Bharat Heavy Electricals Limited

Web: bhel.com NSE: BHEL BSE: 500103 SECTOR: Capital Goods - Electrical Equipment

423 5(1%)

Near 52W High of 425

Volume

94L as on 26, May

Open

279

High

234

Low

228

418

VWAP

418

52 Week High

425

52 Week Low

205

Viand Research Rating

Quality Score

00/00

Growth Score

00/00

Valuation Score

00/00

Momentum Score

00/00

Analyst Recommendations

BUY/SELL

Hold | Buy | Strong Buy

Analyst Price Target

Market Cap (cr)

1,47,291

No. of Shares

348

P/E

409.05

P/B

3.57

Face Value

Div. Yield

Book Value (TTM)

CASH

DEBT

EPS (TTM)

ROE

0.84

ROCE

Profit Growth

Listing Date

11-Nov-03

Promoter Holding

58.17%

FII Holding

7.23%

DII Holding

23.93%

Price Chart

Price Performance

1 Week4%

1 Month24%

3 Months58%

6 Months44%

1 Year61%

YTD43%

Moving Average

5 Day SMA412

10 Day SMA407

20 Day SMA393

30 Day SMA370

50 Day SMA325

61 Day SMA313

80 Day SMA301

200 Day SMA272

PIVOT LEVEL

	Standard	Camarilla	Fibonacci	Woodie's
Resistance 3	435	422	428	436
Resistance 2	428	421	424	428
Resistance 1	424	420	421	425
Pivot Point	417	419	417	417
Support 1	413	418	413	414
Support 2	406	417	410	406
Support 3	402	416	406	403

Competitors/Peers

#	Symbol	MCAP	LTP	1W	1M	6M	1Y	P/E	Ind PE	Debt/Eq	Div Yld %
1	BEL	3,08,692	422	1%	5%	1%	9%	53	0	0	0
2	HAL	2,96,709	4437	2%	4%	2%	12%	29	0	0	0
3	CUMMINSIND	1,68,233	6069	3%	3%	23%	82%	65	0	0	0
4	POWERINDIA	1,66,834	37430	8%	12%	62%	108%	133	0	0	0
5	ABB	1,52,892	7215	8%	7%	31%	13%	80	0	0	0
6	CGPOWER	1,47,573	937	7%	7%	28%	27%	97	0	0	0
7	BHEL	1,47,291	423	4%	24%	44%	61%	409	0	0	0
8	POLYCAB	1,45,471	9662	5%	20%	28%	61%	41	0	0	0
9	TMCV	1,42,138	386	2%	9%	19%	17%	0	0	0	0
10	SIEMENS	1,38,812	3898	4%	3%	11%	12%	66	0	0	0
Load More

Shareholding Pattern (%)

	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023	Mar 2023	Dec 2022	Sep 2022	Jun 2022	Mar 2022	Dec 2021	Sep 2021
Promoters	(-5.01) 58.17%	(0.01) 63.17%	(0.01) 63.17%	(0.01) 63.17%	(0.01) 63.17%	(0.01) 63.17%	(0.01) 63.17%	(0.01) 63.17%	(0.01) 63.17%	(0.01) 63.17%	(0.01) 63.17%	(0.01) 63.17%	(0.01) 63.17%	(0.01) 63.17%	(0.01) 63.17%	(0.01) 63.17%	(0.01) 63.17%	(0.01) 63.17%	(0.01) 63.17%
FIIs	(1.01) 7.23%	(0.01) 6.28%	(-0.11) 6.23%	(-0.81) 6.36%	(-0.81) 7.19%	(-1.51) 7.98%	(0.41) 9.48%	(0.31) 9.10%	(1.71) 8.76%	(-0.21) 7.04%	(-0.51) 7.23%	(-0.81) 7.77%	(0.11) 8.58%	(3.71) 8.48%	(0.61) 4.81%	(0.21) 4.22%	(0.11) 4.00%	(-0.51) 3.86%	(0.01) 4.31%
DIIs	(4.21) 23.93%	(1.11) 19.70%	(0.21) 18.62%	(2.11) 18.45%	(0.91) 16.34%	(0.81) 15.49%	(-0.31) 14.69%	(-0.91) 15.03%	(-1.61) 15.95%	(1.61) 17.58%	(-0.41) 15.99%	(0.91) 16.36%	(0.81) 15.50%	(0.31) 14.71%	(1.91) 14.45%	(-0.11) 12.59%	(-1.11) 12.66%	(0.11) 13.80%	(0.01) 13.73%
Government	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	10.63%	10.85%	11.98%	12.02%	13.29%	13.36%	12.66%	12.71%	12.14%	12.23%	13.62%	12.71%	12.76%	13.63%	17.57%	20.02%	20.17%	19.17%	18.79%
No. of Shareholders	1,755,262	1,791,831	1,961,664	1,983,215	2,120,567	2,083,026	1,995,266	1,880,851	1,499,202	1,265,436	1,227,658	1,012,617	1,016,936	1,027,958	1,192,232	1,287,798	1,281,743	1,204,729	1,138,654

