Bharat Bijlee Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, demonstrating mixed performance with revenue growth offset by declining profitability. The Board of Directors approved these results during their meeting held on February 9, 2026.

Quarterly Financial Performance

The company's Q3 FY26 performance showed revenue growth but profitability challenges. Revenue from operations increased to ₹568.37 crores compared to ₹513.75 crores in Q3 FY25, marking a growth of 10.62%. However, net profit declined significantly by 39.24% to ₹24.68 crores from ₹40.62 crores in the corresponding quarter of the previous year.

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, Bharat Bijlee demonstrated stronger revenue growth but continued profitability pressures. Revenue from operations reached ₹1,506.71 crores, representing a 17.48% increase from ₹1,282.59 crores in the corresponding nine-month period of FY25.

Segment-wise Revenue Breakdown

Bharat Bijlee operates through two primary business segments, both contributing to the overall revenue growth in Q3 FY26.

Power Systems Segment:

• Q3 FY26 revenue: ₹343.64 crores
• Q3 FY25 revenue: ₹317.51 crores
• Growth: 8.24%

Industrial Systems Segment:

• Q3 FY26 revenue: ₹224.73 crores
• Q3 FY25 revenue: ₹196.24 crores
• Growth: 14.52%

Expense Analysis and Cost Structure

The company's expense structure showed significant changes during Q3 FY26. Total expenses increased to ₹544.40 crores from ₹469.00 crores in Q3 FY25, representing a 16.08% rise. Key expense components included cost of materials consumed at ₹442.37 crores and employee benefits expense of ₹56.72 crores.

Regulatory and Compliance Updates

The financial results were reviewed by the Audit Committee and approved by the Board of Directors. The company noted the implementation of four Labour Codes notified by the Government of India on November 21, 2025, which resulted in an increase in gratuity liability of ₹0.70 crores due to past service cost. This amount was included in employee benefit expenses for the quarter and nine months ended December 31, 2025.

Bharat Bijlee continues to operate without any subsidiary, associate, or joint venture companies as of December 31, 2025. The company maintains its focus on two main business segments: Power Systems (transformers, turnkey projects for electrical substations, and maintenance products) and Industrial Systems (electric motors, drives & automation systems, and magnet technology machines).

Bharat Bijlee Limited , a prominent player in the capital goods manufacturing sector, has successfully obtained shareholder approval for two special resolutions that significantly enhance its financial flexibility and support its expansion plans.

Approved Resolutions

1. Increase in Borrowing Limit: Shareholders have approved raising the company's borrowing limit from ₹650.00 crores to ₹1,500.00 crores under Section 180(1)(c) of the Companies Act, 2013.

2. Creation of Charges on Assets: Approval has been granted to create charges on movable and other securities up to ₹1,500.00 crores to secure these borrowings under Section 180(1)(a) of the Companies Act, 2013.

Voting Outcome

Rationale for the Increase

The substantial increase in the borrowing limit is necessary to address:

• Higher non-fund based bank facilities requirements, including bank guarantees for business operations.
• Planned expansion of transformer manufacturing capacity.

Impact on Operations

The approved increase in borrowing capacity is expected to provide Bharat Bijlee with the financial resources needed to:

• Submit bank guarantees of various maturities to customers at different stages of business operations.
• Support the company's expansion plans, particularly in its transformer manufacturing segment.
• Bridge working capital gaps through cash credit facilities.

Management's Perspective

The Board of Directors had approved and recommended these resolutions to the shareholders in their meeting held on October 16, 2025. The overwhelming shareholder support aligns with the management's view that the increased borrowing limit and the ability to create charges on assets are in the best interest of the company, considering its growth trajectory and operational requirements.

With this approval, Bharat Bijlee is now positioned to pursue its growth strategies more aggressively, potentially leading to enhanced operational capabilities and market presence in the coming years.