Bharat Heavy Electricals

Bharat Heavy Electricals

244.96
-0.35
(-0.14%)
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Key Fundamentals
Add Ratio
Market Cap
85,296.62 Cr
EPS
1.53
PE Ratio
295.78
Dividend Yield
0.20 %
52 Week High
275.55
52 Week Low
176.00
PB Ratio
3.46
Debt to Equity
0.36
Analyst Rating and Forecast
- By Refinitiv from20 analysts
SELL
Analysts have suggested that investors can sell this stock
Buy
Buy+40.00 %
+40.00 %
Hold
Hold+15.00 %
+15.00 %
Sell
Sell+45.00 %
+45.00 %
Forecast For
Actual

Company News

View All News
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positive
Bharat Heavy Electricals Limited (BHEL) received Notifications of Award from M.P. Power Generating Company Ltd. (MPPGCL) for two thermal power plant projects. The contracts cover EPC packages for 1x660 MW Amarkantak Unit no. 6 and 1x660 MW Satpura Unit no. 12 Supercritical Thermal Power Plants in Madhya Pradesh. The work includes supply of equipment, erection & commissioning, and civil works. Each plant must be completed within 57 months from the award notification. The combined contract value ranges between Rs 13,000 crore to Rs 15,000 crore, excluding taxes and duties. The awards were received through an open tender enquiry process from a domestic entity.
negative
BHEL's board of directors acknowledged DIPAM's decision not to approve the proposed joint venture with REC Power Development and Consultancy Limited during a board meeting held on September 25, 2025. The company referenced an earlier clarification from May 10, 2025. Separately, BHEL secured a ₹22.87 crore order from Indian Railways' South Western Railway division for KAVACH equipment design, supply, and installation. The equipment will be manufactured at BHEL's Bengaluru facility with completion expected within 18 months. BHEL shares closed at ₹234.60, declining ₹1.45 or 0.61% on the BSE.
negative
BHEL's Board of Directors noted that DIPAM has not agreed to the proposal for formation of a joint venture between BHEL and REC Power Development and Consultancy Limited. The board meeting was held on September 25, 2025, from 4:00 PM to 5:30 PM. This follows a previous clarification dated May 10, 2025 regarding the same matter.
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Competitors
LTP
Market Cap (₹ Cr.)
P/E Ratio
Revenue (₹ Cr.)
YoY Revenue Growth %
Net Profit (₹ Cr.)
YoY Profit Growth %
RSI
750.45
#1 1,18,171.94
117.05
10,070.80
23.53
973
10.66
51.39
3,244.30
1,15,536.18
67.38
12,193.00
15.54
1,606
-26.76
48.63
5,245.50
1,11,156.54
61.46
12,541.70
16.69
1,875
25.39
44.38
3,412.00
98,021.03
44.55
14,846.10
27.62
1,928
92.70
53.93
244.96
#5 85,296.62
#10 295.78
#1 28,804.80
#7 17.86
#9 534
#10 -115.47
67.21
18,062.00
80,506.60
160.62
6,442.10
22.78
384
#1 1,165.38
37.85
3,134.90
80,268.03
105.27
4,354.90
36.50
608
116.51
68.28
54.13
74,204.20
#1 35.14
10,993.10
67.39
#1 2,072
7.28
31.76
1,017.50
45,866.29
43.93
6,652.10
#1 109.76
937
55.30
52.80
3,166.30
37,728.46
56.41
10,640.90
11.35
627
38.39
40.90

Automatic Screeners on ScanX

Growth Rate
Revenue Growth
17.86 %
Net Income Growth
89.19 %
Cash Flow Change
159.03 %
ROE
87.83 %
ROCE
29.76 %
EBITDA Margin (Avg.)
25.11 %

