Bharat Heavy Electricals Ltd (BHEL) Financials - Quarterly Results, Profit & Loss, Balance Sheet, Cash Flow Bharat Heavy Electricals Ltd reported sales of ₹9,300 Cr, operating profit of ₹1,026 Cr (OPM 11%) and net profit of ₹821 Cr for the quarter ended Sep 2026. Figures in ₹ crore, consolidated where available.
BHEL quarterly results (₹ Cr) Metric Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026 Sales 7,277 8,993 5,487 7,512 8,473 12,310 7,698 9,300 Expenses 6,973 8,162 6,024 6,931 7,928 10,557 7,194 8,275 Operating Profit 304 832 -537 581 545 1,753 504 1,026 OPM 4.2% 9% -10% 8% 6% 14% 7% 11% Other Income 126 159 185 189 235 260 226 271 Interest 184 201 181 195 182 198 140 125 Depreciation 68 85 75 75 78 88 82 83 Profit before tax 179 704 -608 499 520 1,728 508 1,089 Tax 25% 28% -25% 25% 25% 25% 26% 25% Net Profit 135 504 -456 375 390 1,290 377 821 EPS in Rs 0.39 1.45 -1.31 1.08 1.12 3.71 1.08 2.36
BHEL profit & loss, annual (₹ Cr) Metric Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM Sales 21,211 23,365 23,893 28,339 33,782 37,782 Expenses 20,383 22,321 23,182 26,940 31,210 33,953 Operating Profit 828 1,044 711 1,399 2,572 3,828 OPM 3.9% 4.5% 3% 4.9% 8% 10% Other Income 405 544 608 524 869 992 Interest 448 612 828 906 986 645 Depreciation 314 260 249 272 316 331 Profit before tax 470 716 243 746 2,139 3,844 Tax 5% 9% -16% 28% 25% - Net Profit 445 654 282 534 1,600 2,879 EPS in Rs 1.28 1.88 0.81 1.53 4.6 8.27 Dividend Payout 31% 21% 31% 33% 30% -
BHEL balance sheet (₹ Cr) Metric Mar 2024 Mar 2025 Sep 2025 Mar 2026 Sep 2026 Equity Capital 696 696 - 696 696 Reserves 23,742 24,026 - 25,450 26,056 Borrowings 8,856 9,015 - 8,187 6,018 Other Liabilities 26,489 35,112 - 42,554 44,070 Total Liabilities 59,784 68,849 - 76,888 76,841 Fixed Assets 2,574 2,947 - 2,999 3,048 CWIP 308 195 - 495 459 Investments 256 276 - 302 798 Other Assets 56,646 65,431 - 73,092 72,536 Total Assets 59,784 68,849 - 76,888 76,841
BHEL cash flows (₹ Cr) Metric Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 Cash from Operating Activity 660 -741 -3,713 2,192 5,837 Cash from Investing Activity -1,118 1,480 1,331 -2,731 -3,035 Cash from Financing Activity -329 89 2,656 -857 -1,806 Net Cash Flow -787 829 274 -1,396 996 Free Cash Flow 498 -921 -3,936 1,902 5,261 CFO/OP 30% -82% -554% 151% 227%
BHEL ratios Metric Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 Debtor Days 52 49 73 76 73 Inventory Days 274 261 253 289 309 Days Payable 291 345 270 259 231 Cash Conversion Cycle 35 -35 56 106 151 Working Capital Days 1 -5 60 99 86 ROCE 3% 4% 3% 5% 9%