Bharat Heavy Electricals Limited - energy and power in New Delhi, Delhi, India. FY 2026 financials and compliance.
CIN L74899DL1964GOI004281 Incorporated 13 November 1964 ROC Delhi HQ New Delhi, Delhi, India
Active Listed - NSE: BHEL · BSE: 500103 Public Limited Union Government Company energy and power
Data last updated
Revenue · FY 2026
₹33,782 Cr
▲ 19.21% YoY
EBITDA · FY 2026
₹3,149.84 Cr
▲ 84.54% YoY
Net profit · FY 2026
₹1,600.26 Cr
▲ 199.73% YoY
Authorised capital
₹2,000 Cr
Registered with MCA
Paid-up capital
₹696.41 Cr
Issued & subscribed
Open charges
₹80,000 Cr
Satisfied ₹1,619.87 Cr
Company age
62 yrs
Est. 1964
Employees · EPFO
19,632
Latest available

About Bharat Heavy Electricals Limited

Data last updated: 22 December 2025

Bharat Heavy Electricals Limited is a public limited union government company based in New Delhi, Delhi, India. It specialises in power equipment manufacturers, a part of the broader energy and power sector. Incorporated on 13 November 1964, the company has been in operation for over 62 years.

Registered with ROC Delhi under CIN L74899DL1964GOI004281. Listed on BSE: 500103 and NSE: BHEL.

Capital: an authorised share capital of ₹2,000 Cr and a paid-up capital of ₹696.41 Cr. It is led by directors including Bani Varma and Krishna Kumar Thakur.

Last AGM: 19 August 2025. Financial statements filed for year ended 31 March 2025. Office: Bhel House Siri Fort, New Delhi, Delhi, India – 110049.

As per the financials filed for FY 2025, the company reported a revenue of ₹28,805 Cr, a growth of 18% compared to the previous year.

The company has a workforce of approximately 19,632 employees as per the latest available data.

The company is associated with 1 brand - Bharat Heavy Electricals. As per MCA filings, the company has open charges of ₹80,000 Cr and satisfied charges of ₹1,619.87 Cr on record.

The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website bhel.com.

Company Details of Bharat Heavy Electricals Limited
CIN L74899DL1964GOI004281
Registration Number 004281
Incorporation Date 13 November 1964
ROC Delhi
Listing Status Listed (BSE: 500103, NSE: BHEL)
Company Status Active
Date of Last AGM 19 August 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
Contact Details
  • Email
    *****@*****.com
  • Telephone
    +91-****-******
  • Website
  • Social Media
  • Registered Address
    Bhel House Siri Fort, New Delhi, Delhi, India – 110049
  • Industry
    Energy and Power, Power Equipment Manufacturers
Company report
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Financials, compliance, directors, charges, ownership and filings for Bharat Heavy Electricals Limited in one report.

10-year financials Directors & ownership Charges & compliance

Associated Brands with Bharat Heavy Electricals Limited

Bharat Heavy Electricals Limited operates one associated brand: Bharat Heavy Electricals. These brands represent Bharat Heavy Electricals Limited's diversified market presence and brand portfolio.

Brand Description Website
Manufacturer of electrical component bhel.com

Business Activity of Bharat Heavy Electricals Limited

Bharat Heavy Electricals Limited is engaged in the principal business activity of manufacturing, with detailed activities including electrical equipment, general purpose and special purpose machinery & equipment, transport equipment.

Main Activity Group Code Description of Main Activity Business Activity Code Description of Business Activity Turnover Percentage
C Manufacturing C10 Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment *********

Auditor Details of Bharat Heavy Electricals Limited

Bharat Heavy Electricals Limited is audited by K. Venkatachalam Aiyer & Co. (ICAI peer reviewed, certificate valid till 2027-12-31); K. S. Dua & Co. (ICAI peer reviewed, certificate valid till 2028-10-31) for the financial year 2026, as reported in its NSE exchange filings. The statutory auditor is responsible for expressing an independent opinion on whether the financial statements present a true and fair view in accordance with applicable accounting standards.