Quarterly Financial Results

Quarterly Financials
Jun 2018
Sept 2018
Dec 2018
Mar 2019
Jun 2019
Sept 2019
Dec 2019
Mar 2020
Jun 2020
Sept 2020
Dec 2020
Mar 2021
Jun 2021
Sept 2021
Dec 2021
Mar 2022
Jun 2022
Sept 2022
Dec 2022
Mar 2023
Jun 2023
Sept 2023
Dec 2023
Mar 2024
Jun 2024
Sept 2024
Dec 2024
Mar 2025
Jun 2025
Revenue
5,971
6,761
7,352
10,036
4,557
6,170
5,616
4,741
1,997
3,554
4,302
6,836
2,798
5,007
5,023
7,731
4,533
5,154
5,050
7,944
5,133
5,317
5,622
8,430
5,596
6,712
7,403
9,153
5,672
Expenses
5,765
6,641
7,122
8,987
4,802
5,962
5,354
5,610
3,050
4,329
4,632
8,439
3,377
5,142
5,047
6,910
4,842
5,447
5,119
7,178
5,182
5,279
5,287
7,532
5,654
6,309
6,973
8,162
6,024
EBITDA
205
120
230
1,049
-245
209
262
-869
-1,053
-776
-329
-1,603
-579
-136
-24
822
-309
-292
-70
766
-48
38
335
898
-58
403
430
991
-352
Operating Profit %
1 %
-0 %
-0 %
9 %
-9 %
1 %
2 %
-22 %
-61 %
-26 %
-10 %
-25 %
-24 %
-5 %
-3 %
9 %
-9 %
-11 %
-4 %
8 %
-4 %
-3 %
4 %
9 %
-3 %
4 %
4 %
9 %
-10 %
Depreciation
176
52
113
134
115
120
115
154
119
115
113
127
111
43
74
86
67
59
63
73
60
60
61
68
59
60
68
85
75
Interest
64
69
58
97
108
119
140
141
115
95
86
79
84
90
86
96
98
123
139
161
168
180
190
193
162
201
184
201
181
Profit Before Tax
110
172
280
1,278
-347
167
229
-709
-1,192
-734
-280
-1,390
-597
-67
33
1,102
-251
-200
53
940
-276
-202
85
636
-279
141
179
704
-608
Tax
70
86
83
598
-128
46
68
824
-299
-181
-62
-354
-149
-21
6
189
-63
-212
10
282
-72
-139
24
147
-68
35
44
200
-153
Net Profit
40
85
196
681
-219
121
162
-1,532
-893
-552
-218
-1,036
-448
-47
27
913
-188
12
42
658
-205
-63
60
490
-211
106
135
505
-456
EPS in ₹
0.11
0.23
0.54
1.88
-0.63
0.35
0.46
-4.40
-2.56
-1.59
-0.62
-2.97
-1.29
-0.13
0.08
2.62
-0.54
0.03
0.12
1.89
-0.59
-0.18
0.17
1.41
-0.61
0.30
0.39
1.45
-1.31

Balance Sheet

Balance Sheet
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Total Assets
70,846
65,321
61,347
63,474
63,934
59,749
55,240
56,244
56,920
59,002
68,083
Fixed Assets
4,230
3,969
3,601
3,073
2,971
2,817
2,491
2,399
2,476
2,574
2,947
Current Assets
49,041
45,140
42,904
42,143
38,381
32,711
28,343
27,862
29,095
34,542
42,760
Capital Work in Progress
2,614
318
168
203
235
314
420
431
354
308
195
Investments
0
796
757
429
152
162
185
205
235
256
276
Other Assets
64,003
60,238
56,821
59,769
60,576
56,455
52,144
53,209
53,855
55,864
64,665
Total Liabilities
70,846
65,321
61,347
63,474
63,934
59,749
55,240
56,244
56,920
59,002
68,083
Current Liabilities
22,727
20,741
20,143
21,868
23,055
22,609
20,357
21,371
23,480
25,247
28,226
Non Current Liabilities
13,910
12,265
8,817
9,275
9,982
8,488
8,911
8,366
9,062
9,316
15,135
Total Equity
34,209
32,315
32,388
32,331
30,898
28,652
25,972
26,507
24,378
24,439
24,722
Reserve & Surplus
33,717
31,825
31,900
31,601
30,208
27,964
25,287
25,810
23,682
23,742
24,026
Share Capital
490
490
490
734
696
696
696
696
696
696
696

