Shares of Bharat Heavy Electricals experienced a notable surge of 1.70%, trading at Rs 238.48 in Friday's session. The stock witnessed high volume and a jump in volume during the trading session. Bharat Heavy Electricals is a constituent of the Nifty Midcap 150 index.
Financial Overview
Bharat Heavy Electricals' financial performance reveals the following trends based on consolidated figures:
Quarterly Performance:
Here's a summary of the company's consolidated quarterly financial 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 |
Annual Performance:
The consolidated annual financial performance is as follows:
| 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 |
Income Statement (Yearly):
| 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 |
| 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 |
| 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 |
| 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 |
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Basic EPS (Rs.) | -7.75 | 1.28 | 1.37 | 0.81 | 1.53 |
| Diluted EPS (Rs.) | -7.75 | 1.28 | 1.37 | 0.81 | 1.53 |
| Book Value /Share (Rs.) | 74.59 | 76.12 | 77.05 | 70.18 | 71.00 |
| Dividend/Share (Rs.) | 0.00 | 0.40 | 0.40 | 0.25 | 0.50 |
| Face Value | 2 | 2 | 2 | 2 | 2 |
| Gross Profit Margin (%) | -16.13 | 5.13 | 5.15 | 4.85 | 6.02 |
| Operating Margin (%) | -18.86 | 3.65 | 4.04 | 3.80 | 5.06 |
| Net Profit Margin (%) | -15.85 | 1.85 | 1.80 | 0.91 | 1.67 |
| Return on Equity (%) | -10.38 | 1.68 | 1.77 | 1.15 | 2.15 |
| ROCE (%) | -9.36 | 2.22 | 2.62 | 2.70 | 3.60 |
| Return On Assets (%) | -4.88 | 0.79 | 0.80 | 0.47 | 0.78 |
| Current Ratio (X) | 1.39 | 1.30 | 1.29 | 1.36 | 1.51 |
| Quick Ratio (X) | 1.04 | 1.00 | 1.00 | 1.08 | 1.17 |
| Debt to Equity (x) | 0.19 | 0.18 | 0.20 | 0.36 | 0.36 |
| Interest Coverage Ratios (X) | -8.73 | 3.06 | 2.31 | 1.58 | 2.28 |
| Asset Turnover Ratio (%) | 31.33 | 0.38 | 0.40 | 0.40 | 0.45 |
| Inventory Turnover Ratio (X) | 2.41 | 0.77 | 0.94 | 3.42 | 3.32 |
| 3 Yr CAGR Sales (%) | -22.66 | -16.53 | 4.34 | 17.49 | 15.59 |
| 3 Yr CAGR Net Profit (%) | 81.93 | -42.39 | -46.89 | -71.80 | 9.75 |
| P/E (x) | -6.29 | 38.55 | 51.13 | 305.31 | 141.46 |
| P/B (x) | 0.65 | 0.65 | 0.91 | 3.52 | 3.04 |
| EV/EBITDA (x) | -5.41 | 13.55 | 19.22 | 76.56 | 44.77 |
| P/S (x) | 0.98 | 0.81 | 1.05 | 3.60 | 2.65 |
Bharat Heavy Electricals has announced several corporate actions, including the receipt of a notice from GST Authorities, Telangana, as announced on September 19, 2025. Other announcements include newspaper publications and intimation regarding investor group meetings.
The company announced a final dividend of Rs 0.50 per share (25%) with an effective date of August 1, 2025. Further, Bharat Heavy Electricals had a stock split, where the old face value of Rs 10 was split to a new face value of Rs 2, with an ex-split date of October 3, 2011.
The stock reflects very bullish sentiment according to a Moneycontrol analysis as of September 17, 2025.
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