BHEL - Bharat Heavy Electricals Ltd. Share Price

Electrical Equipment

₹228.33+5.96(+2.68%)

Market Open as of Apr 28, 2025, 14:05 IST

What does Bharat Heavy Electricals Ltd. do?

Heavy Electrical Equipment•Capital Goods•Mid Cap

Bharat Heavy Electricals Limited (BHEL) is a prominent player in the heavy electrical equipment sector, with a stock ticker symbol of BHEL and a market capitalization of Rs. 68,579.2 Crores.

The company operates both in India and internationally, focusing on engineering and manufacturing across two primary segments: Power and Industry. BHEL provides a wide range of products and services, which include:

Energy Solutions: This encompasses coal-based, gas-based, nuclear, hydro power plants, and solar power systems.
Transmission Systems and Defense Products: The company manufactures various transmission systems and products for the defense and aerospace sectors.
Industrial Systems: Offering energy storage systems, e-mobility solutions, and various types of steam generators and turbines.
Mechanical and Engineering Solutions: BHEL produces a variety of components including seamless steel tubes, pumps, industrial sets, and more.
Software Systems and Electrical Equipment: The company also specializes in automation, control systems, switchgears, transformers, capacitors, and more.

BHEL has a diverse clientele across multiple industries including power generation (thermal and renewable), transportation, oil and gas, water treatment, and other sectors.

Incorporated in 1964 and headquartered in New Delhi, India, Bharat Heavy Electricals reported a trailing 12-month revenue of Rs. 28,079 Crores and has achieved a remarkable revenue growth of 36.1% over the past three years.

Additionally, the company distributes dividends to its investors, boasting a dividend yield of 0.34% per year, with a recent dividend payout of Rs. 0.65 per share.

Industry Group:Electrical Equipment

Employees:42,880

Website:www.bhel.com

Income Statement for Bharat Heavy Electricals

Standalone figures (in Rs. Crores) / View Consolidated Data

AnnualQuarterly

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020	Mar-2019
Revenue From Operations	2.3%	23,893	23,365	21,211	17,308	21,486	30,349
Other Income	14.2%	588	515	368	370	581	678
Total Income	2.5%	24,481	23,880	21,579	17,678	22,067	31,027
Cost of Materials	8.1%	17,244	15,954	9,848	11,071	14,727	18,837
Purchases of stock-in-trade	-	0	0	4,142	0	0	0
Employee Expense	-1.3%	5,629	5,701	5,517	5,372	5,403	6,261
Finance costs	40.4%	731	521	355	373	507	287
Depreciation and Amortization	-4.2%	249	260	314	473	503	475
Other expenses	-19.7%	844	1,051	434	3,490	2,604	4,182
Total Expenses	3.5%	24,260	23,430	21,142	21,290	22,729	28,969
Profit Before exceptional items and Tax	-51.2%	220	450	437	-3,611.6	-662.11	2,058
Total profit before tax	-51.2%	220	450	437	-3,611.6	-662.11	2,058
Current tax	-1.2%	-112.56	-111.22	-77.13	16	1.52	735
Deferred tax	-35.7%	73	113	104	-910.28	809	107
Total tax	-3962.9%	-39.56	2.05	27	-894.46	811	842
Total profit (loss) for period	-42.1%	260	448	410	-2,717.14	-1,472.97	1,215
Other comp. income net of taxes	-356.5%	-82.41	-17.27	77	20	-273.88	-119.18
Total Comprehensive Income	-59%	177	430	487	-2,697.16	-1,746.85	1,096
Earnings Per Share, Basic	-186.2%	0.75	1.29	1.18	-7.8	-4.23	3.35
Earnings Per Share, Diluted	-186.2%	0.75	1.29	1.18	-7.8	-4.23	0