Cash Flow

Cash Flow
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Net Cash Flow
-2,071
275
-473
1,283
-1,973
608
123
-787
829
274
-1,396
Investing Activities
650
23
-565
961
1,919
1,877
-43
-1,118
1,481
1,331
-2,731
Operating Activities
821
374
560
989
-3,860
-2,892
560
660
-741
-3,713
2,192
Financing Activities
-3,543
-123
-468
-667
-32
1,622
-394
-330
89
2,656
-857

Share Holding

% Holding
Mar 2021
Jun 2021
Sept 2021
Dec 2021
Mar 2022
Jun 2022
Sept 2022
Dec 2022
Mar 2023
Jun 2023
Sept 2023
Dec 2023
Mar 2024
Jun 2024
Sept 2024
Dec 2024
Mar 2025
Jun 2025
Promoter
63.17 %
63.17 %
63.17 %
63.17 %
63.17 %
63.17 %
63.17 %
63.17 %
63.17 %
63.17 %
63.17 %
63.17 %
63.17 %
63.17 %
63.17 %
63.17 %
63.17 %
63.17 %
FIIs
0.00 %
0.00 %
0.00 %
0.00 %
0.00 %
0.00 %
0.00 %
0.00 %
0.00 %
0.00 %
0.00 %
7.04 %
8.75 %
9.10 %
9.49 %
7.98 %
7.19 %
6.36 %
DIIs
12.49 %
12.38 %
13.72 %
13.80 %
12.66 %
12.59 %
14.46 %
14.72 %
15.50 %
16.14 %
15.99 %
17.58 %
15.94 %
15.03 %
14.69 %
15.49 %
16.35 %
18.45 %
Government
0.00 %
0.00 %
0.00 %
0.00 %
0.00 %
0.00 %
0.00 %
0.00 %
0.00 %
0.00 %
0.00 %
0.00 %
0.00 %
0.00 %
0.00 %
0.00 %
0.00 %
0.00 %
Public / Retail
15.96 %
16.33 %
16.15 %
16.74 %
17.63 %
17.69 %
15.44 %
11.30 %
10.98 %
10.86 %
11.72 %
10.33 %
10.33 %
11.15 %
11.23 %
11.81 %
11.77 %
10.69 %
Others
8.38 %
8.11 %
6.95 %
6.29 %
6.54 %
6.54 %
6.93 %
10.81 %
10.35 %
9.83 %
9.12 %
1.89 %
1.80 %
1.55 %
1.43 %
1.54 %
1.52 %
1.32 %
No of Share Holders
9,86,752
11,46,940
11,38,650
12,04,730
12,81,740
12,87,800
11,92,230
10,27,960
10,16,940
10,12,620
12,27,660
12,65,440
14,99,200
18,80,850
19,95,270
20,83,030
21,20,570
19,83,220

Dividend History

Annual Cash Flows 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Dividend Per Share (₹) 0.00 1.58 1.82 2 0.00 0.00 0.4 0.4 0.25 0.5
Dividend Yield (%) 0.00 1.94 2.43 9.62 0.00 0.00 0.57 0.16 0.12 0.2

Corporate Action

Record Date Corporate Action Information Announcement Day LTP at Annoucement LTP at Record Day
30 Sept 2017 BONUS Bonus
1:2
28 Sept 2017 0.00 0.00
16 Sept 2022 DIVIDEND Dividend
₹ 0.40 /share
15 Sept 2022 53.15 61.70
11 Aug 2023 DIVIDEND Dividend
₹ 0.40 /share
11 Aug 2023 81.87 99.85
09 Aug 2024 DIVIDEND Dividend
₹ 0.25 /share
09 Aug 2024 310.05 297.85
22 Aug 2024 ANNUAL GENERAL MEETING Annual General Meeting
NA
22 Aug 2024 308.60 296.55
28 Oct 2024 QUARTERLY RESULT ANNOUNCEMENT Quarterly Result Announcement
NA
28 Oct 2024 269.80 216.95
28 Jan 2025 QUARTERLY RESULT ANNOUNCEMENT Quarterly Result Announcement
NA
28 Jan 2025 216.38 194.54
16 May 2025 QUARTERLY RESULT ANNOUNCEMENT Quarterly Result Announcement
NA
16 May 2025 226.84 245.68
01 Aug 2025 DIVIDEND Dividend
₹ 0.50 /share
01 Aug 2025 245.68 238.30
06 Aug 2025 QUARTERLY RESULT ANNOUNCEMENT Quarterly Result Announcement
NA
06 Aug 2025 250.50 248.25
19 Aug 2025 ANNUAL GENERAL MEETING Annual General Meeting
NA
19 Aug 2025 251.90 216.65

