Bharat Heavy Electricals Limited

Industrials›Capital Goods›Electrical Equipment›Heavy Electrical Equipment

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Key metrics

Price as of 2026-07-20

Stock price
₹417.50
Market cap
1,45,626 Cr
Stock P/E
59.2
P/B
209.11
Dividend yield
0.1%

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Share price

NSE closing price from historical market data.

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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · NSE preferred when both exchanges report the same period · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales10,129 Cr15,633 Cr23,893 Cr5,485 Cr12,069 Cr7,277 Cr8,993 Cr5,487 Cr7,512 Cr8,473 Cr12,310 Cr7,698 Cr
Operating expenses (approx.)10,587 Cr16,058 Cr22,734 Cr5,557 Cr11,755 Cr6,973 Cr8,012 Cr5,853 Cr6,756 Cr7,709 Cr10,314 Cr7,194 Cr
EBITDA-458 Cr-425 Cr1,159 Cr-72 Cr314 Cr304 Cr981 Cr-366 Cr756 Cr764 Cr1,996 Cr504 Cr
OPM %-4.5%-2.7%4.9%-1.3%2.6%4.2%10.9%-6.7%10.1%9.0%16.2%6.5%
Other income294 Cr390 Cr546 Cr97 Cr208 Cr108 Cr149 Cr171 Cr175 Cr219 Cr243 Cr214 Cr
Interest348 Cr538 Cr731 Cr162 Cr363 Cr184 Cr201 Cr181 Cr195 Cr182 Cr198 Cr140 Cr
Depreciation120 Cr181 Cr249 Cr59 Cr119 Cr68 Cr85 Cr75 Cr75 Cr78 Cr88 Cr82 Cr
Profit before tax-926 Cr-1,143 Cr179 Cr-293 Cr-168 Cr160 Cr695 Cr-622 Cr485 Cr504 Cr1,711 Cr496 Cr
Tax %34.1%31.7%-22.1%23.1%19.2%27.4%28.8%24.5%25.6%25.7%25.6%26.4%
Net profit-582 Cr-731 Cr282 Cr-211 Cr-105 Cr135 Cr504 Cr-455 Cr375 Cr390 Cr1,290 Cr388 Cr
EPS (₹)₹-1.67₹-2.10₹0.81₹-0.61₹0.30₹0.39₹1.45₹-1.31₹1.08₹1.12₹3.71₹1.08

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales30,349 Cr21,490 Cr17,309 Cr21,211 Cr23,365 Cr23,893 Cr28,339 Cr33,782 CrSign in for TTM
Operating expenses (approx.)27,529 Cr21,163 Cr20,102 Cr20,121 Cr22,648 Cr23,280 Cr26,633 Cr30,632 CrSign in for TTM
EBITDA2,820 Cr327 Cr-2,793 Cr1,090 Cr717 Cr613 Cr1,707 Cr3,150 CrSign in for TTM
OPM %9.3%1.5%-16.1%5.1%3.1%2.6%6.0%9.3%Sign in for TTM
Other income678 Cr564 Cr348 Cr355 Cr489 Cr546 Cr465 Cr808 CrSign in for TTM
Interest287 Cr508 Cr374 Cr356 Cr521 Cr731 Cr748 Cr756 CrSign in for TTM
Depreciation475 Cr503 Cr473 Cr314 Cr260 Cr249 Cr272 Cr316 CrSign in for TTM
Profit before tax2,058 Cr-685 Cr-3,640 Cr420 Cr423 Cr179 Cr687 Cr2,078 CrSign in for TTM
Tax %40.9%-118.2%24.6%6.1%0.5%-22.1%30.8%25.9%Sign in for TTM
Net profit1,215 Cr-1,468 Cr-2,700 Cr445 Cr477 Cr282 Cr534 Cr1,600 CrSign in for TTM
EPS (₹)₹3.35₹-4.22₹-7.75₹1.28₹1.37₹0.81₹1.53₹4.60Sign in for TTM
Dividend payout %———0.1%29.2%49.4%16.4%10.9%Sign in for TTM
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Trailing twelve months totals and margin rows

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital696 Cr696 Cr696 Cr696 Cr696 Cr696 Cr696 Cr696 Cr
Reserves30,703 Cr27,964 Cr25,287 Cr25,810 Cr26,132 Cr23,742 Cr24,026 Cr25,450 Cr
Borrowings————5,454 Cr8,856 Cr8,852 Cr8,019 Cr
Other liabilities33,016 Cr32,124 Cr29,257 Cr29,737 Cr27,088 Cr25,710 Cr34,509 Cr42,020 Cr
Total liabilities64,416 Cr60,784 Cr55,240 Cr56,244 Cr59,370 Cr59,006 Cr68,083 Cr76,186 Cr
Fixed assets (net)————2,409 Cr2,511 Cr2,862 Cr2,933 Cr
CWIP————345 Cr282 Cr162 Cr399 Cr
Investments————3 Cr1 Cr0.0000 Cr0.0000 Cr
Other assets————30,082 Cr34,546 Cr42,760 Cr51,455 Cr
Total assets64,416 Cr60,784 Cr55,240 Cr56,244 Cr59,370 Cr59,006 Cr68,083 Cr76,186 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity———660 Cr-742 Cr-3,713 Cr2,192 Cr5,837 Cr
Cash from investing———-1,125 Cr1,480 Cr1,331 Cr-2,731 Cr-3,035 Cr
Cash from financing———-322 Cr89 Cr2,656 Cr-857 Cr-1,806 Cr
Net cash flow———-787 Cr828 Cr274 Cr-1,396 Cr996 Cr
Free cash flow (OCF − Capex)———491 Cr-930 Cr-3,945 Cr1,910 Cr5,248 Cr

Ratios

Ratios as reported or derived per annual period.

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %7.5%-0.6%-12.6%2.9%1.4%1.1%4.3%8.3%
ROE %3.9%-5.1%-10.4%1.7%1.8%1.2%2.2%6.1%
Debtor days————4973——
Inventory days————154153176200
Days payable————226184——
Cash conversion cycle————-2342176200
Debt / equity0.00——0.000.200.360.360.31
Current ratio————1.291.361.511.59
Net debt / EBITDA0.000.00—0.005.4311.464.932.09

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