Name Financial year Audit opinion
K. Venkatachalam Aiyer & Co. (ICAI peer reviewed, certificate valid till 2027-12-31); K. S. Dua & Co. (ICAI peer reviewed, certificate valid till 2028-10-31) FY 2026 Declaration of unmodified opinion

Board of Directors of Bharat Heavy Electricals Limited

Bharat Heavy Electricals Limited is currently managed by 12 directors, with 94 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.

Current Directors
Name Designation Appointment Date Tenure Status
Bani Varma Whole-Time Director 09 Oct 2023 2 Years 8 Months Current
Krishna Kumar Thakur Whole-Time Director 04 Jul 2023 3 Years 0 Months Current
Tajinder Gupta Whole-Time Director 20 Sep 2023 2 Years 9 Months Current
Koppu Sadashiv Murthy Whole-Time Director 01 Nov 2023 2 Years 8 Months Current
Rajesh Kumar Dwivedi Cfo 19 Jun 2024 2 Years 0 Months Current
Ramesh Patlya Mawaskar Director 08 Jun 2023 3 Years 1 Months Current
Showing 6 of 12 current directors. View all directors

Financials of Bharat Heavy Electricals Limited FY 2026 filings available

Bharat Heavy Electricals Limited reported revenue of ₹33,782 Cr (up 19.21% YoY) for FY 2026. Profit growth despite declining revenue indicates effective cost management and margin discipline.

