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BHARAT HEAVY ELECTRICALS Financial Statement Analysis
[BOM: 500103|NSE : BHEL]

The Revenues of BHARAT HEAVY ELECTRICALS have increased by 18.61% YoY .
The Earnings Per Share (EPS) of BHARAT HEAVY ELECTRICALS has increased by 200.65 % YoY.
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BHARAT HEAVY ELECTRICALS Last 5 Annual Financial Results
[BOM: 500103|NSE : BHEL]

ConsolidatedMar2026
Mar2025
Mar2024
Mar2023
Mar2022
Revenues ₹28,339 Cr₹23,893 Cr₹23,365 Cr₹21,211 Cr₹17,309 Cr
Expenses ₹32,558 Cr₹28,094 Cr₹25,383 Cr₹23,590 Cr₹22,827 Cr
Operating Profit (Excl OI) ₹-4,218 Cr₹-4,201 Cr₹-2,018 Cr₹-2,379 Cr₹-5,518 Cr
Other Income ₹6,083 Cr₹5,457 Cr₹3,551 Cr₹3,561 Cr₹2,818 Cr
Interest ₹906 Cr₹828 Cr₹612 Cr₹448 Cr₹467 Cr
Depreciation ₹272 Cr₹249 Cr₹260 Cr₹314 Cr₹473 Cr
Profit Before Tax ₹746 Cr₹243 Cr₹716 Cr₹470 Cr₹-3,596 Cr
Profit After Tax ₹534 Cr₹282 Cr₹654 Cr₹445 Cr₹-2,700 Cr
Consolidated Net Profit ₹534 Cr₹282 Cr₹654 Cr₹446 Cr₹-2,697 Cr
Earnings Per Share (Rs)₹4.60₹1.53₹0.81₹1.88₹1.28
PAT Margin (%)3.981.621.022.431.84
ROE(%)6.292.171.162.571.69
ROCE(%)9.244.953.404.352.96
Total Debt/Equity(x)0.300.360.360.220.18

Key Financials

Market Cap : ₹ 143,462.5 Cr
Revenue (TTM) : ₹ 35,993.0 Cr
Net Profit(TTM) : ₹ 2,373.6 Cr
EPS (TTM) : ₹ 6.8
P/E (TTM) : 60.4

Industry Peers & Returns1W1M1Y
BHARAT HEAVY ELECTRICALS -3.3% -4.9% 75%
THERMAX -2.6% -14.5% 5.4%
KIRLOSKAR OIL ENGINES -0.8% 1.9% 121.4%
TRIVENI TURBINE 0.2% -5.7% 2.7%
JYOTI CNC AUTOMATION -3.7% 1.6% 13.7%
INOX INDIA -4.3% -6.1% 77.4%
AZAD ENGINEERING -1.8% -2.8% 67%
TEGA INDUSTRIES -2.5% 24.2% 6%
ELECON ENGINEERING COMPANY 14.3% 13.6% -25.2%


BHARAT HEAVY ELECTRICALS Revenues
[BOM: 500103|NSE : BHEL]

Y-o-Y

18.61 %

5 Yr CAGR

13.12 %

Years Revenues % Change
Mar2026 ₹28,339 Cr
18.61
Mar2025 ₹23,893 Cr
2.26
Mar2024 ₹23,365 Cr
10.15
Mar2023 ₹21,211 Cr
22.55
Mar2022 ₹17,309 Cr -


BHARAT HEAVY ELECTRICALS Operating Profit
[BOM: 500103|NSE : BHEL]

Y-o-Y

Negative

5 Yr CAGR

Negative

Years Operating Profit % Change
Mar2026 ₹-4,218 Cr
Negative
Mar2025 ₹-4,201 Cr
Negative
Mar2024 ₹-2,018 Cr
Negative
Mar2023 ₹-2,379 Cr
Negative
Mar2022 ₹-5,518 Cr -

Operating Margins
Y-o-Y

Negative

5 Yr CAGR

Negative

Years Operating Margin% % Change
Mar2026 -14.88%
Negative
Mar2025 -17.58%
Negative
Mar2024 -8.64%
Negative
Mar2023 -11.22%
Negative
Mar2022 -31.88% -

BHARAT HEAVY ELECTRICALS Profit After Tax
[BOM: 500103|NSE : BHEL]

Y-o-Y

89.18 %

5 Yr CAGR

Positive

Years Profit After Tax % Change
Mar2026 ₹534 Cr
89.18
Mar2025 ₹282 Cr
-56.86
Mar2024 ₹654 Cr
46.65
Mar2023 ₹446 Cr
Positive
Mar2022 ₹-2,697 Cr -

PAT Margins
Y-o-Y

145.68 %

5 Yr CAGR

21.27 %

Years PAT Margin(%) % Change
Mar2026 3.98 %
145.68
Mar2025 1.62 %
58.82
Mar2024 1.02 %
-58.02
Mar2023 2.43 %
32.07
Mar2022 1.84 % -

BHARAT HEAVY ELECTRICALS Earnings Per Share (EPS)
[BOM: 500103|NSE : BHEL]

Y-o-Y

200.65 %

5 Yr CAGR

37.69 %

Years EPS % Change
Mar2026 ₹4.60
200.65
Mar2025 ₹1.53
88.89
Mar2024 ₹0.81
-56.91
Mar2023 ₹1.88
46.88
Mar2022 ₹1.28 -

BHARAT HEAVY ELECTRICALS Return on Capital Employed (ROCE)
[BOM: 500103|NSE : BHEL]

Y-o-Y

86.67 %

5 Yr CAGR

32.92 %

Years ROCE % Change
Mar2026 9.24%
86.67
Mar2025 4.95%
45.59
Mar2024 3.4%
-21.84
Mar2023 4.35%
46.96
Mar2022 2.96% -

BHARAT HEAVY ELECTRICALS Share Price vs Sensex

Current Share Price : ₹412.0
Current MarketCap: ₹ 143,462.5 Cr
Updated EOD on :Sep 28,2026

Share Price Returns(%) 1 Week 1 Month 1 Year
BHARAT HEAVY ELECTRICALS

-3.3%

-4.9%

75%

SENSEX

-2.8%

-6.1%

-11.9%

BHARAT HEAVY ELECTRICALS related INDICES

BSE Indices1W1M1Y
BSE 500 MOMENTUM 50 -2.4% -4.7% 2.6%
BSE PSU -2.5% -5.6% -1.1%
BSE INDUSTRIALS -2.6% -4.5% 5.4%
BSE 1000 -2.7% -5.4% -4.8%
BSE MOMENTUM INDEX -2.7% -6.3% -6.5%
NSE Indices1W1M1Y
NIFTY INDIA MANUFACTURING -1.9% -5.6% 2.7%
NIFTY500 MULTICAP INDIA MANUFACTURING 50:30:20 -1.9% -4.7% 1.9%
NIFTY PSE -2.2% -3.5% -4.9%
NIFTY500 SHARIAH -2.3% -5.1% -8.2%
NIFTY200 MOMENTUM 30 -2.4% -5.7% -4.3%

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FAQ about BHARAT HEAVY ELECTRICALS Financials


How the annual revenues of BHARAT HEAVY ELECTRICALS have changed ?

The Revenues of BHARAT HEAVY ELECTRICALS have increased by 18.61% YoY .

How the Earnings per Share (EPS) of BHARAT HEAVY ELECTRICALS have changed?

The Earnings Per Share (EPS) of BHARAT HEAVY ELECTRICALS has increased by 200.65 % YoY .