Description	(%) Q/Q	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Revenue From Operations	10.5%	7,277	6,584	5,485	8,260	5,504	5,125
Other Income	-1.7%	116	118	110	165	104	197
Total Income	10.3%	7,393	6,703	5,595	8,425	5,608	5,322
Cost of Materials	2.2%	4,895	4,789	3,725	5,755	3,939	3,974
Employee Expense	1%	1,482	1,467	1,435	1,485	1,442	1,282
Finance costs	-8.5%	184	201	162	193	190	180
Depreciation and Amortization	13.6%	68	60	59	68	61	60
Other expenses	120.4%	907	412	342	527	183	604
Total Expenses	10%	7,225	6,571	5,875	7,794	5,817	5,753
Profit Before exceptional items and Tax	28.2%	169	132	-280.11	631	-208.91	-431.28
Total profit before tax	28.2%	169	132	-280.11	631	-208.91	-431.28
Current tax	-93.4%	1.56	9.54	2.91	-29.68	6.44	-89.32
Deferred tax	64%	42	26	-70.5	176	-52.58	-108.55
Total tax	26.5%	44	35	-67.59	147	-46.14	-197.87
Total profit (loss) for period	29.2%	125	97	-212.52	484	-162.77	-233.41
Other comp. income net of taxes	0%	-23.83	-23.84	-23.83	-45.87	-12.18	-12.18
Total Comprehensive Income	38.9%	101	73	-236.35	438	-174.95	-245.59
Earnings Per Share, Basic	11.1%	0.36	0.28	-0.61	1.39	-0.47	-0.67
Earnings Per Share, Diluted	11.1%	0.36	0.28	0.61	1.39	-0.47	-0.67

Consolidated figures (in Rs. Crores) / View Standalone Data

AnnualQuarterly

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020	Mar-2019
Revenue From Operations	2.3%	23,893	23,365	21,211	17,309	21,490	30,349
Other Income	11.7%	546	489	355	348	564	678
Total Income	2.5%	24,439	23,854	21,566	17,657	22,054	31,027
Cost of Materials	8.1%	17,244	15,954	9,848	11,071	14,729	18,837
Purchases of stock-in-trade	-	0	0	4,142	0	0	0
Employee Expense	-1.3%	5,629	5,701	5,519	5,378	5,409	6,261
Finance costs	40.4%	731	521	356	374	508	287
Depreciation and Amortization	-4.2%	249	260	314	473	503	475
Other expenses	-19.7%	844	1,051	434	3,490	2,605	4,182
Total Expenses	3.5%	24,260	23,430	21,146	21,297	22,739	28,969
Profit Before exceptional items and Tax	-57.8%	179	423	420	-3,640.07	-684.79	2,058
Total profit before tax	-57.8%	179	423	420	-3,640.07	-684.79	2,058
Current tax	-1.2%	-112.56	-111.22	-77.13	16	1.52	735
Deferred tax	-35.7%	73	113	103	-912.05	808	107
Total tax	-3962.9%	-39.56	2.05	26	-896.23	809	842
Total profit (loss) for period	-41%	282	477	445	-2,699.7	-1,468.35	1,215
Other comp. income net of taxes	-372.6%	-82.55	-16.68	77	20	-273.74	-119.18
Total Comprehensive Income	-56.7%	200	461	522	-2,679.65	-1,742.09	1,096
Earnings Per Share, Basic	-151.4%	0.81	1.37	1.28	-7.75	-4.22	3.35
Earnings Per Share, Diluted	-151.4%	0.81	1.37	1.28	-7.75	-4.22	3.35

Description	(%) Q/Q	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Revenue From Operations	10.5%	7,277	6,584	5,485	8,260	5,504	5,125
Other Income	-2.7%	108	111	97	157	96	180
Total Income	10.3%	7,385	6,695	5,582	8,417	5,600	5,305
Cost of Materials	2.2%	4,895	4,789	3,725	5,755	3,939	3,974
Employee Expense	1%	1,482	1,467	1,435	1,485	1,442	1,282
Finance costs	-8.5%	184	201	162	193	190	180
Depreciation and Amortization	13.6%	68	60	59	68	61	60
Other expenses	120.4%	907	412	342	527	183	604
Total Expenses	10%	7,225	6,571	5,875	7,794	5,817	5,753
Profit Before exceptional items and Tax	28.2%	160	125	-293.2	623	-217.24	-447.94
Total profit before tax	28.2%	160	125	-293.2	623	-217.24	-447.94
Current tax	-93.4%	1.56	9.54	2.91	-29.68	6.44	-89.32
Deferred tax	64%	42	26	-70.5	176	-52.58	-108.55
Total tax	26.5%	44	35	-67.59	147	-46.14	-197.87
Total profit (loss) for period	27.6%	135	106	-211.4	490	-148.77	-238.12
Other comp. income net of taxes	-0.5%	-23.91	-23.79	-23.6	-46.04	-12.22	-12.15
Total Comprehensive Income	35.8%	111	82	-235	444	-160.99	-250.27
Earnings Per Share, Basic	12.9%	0.39	0.3	-0.61	1.41	-0.43	-0.68
Earnings Per Share, Diluted	12.9%	0.39	0.3	-0.61	1.41	-0.43	-0.68

Pros

Growth: Good revenue growth. With 36.1% growth over past three years, the company is going strong.

