About
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.
Key Metrics
as of Sep 2026Market Cap150,112 Cr
P/E61.70
Div Yield0.32 %
Book Value₹75.10
52w High₹447.00
52w Low₹214.00
Face Value₹2.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 7,698.00 | 12,310.00 | 8,473.00 | 7,512.00 | 5,487.00 | 8,993.00 | 7,277.00 | 6,584.00 | 5,485.00 | 8,260.00 | 5,504.00 | 5,125.00 | 5,003.00 |
| Expenses | 7,194.00 | 10,557.00 | 7,928.00 | 6,931.00 | 6,024.00 | 8,162.00 | 6,973.00 | 6,309.00 | 5,654.00 | 7,532.00 | 5,287.00 | 5,279.00 | 5,182.00 |
| Operating Profit | 504.00 | 1,753.00 | 545.00 | 581.00 | -537.00 | 832.00 | 304.00 | 275.00 | -169.00 | 728.00 | 217.00 | -154.00 | -178.00 |
| OPM % | 7.00 | 14.00 | 6.00 | 8.00 | -10.00 | 9.00 | 4.20 | 4.20 | -3.10 | 9.00 | 3.90 | -3.00 | -3.60 |
| Other Income | 226.00 | 260.00 | 235.00 | 189.00 | 185.00 | 159.00 | 126.00 | 128.00 | 111.00 | 170.00 | 118.00 | 192.00 | 130.00 |
| Depreciation | 82.00 | 88.00 | 78.00 | 75.00 | 75.00 | 85.00 | 68.00 | 60.00 | 59.00 | 68.00 | 61.00 | 60.00 | 60.00 |
| Interest | 140.00 | 198.00 | 182.00 | 195.00 | 181.00 | 201.00 | 184.00 | 201.00 | 162.00 | 193.00 | 190.00 | 180.00 | 168.00 |
| Profit before tax | 508.00 | 1,728.00 | 520.00 | 499.00 | -608.00 | 704.00 | 179.00 | 141.00 | -279.00 | 636.00 | 84.00 | -202.00 | -276.00 |
| Tax % | 26.00 | 25.00 | 25.00 | 25.00 | -25.00 | 28.00 | 25.00 | 25.00 | -24.00 | 23.00 | 29.00 | -69.00 | -26.00 |
| Net Profit | 377.00 | 1,290.00 | 390.00 | 375.00 | -456.00 | 504.00 | 135.00 | 106.00 | -211.00 | 490.00 | 60.00 | -63.00 | -205.00 |
| EPS in Rs | 1.08 | 3.71 | 1.12 | 1.08 | -1.31 | 1.45 | 0.39 | 0.30 | -0.61 | 1.41 | 0.17 | -0.18 | -0.59 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 33,782.00 | 28,339.00 | 23,893.00 | 23,365.00 | 21,211.00 | 17,309.00 | 21,463.00 | 30,441.00 | 28,827.00 | 28,465.00 | 25,505.00 | 31,323.00 |
| Expenses | 31,210.00 | 26,940.00 | 23,182.00 | 22,321.00 | 20,383.00 | 20,357.00 | 21,596.00 | 28,409.00 | 27,174.00 | 27,370.00 | 26,862.00 | 29,183.00 |
| Operating Profit | 2,572.00 | 1,399.00 | 711.00 | 1,044.00 | 828.00 | -3,049.00 | -133.00 | 2,032.00 | 1,653.00 | 1,095.00 | -1,357.00 | 2,141.00 |
| OPM % | 8.00 | 4.90 | 3.00 | 4.50 | 3.90 | -18.00 | -0.60 | 7.00 | 6.00 | 3.90 | -5.00 | 7.00 |
| Other Income | 869.00 | 524.00 | 608.00 | 544.00 | 405.00 | 393.00 | 590.00 | 662.00 | 679.00 | 753.00 | 1,492.00 | 1,221.00 |
| Interest | 986.00 | 906.00 | 828.00 | 612.00 | 448.00 | 467.00 | 613.00 | 378.00 | 330.00 | 413.00 | 360.00 | 92.00 |
| Depreciation | 316.00 | 272.00 | 249.00 | 260.00 | 314.00 | 473.00 | 503.00 | 476.00 | 787.00 | 850.00 | 937.00 | 1,082.00 |
| Profit before tax | 2,139.00 | 746.00 | 243.00 | 716.00 | 470.00 | -3,596.00 | -659.00 | 1,840.00 | 1,215.00 | 586.00 | -1,161.00 | 2,187.00 |
| Tax % | 25.00 | 28.00 | -16.00 | 9.00 | 5.00 | -25.00 | 123.00 | 46.00 | 64.00 | 22.00 | -39.00 | 34.00 |
| Net Profit | 1,600.00 | 534.00 | 282.00 | 654.00 | 445.00 | -2,700.00 | -1,468.00 | 1,002.00 | 438.00 | 455.00 | -706.00 | 1,450.00 |
| EPS in Rs | 4.60 | 1.53 | 0.81 | 1.88 | 1.28 | -7.75 | -4.21 | 2.89 | 1.20 | 1.25 | -1.92 | 3.96 |