Revenue · FY 2026
₹33,782 Cr ▲ 19.21%
Profit · FY 2026
₹1,600.26 Cr ▲ 199.73%
EBITDA · FY 2026
₹3,149.84 Cr ▲ 84.54%
Revenue₹ Cr · Consolidated020,00040,000FY 2020: ₹21,490 Cr21,490FY 2020FY 2021: ₹17,309 Cr · -19.5% YoY17,309-19.5%FY 2021FY 2022: ₹21,211 Cr · +22.5% YoY21,211+22.5%FY 2022FY 2023: ₹23,365 Cr · +10.2% YoY23,365+10.2%FY 2023FY 2024: ₹23,893 Cr · +2.3% YoY23,893+2.3%FY 2024FY 2025: ₹28,339 Cr · +18.6% YoY28,339+18.6%FY 2025FY 2026: ₹33,782 Cr · +19.2% YoY33,782+19.2%FY 2026
Net Profit₹ Cr · Consolidated-3,000-2,000-1,00001,0002,000FY 2020: ₹1,468 Cr (loss)-1,468FY 2020FY 2021: ₹2,700 Cr (loss) · -83.9% YoY-2,700FY 2021FY 2022: ₹445 Cr · +116.5% YoY445+116.5%FY 2022FY 2023: ₹477 Cr · +7.3% YoY477+7.3%FY 2023FY 2024: ₹282 Cr · -40.9% YoY282-40.9%FY 2024FY 2025: ₹534 Cr · +89.2% YoY534+89.2%FY 2025FY 2026: ₹1,600 Cr · +199.7% YoY1,600+199.7%FY 2026
Quarterly Revenue₹ Cr · vs same quarter last year05,00010,00015,000Q1'25: ₹5,485 Cr · +9.6% YoY5,485+9.6%Q1'25Q2'25: ₹6,584 Cr · +28.5% YoY6,584+28.5%Q2'25Q3'25: ₹7,277 Cr · +32.2% YoY7,277+32.2%Q3'25Q4'25: ₹8,993 Cr · +8.9% YoY8,993+8.9%Q4'25Q1'26: ₹5,487 Cr · +0% YoY5,487+0%Q1'26Q2'26: ₹7,512 Cr · +14.1% YoY7,512+14.1%Q2'26Q3'26: ₹8,473 Cr · +16.4% YoY8,473+16.4%Q3'26Q4'26: ₹12,310 Cr · +36.9% YoY12,310+36.9%Q4'26
Metrics FY 2026 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020
Revenue from Operations ₹33,782 Cr ₹28,339 Cr ₹23,893 Cr ₹23,365 Cr ₹21,211 Cr ₹17,309 Cr ₹21,490 Cr
Other Income ₹807.65 Cr ₹465.31 Cr ₹546.27 Cr ₹488.63 Cr ₹354.54 Cr ₹348.42 Cr ₹564.3 Cr
Total Income ₹34,590 Cr ₹28,805 Cr ₹24,439 Cr ₹23,854 Cr ₹21,566 Cr ₹17,657 Cr ₹22,054 Cr
Cost of Materials Consumed ₹24,274 Cr ₹20,387 Cr ₹17,244 Cr ₹15,954 Cr ₹9,848.24 Cr ₹11,071 Cr ₹14,729 Cr
Purchases of Stock-in-Trade ₹0 ₹0 ₹0 ₹0 ₹4,141.75 Cr ₹0 ₹0
Changes in Inventories -₹1,291.19 Cr -₹1,542.32 Cr -₹436.74 Cr -₹57.15 Cr ₹532.41 Cr ₹510.86 Cr -₹1,015.56 Cr
Employee Benefit Expense ₹6,467.62 Cr ₹5,923.42 Cr ₹5,628.84 Cr ₹5,700.63 Cr ₹5,519.05 Cr ₹5,378.15 Cr ₹5,408.71 Cr
Finance Costs ₹756.41 Cr ₹748.33 Cr ₹731.29 Cr ₹521.43 Cr ₹355.96 Cr ₹373.95 Cr ₹508.45 Cr
Depreciation & Amortisation ₹315.87 Cr ₹271.96 Cr ₹248.9 Cr ₹260.34 Cr ₹314.12 Cr ₹473.25 Cr ₹503.27 Cr
Other Expenses ₹1,989.28 Cr ₹2,329.34 Cr ₹844.23 Cr ₹1,051.21 Cr ₹434.06 Cr ₹3,489.94 Cr ₹2,605.42 Cr
Total Expenses ₹32,512 Cr ₹28,118 Cr ₹24,260 Cr ₹23,430 Cr ₹21,146 Cr ₹21,297 Cr ₹22,739 Cr
