BHEL · Bharat Heavy Electricals Ltd · Misc. Capital Goods
BHEL · Bharat Heavy Electricals Ltd · Misc. Capital Goods
As of 06 Nov close
52-week range
9.7% below 52-week high
52-week range: as of 06 Nov 2026 close.
Price chartDaily closes on the stock page.
Weighted combination of 8 measured readings. Not a probability, a rating or a forecast.
Full signal detail →Fundamentals as of 15 Sep 2026 · the company's own latest record is 52 days old
Revenue (latest Q)
₹7,698 Cr
Revenue YoY
PAT YoY
+182.7%
Operating margin
Revenue, last 8 quarters
P/E (TTM)
P/B
5.8
P/S (TTM)
4.2
Sector P/E
43.1
Dividend yield
+0.3%
| Company | P/E | P/B | Net margin | ROE | D/E | Div. yield |
|---|---|---|---|---|---|---|
| BHEL (this stock) | 59.3 | 5.8 | +6.8% | +9.3% | 0.31 | +0.3% |
| Suzlon Energy | 25.9 | 6.9 | +18.0% | +33.2% | 0.06 | 0.0% |
| Thermax | 97.9 | 8 | +5.5% | +10.7% | 0.42 | +0.4% |
| Voltas | 94.2 | 6 | +3.0% | +7.0% | 0.16 | +0.3% |
Promoter
stable
FII
rising 2q
MF
11.40% (-1.48pp)
falling 1q
Insider trades
| Date | Insider | Type | Qty | Value |
|---|---|---|---|---|
| 12 Feb 2026 | President of India, acting through Ministry of HeavyIndustries, GOI | SELL | 17,42,09,815 | ₹4,470 Cr |
Bulk/block deals
No bulk/block deals in the last 12 months.
News timeline
- mediumcorporate actionthehindubusinessline.com· 04 Nov 2026, 01:48 pmBHEL bags projects worth up to ₹28,000 cr from Adani Power
- mediumcorporate actioneconomictimes.indiatimes.com· 04 Nov 2026, 09:51 amBHEL bags orders worth up to Rs 28,000 crore from Adani Power for four 1,600 MW projects
- mediumeconomictimes.indiatimes.com· 30 Oct 2026, 09:46 amDiwali blues: 83 largecap stocks plunge up to 60% since Samvat 2082. Can bluechips light up D-Street in the new year?
- lowthehindubusinessline.com· 27 Oct 2026, 04:27 pmICICI Prudential BSE Power ETF NFO opens October 26 with ₹1,000 minimum investment
- highcorporate actioneconomictimes.indiatimes.com· 14 Oct 2026, 02:05 pmBHEL Q2 Results: Net profit skyrockets 120% YoY to Rs 810 crore; revenue rises 24%
- lowthehindubusinessline.com· 14 Oct 2026, 08:59 amQ2 Results 14th Oct Live: BHEL, Groww, Canara Bank, ICICIGI, CEAT, HDB Financial, Tata Tech Share to announce Q2 results
- loweconomictimes.indiatimes.com· 14 Oct 2026, 06:00 amStocks in news: Adani Enterprises, Hyundai Motor India, BHEL, BEL, Groww, Tata Elxsi and RailTel
- loweconomictimes.indiatimes.com· 06 Oct 2026, 05:39 pmHFCL among 4 stocks hitting 52-week highs; rallied up to 15% in a month - New Highs
- lowlivemint.com· 02 Oct 2026, 12:13 amOne day, two Anups; one Saha, one Bagchi at helm of two big banks
- lowbusiness-standard.com· 16 Sept 2026, 07:58 amStocks to watch: Paytm, BHEL, Bharat Forge, Tempsens Instruments, Groww
- loweconomictimes.indiatimes.com· 16 Sept 2026, 06:00 amStocks in news: Yes Bank, Vedanta, Groww, BHEL, Bharat Forge and NBCC
- lowcorporate actioneconomictimes.indiatimes.com· 14 Sept 2026, 09:27 pmBHEL Board okays Rs 65 crore investment in joint venture NTPC BHEL Power Projects
- lowbusiness-standard.com· 13 Sept 2026, 11:03 pmOpposite signals in NTPC, BHEL: Kotak Institutional Equities report
- unknowneconomictimes.indiatimes.com· 02 Sept 2026, 05:59 amMidcap Street party turns selective as 15 stocks power 50% of rally
- lowbusiness-standard.com· 01 Sept 2026, 01:11 pm₹1 trillion market-cap stock club swells 27% to 119 in FY27
- unknowntimesofindia.indiatimes.com· 28 Aug 2026, 10:14 amTop stocks to buy today: Stock market recommendations for August 28, 2026 - check list
- unknownbusiness-standard.com· 27 Aug 2026, 12:53 pmBHEL share price rallies 5% on huge volume; nears record high
- lowbusiness-standard.com· 14 Aug 2026, 12:54 pmOberoi Realty, 360 One, ICICI AMC: Midcaps at inflection point; what next?
