Shares of Bharat Heavy Electricals are trading higher in Friday's session, with the stock up 2.09% at Rs 239.40. The stock is a constituent of the Nifty Midcap 150 index.
Financial Snapshot:
Bharat Heavy Electricals' financial performance reveals the following:
Consolidated Quarterly Performance:
| Heading | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
|---|---|---|---|---|---|
| Revenue | Rs 5,484.92 Crore | Rs 6,584.10 Crore | Rs 7,277.09 Crore | Rs 8,993.37 Crore | Rs 5,486.91 Crore |
| Net Profit | -Rs 225.61 Crore | Rs 89.53 Crore | Rs 116.44 Crore | Rs 494.53 Crore | -Rs 469.17 Crore |
| EPS | -0.61 | 0.30 | 0.39 | 1.45 | -1.31 |
The company's revenue for the quarter-ending March 2025 was Rs 8,993.37 Crore, up from Rs 7,277.09 Crore in the quarter-ending December 2024. However, net profit for the quarter-ending June 2025 was -Rs 469.17 Crore, a decrease compared to Rs 494.53 Crore in the quarter-ending March 2025.
Consolidated Yearly Performance:
| Heading | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | Rs 17,308.69 Crore | Rs 21,211.09 Crore | Rs 23,364.94 Crore | Rs 23,892.78 Crore | Rs 28,339.48 Crore |
| Net Profit | -Rs 2,743.84 Crore | Rs 394.29 Crore | Rs 421.37 Crore | Rs 218.24 Crore | Rs 474.89 Crore |
| EPS | -7.75 | 1.28 | 1.37 | 0.81 | 1.53 |
| BVPS | 74.59 | 76.12 | 77.05 | 70.18 | 71.00 |
| ROE | -10.38 | 1.68 | 1.77 | 1.15 | 2.15 |
| Debt to Equity | 0.19 | 0.18 | 0.20 | 0.36 | 0.36 |
The company's revenue for the year-ending March 2025 was Rs 28,339.48 Crore, an increase compared to Rs 23,892.78 Crore in the year-ending March 2024. Net profit for the year-ending March 2025 was Rs 474.89 Crore, up from Rs 218.24 Crore in the year-ending March 2024.
Annual Income Statement:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Sales | Rs 28,339 Crore | Rs 23,892 Crore | Rs 23,364 Crore | Rs 21,211 Crore | Rs 17,308 Crore |
| Other Income | Rs 465 Crore | Rs 546 Crore | Rs 488 Crore | Rs 354 Crore | Rs 348 Crore |
| Total Income | Rs 28,804 Crore | Rs 24,439 Crore | Rs 23,853 Crore | Rs 21,565 Crore | Rs 17,657 Crore |
| Total Expenditure | Rs 27,369 Crore | Rs 23,529 Crore | Rs 22,908 Crore | Rs 20,789 Crore | Rs 20,923 Crore |
| EBIT | Rs 1,434 Crore | Rs 909 Crore | Rs 944 Crore | Rs 776 Crore | -Rs 3,266 Crore |
| Interest | Rs 748 Crore | Rs 731 Crore | Rs 521 Crore | Rs 355 Crore | Rs 373 Crore |
| Tax | Rs 211 Crore | -Rs 39 Crore | Rs 2 Crore | Rs 25 Crore | -Rs 896 Crore |
| Net Profit | Rs 474 Crore | Rs 218 Crore | Rs 421 Crore | Rs 394 Crore | -Rs 2,743 Crore |
The company's sales for the year-ending March 2025 increased to Rs 28,339 Crore from Rs 23,892 Crore in the year-ending March 2024. The net profit also increased to Rs 474 Crore in March 2025 from Rs 218 Crore in March 2024.
Quarterly Income Statement:
| Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | |
|---|---|---|---|---|---|
| Sales | Rs 5,486 Crore | Rs 8,993 Crore | Rs 7,277 Crore | Rs 6,584 Crore | Rs 5,484 Crore |
| Other Income | Rs 171 Crore | Rs 149 Crore | Rs 107 Crore | Rs 111 Crore | Rs 96 Crore |
| Total Income | Rs 5,658 Crore | Rs 9,142 Crore | Rs 7,385 Crore | Rs 6,695 Crore | Rs 5,581 Crore |
| Total Expenditure | Rs 6,098 Crore | Rs 8,246 Crore | Rs 7,040 Crore | Rs 6,369 Crore | Rs 5,713 Crore |
| EBIT | -Rs 440 Crore | Rs 895 Crore | Rs 344 Crore | Rs 326 Crore | -Rs 131 Crore |
| Interest | Rs 181 Crore | Rs 201 Crore | Rs 183 Crore | Rs 201 Crore | Rs 161 Crore |
| Tax | -Rs 152 Crore | Rs 199 Crore | Rs 44 Crore | Rs 35 Crore | -Rs 67 Crore |
| Net Profit | -Rs 469 Crore | Rs 494 Crore | Rs 116 Crore | Rs 89 Crore | -Rs 225 Crore |
The sales for the quarter-ending March 2025 increased to Rs 8,993 Crore from Rs 7,277 Crore in the quarter-ending December 2024. The net profit decreased to -Rs 469 Crore in the quarter-ending June 2025 from Rs 494 Crore in the quarter-ending March 2025.
