Bharat Heavy Electricals

    BHEL
    Defence
    ₹431.00
    price as of 11/9/2026, 5:28:04 pm

    Market cap ₹1.50 L Cr

    P/E
    61.57
    Day range
    ₹418.20 – ₹433.00
    52-week range
    ₹226.80 – ₹446.50
    Volume
    65.42 L
    Open
    ₹427.00
    Prev close
    ₹429.50
    Promoters pledged 3.6% of their shares
    52-week range, adjusted for splits and bonuses
    ₹214.05₹446.5
    10 Sept 202517 Jul 2026
    Index membership & F&O
    NIFTY 200NIFTY 500NIFTY MIDCAP 150NIFTY ENERGYF&O lot 2,625

    Price history

    6M change +68.52%RSI (14) 55.2 NeutralSMA 20 · 50 overlaid

    Price & delivery on the exchange

    NSE bhavcopy to 11 Sept 2026 · delivery 35.1% today vs 40.0% average · BSE close ₹430.6

    1 Apr23 Apr15 May5 Jun24 Jun15 Jul3 Aug21 Aug11 Sept₹240₹300₹360₹420₹4800%25%50%75%100%
    • Delivery
    • NSE close
    • BSE close

    High delivery with a rising price suggests buyers holding rather than trading the move.

    Futures & options

    NSE F&O close, 11 Sept 2026 · options expiring 29 Sept 2026

    Neutral
    Near-month future
    ₹432.5
    Change
    +0.66%
    Basis over spot
    +₹1.51
    Futures OI (shares)
    7.66 Cr
    OI change
    -0.30%
    Put-call ratio
    0.66
    Max pain
    ₹425
    Resistance (call OI)
    ₹430
    Support (put OI)
    ₹430
    Lot size
    2,625

    Open interest by strike

    Calls open above (resistance) and puts below (support), in shares

    34036037038039040041042043044045046047048049050009.5 L19.0 L28.5 L38.0 Lspot
    • Call OI
    • Put OI

    Futures open interest and price

    Near-month future, day by day since collection began

    The daily history builds from each close.

    Key metrics

    P/E (TTM)
    59.3
    EPS (TTM)
    ₹6.98
    Price / Book
    5.78
    ROE (FY26)
    6.3%
    ROCE (latest year)
    9%
    Dividend yield
    0.32%
    Net margin (TTM)
    6.8%
    Current ratio
    1.59
    Debt / Equity
    0.01
    Revenue growth (5y)
    14.3%

    Moving averages (NSE)

    Simple moving averages of the NSE price, and where the last price sits against each
    5-day10-day20-day50-day100-day300-day
    ₹427.82Price above₹427.91Price above₹423.12Price above₹413.04Price above₹399.18Price above₹333.52Price above

    Charts & trends

    From company filings. Amounts in ₹ crore.

    Revenue 3Y CAGR
    +13.1%
    Profit 3Y CAGR
    +34.7%
    Revenue YoY (Jun 2026)
    +40.3%
    Operating margin
    7.0%
    Net margin
    4.9%

    Revenue, profit & margin - quarterly

    Bars in ₹ crore (a loss shows red); line is operating margin

    Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025Jun 2026-4.5K Cr0 Cr4.5K Cr9.0K Cr13.5K Cr-14%-7%0%7%14%
    • Revenue
    • Net profit
    • Operating margin

    Who owns the company

    Shareholding as of Jun 2026

    • Promoter
    • DII
    • Public
    • FII
    • Government

    Cash flows

    Where cash came from and went, by fiscal year (₹ crore)

    Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026-6.0K Cr-3.0K Cr0 Cr3.0K Cr6.0K Cr
    • Operating
    • Investing
    • Financing
    • Free cash flow

    Return on equity

    Net profit over shareholders' equity, by fiscal year

    FY17FY18FY19FY20FY21FY22FY23FY24FY25FY26-10%-5%0%5%10%

    Equity vs debt

    Shareholders' equity against borrowings (₹ crore); line is debt-to-equity

    Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 20260 Cr8.5K Cr17.0K Cr25.5K Cr34.0K Cr0.0x0.1x0.2x0.3x0.4x
    • Equity
    • Debt
    • Debt / equity

    Financial statements

    ₹ Crore
    Quarterly results, oldest period first, figures in rupees crore
    Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
    Sales5,1255,5048,2605,4856,5847,2778,9935,4877,5128,47312,3107,698
    Expenses5,2795,2877,5325,6546,3096,9738,1626,0246,9317,92810,5577,194
    Operating Profit-154217728-169275304832-5375815451,753504
    OPM %-3%3.9%9%-3.1%4.2%4.2%9%-10%8%6%14%7%
    Other Income192118170111128126159185189235260226
    Interest180190193162201184201181195182198140
    Depreciation606168596068857575788882
    Profit before tax-20284636-279141179704-6084995201,728508
    Tax %-69%29%23%-24%25%25%28%-25%25%25%25%26%
    Net Profit-6360490-211106135504-4563753901,290377
    EPS in Rs₹-0.18₹0.17₹1.41₹-0.61₹0.30₹0.39₹1.45₹-1.31₹1.08₹1.12₹3.71₹1.08

    From company filings, updated 11 Sept 2026. Consolidated figures where the company reports them.Information only, not investment advice.

