Bharat Heavy Electricals Limited
Bharat Heavy Electricals Limited operates in Heavy Electrical Equipment, part of the Capital Goods sector. It booked ₹9,300 cr of revenue in its latest quarter (Q2 FY27) and kept 8.8% of sales as profit. It is the 3rd largest of 9 Heavy Electrical Equipment companies we track, by market value.
| Segment | FY20 | FY21 | FY22 | FY24 | FY25 | FY26 | Share |
|---|---|---|---|---|---|---|---|
| Power | 14,960 | 11,386 | 15,361 | 17,710 | 20,937 | 25,407 | 73% → 75% |
| Industry | 5,534 | 4,910 | 4,792 | 5,211 | 7,402 | 8,375 | 27% → 25% |
| Total | 20,495 | 16,296 | 20,153 | 22,921 | 28,339 | 33,782 |
From the company's consolidated segment filings (Ind AS 108). Margin is segment operating profit (before interest & tax) over segment revenue; reconciliation rows like inter-segment eliminations are excluded from the mix.
“– what we are and what we do Bharat Heavy Electricals Limited (BHEL) is a leading BHEL has a robust in-house product development company in the Capital Goods sector, proudly infrastructure, delivering future-ready products and contributing to the Make in India initiative since 1964. technologies.”
Healthier than 56% of companies in Capital Goods, on all six measures of filed financials. Each measure is ranked against the 81–127 companies that reported it.
Measures financial condition, not whether to buy. Learn what this score means · How this is calculated
- RSI (14)
- 44
At close. Not part of the score.
How much profit it earns on the money it employs
How much it owes, and whether earnings cover the interest
Whether reported profit actually arrives as cash
Whether sales and profit have grown, and how steadily
What today's price implies, against our models or its peers
How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure
What if I invest in BHEL?
Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.
The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.
P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.
An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.
| Revenue from Operations | ₹9,300 cr |
| Other Income | ₹253 cr |
| Total Income | ₹9,553 cr |
| Cost of Materials | ₹6,958 cr |
| Purchases of Stock-in-Trade | ₹0 cr |
| Inventory Change (±) | ₹-1,057 cr |
| Employee Benefit Expense | ₹1,652 cr |
| Finance Costs | ₹125 cr |
| Depreciation & Amortisation | ₹83 cr |
| Other Expenses | ₹721 cr |
| Total Expenses | ₹8,482 cr |
| Profit before Tax | ₹1,071 cr |
| Tax Expense | ₹268 cr |
| Share of JV / Associates | ₹18 cr |
| Net Profit | ₹821 cr |
| Net margin on total income | 8.6% |
| Metric | Q4 FY26 | Q1 FY27 | Q2 FY27 |
|---|---|---|---|
| Revenue | 12,310 cr | 7,698 cr | 9,300 cr |
| Total income | 12,554 cr | 7,912 cr | 9,553 cr |
| Expenses | 10,843 cr | 7,416 cr | 8,482 cr |
| Profit before tax | 1,711 cr | 496 cr | 1,071 cr |
| Tax | 437 cr | 131 cr | 268 cr |
| Net profit (owners' share) | 1,290 cr | 377 cr | 821 cr |
| Net margin (owners' share, on revenue) | 10.5% | 4.9% | 8.8% |
| EPS (₹) | 3.71 | 1.08 | 2.36 |
| Company | Price | Market cap | P/E | ROE | Net margin | 1-yr return |
|---|---|---|---|---|---|---|
| Siemens Limited | ₹3,387 | ₹7.53 L cr | 87.8 | 61.9% | 45.5% | — |
| ABB India Limited | ₹6,605 | ₹1.40 L cr | 94.6 | 15.5% | 10.2% | — |
| Bharat Heavy Electricals Limitedthis company | ₹400 | ₹1.39 L cr | 42.4 | 12.3% | 8.8% | — |
| CG Power and Industrial Solutions Limited | ₹810 | ₹1.28 L cr | 77.3 | 18.9% | 10.8% | — |
| Hitachi Energy India Limited | ₹27,280 | ₹1.22 L cr | 103.3 | 22.7% | 11.8% | — |
| GE Vernova T&D India Limited | ₹4,050 | ₹1.04 L cr | 60.1 | 52.4% | 21.3% | — |
| Siemens Energy India Limited | ₹2,847 | ₹1.01 L cr | 57.5 | 36.7% | 17.7% | — |
| Suzlon Energy Limited | ₹36 | ₹49,179 cr | 30.8 | 15.3% | 8.1% | — |
| Thermax Limited | ₹3,151 | ₹35,498 cr | 351.7 | 1.8% | 1.1% | — |
| Action | Detail | Ex-date |
|---|---|---|
| Dividend | ₹1.4 / share | 17 Jul 2026 |
| Dividend | ₹0.5 / share | 1 Aug 2025 |
| Dividend | ₹0.25 / share | 9 Aug 2024 |
| Dividend | ₹0.4 / share | 11 Aug 2023 |
| Dividend | ₹0.4 / share | 15 Sep 2022 |
| Dividend | ₹1.2 / share | 11 Sep 2019 |
A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.
Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.
Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.
Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.