Company research / Focus view

Bharat Heavy Electricals

BHEL · Capital Goods & Engineering · mid cap · Midcap 50

Revenue · FY26

₹32,360 cr

+18.3% YoY

What the business sold

Net profit · FY26

₹1,600 cr

+199.7% YoY

What it kept after tax

Operating profit · FY26

₹1,603 cr

+98.3% YoY

Profit from operations

Operating cash flow · FY26

₹5,837 cr

+166.2% YoY

Cash the operations produced

Total debt · FY26

₹8,187 cr

-9.2% YoY

Borrowings against the business

Dividend per share · FY26

—

Paid out per share · not collected yet

Five years in perspective

Price index · Start = 100 · Dividends excluded · ₹431 today (+0.35%)

+674.5% · 5Y

2021 · 10020222023202420252026 · 631.5

1M +7.0%6M +68.5%1Y +88.1%3Y +208.2%5Y +674.5%

Market cap

₹1.5 L Cr

As of 13 Sept 2026

Price to earnings

61.7

Price to book 5.7

Dividend yield

32.00%

Trailing twelve months

52-week range

₹228 – ₹447

Closing prices

The financial record

₹ crore · Consolidated where reported · Indian fiscal years (April–March)

Reported metric	FY23	FY24	FY25	FY26
Revenue	22,136	22,921	27,355	32,360
Operating profit	97	180	808	1,603
Net profit	637	282	534	1,600
Operating cash flow	-741	-3,713	2,192	5,837
Free cash flow	-929	-3,945	1,888	5,248
Capital expenditure	-188	-233	-304	-589
Tax expense	61	-40	212	538
Total debt	5,454	8,856	9,015	8,187
Cash and equivalents	1,449	1,719	390	1,083
Shareholders equity	24,378	24,439	24,722	26,147
Earnings per share (₹)	1.88	0.81	1.53	4.60

Not collected yet for this company: Dividend per share. These come from the filings, not the daily price feed.

Recent quarters

₹ crore · Most recent first

Quarter ended	Revenue	Operating profit	Net profit	EPS (₹)
30 Jun 2026	7,698	422	377	1.08
31 Mar 2026	12,310	1,665	1,290	3.71
31 Dec 2025	8,473	467	390	1.12
30 Jun 2025	5,487	-612	-456	-1.31
31 Mar 2025	8,993	747	504	1.45

Developments

1 positive · 1 negative

Neutral2 days ago

BHEL Is Set For Leadership Overhaul as CMD & Key Directors To Retire By Feb 2027

Bharat Heavy Electricalsmid cap

IndianMandarins12 Sept 2026, 2:44 pm IST

Classification & context · Routine

No supported direction in the headline — that is not the same as unimportant. This classifies the headline only, not the full article. It is not a recommendation.

A real announcement — a product, a partnership, an appearance — that is unlikely to change the financials.

Classifier confidence: 0.35. This is not the probability that the report is true.

Neutral2 days ago

BHEL Prepares for Leadership Overhaul as CMD and Key Directors Retire in Early 2027

Bharat Heavy Electricalsmid cap

PSU Connect12 Sept 2026, 1:36 pm IST

Classification & context · Routine

No supported direction in the headline — that is not the same as unimportant. This classifies the headline only, not the full article. It is not a recommendation.

A real announcement — a product, a partnership, an appearance — that is unlikely to change the financials.

Classifier confidence: 0.35. This is not the probability that the report is true.

Neutral2 days ago

MIRAEAMC - MOMMIDCAP ETF - Live MIRAEAMC - MOMMIDCAP ETF Share Price, Returns & More

Bharat Heavy Electricalsmid cap

Upstox12 Sept 2026, 1:35 pm IST

Classification & context · Routine

No supported direction in the headline — that is not the same as unimportant. This classifies the headline only, not the full article. It is not a recommendation.

A real announcement — a product, a partnership, an appearance — that is unlikely to change the financials.

Classifier confidence: 0.35. This is not the probability that the report is true.

Reads positiveOrders3 days ago

Tiger Logistics wins ₹4 crore BHEL order for import break bulk project

Bharat Heavy Electricalsmid cap

scanx.trade11 Sept 2026, 10:19 pm IST

Classification & context · Moves the numbers

The headline states a business fact and a direction that helps it. This classifies the headline only, not the full article. It is not a recommendation.

Names an event that should show up in revenue, profit, debt, capacity or approvals.

Classifier confidence: 0.80. This is not the probability that the report is true.

Neutral3 days ago

BHEL Share Price

Bharat Heavy Electricalsmid cap

Upstox11 Sept 2026, 12:30 pm IST

Classification & context · Routine

No supported direction in the headline — that is not the same as unimportant. This classifies the headline only, not the full article. It is not a recommendation.