Cash Flow:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Operating Activities | Rs 2,191 Crore | -Rs 3,712 Crore | -Rs 741 Crore | Rs 660 Crore | Rs 561 Crore |
| Investing Activities | -Rs 2,730 Crore | Rs 1,330 Crore | Rs 1,480 Crore | -Rs 1,125 Crore | -Rs 42 Crore |
| Financing Activities | -Rs 856 Crore | Rs 2,655 Crore | Rs 88 Crore | -Rs 329 Crore | -Rs 395 Crore |
| Others | Rs 0 Crore | Rs 0 Crore | Rs 0 Crore | Rs 7 Crore | Rs 0 Crore |
| Net Cash Flow | -Rs 1,395 Crore | Rs 273 Crore | Rs 827 Crore | -Rs 787 Crore | Rs 123 Crore |
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Share Capital | Rs 696 Crore | Rs 696 Crore | Rs 696 Crore | Rs 696 Crore | Rs 696 Crore |
| Reserves & Surplus | Rs 24,025 Crore | Rs 23,742 Crore | Rs 26,131 Crore | Rs 25,810 Crore | Rs 25,287 Crore |
| Current Liabilities | Rs 28,225 Crore | Rs 25,332 Crore | Rs 23,351 Crore | Rs 21,371 Crore | Rs 20,359 Crore |
| Other Liabilities | Rs 15,135 Crore | Rs 9,234 Crore | Rs 9,190 Crore | Rs 8,366 Crore | Rs 8,896 Crore |
| Total Liabilities | Rs 68,083 Crore | Rs 59,005 Crore | Rs 59,369 Crore | Rs 56,243 Crore | Rs 55,240 Crore |
| Fixed Assets | Rs 3,142 Crore | Rs 2,882 Crore | Rs 2,829 Crore | Rs 2,829 Crore | Rs 2,910 Crore |
| Current Assets | Rs 42,759 Crore | Rs 34,545 Crore | Rs 30,082 Crore | Rs 27,861 Crore | Rs 28,343 Crore |
| Other Assets | Rs 22,180 Crore | Rs 21,577 Crore | Rs 26,457 Crore | Rs 25,552 Crore | Rs 23,986 Crore |
| Total Assets | Rs 68,083 Crore | Rs 59,005 Crore | Rs 59,369 Crore | Rs 56,243 Crore | Rs 55,240 Crore |
| Contingent Liabilities | Rs 8,632 Crore | Rs 10,085 Crore | Rs 7,661 Crore | Rs 7,022 Crore | Rs 6,324 Crore |
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Basic EPS (Rs.) | 1.53 | 0.81 | 1.37 | 1.28 | -7.75 |
| Diluted Eps (Rs.) | 1.53 | 0.81 | 1.37 | 1.28 | -7.75 |
| Book Value [Excl. Reval Reserve]/Share (Rs.) | 71.00 | 70.18 | 77.05 | 76.12 | 74.59 |
| Dividend/Share (Rs.) | 0.50 | 0.25 | 0.40 | 0.40 | 0.00 |
| Face Value | 2 | 2 | 2 | 2 | 2 |
| Gross Profit Margin (%) | 6.02 | 4.85 | 5.15 | 5.13 | -16.13 |
| Operating Margin (%) | 5.06 | 3.80 | 4.04 | 3.65 | -18.86 |
| Net Profit Margin (%) | 1.67 | 0.91 | 1.80 | 1.85 | -15.85 |
| Return on Networth / Equity (%) | 2.15 | 1.15 | 1.77 | 1.68 | -10.38 |
| ROCE (%) | 3.60 | 2.70 | 2.62 | 2.22 | -9.36 |
| Return On Assets (%) | 0.78 | 0.47 | 0.80 | 0.79 | -4.88 |
| Current Ratio (X) | 1.51 | 1.36 | 1.29 | 1.30 | 1.39 |
| Quick Ratio (X) | 1.17 | 1.08 | 1.00 | 1.00 | 1.04 |
| Debt to Equity (x) | 0.36 | 0.36 | 0.20 | 0.18 | 0.19 |
| Interest Coverage Ratios (X) | 2.28 | 1.58 | 2.31 | 3.06 | -8.73 |
| Asset Turnover Ratio (%) | 0.45 | 0.40 | 0.40 | 0.38 | 31.33 |
| Inventory Turnover Ratio (X) | 3.32 | 3.42 | 0.94 | 0.77 | 2.41 |
| 3 Yr CAGR Sales (%) | 15.59 | 17.49 | 4.34 | -16.53 | -22.66 |
| 3 Yr CAGR Net Profit (%) | 9.75 | -71.80 | -46.89 | -42.39 | 81.93 |
| P/E (x) | 141.46 | 305.31 | 51.13 | 38.55 | -6.29 |
| P/B (x) | 3.04 | 3.52 | 0.91 | 0.65 | 0.65 |
| EV/EBITDA (x) | 44.77 | 76.56 | 19.22 | 13.55 | -5.41 |
| P/S (x) | 2.65 | 3.60 | 1.05 | 0.81 | 0.98 |
Bharat Heavy Electricals has announced several corporate actions:
- Newspaper Publication: Announcement under Regulation 30 (LODR)-Newspaper Publication was made on September 17, 2025.
- Analyst / Investor Meet - Intimation: Intimation regarding Investor Group Meeting was announced on September 15, 2025.
- Award_of_Order_Receipt_of_Order: Receipt of an order from Indian Railways (South Western Railway) was announced on September 12, 2025.
The company announced a final dividend of Rs 0.50 per share (25%) on May 16, 2025, with an effective date of August 01, 2025.
The company has a history of bonus issues, including a 1:2 bonus ratio announced on August 10, 2017 (ex-bonus date: September 28, 2017) and a 1:1 bonus ratio announced on January 25, 2007 (ex-bonus date: May 31, 2007).
A stock split was announced on May 23, 2011, with the old face value of Rs 10 split into a new face value of Rs 2 (ex-split date: October 03, 2011).
Moneycontrol analysis, as of September 17, 2025, indicates a very bullish sentiment on the stock.
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