New Delhi: Bharat Heavy Electricals Limited (BHEL) has reported a strong financial performance for the second quarter and first half of the financial year 2026-27 (FY27), recording significant growth in revenue and profitability. The company’s standalone net profit increased 120% year-on-year (YoY) to ₹810 crore in the July-September quarter, compared with ₹368 crore in the corresponding quarter of the previous financial year.
Revenue from operations rose 24% to ₹9,300 crore in Q2 FY27, against ₹7,512 crore a year earlier. The company also recorded substantial improvements in profit before tax (PBT), while its half-year financial results reflected a turnaround from losses in the previous year.
BHEL’s Board of Directors approved the unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026, at a meeting held on October 14, 2026.
BHEL Q2 FY27 Financial Results: Key Highlights
BHEL reported strong year-on-year growth across its key standalone financial indicators for the July-September 2026 quarter.
- Revenue from Operations: ₹9,300 crore, up 24% from ₹7,512 crore in Q2 FY26.
- Profit Before Tax (PBT): ₹1,078 crore, up 119% from ₹492 crore in the corresponding quarter last year.
- Net Profit: ₹810 crore, up 120% from ₹368 crore in Q2 FY26.
- Earnings Per Share (EPS): ₹2.33.
The increase in revenue and profitability highlights the company’s improved financial performance during the quarter.
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BHEL H1 FY27 Results: Revenue Rises 31% to ₹16,998 Crore
For the six months ended September 30, 2026, BHEL recorded a significant improvement in its financial performance, moving from losses in the corresponding period of the previous financial year to profitability.
The company’s standalone financial highlights for H1 FY27 are as follows:
- Revenue from Operations: ₹16,998 crore, up 31% from ₹12,999 crore in H1 FY26.
- Profit Before Tax: ₹1,591 crore, compared with a loss of ₹115 crore in the corresponding period last year.
- Net Profit: ₹1,192 crore, against a net loss of ₹87 crore in H1 FY26.
- Earnings Per Share (EPS): ₹3.42.
The half-year performance reflects stronger revenue generation and a turnaround in profitability compared with the previous year.
BHEL Consolidated Results Show Strong Sequential Growth
BHEL also reported substantial quarter-on-quarter growth in its consolidated financial performance during Q2 FY27.
Consolidated net profit rose approximately 118% to ₹821 crore from ₹376.71 crore in the April-June 2026 quarter. Consolidated revenue from operations increased around 21% to ₹9,300 crore from ₹7,697.72 crore in the preceding quarter.
Consolidated profit before tax rose to ₹1,089.07 crore from ₹507.70 crore in Q1 FY27.
These figures indicate a strong improvement in consolidated earnings and revenue during the September quarter.
BHEL Segment Performance: Power and Industry Businesses
BHEL’s Power and Industry segments contributed to its revenue during the first half of FY27.
Power Segment
The Power segment recorded revenue of ₹12,557 crore in H1 FY27 on a standalone basis. The consolidated segment revenue for Q2 FY27 stood at ₹6,637.90 crore, compared with ₹5,675.64 crore in the corresponding quarter of the previous year.
Industry Segment
The Industry segment generated standalone revenue of ₹4,441 crore in H1 FY27. Its consolidated revenue for Q2 FY27 rose to ₹2,662.45 crore from ₹1,836.16 crore a year earlier.
The segment figures highlight the contribution of BHEL’s power generation equipment and industrial businesses to its overall performance.
BHEL Shares Outperform the Market in 2026
BHEL’s shares have recorded a significant rise during calendar year 2026, outperforming the broader equity market, according to the information provided.
The stock surpassed its previous high of ₹455.90, recorded on October 7, 2026. So far in 2026, BHEL shares have gained approximately 61%, while the BSE Sensex has declined 14.6%.
Over the past year, BHEL’s market price has doubled, compared with an approximately 11% decline in the benchmark index.
The share-price performance reflects the stock’s strong market momentum. However, past performance does not guarantee future returns.
BHEL Discloses Overdue Receivables of ₹196 Crore
In its financial disclosures, BHEL reported overdue receivables of ₹196 crore related to a customer in Sudan. The company considers the amount recoverable.
BHEL stated that making a provision for the receivables would affect profit before tax by ₹176 crore, net of the existing provision.
The disclosure provides information about the company’s outstanding dues and the potential financial impact if additional provisioning becomes necessary.
Audit Committee Non-Compliance Disclosed
BHEL also disclosed non-compliance concerning the composition of its audit committee.
The company’s statutory auditors issued unmodified limited review conclusions on the financial results. The company also reported that there were no exceptional items during the quarter.
These disclosures form part of the company’s regulatory reporting for the quarter and half-year ended September 30, 2026.
About Bharat Heavy Electricals Limited (BHEL)
Bharat Heavy Electricals Limited is a central public sector enterprise under the Ministry of Heavy Industries, Government of India. The company is one of India’s major engineering and manufacturing organisations, supplying equipment and providing services for the power generation, transmission, transportation, defence and industrial sectors. BHEL plays an important role in supporting India’s infrastructure development and domestic manufacturing capabilities.
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