| Dividend Payout % | 30.00 | 33.00 | 31.00 | 21.00 | 31.00 | 0.00 | 0.00 | 69.00 | 151.00 | 85.00 | -14.00 | 20.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 696.00 | 696.00 | 696.00 | 696.00 | 696.00 | 696.00 | 696.00 | 696.00 | 734.00 | 490.00 | 490.00 | 490.00 |
| Reserves | 25,450.00 | 24,026.00 | 23,742.00 | 23,682.00 | 25,810.00 | 25,287.00 | 27,964.00 | 30,208.00 | 31,601.00 | 31,899.00 | 31,825.00 | 33,717.00 |
| Borrowings | 8,187.00 | 9,015.00 | 8,856.00 | 5,454.00 | 4,830.00 | 4,951.00 | 5,080.00 | 2,598.00 | 110.00 | 156.00 | 211.00 | 1,889.00 |
| Other Liabilities | 42,554.00 | 35,112.00 | 26,489.00 | 27,832.00 | 25,654.00 | 25,025.00 | 26,550.00 | 30,987.00 | 31,495.00 | 29,153.00 | 33,051.00 | 34,887.00 |
| Total Liabilities | 76,888.00 | 68,849.00 | 59,784.00 | 57,664.00 | 56,991.00 | 55,960.00 | 60,291.00 | 64,490.00 | 63,940.00 | 61,698.00 | 65,577.00 | 70,983.00 |
| Fixed Assets | 2,999.00 | 2,947.00 | 2,574.00 | 2,476.00 | 2,398.00 | 2,491.00 | 2,817.00 | 2,970.00 | 3,073.00 | 3,601.00 | 3,969.00 | 4,230.00 |
| CWIP | 495.00 | 195.00 | 308.00 | 354.00 | 431.00 | 420.00 | 314.00 | 235.00 | 203.00 | 168.00 | 318.00 | 2,614.00 |
| Investments | 302.00 | 276.00 | 256.00 | 235.00 | 205.00 | 185.00 | 162.00 | 152.00 | 429.00 | 757.00 | 796.00 | 6.00 |
| Other Assets | 73,092.00 | 65,431.00 | 56,646.00 | 54,599.00 | 53,956.00 | 52,864.00 | 56,998.00 | 61,132.00 | 60,235.00 | 57,171.00 | 60,494.00 | 64,134.00 |
| Total Assets | 76,888.00 | 68,849.00 | 59,784.00 | 57,664.00 | 56,991.00 | 55,960.00 | 60,291.00 | 64,490.00 | 63,940.00 | 61,698.00 | 65,577.00 | 70,983.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 5,837.00 | 2,192.00 | -3,713.00 | -741.00 | 660.00 | 560.00 | -2,892.00 | -3,860.00 | 989.00 | 560.00 | 374.00 | 821.00 |
| Cash from Investing Activity | -3,035.00 | -2,731.00 | 1,331.00 | 1,480.00 | -1,118.00 | -42.00 | 1,877.00 | 1,919.00 | 961.00 | -565.00 | 23.00 | 650.00 |
| Cash from Financing Activity | -1,806.00 | -857.00 | 2,656.00 | 89.00 | -329.00 | -394.00 | 1,622.00 | -32.00 | -667.00 | -468.00 | -122.00 | -3,543.00 |
| Net Cash Flow | 996.00 | -1,396.00 | 274.00 | 829.00 | -787.00 | 123.00 | 608.00 | -1,973.00 | 1,283.00 | -473.00 | 275.00 | -2,071.00 |
| Free Cash Flow | 5,261.00 | 1,902.00 | -3,936.00 | -921.00 | 498.00 | 311.00 | -3,276.00 | -4,284.00 | 719.00 | 227.00 | -178.00 | 544.00 |
| CFO/OP % | 227.00 | 151.00 | -554.00 | -82.00 | 30.00 | -25.00 | 1,930.00 | -169.00 | 57.00 | 105.00 | -50.00 | 87.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 73.00 | 76.00 | 73.00 | 49.00 | 52.00 | 85.00 | 121.00 | 142.00 | 178.00 | 283.00 | 321.00 | 309.00 |
| Inventory Days | 309.00 | 289.00 | 253.00 | 261.00 | 274.00 | 333.00 | 321.00 | 218.00 | 191.00 | 200.00 | 272.00 | 270.00 |
| Days Payable | 231.00 | 259.00 | 270.00 | 345.00 | 291.00 | 281.00 | 300.00 | 297.00 | 301.00 | 225.00 | 240.00 | 239.00 |
| Cash Conversion Cycle | 151.00 | 106.00 | 56.00 | -35.00 | 35.00 | 137.00 | 142.00 | 63.00 | 68.00 | 258.00 | 353.00 | 340.00 |
| Working Capital Days | 86.00 | 99.00 | 60.00 | -5.00 | 1.00 | 42.00 | 72.00 | 100.00 | 121.00 | 162.00 | 208.00 | 192.00 |