A real announcement — a product, a partnership, an appearance — that is unlikely to change the financials.

Classifier confidence: 0.35. This is not the probability that the report is true.

NeutralDividend3 days ago

BHEL fixes record date July 17 for final dividend of ₹1.40 per share

Bharat Heavy Electricalsmid cap

scanx.trade11 Sept 2026, 4:38 am IST

Classification & context · Moves the numbers

No supported direction in the headline — that is not the same as unimportant. This classifies the headline only, not the full article. It is not a recommendation.

Names an event that should show up in revenue, profit, debt, capacity or approvals.

Classifier confidence: 0.35. This is not the probability that the report is true.

Neutral3 days ago

Power Equipment PSU Stock Up 571% in 5 Years: What Drove It

Bharat Heavy Electricalsmid cap

Univest11 Sept 2026, 2:51 am IST

Classification & context · Routine

No supported direction in the headline — that is not the same as unimportant. This classifies the headline only, not the full article. It is not a recommendation.

A real announcement — a product, a partnership, an appearance — that is unlikely to change the financials.

Classifier confidence: 0.35. This is not the probability that the report is true.

NeutralExpansion4 days ago

BHEL outpaces NTPC by 80 points in six months; Kotak questions thermal capacity outlook

NTPClarge cap Bharat Heavy ElectricalsMentioned Kotak Mahindra BankMentioned

Moneycontrol.com10 Sept 2026, 12:54 pm IST

Classification & context · Moves the numbers

No supported direction in the headline — that is not the same as unimportant. This classifies the headline only, not the full article. It is not a recommendation.

Names an event that should show up in revenue, profit, debt, capacity or approvals.

Classifier confidence: 0.35. This is not the probability that the report is true.

Neutral4 days ago

BHEL: Is the Defence Stock Overvalued at the Current Market Price?

Bharat Heavy Electricalsmid cap

Trade Brains10 Sept 2026, 11:19 am IST

Classification & context · Commentary

No supported direction in the headline — that is not the same as unimportant. This classifies the headline only, not the full article. It is not a recommendation.

Somebody's reading of events rather than an event. Worth the argument; not a filing.

Classifier confidence: 0.35. This is not the probability that the report is true.

Neutral4 days ago

CMD and two Directors of BHEL set to retire in early 2027

Bharat Heavy Electricalsmid cap

Whispers in the Corridors10 Sept 2026, 9:26 am IST

Classification & context · Routine

No supported direction in the headline — that is not the same as unimportant. This classifies the headline only, not the full article. It is not a recommendation.

A real announcement — a product, a partnership, an appearance — that is unlikely to change the financials.

Classifier confidence: 0.35. This is not the probability that the report is true.

Reads negativeOrders5 days ago

Madras High Court Says Appeal Against Fresh Assessment Order Statutorily Barred, Remands BHEL Matter

Bharat Heavy Electricalsmid cap

LiveLawBiz9 Sept 2026, 2:17 pm IST

Classification & context · Moves the numbers

The headline states a business fact and a direction that hurts it. This classifies the headline only, not the full article. It is not a recommendation.

Names an event that should show up in revenue, profit, debt, capacity or approvals.

Classifier confidence: 0.75. This is not the probability that the report is true.

Neutral5 days ago

BHEL Share Price Rises 2.11%: Valuation and Sector View

Bharat Heavy Electricalsmid cap

Univest9 Sept 2026, 1:03 pm IST

Classification & context · Routine

No supported direction in the headline — that is not the same as unimportant. This classifies the headline only, not the full article. It is not a recommendation.

A real announcement — a product, a partnership, an appearance — that is unlikely to change the financials.

Classifier confidence: 0.35. This is not the probability that the report is true.

NeutralOrders5 days ago

NTPC vs BHEL: Kotak flags 80% performance gap — Is market overestimating thermal order runway?

Bharat Heavy Electricalsmid cap Kotak Mahindra BankMentioned NTPCMentioned

financialexpress.com9 Sept 2026, 9:46 am IST

Classification & context · Commentary

No supported direction in the headline — that is not the same as unimportant. This classifies the headline only, not the full article. It is not a recommendation.

Somebody's reading of events rather than an event. Worth the argument; not a filing.

Classifier confidence: 0.35. This is not the probability that the report is true.

Neutral5 days ago

Stocks to buy: Apollo Micro Systems, BHEL among 5 shares Bajaj Broking's expert recommends for 1 to 6 months

Bharat Heavy Electricalsmid cap

Livemint9 Sept 2026, 8:00 am IST

Classification & context · Routine

No supported direction in the headline — that is not the same as unimportant. This classifies the headline only, not the full article. It is not a recommendation.

A real announcement — a product, a partnership, an appearance — that is unlikely to change the financials.

Classifier confidence: 0.35. This is not the probability that the report is true.