    Strengths, risks & growth

    Bharat Heavy Electricals Ltd is an integrated power plant equipment manufacturer engaged in design, engineering, manufacture, erection, testing, commissioning and servicing of a wide range of products and services for the core sectors of the economy, viz. Power, transmission, Industry, transportation, renewable energy, Oil & Gas and defence. [1] It is the flagship engineering and manufacturing company of India owned and controlled by the Govt. of India. [2]

    Strengths

    • Company is expected to give good quarter
    • Company has delivered good profit growth of 20.9% CAGR over last 5 years
    • Company has been maintaining a healthy dividend payout of 31.3%

    Risks

    • Stock is trading at 5.73 times its book value
    • Company has a low return on equity of 3.18% over last 3 years.
    • Promoter holding has decreased over last 3 years: -5.00%

    Compounded Sales Growth

    10 Years
    +3%
    5 Years
    +14%
    3 Years
    +13%
    TTM
    +27%

    Compounded Profit Growth

    10 Years
    +16%
    5 Years
    +21%
    3 Years
    +36%
    TTM
    +739%

    Stock Price CAGR

    10 Years
    +16%
    5 Years
    +51%
    3 Years
    +51%
    1 Year
    +88%

    Return on Equity

    10 Years
    0%
    5 Years
    +3%
    3 Years
    +3%
    Last Year
    +6%

    Strengths and risks are a machine-generated checklist, not advice; growth is compounded annually over each period.

    Shareholding pattern

    Percentage of shares held by each category at each quarter end
    HolderSept 2025Dec 2025Mar 2026Jun 2026Change
    Promoter63.17%63.17%58.17%58.17%0.00 pp
    FII6.23%6.28%7.23%9.52%+2.29 pp
    DII18.62%19.70%23.93%22.35%-1.58 pp
    Government0.00%0.00%0.06%0.07%+0.01 pp
    Public11.98%10.85%10.63%9.88%-0.75 pp

    Filed with NSE for Jun 2026: promoters 58.17%, public 41.83% · XBRL filing

    Analysts & fund holdings

    63%
    63% recommend buy
    16 analysts cover the stock
    Valuation vs Electrical Equipment
    P/E61.6 vs 45.8
    Sector P/B6.15
    Beta2.16

    Who holds the shares, quarter by quarter

    Mutual funds 11.40% (-1.48 pp)
    Mar 25
    Jun 25
    Sept 25
    Dec 25
    Mar 26
    Jun 26
    • Promoters58.2%
    • Foreign institutions9.5%
    • Mutual funds11.4%
    • Insurance8.6%
    • Other domestic institutions2.5%
    • Retail7.9%
    • Others1.9%
    Mutual funds holding the most
    Fund% of company% of fund3-month change
    Nippon India Small Cap Fund1.06%1.85%+0.03 pp
    Nippon India Growth Mid Cap Fund0.52%1.44%+0.18 pp
    Axis Midcap Fund0.48%1.95%+0.17 pp
    SBI Midcap Fund0.46%2.71%-0.21 pp
    Quant ELSS Tax Saver Fund0.36%3.87%+0.52 pp

    Scorecard

    Performance
    High
    Valuation
    High
    Growth
    Avg
    Profitability
    High
    Entry point
    Good
    Red flags
    Low

    Analyst coverage, holdings and scorecard from market data; not a recommendation by Parasram India.

    Corporate actions

    • dividend
      ₹1.40

      Dividend - Rs 1.40 Per Share

      17 Jul 2026
      ex-date
    • dividend
      Not available — not reported in this filing

      Dividend - Re 0.50 Per Share

      1 Aug 2025
      ex-date
    • dividend
      ₹0.25

      Dividend - Rs 0.25 Per Share

      9 Aug 2024
      ex-date
    • dividend
      Not available — not reported in this filing

      Dividend - Re 0.40 Per Share

      11 Aug 2023
      ex-date
    • dividend
      Not available — not reported in this filing

      Dividend - Re 0.40 Per Share

      15 Sept 2022
      ex-date
    • other
      Not available — not reported in this filing

      Annual General Meeting

      15 Sept 2021
      ex-date
    • other
      Not available — not reported in this filing

      Annual General Meeting

      18 Sept 2020
      ex-date
    • dividend
      ₹1.20

      Annual General Meeting/Dividend - Rs 1.20 Per Share

      11 Sept 2019
      ex-date
    • dividend
      Not available — not reported in this filing

      Interim Dividend - Re 0.80 Per Share

      12 Feb 2019
      ex-date
    • buyback
      Not available — not reported in this filing

      Buyback

      5 Nov 2018
      ex-date
    • dividend
      ₹1.02

      Annual General Meeting/Dividend- Rs 1.02 Per Share

      11 Sept 2018
      ex-date
    • dividend
      Not available — not reported in this filing

      Interim Dividend Re 0.80 Per Share (Purpose Revised)