Balance Sheet: Reasonably good balance sheet.

Technicals: Bullish SharesGuru indicator.

Size: It is among the top 200 market size companies of india.

Buy Backs: Company has bought back it's stock in the past which is a good thing.

Smart Money: Smart money has been increasing their position in the stock.

Cons

No major cons observed.

The Good, Bad and Ugly

Growth

Profitability

Size

Dilution Rank

Balance Sheet

Momentum

Technicals

Smart Money

Insider Trading

Sector Comparison: BHEL vs Electrical Equipment

Comprehensive comparison against sector averages

Comparative Metrics

BHEL metrics compared to Electrical

Category	BHEL	Electrical
PE	149.17	65.92
PS	2.76	5.53
Growth	15.3 %	14.5 %

Performance Comparison

BHEL vs Electrical (2021 - 2025)

Key Insights

1. BHEL is among the Top 5 Heavy Electrical Equipment companies by market cap.
2. The company holds a market share of 23.2% in Heavy Electrical Equipment.
3. The company is growing at an average growth rate of other Heavy Electrical Equipment companies.

Revenue Breakdown

Analysis of Bharat Heavy Electricals's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.

Revenue

Last Updated: Dec 31, 2024

Description	Share	Value
Power	76.8%	5.6 kCr
Industry	23.2%	1.7 kCr
Total		7.3 kCr

Share Holdings

Understand Bharat Heavy Electricals ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.

Holding Pattern

Major Shareholders

Share Holding Details

As of 2025-03-31

Shareholder Name	Holding %
PRESIDENT OF INDIA	63.17%
LIFE INSURANCE CORPORATION OF INDIA	6.72%
NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA SMALL CAP FUND	2.47%
NPS TRUST- A/C SBI PENSION FUND SCHEME - STATE GOVT	1.04%
Employees	0.02%
Foreign Portfolio Investor (Category - III)	0%

Overall Distribution

Distribution across major stakeholders

Ownership Distribution

Distribution across major institutional holders

Valuation
Market Cap	77.43 kCr
Price/Earnings (Trailing)	149.17
Price/Sales (Trailing)	2.76
EV/EBITDA	48.08
Price/Free Cashflow	-19.64
MarketCap/EBT	125.94

Fundamentals
Revenue (TTM)	28.08 kCr
Rev. Growth (Yr)	31.88%
Rev. Growth (Qtr)	10.3%
Earnings (TTM)	519.07 Cr
Earnings Growth (Yr)	190.54%
Earnings Growth (Qtr)	26.9%

Profitability
Operating Margin	2.19%
EBT Margin	2.19%
Return on Equity	2.15%
Return on Assets	0.84%
Free Cashflow Yield	-5.09%

Cash Flow for Bharat Heavy Electricals

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022
Finance costs	40.4%	731	521	355
Change in inventories	-160.6%	-503.04	-192.4	603
Depreciation	-4.2%	249	260	314
Unrealised forex losses/gains	113.7%	56	-401.85	19
Dividend income	64%	42	26	30
Adjustments for interest income	17.4%	494	421	303
Net Cashflows from Operations	-361.5%	-3,935.07	-851.94	251
Income taxes paid (refund)	-100.3%	-222.17	-110.42	-408.88
Net Cashflows From Operating Activities	-400.2%	-3,712.9	-741.52	660
Proceeds from sales of PPE	17.2%	8.92	7.76	6.9
Purchase of property, plant and equipment	23.5%	232	188	169
Proceeds from sales of investment property	-100.8%	0.8	25	0
Dividends received	64%	42	26	30
Interest received	59.2%	399	251	258
Other inflows (outflows) of cash	-18.1%	1,113	1,359	-1,251.12
Net Cashflows From Investing Activities	-10.1%	1,331	1,480	-1,125.33
Proceeds from borrowings	435.5%	3,423	640	0
Repayments of borrowings	-	39	0	89
Dividends paid	0%	139	139	0.3
Interest paid	66.1%	589	355	182
Net Cashflows from Financing Activities	2917%	2,656	89	-329.5
Net change in cash and cash eq.	-67%	274	828	-794.56