Profit Before Exceptional Items & Tax ₹2,077.56 Cr ₹686.59 Cr ₹178.68 Cr ₹423.42 Cr ₹420.04 Cr -₹3,640.07 Cr -₹684.79 Cr
Exceptional Items ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Profit Before Tax ₹2,077.56 Cr ₹686.59 Cr ₹178.68 Cr ₹423.42 Cr ₹420.04 Cr -₹3,640.07 Cr -₹684.79 Cr
Total Tax Expense ₹538.35 Cr ₹211.7 Cr -₹39.56 Cr ₹2.05 Cr ₹25.75 Cr -₹896.23 Cr ₹809.28 Cr
Net Profit ₹1,600.26 Cr ₹533.9 Cr ₹282.22 Cr ₹477.39 Cr ₹444.71 Cr -₹2,699.7 Cr -₹1,468.35 Cr
  attributable to Owners - ₹533.9 Cr ₹282.22 Cr - ₹446.03 Cr - -
  attributable to NCI - ₹0 ₹0 - -₹1.32 Cr - -
Other Comprehensive Income -₹61 Lakh -₹163.34 Cr -₹82.55 Cr -₹16.68 Cr ₹76.9 Cr ₹20.05 Cr -₹273.74 Cr
Total Comprehensive Income ₹1,599.65 Cr ₹370.56 Cr ₹199.67 Cr ₹460.71 Cr ₹521.61 Cr -₹2,679.65 Cr -₹1,742.09 Cr
EBITDA (computed) ₹3,149.84 Cr ₹1,706.88 Cr ₹1,158.87 Cr ₹1,205.19 Cr ₹1,090.12 Cr -₹2,792.87 Cr ₹326.93 Cr
Basic EPS ₹4.60 ₹1.53 ₹0.81 ₹1.37 ₹1.28 ₹-7.75 ₹-4.22
Diluted EPS ₹4.60 ₹1.53 ₹0.81 ₹1.37 ₹1.28 ₹-7.75 ₹-4.22
Metrics FY 2026 FY 2025 FY 2024 FY 2023
Total Assets ₹76,186 Cr ₹68,083 Cr ₹59,006 Cr ₹59,370 Cr
Non-current Assets ₹24,730 Cr ₹25,323 Cr ₹24,460 Cr ₹29,288 Cr
Current Assets ₹51,455 Cr ₹42,760 Cr ₹34,546 Cr ₹30,082 Cr
Property, Plant & Equipment ₹2,933.28 Cr ₹2,862.46 Cr ₹2,510.69 Cr ₹2,408.74 Cr
Inventories ₹13,335 Cr ₹9,869.49 Cr ₹7,220.57 Cr ₹6,755.9 Cr
Trade Receivables ₹6,796.27 Cr ₹5,884.35 Cr ₹4,785.38 Cr ₹3,128.35 Cr
Cash & Equivalents ₹1,435.45 Cr ₹439.21 Cr ₹1,835.04 Cr ₹1,560.52 Cr
Equity (Net Worth) ₹26,147 Cr ₹24,722 Cr ₹24,439 Cr ₹26,828 Cr
Equity Share Capital ₹696.41 Cr ₹696.41 Cr ₹696.41 Cr ₹696.41 Cr
Borrowings (Non-current) ₹168.18 Cr ₹162.39 Cr ₹23.55 Cr ₹33.75 Cr
Borrowings (Current) ₹8,018.77 Cr ₹8,852.21 Cr ₹8,832.91 Cr ₹5,419.76 Cr
Total Debt (computed) ₹8,186.95 Cr ₹9,014.6 Cr ₹8,856.46 Cr ₹5,453.51 Cr
Current Liabilities ₹32,302 Cr ₹28,226 Cr ₹25,333 Cr ₹23,351 Cr
Total Liabilities ₹50,039 Cr ₹43,361 Cr ₹34,567 Cr ₹32,542 Cr
The balance sheet became part of the exchange results-filing format in FY2023 - earlier years were not filed and are hidden.
Metrics FY 2026 FY 2025 FY 2024 FY 2023 FY 2022
Operating Cash Flow ₹5,837.38 Cr ₹2,191.89 Cr -₹3,712.9 Cr -₹741.52 Cr ₹660.25 Cr
Investing Cash Flow -₹3,035.41 Cr -₹2,730.91 Cr ₹1,330.86 Cr ₹1,480.46 Cr -₹1,125.32 Cr
Financing Cash Flow -₹1,805.73 Cr -₹856.81 Cr ₹2,655.74 Cr ₹88.96 Cr -₹322.21 Cr