Announcements

Announcement under Regulation 30 (LODR)-Cessation6 days ago
Receipt Of A Show Cause Notice From GST Authorities Bengaluru Karnataka6 days ago
Receipt Of Favourable Order From Appellate Authority Telangana7 days ago
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order7 days ago
Board Meeting Outcome for Update On Proposed Joint Venture Between BHEL And REC Power Development And Consultancy LimitedSep 25, 2025
Closure of Trading WindowSep 25, 2025
Announcement under Regulation 30 (LODR)-Change in ManagementSep 25, 2025
Receipt Of Notice From GST Authorities TelanganaSep 19, 2025
Announcement under Regulation 30 (LODR)-Newspaper PublicationSep 17, 2025
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationSep 15, 2025
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderSep 12, 2025
Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/sSep 11, 2025
Announcement under Regulation 30 (LODR)-Memorandum of Understanding /AgreementsSep 05, 2025
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderSep 03, 2025
Revised Declaration Regarding Dissolution Of Joint Venture CompanySep 02, 2025
Receipt Of An Order From Commissioner CGST(Appeal)/DehradunSep 02, 2025
Announcement under Regulation 30 (LODR)-Updates on Joint VentureSep 01, 2025
Announcement Under Regulation 30Sep 01, 2025
Announcement under Regulation 30 (LODR)-Memorandum of Understanding /AgreementsAug 30, 2025
Announcement under Regulation 30 (LODR)-Change in ManagementAug 25, 2025
Appointment Of M/S Akhil Rohatgi & Co. As Secretarial Auditors Of BHEL For Fys 2025-26 To 2029-30Aug 19, 2025
Shareholder Meeting / Postal Ballot-Outcome of AGMAug 19, 2025
Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 07, 2025
BHEL Q1 FY 2025-26 Results Supplementary InformationAug 06, 2025
Financial Results For The Quarter Ended June 2025Aug 06, 2025
Announcement under Regulation 30 (LODR)-Credit RatingAug 05, 2025
Announcement under Regulation 30 (LODR)-Newspaper PublicationJul 27, 2025
Business Responsibility and Sustainability Reporting (BRSR)Jul 26, 2025
Reg. 34 (1) Annual Report.Jul 26, 2025
Notice Of 61St AGM & E-Voting InformationJul 26, 2025
Announcement under Regulation 30 (LODR)-Newspaper PublicationJul 25, 2025
Announcement under Regulation 30 (LODR)-Newspaper PublicationJul 25, 2025
Announcement under Regulation 30 (LODR)-Change in ManagementJul 25, 2025
Intimation Of Revised Dates Of 61St Annual General Meeting Of BHEL & Record Date For Final Dividend For FY 2024-25 Jul 24, 2025
Corporate Action-Board to consider DividendJul 24, 2025
Intimation Of Revised Dates Of 61St Annual General Meeting Of BHEL & Record Date For Final Dividend For FY 2024-25 Jul 24, 2025
Board Meeting Intimation for Unaudited Financial Results For The Quarter Ended 30Th June 2025Jul 23, 2025
Announcement under Regulation 30 (LODR)-Newspaper PublicationJul 21, 2025
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Jul 08, 2025
Rescheduling Of 61St Annual General Meeting Of BHEL & Record Date For Final Dividend For FY 2024-25 Jul 02, 2025
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderJun 27, 2025
Closure of Trading WindowJun 26, 2025
Announcement under Regulation 30 (LODR)-Change in ManagementJun 25, 2025
Intimation Of Record Date For Final Dividend For FY 2024-25Jun 19, 2025
Intimation Of Date Of Annual General MeetingJun 19, 2025
Announcement under Regulation 30 (LODR)-Newspaper PublicationJun 11, 2025
Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations 2015May 30, 2025
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationMay 28, 2025
Announcement under Regulation 30 (LODR)-Change in ManagementMay 25, 2025
Compliances-Reg.24(A)-Annual Secretarial ComplianceMay 17, 2025