Quarterly Results

	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023	Mar 2023	Dec 2022	Sep 2022	Jun 2022	Mar 2022	Dec 2021	Sep 2021	Jun 2021
Sales	12310	8473	7512	5487	8993	7277	6584	5485	8260	5504	5125	5003	8227	5263	5203	4672	8062	5136	5112	2901
Expenses	10557	7928	6931	6024	8162	6973	6309	5654	7532	5287	5279	5182	7178	5119	5446	4842	6910	5047	5142	3377
Operating Profit	1753	545	581	-537	832	304	275	-169	728	217	-154	-178	1049	144	-244	-170	1152	89	-30	-476
OPM %	14	6	8	-10	9	4	4	-3	9	4	-3	-4	13	3	-5	-4	14	2	-1	-16
Other Income	260	235	189	185	159	126	128	111	170	118	192	130	125	110	226	84	131	104	96	74
Interest	198	182	195	181	201	184	201	162	193	190	180	168	161	139	123	98	96	86	90	84
Depreciation	88	78	75	75	85	68	60	59	68	61	60	60	73	62	59	67	86	74	43	111
Profit before tax	1728	520	499	-608	704	179	141	-279	636	84	-202	-276	940	53	-199	-251	1102	33	-67	-597
Tax %	25	25	25	-25	28	25	25	-24	23	29	-69	-26	30	20	-106	-25	17	18	-31	-25
Net Profit	1290	390	375	-456	504	135	106	-211	490	60	-63	-205	658	42	12	-188	912	27	-47	-448
EPS in Rs	3.71	1.12	1.08	-1.31	1.45	0.39	0.3	-0.61	1.41	0.17	-0.18	-0.59	1.89	0.12	0.03	-0.54	2.62	0.08	-0.13	-1.29

Profit and Loss

	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013
Sales	33782	28339	23893	23365	21211	17309	21463	30441	28827	28465	25505	31323	39561	48903
Expenses	31440	26940	23182	22321	20383	20357	21596	28409	27174	27370	26862	29183	34982	39420
Operating Profit	2342	1399	711	1044	828	-3049	-133	2032	1653	1095	-1357	2141	4579	9483
OPM %	7	5	3	4	4	-18	-1	7	6	4	-5	7	12	19
Other Income	869	524	608	544	405	393	590	662	679	753	1492	1221	1617	1132
Interest	756	906	828	612	448	467	613	378	330	413	360	92	133	128
Depreciation	316	272	249	260	314	473	503	476	787	850	937	1082	985	957
Profit before tax	2139	746	243	716	470	-3596	-659	1840	1215	586	-1161	2187	5078	9531
Tax %	25	28	-16	9	5	-25	123	46	64	22	-39	34	31	30
Net Profit	1600	534	282	654	445	-2700	-1468	1002	438	455	-706	1450	3502	6693
EPS in Rs	4.6	1.53	0.81	1.88	1.28	-7.75	-4.21	2.89	1.2	1.25	-1.92	3.96	9.54	18.23
Dividend Payout %	30	33	31	21	31	0	0	69	151	85	-14	20	20	20

Cash Flows

	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013
Cash from Operating Activity	5837	2192	-3713	-741	660	560	-2892	-3860	989	560	374	821	4512	1759
Cash from Investing Activity	-3035	-2731	1331	1480	-1118	-42	1877	1919	961	-565	23	650	-868	-1113
Cash from Financing Activity	-1806	-857	2656	89	-329	-394	1622	-32	-667	-468	-122	-3543	523	472
Net Cash Flow	996	-1396	274	829	-787	123	608	-1973	1283	-473	275	-2071	4167	1118