Capital Expenditure ₹589.04 Cr ₹281.54 Cr ₹232.5 Cr ₹188.4 Cr ₹169.38 Cr
Free Cash Flow (computed) ₹5,248.34 Cr ₹1,910.35 Cr -₹3,945.4 Cr -₹929.92 Cr ₹490.87 Cr
Dividends Paid ₹174.64 Cr ₹87.44 Cr ₹139.45 Cr ₹139.18 Cr ₹30 Lakh
Net Change in Cash ₹996.24 Cr -₹1,395.83 Cr ₹273.7 Cr ₹827.9 Cr -₹787.28 Cr
The cash-flow statement became part of the exchange results-filing format in FY2022 - earlier years were not filed and are hidden.
Metrics Q4 FY26 Q3 FY26 Q2 FY26 Q1 FY26 Q4 FY25 Q3 FY25 Q2 FY25 Q1 FY25 Q4 FY24 Q3 FY24 Q2 FY24 Q1 FY24
Revenue from Operations ₹12,310 Cr ₹8,473.1 Cr ₹7,511.8 Cr ₹5,486.91 Cr ₹8,993.37 Cr ₹7,277.09 Cr ₹6,584.1 Cr ₹5,484.92 Cr ₹8,260.25 Cr ₹5,503.81 Cr ₹5,125.29 Cr ₹5,003.43 Cr
Other Income ₹243.13 Cr ₹218.75 Cr ₹174.61 Cr ₹171.16 Cr ₹149.27 Cr ₹107.91 Cr ₹111.27 Cr ₹96.86 Cr ₹156.59 Cr ₹95.82 Cr ₹180.09 Cr ₹113.77 Cr
Total Income ₹12,554 Cr ₹8,691.85 Cr ₹7,686.41 Cr ₹5,658.07 Cr ₹9,142.64 Cr ₹7,385 Cr ₹6,695.37 Cr ₹5,581.78 Cr ₹8,416.84 Cr ₹5,599.63 Cr ₹5,305.38 Cr ₹5,117.2 Cr
Cost of Materials Consumed ₹8,346.12 Cr ₹6,058.8 Cr ₹5,741.38 Cr ₹4,127.98 Cr ₹6,978.8 Cr ₹4,894.91 Cr ₹4,788.68 Cr ₹3,725.08 Cr ₹5,755.48 Cr ₹3,939.48 Cr ₹3,974.35 Cr ₹3,316.63 Cr
Purchases of Stock-in-Trade ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Changes in Inventories -₹325.48 Cr -₹196.4 Cr -₹527.87 Cr -₹241.44 Cr -₹1,025.53 Cr -₹310.73 Cr -₹358.55 Cr ₹152.49 Cr -₹234.9 Cr ₹1.92 Cr -₹347.8 Cr ₹144.04 Cr
Employee Benefit Expense ₹1,994.48 Cr ₹1,530.71 Cr ₹1,479.97 Cr ₹1,462.46 Cr ₹1,539.36 Cr ₹1,482.03 Cr ₹1,467.17 Cr ₹1,434.86 Cr ₹1,484.68 Cr ₹1,442.01 Cr ₹1,282.11 Cr ₹1,420.04 Cr
Finance Costs ₹197.52 Cr ₹182.47 Cr ₹195.21 Cr ₹181.21 Cr ₹201.43 Cr ₹183.78 Cr ₹201.38 Cr ₹161.74 Cr ₹193.32 Cr ₹189.6 Cr ₹180.41 Cr ₹167.96 Cr
Depreciation & Amortisation ₹87.9 Cr ₹77.99 Cr ₹75.46 Cr ₹74.52 Cr ₹85.02 Cr ₹67.88 Cr ₹60.09 Cr ₹58.97 Cr ₹68.4 Cr ₹60.6 Cr ₹59.91 Cr ₹59.99 Cr
Other Expenses ₹542.15 Cr ₹534.69 Cr ₹237.39 Cr ₹675.05 Cr ₹669.06 Cr ₹906.64 Cr ₹411.8 Cr ₹341.84 Cr ₹527.13 Cr ₹183.26 Cr ₹604.34 Cr ₹486.81 Cr
Total Expenses ₹10,843 Cr ₹8,188.26 Cr ₹7,201.54 Cr ₹6,279.78 Cr ₹8,448.14 Cr ₹7,224.51 Cr ₹6,570.57 Cr ₹5,874.98 Cr ₹7,794.11 Cr ₹5,816.87 Cr ₹5,753.32 Cr ₹5,595.47 Cr
Profit Before Exceptional Items & Tax ₹1,710.81 Cr ₹503.59 Cr ₹484.87 Cr -₹621.71 Cr ₹694.5 Cr ₹160.49 Cr ₹124.8 Cr -₹293.2 Cr ₹622.73 Cr -₹217.24 Cr -₹447.94 Cr -₹478.27 Cr