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022
Finance costs	40.4%	731	521	356
Change in inventories	-160.6%	-503.04	-192.4	603
Depreciation	-4.2%	249	260	314
Unrealised forex losses/gains	113.7%	56	-401.85	19
Adjustments for interest income	17.4%	494	421	303
Net Cashflows from Operations	-361.5%	-3,935.07	-851.94	251
Income taxes paid (refund)	-100.3%	-222.17	-110.42	-408.88
Net Cashflows From Operating Activities	-400.2%	-3,712.9	-741.52	660
Proceeds from sales of PPE	17.2%	8.92	7.76	6.9
Purchase of property, plant and equipment	23.5%	232	188	169
Proceeds from sales of investment property	-100.8%	0.8	25	0
Dividends received	64%	42	26	30
Interest received	59.2%	399	251	258
Other inflows (outflows) of cash	-18.1%	1,113	1,359	-1,251.12
Net Cashflows From Investing Activities	-10.1%	1,331	1,480	-1,125.32
Proceeds from borrowings	435.5%	3,423	640	0
Repayments of borrowings	-	39	0	88
Dividends paid	0%	139	139	0.3
Interest paid	66.1%	589	355	183
Other inflows (outflows) of cash	-	0	0	7.28
Net Cashflows from Financing Activities	2917%	2,656	89	-322.21
Net change in cash and cash eq.	-67%	274	828	-787.28

Balance Sheet for Bharat Heavy Electricals

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Cash and cash equivalents	-60.7%	721	1,835	1,108	1,561	1,501	733
Loans, current	-	0	0	0	0	0	0
Total current financial assets	6.3%	11,889	11,183	10,058	10,049	10,417	10,390
Inventories	13%	8,161	7,221	7,482	6,756	6,878	6,560
Current tax assets	-19.3%	185	229	162	226	194	119
Total current assets	7.6%	37,164	34,546	31,440	30,082	27,502	27,862
Property, plant and equipment	-1.2%	2,481	2,511	2,393	2,409	2,304	2,336
Capital work-in-progress	10.3%	311	282	323	345	432	422
Non-current investments	0%	668	668	670	670	670	670
Loans, non-current	-	0	0	0	0	0	0
Total non-current financial assets	-17.4%	3,387	4,098	4,415	4,169	4,109	3,960
Total non-current assets	0.6%	25,030	24,872	29,910	29,722	29,747	28,846
Total assets	4.7%	62,194	59,417	61,350	59,804	57,249	56,708
Borrowings, non-current	56.5%	37	24	29	34	26	35
Total non-current financial liabilities	-12.4%	2,315	2,642	2,570	2,483	2,445	2,382
Provisions, non-current	-15.4%	2,106	2,489	3,922	4,101	3,777	3,771
Total non-current liabilities	15.1%	10,628	9,234	9,218	9,190	8,504	8,366
Borrowings, current	2.9%	9,091	8,833	9,012	5,420	5,723	4,795
Total current financial liabilities	1.3%	19,193	18,948	18,636	16,593	15,000	13,668
Provisions, current	31.9%	3,057	2,318	3,210	2,797	3,122	3,067
Total current liabilities	6.4%	26,965	25,333	25,619	23,351	22,014	21,371
Total liabilities	8.8%	37,594	34,567	34,837	32,542	30,518	29,737
Equity share capital	0%	696	696	696	696	696	696
Total equity	-1%	24,600	24,851	26,513	27,262	26,731	26,971
Total equity and liabilities	4.7%	62,194	59,417	61,350	59,804	57,249	56,708

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Cash and cash equivalents	-60.7%	721	1,835	1,108	1,561	1,501	733
Loans, current	-	0	0	0	0	0	0
Total current financial assets	6.3%	11,889	11,183	10,058	10,049	10,417	10,390
Inventories	13%	8,161	7,221	7,482	6,756	6,878	6,560
Current tax assets	-19.3%	185	229	162	226	194	119
Total current assets	7.6%	37,164	34,546	31,440	30,082	27,502	27,862
Property, plant and equipment	-1.2%	2,481	2,511	2,393	2,409	2,304	2,336
Capital work-in-progress	10.3%	311	282	323	345	432	422
Non-current investments	0%	1.19	1.19	3.13	3.13	3.29	3.29
Loans, non-current	-	0	0	0	0	0	0
Total non-current financial assets	-20.7%	2,721	3,432	3,748	3,503	3,443	3,294
Total non-current assets	0.7%	24,629	24,460	29,479	29,288	29,289	28,382
Total assets	4.7%	61,793	59,006	60,919	59,370	56,790	56,244
Borrowings, non-current	56.5%	37	24	29	34	26	35
Total non-current financial liabilities	-12.4%	2,315	2,642	2,570	2,483	2,445	2,382
Provisions, non-current	-15.4%	2,106	2,489	3,922	4,101	3,777	3,771
Total non-current liabilities	15.1%	10,628	9,234	9,218	9,190	8,504	8,366
Borrowings, current	2.9%	9,091	8,833	9,012	5,420	5,723	4,795
Total current financial liabilities	1.3%	19,193	18,948	18,636	16,593	15,000	13,668
Provisions, current	31.9%	3,057	2,318	3,210	2,797	3,122	3,067
Total current liabilities	6.4%	26,965	25,333	25,619	23,351	22,014	21,371
Total liabilities	8.8%	37,594	34,567	34,837	32,542	30,518	29,737
Equity share capital	0%	696	696	696	696	696	696
Non controlling interest	-	-	-	-	-	-	-
Total equity	-1%	24,199	24,439	26,082	26,828	26,272	26,507
Total equity and liabilities	4.7%	61,793	59,006	60,919	59,370	56,790	56,244

