | -6644.33 | 129.35 | 44.55 | -19.39 | 54.32 |
| PAT Growth(%) | -58.59 | -148.65 | 164.51 | -3.73 | 128.76 | -246.48 | -83.86 | 116.47 | 47.09 | -56.86 | 89.18 |
| EPS Growth(%) | -58.54 | -148.48 | 164.94 | -3.48 | 140.12 | -245.86 | -83.98 | 116.54 | 46.65 | -56.85 | 89.18 |
| Debt/Equity(x) | 0.06 | 0.01 | 0 | 0 | 0.08 | 0.17 | 0.19 | 0.18 | 0.22 | 0.36 | 0.36 |
| Current Ratio(x) | 2.16 | 1.9 | 1.96 | 1.84 | 1.59 | 1.41 | 1.38 | 1.3 | 1.24 | 1.37 | 1.51 |
| Quick Ratio(x) | 1.71 | 1.55 | 1.65 | 1.58 | 1.29 | 1.05 | 1.04 | 1 | 0.95 | 1.08 | 1.17 |
| Interest Cover(x) | 24.66 | -2.23 | 2.42 | 4.68 | 5.86 | -0.08 | -6.71 | 2.05 | 2.17 | 1.29 | 1.82 |
| Total Debt/Mcap(x) | 0.03 | 0.01 | 0 | 0 | 0.1 | 0.68 | 0.29 | 0.28 | 0.22 | 0.1 | 0.12 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 63.17 | 63.17 | 63.17 | 63.17 | 63.17 | 63.17 | 63.17 | 63.17 | 63.17 | 58.17 |
| FII | 7.04 | 8.75 | 9.1 | 9.49 | 7.98 | 7.19 | 6.36 | 6.23 | 6.29 | 7.23 |
| DII | 17.57 | 15.94 | 15.02 | 14.68 | 15.49 | 16.35 | 18.45 | 18.62 | 19.69 | 23.98 |
| Public | 12.22 | 12.13 | 12.71 | 12.66 | 13.36 | 13.29 | 12.02 | 11.98 | 10.85 | 10.62 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 219.97 | 219.97 | 219.97 | 219.97 | 219.97 | 219.97 | 219.97 | 219.97 | 219.97 | 202.54 |
| FII | 24.51 | 30.48 | 31.68 | 33.04 | 27.79 | 25.04 | 22.16 | 21.7 | 21.9 | 25.16 |
| DII | 61.19 | 55.51 | 52.32 | 51.13 | 53.95 | 56.92 | 64.24 | 64.83 | 68.58 | 83.51 |
| Public | 42.54 | 42.25 | 44.25 | 44.08 | 46.5 | 46.29 | 41.84 | 41.71 | 37.76 | 36.99 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 348.21 | 348.21 | 348.21 | 348.21 | 348.21 | 348.21 | 348.21 | 348.21 | 348.21 | 348.21 |
* The pros and cons are machine generated.
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