| ROCE % | 9.00 | 5.00 | 3.00 | 4.00 | 3.00 | -10.00 | 0.00 | 7.00 | 5.00 | 3.00 | -2.00 | 6.00 |
Corporate Actions
43 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 17 Jul 2026 | 17 Jul 2026 | — | 1.40 | |
| Dividend | 01 Aug 2025 | 01 Aug 2025 | — | 0.50 | |
| Dividend | 09 Aug 2024 | 09 Aug 2024 | — | 0.25 | |
| Dividend | 11 Aug 2023 | 11 Aug 2023 | — | 0.40 | |
| Dividend | 15 Sep 2022 | 16 Sep 2022 | — | 0.40 | |
| Other | 15 Sep 2021 | 16 Sep 2021 | — | — | Annual General Meeting |
| Other | 18 Sep 2020 | 21 Sep 2020 | — | — | Annual General Meeting |
| Dividend | 11 Sep 2019 | — | — | 1.20 | |
| Dividend | 12 Feb 2019 | 13 Feb 2019 | — | 0.80 | |
| Other | 05 Nov 2018 | 06 Nov 2018 | — | — | Buy Back of Shares |
| Other | 05 Nov 2018 | 06 Nov 2018 | — | — | Buyback |
| Dividend | 11 Sep 2018 | — | — | 1.02 | |
| Dividend | 15 Feb 2018 | 17 Feb 2018 | — | 0.80 | |
| Bonus | 28 Sep 2017 | 30 Sep 2017 | 1:2 | — | |
| Dividend | 23 Aug 2017 | — | — | 0.78 | |
| Dividend | 14 Feb 2017 | 15 Feb 2017 | — | 0.80 | |
| Dividend | 14 Sep 2016 | — | — | 0.40 | |
| Dividend | 14 Sep 2015 | — | — | 0.62 | |
| Dividend | 16 Feb 2015 | 18 Feb 2015 | — | 0.54 | |
| Dividend | 08 Sep 2014 | — | — | 1.52 | |
| Dividend | 07 Feb 2014 | 10 Feb 2014 | — | 1.31 | |
| Dividend | 06 Sep 2013 | — | — | 3.29 | |
| Dividend | 05 Feb 2013 | 06 Feb 2013 | — | 2.12 | |
| Dividend | 06 Sep 2012 | — | — | 3.68 | |
| Dividend | 06 Mar 2012 | 07 Mar 2012 | — | 2.72 | |
| Split | 03 Oct 2011 | 04 Oct 2011 | 10:2 | — | |
| Dividend | 10 Aug 2011 | — | — | 17.90 | |
| Dividend | 18 Mar 2011 | 21 Mar 2011 | — | 13.25 | |
| Dividend | 01 Sep 2010 | — | — | 12.30 | |
| Dividend | 09 Feb 2010 | 10 Feb 2010 | — | 11.00 | |
| Dividend | 01 Sep 2009 | — | — | 8.00 | |
| Dividend | 17 Feb 2009 | 18 Feb 2009 | — | 9.00 | NSE/BSE dividend mismatch: NSE=1.8; BSE=9.0 |
| Dividend | 17 Feb 2009 | 18 Feb 2009 | — | 1.80 | NSE/BSE dividend mismatch: NSE=1.8; BSE=9.0 |
| Dividend | 01 Sep 2008 | — | — | 6.25 | NSE/BSE dividend mismatch: NSE=1.25; BSE=6.25 |
| Dividend | 01 Sep 2008 | — | — | 1.25 | NSE/BSE dividend mismatch: NSE=1.25; BSE=6.25 |
| Dividend | 13 Feb 2008 | 14 Feb 2008 | — | 9.00 | |
| Dividend | 30 Aug 2007 | — | — | 6.00 | NSE/BSE dividend mismatch: NSE=1.2; BSE=6.0 |
| Dividend | 30 Aug 2007 | — | — | 1.20 | NSE/BSE dividend mismatch: NSE=1.2; BSE=6.0 |
| Bonus | 31 May 2007 | 01 Jun 2007 | 1:1 | — | |
| Dividend | 13 Feb 2007 | 14 Feb 2007 | — | 2.50 | |
| Dividend | 01 Sep 2006 | — | — | 0.40 | |
| Dividend | 06 Sep 2005 | — | — | 0.90 | |
| Dividend | 27 Aug 2001 | — | — | 3.00 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update11 Aug from fitch
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Rating update3 Jul from crisil
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Rating update16 Jun from care
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Rating update30 Mar from fitch
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Rating update3 Feb from crisil
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Rating update6 Aug 2025 from crisil