- mediumcorporate actioneconomictimes.indiatimes.com· 13 Aug 2026, 05:16 pmBHEL enters into strategic tie-up with Hystar AS to manufacture PEM Electrolyser Systems
- loweconomictimes.indiatimes.com· 13 Aug 2026, 12:33 pm8 midcap stocks surged up to 125% in a year; 4 became multibaggers. Do you own any? - Midcap Magic Emerges
Concalls & investor presentations
AI-generatedNo concall transcripts or investor presentations recorded yet.
AI Summary of Annual Report
AI-generatedBHEL delivered strong financial performance in FY2025-26, with Revenue from Operations rising 19% to ₹33,782 Crore, Profit After Tax increasing three-fold to ₹1,578 Crore, and EBITDA at ₹3,189 Crore. The company achieved an all-time high order book of ₹2,39,057 Crore, driven by significant order wins in power, industry, and international sectors. Key projects include the 8,288 Crore coal gasification order and the 6x170 MW Punatsangchhu-II Hydro Project. The company maintained strong liquidity with a net cash surplus of ₹4,630 Crore and no defaults on loans or borrowings. No insolvency proceedings were pending under the IBC, and the auditors' report had no qualifications. BHEL also received multiple awards for governance, HR excellence, and digital transformation.
- Revenue from Operations increased 19% to ₹33,782 Crore, Profit After Tax tripled to ₹1,578 Crore.
- Order book reached an all-time high of ₹2,39,057 Crore, with significant wins in power, industry, and international sectors.
- No defaults on loans or borrowings, and no insolvency proceedings under IBC.
- Auditors' report had no qualifications, and the company maintained strong liquidity with a net cash surplus of ₹4,630 Crore.
Key takeaway: BHEL demonstrated robust financial performance and operational growth in FY2025-26, with strong revenue, profit, and order inflows, no liquidity or insolvency issues, and a clean audit report.
The following annual report excerpts provide qualitative strategic context. Do not treat any specific financial figures in these excerpts as authoritative — they may be incorrectly labeled due to PDF table extraction limitations. For precise financial data, refer to the structured fundamentals data above.
Governance disclosures
AI-generatedNeeds attention
Regulatory Action (5 items)
Items of these kinds are disclosed in the filings. This is a count of disclosed items. It is not a finding about the company and its cause has not been independently established.
Regulatory Action
5 occurrencesRecent (last 12 months)
The company received notices and fines from NSE and BSE for non-compliance with SEBI Listing Regulations regarding board composition, specifically the number of independent directors and composition of audit and nomination committees during specific periods.
Earlier (1-3 years ago)
The company has received notices from NSE and BSE imposing fines for non-compliance with SEBI Listing Regulations regarding the composition of the Board, specifically due to having fewer than the minimum required number of Independent Directors.
Bharat Heavy Electricals Limited (BHEL) received fines from NSE and BSE for non-compliance with SEBI Listing Regulations regarding the composition of the Board and delay in filing redemption obligation of Commercial Paper during COVID. BHEL requested waivers, which were approved for the quarters up to 31.12.2021.
Older (3+ years ago)
The company received notices from NSE and BSE imposing fines for non-compliance with Regulation 57(1) of SEBI Listing Regulations regarding delay in filing intimation about redemption obligation of Commercial Paper during January 2021. The company sought waiver of the fine considering exceptional COVID times, and the Stock Exchanges waived the fine.
The company received notices from NSE and BSE regarding non-compliance with Regulation 17(1) of the SEBI Listing Regulations and imposition of a fine for not having 50% Independent Directors (including at least one Independent Woman Director) on its Board up to November 8, 2021.
Routine disclosures
Internal Control Weakness
1 occurrenceEarlier (1-3 years ago)
The auditor has identified a material weakness in the internal financial controls of Bharat Heavy Electricals Limited as of March 31, 2025.
Contingent Liability
5 occurrencesRecent (last 12 months)
The JVC has a deemed investment of ₹5.29 Crore representing the fair value of corporate guarantees provided without consideration, indicating a contingent liability.
Earlier (1-3 years ago)
The company has pending litigations before various forums, and management judgment is required to estimate the contingent liability amount.
The company has pending litigations before various forums, and management judgment is required to estimate the contingent liability amount.
Older (3+ years ago)
The company has a number of pending litigations, which constitute contingent liabilities.
Bharat Heavy Electricals Limited has pending litigations which require management judgment to estimate the contingent liability amount. The audit identified this as a Key Audit Matter due to uncertainty in the outcome of these litigations.
Statutory dues in dispute
1 occurrenceRecent (last 12 months)
The company has not deposited certain statutory dues including Income Tax, Sales Tax, Service Tax, Customs Duty, Excise Duty, Value Added Tax, and Goods and Services Tax as of March 31, 2026, due to disputes.
Promoter Share Pledge
1 occurrenceRecent (last 12 months)
1.73% of promoter holding pledged (quarter 2026-Q3 as of 2026-07-18).