Exceptional Items ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Profit Before Tax ₹1,710.81 Cr ₹503.59 Cr ₹484.87 Cr -₹621.71 Cr ₹694.5 Cr ₹160.49 Cr ₹124.8 Cr -₹293.2 Cr ₹622.73 Cr -₹217.24 Cr -₹447.94 Cr -₹478.27 Cr
Total Tax Expense ₹437.12 Cr ₹129.43 Cr ₹124.34 Cr -₹152.54 Cr ₹199.97 Cr ₹44.05 Cr ₹35.27 Cr -₹67.59 Cr ₹146.7 Cr -₹46.14 Cr -₹197.87 Cr -₹118.27 Cr
Net Profit ₹1,290.47 Cr ₹390.4 Cr ₹374.89 Cr -₹455.5 Cr ₹504.45 Cr ₹134.7 Cr ₹106.15 Cr -₹211.4 Cr ₹489.62 Cr -₹148.77 Cr -₹238.12 Cr -₹343.89 Cr
  attributable to Owners - ₹390.4 Cr ₹374.89 Cr - ₹504.45 Cr ₹134.7 Cr - -₹211.4 Cr ₹489.62 Cr - - -₹343.89 Cr
  attributable to NCI - ₹0 ₹0 - ₹0 - - - ₹0 - - ₹0
Other Comprehensive Income ₹100.61 Cr -₹33.72 Cr -₹33.85 Cr -₹33.65 Cr -₹92.04 Cr -₹23.91 Cr -₹23.79 Cr -₹23.6 Cr -₹46.04 Cr -₹12.22 Cr -₹12.15 Cr -₹12.14 Cr
Total Comprehensive Income ₹1,391.08 Cr ₹356.68 Cr ₹341.04 Cr -₹489.15 Cr ₹412.41 Cr ₹110.79 Cr ₹82.36 Cr -₹235 Cr ₹443.58 Cr -₹160.99 Cr -₹250.27 Cr -₹356.03 Cr
EBITDA (computed) ₹1,996.23 Cr ₹764.05 Cr ₹755.54 Cr -₹365.98 Cr ₹980.95 Cr ₹412.15 Cr ₹386.27 Cr -₹72.49 Cr ₹884.45 Cr ₹32.96 Cr -₹207.62 Cr -₹250.32 Cr
Basic EPS ₹3.71 ₹1.12 ₹1.08 ₹-1.31 ₹1.45 ₹0.39 ₹0.30 ₹-0.61 ₹1.41 ₹-0.43 ₹-0.68 ₹-0.99
Diluted EPS ₹3.71 ₹1.12 ₹1.08 ₹-1.31 ₹1.45 ₹0.39 ₹0.30 ₹-0.61 ₹1.41 ₹-0.43 ₹-0.68 ₹-0.99
Latest 12 quarters shown of 24 on record.
Segment · Q4 FY26 (latest quarter) Revenue Result (PBIT) Assets Liabilities
Power ₹9,509.85 Cr ₹1,869.9 Cr ₹49,209 Cr ₹32,518 Cr
Industry ₹2,800.52 Cr ₹673.03 Cr ₹10,542 Cr ₹7,735.31 Cr
Segment · FY 2026 (annual) Revenue Result (PBIT) Assets Liabilities
Power ₹25,407 Cr ₹2,451.24 Cr - -
Industry ₹8,375.47 Cr ₹1,684.07 Cr - -
Metrics FY 2026 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020
Revenue from Operations ₹33,782 Cr ₹28,339 Cr ₹23,893 Cr ₹23,365 Cr ₹21,211 Cr ₹17,308 Cr ₹21,486 Cr
Other Income ₹846.39 Cr ₹503.39 Cr ₹587.92 Cr ₹514.81 Cr ₹367.81 Cr ₹369.84 Cr ₹580.58 Cr
Total Income ₹34,629 Cr ₹28,843 Cr ₹24,481 Cr ₹23,880 Cr ₹21,579 Cr ₹17,678 Cr ₹22,067 Cr
Cost of Materials Consumed ₹24,274 Cr ₹20,387 Cr ₹17,244 Cr ₹15,954 Cr ₹9,848.24 Cr ₹11,071 Cr ₹14,727 Cr
Purchases of Stock-in-Trade ₹0 ₹0 ₹0 ₹0 ₹4,141.75 Cr ₹0 ₹0
Changes in Inventories -₹1,291.19 Cr -₹1,542.32 Cr -₹436.74 Cr -₹57.15 Cr ₹532.41 Cr ₹510.86 Cr -₹1,015.53 Cr
Employee Benefit Expense ₹6,467.62 Cr ₹5,923.42 Cr ₹5,628.84 Cr ₹5,700.63 Cr ₹5,516.84 Cr ₹5,372.26 Cr ₹5,403.47 Cr