Investor Care
Dividend Yield	0.34%
Dividend/Share (TTM)	0.65
Shares Dilution (1Y)	0.00%
Diluted EPS (TTM)	1.49

Financial Health
Current Ratio	1.38
Debt/Equity	0.38
Debt/Cashflow	-0.41

Is Bharat Heavy Electricals Better than it's peers?

Detailed comparison of Bharat Heavy Electricals against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.

Ticker	Name	Mkt Cap	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LT	Larsen & ToubroCivil Construction	4.5 LCr	2.52 LCr	-5.01%	-10.41%	27.22	1.78	+16.75%	+10.26%
ABB	ABB IndiaHeavy Electrical Equipment	1.17 LCr	12.54 kCr	-0.45%	-14.50%	62.26	9.29	+16.69%	+50.69%
SIEMENS	SiemensHeavy Electrical Equipment	1.01 LCr	21.94 kCr	-47.70%	-50.55%	35.7	4.6	+4.84%	+41.00%
CGPOWER	CG Power and Industrial SolutionsHeavy Electrical Equipment	96.79 kCr	9.49 kCr	-0.42%	+16.75%	103.79	10.2	+21.08%	-42.44%
THERMAX	ThermaxHeavy Electrical Equipment	41.04 kCr	10.3 kCr	-0.97%	-19.91%	67.41	3.98	+13.10%	-0.51%
BGRENERGY	BGR ENERGY SYSTEMSCivil Construction	709.64 Cr	611.57 Cr	+14.68%	+170.91%	-1.39	1.16	-38.20%	+53.85%

Latest News and Updates from Bharat Heavy Electricals

Updated Mar 28, 2025

Bharat Heavy Electricals Ltd. (BHEL) has made significant strides in securing major orders, most notably a ₹7,500 crore contract from Gujarat State Electricity Corporation, which has propelled its share price upward. The company has a robust order book now totaling ₹1.7 trillion, indicating a positive outlook amid a strategic shift in government energy policies. However, BHEL faces challenges in improving its profitability margins compared to competitors, which it needs to address for sustainable growth.

The Bad News

Mint

Despite the recent surge in orders, BHEL faces challenges with low Ebitda margins compared to its competitors.

Moneycontrol

BHEL's stock has declined 11% over the past year, indicating some volatility in its performance despite the recent order wins.

The Financial Express

While BHEL's shares are on an upward trend, they remain 37% lower than their 52-week high, reflecting ongoing market challenges.

The Good News

Mint

BHEL shares surged 6% after securing a ₹7,500 crore order for an 800 MW thermal power project, boosting its order book to ₹1.7 trillion.

Mint

The company anticipates strong earnings growth of 149% CAGR over FY24-27, driven by recent order inflows.

IndiaInfoline

BHEL has recently secured additional significant contracts worth ₹6,700 crore and ₹6,200 crore, showcasing a strong order acquisition trend.

This information is AI-generated and may contain inaccuracies. Please verify from multiple sources.

Price to Sales Ratio

Latest reported: ₹3

Revenue (Last 12 mths)

Latest reported: ₹28 kCr

Net Income (Last 12 mths)

Latest reported: ₹519 Cr

BHEL - Bharat Heavy Electricals Ltd. Share Price

What does Bharat Heavy Electricals Ltd. do?

Share Holdings

Holding Pattern

Share Holding Details

Overall Distribution

Ownership Distribution

Valuation

Fundamentals

Profitability

Investor Care

Financial Health

The Bad News

The Good News

Price to Sales Ratio

Revenue (Last 12 mths)

Net Income (Last 12 mths)

Updates from Bharat Heavy Electricals