Neutral6 days ago

BHEL appoints statutory and branch auditors for FY27

Bharat Heavy Electricalsmid cap

scanx.trade8 Sept 2026, 5:04 pm IST

Classification & context · Moves the numbers

No supported direction in the headline — that is not the same as unimportant. This classifies the headline only, not the full article. It is not a recommendation.

Names an event that should show up in revenue, profit, debt, capacity or approvals.

Classifier confidence: 0.35. This is not the probability that the report is true.

NeutralOrders6 days ago

BHEL Appoints Statutory & Branch Auditors for FY 2026-27 | C&AG Order

Bharat Heavy Electricalsmid cap

PSU Connect8 Sept 2026, 4:26 pm IST

Classification & context · Moves the numbers

No supported direction in the headline — that is not the same as unimportant. This classifies the headline only, not the full article. It is not a recommendation.

Names an event that should show up in revenue, profit, debt, capacity or approvals.

Classifier confidence: 0.35. This is not the probability that the report is true.

Neutral6 days ago

BHEL: Appoints Joint Statutory Auditors for FY 2026-27

Bharat Heavy Electricalsmid cap

InvestyWise8 Sept 2026, 3:46 pm IST

Classification & context · Moves the numbers

No supported direction in the headline — that is not the same as unimportant. This classifies the headline only, not the full article. It is not a recommendation.

Names an event that should show up in revenue, profit, debt, capacity or approvals.

Classifier confidence: 0.35. This is not the probability that the report is true.

Neutral6 days ago

BHEL, NTPC shares: 2 reasons for stark divergence in PSU stock performance - BusinessToday

NTPClarge cap Bharat Heavy ElectricalsMentioned

IndiaIPO8 Sept 2026, 12:57 pm IST

Classification & context · Routine

No supported direction in the headline — that is not the same as unimportant. This classifies the headline only, not the full article. It is not a recommendation.

A real announcement — a product, a partnership, an appearance — that is unlikely to change the financials.

Classifier confidence: 0.35. This is not the probability that the report is true.

Neutral6 days ago

BHEL Vs NTPC: Kotak explains what the divergence is share price performance indicating - CNBC TV18

NTPClarge cap Bharat Heavy ElectricalsMentioned Kotak Mahindra BankMentioned

LinkedIn8 Sept 2026, 12:22 pm IST

Classification & context · Routine

No supported direction in the headline — that is not the same as unimportant. This classifies the headline only, not the full article. It is not a recommendation.

A real announcement — a product, a partnership, an appearance — that is unlikely to change the financials.

Classifier confidence: 0.35. This is not the probability that the report is true.

Neutral6 days ago

BHEL vs NTPC: KIE explains the sharp divergence between 2 power stocks

NTPClarge cap Bharat Heavy ElectricalsMentioned

Business Standard8 Sept 2026, 12:21 pm IST

Classification & context · Routine

No supported direction in the headline — that is not the same as unimportant. This classifies the headline only, not the full article. It is not a recommendation.

A real announcement — a product, a partnership, an appearance — that is unlikely to change the financials.

Classifier confidence: 0.35. This is not the probability that the report is true.

About the business

Bharat Heavy Electricals Limited operates as power plant equipment manufacturer in India and internationally. The company operates in two segments, Power and Industry. It offers equipment supplies; spares and services; and undertakes engineering, procurement, and construction works for coal and lignite, gas, hydro and nuclear power plant, transportation, transmission, defence, aerospace, captive power plants, process, renewables, upstream and downstream oil and gas, e-mobility and energy storage, and other industries. The company also provides coal based, gas-based, nuclear, and hydro power plants, as well as solar power systems; rail, transportation and transmission systems; defense and aerospace products; industrial systems; and battery energy storage system and e-mobility solutions. In addition, it offers steam generators and steam generator auxiliaries, soot blowers, valves, piping systems, seamless steel tubes, valves, pressurized fluidized bed gasifiers, steam and gas turbines, turbo generators, industrial sets, castings and forgings, condenser and heat exchangers, pumps, Hydro Power Plants, compressors, and automation and control systems. Further, the company provides software system solutions, medium voltage vacuum switchgears, on load tap changers, LT switchgears and bus ducts, transformers and reactors, capacitors, bushings, control gears, insulators and ceramics, and electrical machines. It also provides rail transportation systems and equipment, defence and aerospace, oil field equipment, and fabricated equipment and mechanical packages. The company has a strategic collaboration with E2S Company Limited for the development of excitation systems for synchronous machines. The company was incorporated in 1964 and is based in New Delhi, India.

Industry: Specialty Industrial Machinery

www.bhel.com

Data confidence

Prices, fundamentals and developments last verified 13 Sept 2026. Fundamentals are sourced from public filings feeds; interpretation is shown separately from figures.

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