New Delhi: State-run engineering giant Bharat Heavy Electricals Limited (BHEL) reported a sharp surge in its financial performance for the fourth quarter of FY26, posting a 154% year-on-year rise in standalone net profit to ₹1,283 crore.
The company also recorded strong revenue growth and improved profitability, reflecting robust operational performance across segments.
Strong Revenue and Profit Growth in Q4 FY26
BHEL’s revenue from operations for the March quarter rose 37% to ₹12,310 crore, compared to ₹8,993 crore in the same period last year.
- Net Profit: ₹1,283 crore (up 154% YoY)
- Revenue: ₹12,310 crore (up 37% YoY)
- Profit Before Tax: ₹1,720 crore (up 144% YoY)
- Earnings Per Share (EPS): ₹3.68 (vs ₹1.45 YoY)
Total income for the quarter also increased 37.3% to ₹12,562 crore.
Full-Year FY26 Performance Remains Robust
For the full financial year FY26, BHEL delivered strong growth across key financial metrics:
- Net Profit: ₹1,578 crore (up 208% YoY)
- Revenue: ₹33,782 crore (up 19% YoY)
- EPS: ₹4.53 (vs ₹1.47 in FY25)
The company’s consistent growth highlights improved execution and demand across its business segments.
Dividend Announcement: ₹1.40 Per Share
The Board of Directors has recommended a final dividend of ₹1.40 per equity share (70% on face value of ₹2) for FY26.
- Dividend Payout: ₹1.40 per share
- Payment Timeline: Within 30 days of AGM approval
This continues BHEL’s track record of rewarding shareholders, following moderate payouts in recent years.
Segment-Wise Performance
BHEL saw strong contributions from both its major segments:
- Power Segment: Revenue of ₹9,510 crore; PBT ₹1,870 crore
- Industry Segment: Revenue of ₹2,801 crore; PBT ₹673 crore
Balance Sheet Remains Strong
The company maintained a solid financial position:
- Total Assets: ₹76,560 crore
- Net Worth: ₹26,516 crore
- Cash & Bank Balance: ₹11,867 crore
- Debt Status: No long-term debt
BHEL also retained its CARE A1+ rating for commercial paper, indicating strong creditworthiness.
Stock Hits 52-Week High After Results
Following the strong Q4 performance, BHEL shares surged sharply on May 4, 2026.
- Stock rose up to 12.7%, hitting an upper circuit
- Reached a 52-week high of ₹399
- Market capitalization stood at approximately ₹1.35 lakh crore
The stock has gained over 73% in the past year, reflecting strong investor confidence.
Corporate Governance and Auditor’s Report
The company noted that due to the presence of only one Independent Director, the Audit Committee meeting could not be held. As a result, financial results were directly approved by the Board.
Joint statutory auditors issued an unmodified (clean) audit opinion, indicating no concerns in financial reporting.
Operational Updates and Joint Ventures
BHEL continues to operate through key joint ventures, including:
- BHEL-GE Gas Turbine Services Pvt. Ltd.
- NTPC-BHEL Power Projects Pvt. Ltd.
- Raichur Power Corporation Ltd.
- Bharat Coal Gasification and Chemicals Ltd.
The company also highlighted ₹196 crore in overdue receivables from Sudan, which it considers recoverable despite ongoing challenges.
About Bharat Heavy Electricals Limited (BHEL)
Bharat Heavy Electricals Limited is India’s largest engineering and manufacturing public sector enterprise, primarily engaged in power generation equipment and industrial solutions. Established in 1964, the Maharatna PSU plays a critical role in India’s energy and infrastructure sectors, with a strong presence in thermal, hydro, nuclear, and renewable energy projects, as well as transportation and defense engineering.
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