NSE: BHEL · BSE: 500103 · ISIN INE257A01026
Bharat Heavy Electricals Limited stock analysis
Bharat Heavy Electricals Limited ranks #509 in the TickerSutra evidence-ranked universe with a score of 63/100 and 95% data confidence. The latest captured fundamentals show ROCE of 9.1%, quarterly sales growth of 40.3% and quarterly profit growth of 182.7%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Strong CFO/EBITDA of 2.27×
- Institutional ownership is rising
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Valuation is above 40× earnings
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹21,211cr | ₹828cr | ₹445cr | 3.9% |
| 2023 | ₹23,365cr | ₹1,044cr | ₹654cr | 4.5% |
| 2024 | ₹23,893cr | ₹711cr | ₹282cr | 3.0% |
| 2025 | ₹28,339cr | ₹1,399cr | ₹534cr | 4.9% |
| 2026 | ₹33,782cr | ₹2,572cr | ₹1,600cr | 8.0% |
| TTM | ₹35,993cr | ₹3,383cr | ₹2,432cr | 9.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Confirmation of Redemption/Payment of Interest and Principal
RoutineBoard Meeting IntimationNSE · 29 Sept 2026 · Structured filingBHARAT HEAVY ELECTRICALS LIMITED has informed the Exchange about Board Meeting to be held on 14-Oct-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Quarterly ended September 2026 .
BHARAT HEAVY ELECTRICALS LIMITED has informed the Exchange about Board Meeting to be held on 14-Oct-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Quarterly ended September 2026 .
Open original XBRL sourceBharat Heavy Electricals Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 14/10/2026 ,inter alia, to consider and approve the Unaudited Financial ....
RoutineConfirmation of Redemption/Payment of Interest and PrincipalNSE · 25 Sept 2026Confirmation of Redemption/Payment of Interest and Principal
RoutineChange in Directors/KMP/SMP/Auditor/RTABSE · 25 Sept 2026BHARAT HEAVY ELECTRICALS LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA
MANAGEMENT COMMENTARY
Signals from filed documents
Super Rapid Gun Mount (SRGM) Frontline Weapon System of the Indian Naval Vessel Bharat Heavy Electricals Limited 42 Further, BHEL has end-to-end capability to design, engineer, manufacture Compact Heat Exchangers and Pump Modules for airborne applications and works in close association with DRDO, ADA etc to meet program requirements. Achievements during the year • Orders secured for IPMS, BCCS and HRMS for Fleet Supp
This demonstrates BHEL's growing presence across sectors such as Hydro and Nuclear Power, Coal-to-Chemicals, Rail Transportation, Defence and Aerospace, Power Transmission, Oil & Gas, Industrial Products, and renewable energy businesses. The Company's all-time high order book supports higher volumes of operations, enabling potential for enhanced operating leverage and profitability. Project Execution and Delivery The
The status of the Company's order book as on 31 March 2026 is summarised in the graphs shared on page 21. The Company continued its strong order inflow momentum during FY 2025–26, with orders worth I75,916 Crore secured during the year, including export orders of I209 Crore. The company has been successful in receiving several prestigious orders in core thermal power business, as well as in Transmission, Transportati
BHEL has maintained ISMS certification since 2005 and has successfully transitioned to ISO/IEC 27001:2022, reinforcing its commitment to strong governance and alignment with global best practices. BHEL is committed to continuous enhancement of its cybersecurity posture in line with emerging threats and regulatory expectations. For and on behalf of the Board of Directors of BHARAT HEAVY ELECTRICALS LTD.
Remuneration Policy BHEL being a Public Sector Undertaking, the appointment and remuneration of Chairman & Managing Director/ Functional Directors are decided by the Government of India. The terms of appointment of Chairman & Managing Director/ Functional Directors, as approved by the President of India, provide for fixation of certain perks and benefits, as per rules of BHEL. Terms of Reference The terms of referenc
of Shares held Voting strength (%) No. of Shares held Promoters Holding Indian Promoters President of India 58.17 2025440587 63.17 2199650402 Total Promoter holding 58.17 2025440587 63.17 2199650402 Non-promoters Holding Banks, Financial Institutions, Insurance Companies, Qualified Institutional Buyers, Alternative Investment Fund, Sovereign Wealth Fund 11.10 386655324 10.30 358867677 Foreign Institutional Investors
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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