Balance Sheet

	Mar 2026	Sep 2025	Mar 2025	Sep 2024	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013
Equity Capital	696	696	696	696	696	696	696	696	696	696	734	490	490	490	490	490
Reserves	25450	23704	24026	23503	23742	23682	25810	25287	27964	30208	31601	31899	31825	33717	32681	30059
Borrowings	8187	10969	9015	9128	8856	5454	4830	4951	5080	2598	110	156	211	1889	4693	2698
Other Liabilities	41852	36603	35112	28466	26489	27832	25654	25025	26550	30987	31495	29153	33051	34887	37468	38572
Total Liabilities	76186	71972	68849	61793	59784	57664	56991	55960	60291	64490	63940	61698	65577	70983	75331	71818
Fixed Assets	3094	2958	2947	2571	2574	2476	2398	2491	2817	2970	3073	3601	3969	4230	4729	4667
CWIP	399	275	195	311	308	354	431	420	314	235	203	168	318	2614	2931	2467
Investments	302	282	276	267	256	235	205	185	162	152	429	757	796	6	6	6
Other Assets	72390	68457	65431	58645	56646	54599	53956	52864	56998	61132	60235	57171	60494	64134	67665	64679
Total Assets	76186	71972	68849	61793	59784	57664	56991	55960	60291	64490	63940	61698	65577	70983	75331	71818

OI Chart

Price

Delivery

#	Date	239 78% 425	Value (Cr)	Q/T 152	Del 41	Del 524
1	27-May	422	448	111	42	188
2	26-May	418	394	136	36	141
3	25-May	419	460	139	41	188
4	22-May	409	323	122	38	122
5	21-May	408	336	96	31	103
6	20-May	408	441	116	36	160
7	19-May	401	465	131	37	173
8	18-May	395	420	90	35	148
9	15-May	398	640	139	40	258
10	14-May	413	913	135	44	406
11	13-May	404	879	121	39	340
12	12-May	392	697	149	44	307
13	11-May	401	739	133	38	282
14	8-May	405	724	141	42	306
15	7-May	406	1492	135	34	502
16	6-May	386	798	134	33	260
17	5-May	375	1265	80	28	351
18	4-May	377	4009	166	25	1017
19	30-Apr	352	608	98	42	253
20	29-Apr	344	513	100	39	201
21	28-Apr	355	525	191	47	249
22	27-Apr	349	713	133	39	276
23	24-Apr	337	536	161	43	231
24	23-Apr	338	558	131	42	234
25	22-Apr	334	531	113	39	210
26	21-Apr	333	670	156	41	272
27	20-Apr	326	1636	135	34	559
28	17-Apr	317	784	135	31	242
29	16-Apr	309	859	168	45	390
30	15-Apr	292	374	113	46	170
31	13-Apr	288	1216	224	57	694
32	10-Apr	285	425	139	43	184
33	9-Apr	277	874	146	31	270
34	8-Apr	266	464	197	48	223
35	7-Apr	254	371	173	40	147
36	6-Apr	246	338	150	24	82
37	2-Apr	248	196	120	24	47
38	1-Apr	252	362	106	41	149
39	30-Mar	246	308	140	34	104
40	27-Mar	255	179	124	44	80
41	25-Mar	262	180	122	40	72
42	24-Mar	258	190	92	38	72
43	23-Mar	253	296	94	47	138
44	20-Mar	262	501	181	44	221
45	19-Mar	252	119	115	27	32

Daily Market Cap

Date	Total Market Cap	Change	Chg %
27-May	1,46,456c	662c	0.45
26-May	1,45,794c	105c	0.07
25-May	1,45,899c	3,447c	2.42
22-May	1,42,451c	279c	0.20
21-May	1,42,173c	174c	0.12
20-May	1,42,347c	3,204c	2.30
19-May	1,39,143c	3,273c	2.41
18-May	1,35,870c	2,646c	1.91
15-May	1,38,517c	5,850c	4.05
14-May	1,44,366c	7,765c	5.68
12-May	1,36,601c	3,221c	2.30
11-May	1,39,822c	1,724c	1.22
07-May	1,41,546c	8,200c	6.15
06-May	1,33,346c	2,908c	2.23
05-May	1,30,438c	4,318c	3.42
04-May	1,26,120c	5,272c	4.36
30-Apr	1,20,849c	721c	0.60
29-Apr	1,20,128c	3,346c	2.71
28-Apr	1,23,474c	5,850c	4.97
24-Apr	1,17,624c	279c	0.24
23-Apr	1,17,346c	1,055c	0.91
22-Apr	1,16,291c	686c	0.59
21-Apr	1,15,605c	2,437c	2.15
20-Apr	1,13,167c	3,061c	2.78
17-Apr	1,10,106c	7,612c	7.43
15-Apr	1,02,495c	3,506c	3.54
13-Apr	98,988c	0	0

Stock Checklist

Price is above from 52 week high low average: 98%

Stock is trading above all short term SMAs: YES

Stock is trading above all long term SMAs: YES

Stock is Consistently Improving Long Term: NO

FII purchased in last quarter: YES

Promoters are buying the stock: NO

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