Mutual Fund Holdings

Funding HouseCurrent Holding %1M Change1M Change %3M Change %Last 6M Trend
Nippon India Small Cap Fund Direct- Growth
0.00%
-27500000
-0.88%
-0.99%
SBI Mid Cap Direct Plan-Growth
0.00%
-20000000
-1.89%
-2.12%
Nippon India Growth Mid Cap Fund Direct- Growth
0.00%
-18184846
-0.99%
-1.12%
Mirae Asset Large & Midcap Fund Direct-Growth
0.00%
-13886953
-0.72%
-0.82%
Nippon India Focused Fund Direct-Growth
0.00%
-11805375
-2.92%
-3.00%
HSBC Midcap Fund Direct-Growth
0.00%
-11052500
-1.96%
-1.80%
Mirae Asset Midcap Fund Direct - Growth
0.00%
-10419409
-1.29%
-1.46%
Nippon India Power & Infra Fund Direct-Growth
0.00%
-8900838
-2.58%
-2.82%
Aditya Birla Sun Life PSU Equity Fund Direct-Growth
0.00%
-7796301
-3.10%
-3.21%
Nippon India Value Fund Direct-Growth
0.00%
-7008367
-1.70%
-1.91%
Kotak Arbitrage Fund Direct-Growth
0.00%
-6079500
-0.18%
-0.12%
SBI Arbitrage Opportunities Fund Direct-Growth
0.00%
-5328750
-0.27%
-0.31%
JM Flexicap Fund Direct Plan-Growth
0.00%
-4909472
-1.72%
-2.05%
Nippon India Flexi Cap Fund Direct - Growth
0.00%
-4900000
-1.12%
-1.28%
Nippon India Vision Large & Mid Cap Direct-Growth
0.00%
-4500000
-1.52%
-1.74%
Axis Midcap Direct Plan-Growth
0.00%
-4434958
-0.30%
-0.52%
Aditya Birla Sun Life Value Direct Fund-Growth
0.00%
-4217236
-1.49%
-1.65%
Tata Arbitrage Fund Direct - Growth
0.00%
-4176375
-0.47%
-0.53%
SBI Infrastructure Fund Direct-Growth
0.00%
-4000000
-1.72%
-1.92%
SBI PSU Direct Plan-Growth
0.00%
-4000000
-1.61%
-1.36%
Edelweiss Arbitrage Fund Direct-Growth
0.00%
-3714375
-0.49%
-0.57%
Aditya Birla Sun Life Arbitrage Fund Direct-Growth
0.00%
-3467625
-0.31%
-0.37%
ICICI Prudential Energy Opportunities Fund Direct-Growth
0.00%
-3224377
-0.66%
-0.72%
Axis Large & Mid Cap Fund Direct-Growth
0.00%
-3204417
-0.45%
-0.52%
ICICI Prudential Equity Arbitrage Direct-Growth
0.00%
-3110625
-0.20%
-0.20%

Technical Indicators

RSI(14)
Neutral
67.21
ATR(14)
Volatile
5.39
STOCH(9,6)
Neutral
55.47
STOCH RSI(14)
Neutral
78.68
MACD(12,26)
Bullish
1.35
ADX(14)
Strong Trend
31.18
UO(9)
Bearish
53.29
ROC(12)
Uptrend And Accelerating
5.53
WillR(14)
Overbought
-7.06

About Bharat Heavy Electricals

Bharat Heavy Electricals Limited (BHEL) is an Indian engineering and manufacturing company specializing in power generation equipment and systems. It operates in two main segments: Power and Industry. The Power segment focuses on thermal, gas, hydro, nuclear and solar power plants, as well as related services and new technologies. The Industry segment provides equipment and EPC services for transportation, transmission, defense, aerospace, captive power, process industries, renewables, oil & gas, and energy storage. BHEL has a wide product range covering power generation, transmission, transportation, defense, and other sectors. The company has manufacturing facilities across India and has executed projects in over 80 countries. BHEL is known for its capabilities in supercritical thermal power technology and has commissioned numerous power plants and substations.
Chairperson NameShri K Sadashiv Murthy