Shares of Bharat Heavy Electricals declined by 2.05% to Rs 212.52 in Thursday's session, as of 1:44 pm. The stock is a constituent of the Nifty Midcap 150 index.
Financial Performance:
The consolidated financial performance of Bharat Heavy Electricals is as follows:
Quarterly Results:
For the quarter-ending June 2025:
- Revenue: Rs 5,486.91 Crore, slightly up from Rs 5,484.92 Crore in June 2024
- Net Profit: Rs -469.17 Crore, compared to Rs -225.61 Crore in June 2024
- EPS: Rs -1.31, compared to Rs -0.61 in June 2024
For the year-ending March 2025:
- Revenue: Rs 28,339.48 Crore, a notable increase from Rs 23,892.78 Crore in March 2024
- Net Profit: Rs 474.89 Crore, compared to Rs 218.24 Crore in March 2024
- EPS: Rs 1.53, up from Rs 0.81 in March 2024
- BVPS: Rs 71.00, slightly up from Rs 70.18 in March 2024
- ROE: 2.15%, compared to 1.15% in March 2024
- Debt to Equity: 0.36, same as in March 2024
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Sales | 28,339 | 23,892 | 23,364 | 21,211 | 17,308 |
| Other Income | 465 | 546 | 488 | 354 | 348 |
| Total Income | 28,804 | 24,439 | 23,853 | 21,565 | 17,657 |
| Total Expenditure | 27,369 | 23,529 | 22,908 | 20,789 | 20,923 |
| EBIT | 1,434 | 909 | 944 | 776 | -3,266 |
| Interest | 748 | 731 | 521 | 355 | 373 |
| Tax | 211 | -39 | 2 | 25 | -896 |
| Net Profit | 474 | 218 | 421 | 394 | -2,743 |
The total revenue for the year ending March 2025 was Rs 28,339 Crore, which is an 18.62% increase compared to the revenue of Rs 23,892 Crore in March 2024. The net profit for the year ending March 2025 was Rs 474 Crore, compared to Rs 218 Crore in March 2024.
Consolidated Quarterly Income Statement:
| Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | |
|---|---|---|---|---|---|
| Sales | 5,486 | 8,993 | 7,277 | 6,584 | 5,484 |
| Other Income | 171 | 149 | 107 | 111 | 96 |
| Total Income | 5,658 | 9,142 | 7,385 | 6,695 | 5,581 |
| Total Expenditure | 6,098 | 8,246 | 7,040 | 6,369 | 5,713 |
| EBIT | -440 | 895 | 344 | 326 | -131 |
| Interest | 181 | 201 | 183 | 201 | 161 |
| Tax | -152 | 199 | 44 | 35 | -67 |
| Net Profit | -469 | 494 | 116 | 89 | -225 |
The sales for the quarter ending June 2025 was Rs 5,486 Crore. The net profit for the quarter ending June 2025 was Rs -469 Crore.
Consolidated Cash Flow:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Operating Activities | 2,191 | -3,712 | -741 | 660 | 561 |
| Investing Activities | -2,730 | 1,330 | 1,480 | -1,125 | -42 |
| Financing Activities | -856 | 2,655 | 88 | -329 | -395 |
| Others | 0 | 0 | 0 | 7 | 0 |
| Net Cash Flow | -1,395 | 273 | 827 | -787 | 123 |
Consolidated Balance Sheet:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Share Capital | 696 | 696 | 696 | 696 | 696 |
| Reserves & Surplus | 24,025 | 23,742 | 26,131 | 25,810 | 25,287 |
| Current Liabilities | 28,225 | 25,332 | 23,351 | 21,371 | 20,359 |
| Other Liabilities | 15,135 | 9,234 | 9,190 | 8,366 | 8,896 |
| Total Liabilities | 68,083 | 59,005 | 59,369 | 56,243 | 55,240 |
| Fixed Assets | 3,142 | 2,882 | 2,829 | 2,829 | 2,910 |
| Current Assets | 42,759 | 34,545 | 30,082 | 27,861 | 28,343 |
| Other Assets | 22,180 | 21,577 | 26,457 | 25,552 | 23,986 |
| Total Assets | 68,083 | 59,005 | 59,369 | 56,243 | 55,240 |
| Contingent Liabilities | 8,632 | 10,085 | 7,661 | 7,022 | 6,324 |
Ratios:
| 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 /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 the following:
- Award of Order: LOI from MB Power (Madhya Pradesh) Limited, announced on September 3, 2025.
- Dissolution of Joint Venture: Revised declaration regarding dissolution of Joint Venture Company, announced on September 2, 2025.
- Receipt of Order: Receipt of an order from Commissioner CGST(Appeal)/Dehradun, announced on September 2, 2025.
- A final dividend of Rs 0.50 per share (25%) was announced on May 16, 2025, with an effective date of August 1, 2025.
- Bonus shares were issued on August 10, 2017, in the ratio of 1:2.
- A bonus issue was announced on January 25, 2007, with a ratio of 1:1.
- On May 23, 2011, the company announced a stock split, with the old face value of Rs 10 being split into a new face value of Rs 2. The ex-split date was October 3, 2011.
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