      15 Feb 2018
      ex-date
    • bonus
      Not available — not reported in this filing

      Bonus 1:2

      28 Sept 2017
      ex-date
    • dividend
      Not available — not reported in this filing

      Annual General Meeting/Dividend - Re 0.78/- Per Share (Book Closure Dates Revised)

      23 Aug 2017
      ex-date
    • dividend
      Not available — not reported in this filing

      Interim Dividend Re 0.80 Per Share (Purpose Revised)

      14 Feb 2017
      ex-date
    • dividend
      Not available — not reported in this filing

      Annual General Meeting/Dividend - Re 0.40/- Per Share

      14 Sept 2016
      ex-date
    • dividend
      Not available — not reported in this filing

      Annual General Meeting/Dividend Re 0.62 Per Share

      14 Sept 2015
      ex-date
    • dividend
      Not available — not reported in this filing

      Interim Dividend - Re 0.54/- Per Share (Purpose Revised)

      16 Feb 2015
      ex-date
    • dividend
      ₹1.52

      Annual General Meeting / Final Dividend - Rs 1.52/- Per Share

      8 Sept 2014
      ex-date
    • dividend
      ₹1.31

      Interim Dividend - Rs 1.31/- Per Share (Purpose Revised)

      7 Feb 2014
      ex-date

    Insider trades

    Last 12 months, market trades
    Net selling ₹4470 Cr
    0 buys · ₹0
    1 sells · ₹4470 Cr
    Latest insider trades disclosed to NSE
    PersonTypeSharesValueDisclosed
    President of India, acting through Ministry of HeavyIndustries, GOI
    Promoters · Market Sale
    		Sell17,42,09,815₹4470 Cr13 Feb 2026

    Disclosures filed with NSE under SEBI (Prohibition of Insider Trading) Regulations. Pledges and releases are not trades and are not counted above.

    Bulk & block deals

    Large deals reported to NSE in this stock
    DateClientTypeQuantityPrice
    1 Sept 2026—Short sale849—
    12 Sept 2025—Short sale34—

    Deals of more than 0.5% of shares (bulk), large single trades (block) and short sales, as NSE reports them.

    Company announcements

    Company Update
    Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s

    Intimation of Appointment of Auditors for FY 2026-27

    Company Update
    Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

    Intimation of Manufacturing Unit visit by analyst/ investors group

    Company Update
    Disclosure Under Section 30 Of SEBI (LODR), Regulations, 2015-Fine

    As per attachment

    Company Update
    Announcement under Regulation 30 (LODR)-Change in Management

    Change in Management

    Insider Trading / SAST
    Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011

    The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Life Insurance Corporation of India

    Company Update
    BHEL Signs SCA With M/S Hystar AS, Norway For PEM Electrolyser Systems For Green Hydrogen Projects.

    BHEL signs SCA with M/s Hystar AS, Norway for PEM Electrolyser Systems for Green Hydrogen projects

    Company UpdatePrice-sensitive
    Announcement under Regulation 30 (LODR)-Credit Rating

    Information to Stock Exchange on BHEL's Credit Rating Upgrade by M/s India Ratings & Research

    AGM/EGMPrice-sensitive
    Shareholder Meeting / Postal Ballot-Outcome of AGM

    Proceedings of the 62nd AGM of BHEL & voting results thereof

    Company Update
    Announcement under Regulation 30 (LODR)-Newspaper Publication

    Copy of newspaper publication

    Company Update
    Disclosure Under Regulation 30 Read With Para A Of Part A Of Schedule III Of SEBI (LODR) Regulations, 2015

    Disclosure under Regulation 30 read with Para A of Part A of Schedule III of SEBI (LODR) Regulations, 2015

    Company Update
    General Announcement

    BHEL's statement on news being circulated online and through social media about successful development of its 1200kV Transformer

    Filed with BSE (scrip 500103); the last 45 days. Documents open at bseindia.com.

    SEBI filings & orders

    From SEBI's website. An order may concern the company, its officers or trading in its shares, and may be under appeal - read the order itself. Personal identifiers are withheld.

    Buybacks, open offers & rights issues

    • Buyback - Post Buyback Public Announcement

      Bharat Heavy Electricals Limited - Post Buyback Public Announcement

      11 Jan 2019
      Read on SEBI
    • Buyback - Letter of Offer

      Bharat Heavy Electricals Limited - Letter of Offer

      6 Dec 2018
      Read on SEBI
    • Buyback - Draft Letter of Offer

      Bharat Heavy Electricals Limited - Draft Letter of Offer

      5 Nov 2018
      Read on SEBI
    • Buyback - Buyback Public Announcement

      Bharat Heavy Electricals Limited - Buyback Public Announcement

      31 Oct 2018
      Read on SEBI

    Documents

    Annual reports

    Earnings calls

    Credit ratings

    Documents open at BSE or the rating agency that issued them.

    Sourced from the company's NSE XBRL filing dated 28 Jan 2025 (unaudited). View the source filing. Figures are as filed and are not investment advice.