Finance Costs ₹756.41 Cr ₹748.33 Cr ₹731.29 Cr ₹521.43 Cr ₹354.72 Cr ₹373.09 Cr ₹506.95 Cr
Depreciation & Amortisation ₹315.87 Cr ₹271.96 Cr ₹248.9 Cr ₹260.34 Cr ₹314.06 Cr ₹473.05 Cr ₹502.86 Cr
Other Expenses ₹1,989.28 Cr ₹2,329.34 Cr ₹844.23 Cr ₹1,051.21 Cr ₹433.93 Cr ₹3,489.59 Cr ₹2,603.91 Cr
Total Expenses ₹32,512 Cr ₹28,118 Cr ₹24,260 Cr ₹23,430 Cr ₹21,142 Cr ₹21,290 Cr ₹22,729 Cr
Profit Before Exceptional Items & Tax ₹2,116.3 Cr ₹724.67 Cr ₹220.33 Cr ₹449.6 Cr ₹436.95 Cr -₹3,611.6 Cr -₹662.11 Cr
Exceptional Items ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Profit Before Tax ₹2,116.3 Cr ₹724.67 Cr ₹220.33 Cr ₹449.6 Cr ₹436.95 Cr -₹3,611.6 Cr -₹662.11 Cr
Total Tax Expense ₹538.35 Cr ₹211.7 Cr -₹39.56 Cr ₹2.05 Cr ₹26.71 Cr -₹894.46 Cr ₹810.86 Cr
Net Profit ₹1,577.95 Cr ₹512.97 Cr ₹259.89 Cr ₹447.55 Cr ₹410.24 Cr -₹2,717.14 Cr -₹1,472.97 Cr
Other Comprehensive Income -₹37 Lakh -₹163.5 Cr -₹82.41 Cr -₹17.27 Cr ₹76.87 Cr ₹19.98 Cr -₹273.88 Cr
Total Comprehensive Income ₹1,577.58 Cr ₹349.47 Cr ₹177.48 Cr ₹430.28 Cr ₹487.11 Cr -₹2,697.16 Cr -₹1,746.85 Cr
EBITDA (computed) ₹3,188.58 Cr ₹1,744.96 Cr ₹1,200.52 Cr ₹1,231.37 Cr ₹1,105.73 Cr -₹2,765.46 Cr ₹347.7 Cr
Basic EPS ₹4.53 ₹1.47 ₹0.75 ₹1.29 ₹1.18 ₹-7.80 ₹-4.23
Diluted EPS ₹4.53 ₹1.47 ₹0.75 ₹1.29 ₹1.18 ₹-7.80 ₹-4.23
Metrics FY 2026 FY 2025 FY 2024 FY 2023
Total Assets ₹76,560 Cr ₹68,479 Cr ₹59,417 Cr ₹59,804 Cr
Non-current Assets ₹25,105 Cr ₹25,720 Cr ₹24,872 Cr ₹29,722 Cr
Current Assets ₹51,455 Cr ₹42,760 Cr ₹34,546 Cr ₹30,082 Cr
Property, Plant & Equipment ₹2,933.28 Cr ₹2,862.46 Cr ₹2,510.69 Cr ₹2,408.74 Cr
Inventories ₹13,335 Cr ₹9,869.49 Cr ₹7,220.57 Cr ₹6,755.9 Cr
Trade Receivables ₹6,796.27 Cr ₹5,884.35 Cr ₹4,785.38 Cr ₹3,128.35 Cr
Cash & Equivalents ₹1,435.45 Cr ₹439.21 Cr ₹1,835.04 Cr ₹1,560.52 Cr
Equity (Net Worth) ₹26,516 Cr ₹25,113 Cr ₹24,851 Cr ₹27,262 Cr
Equity Share Capital ₹696.41 Cr ₹696.41 Cr ₹696.41 Cr ₹696.41 Cr
Borrowings (Non-current) ₹168.18 Cr ₹162.39 Cr ₹23.55 Cr ₹33.75 Cr
Borrowings (Current) ₹8,018.77 Cr ₹8,852.21 Cr ₹8,832.91 Cr ₹5,419.76 Cr
Total Debt (computed) ₹8,186.95 Cr ₹9,014.6 Cr ₹8,856.46 Cr ₹5,453.51 Cr
Current Liabilities ₹32,307 Cr ₹28,231 Cr ₹25,333 Cr ₹23,351 Cr
Total Liabilities ₹50,044 Cr ₹43,366 Cr ₹34,567 Cr ₹32,542 Cr
The balance sheet became part of the exchange results-filing format in FY2023 - earlier years were not filed and are hidden.
Metrics FY 2026 FY 2025 FY 2024 FY 2023 FY 2022
Operating Cash Flow ₹5,837.38 Cr ₹2,191.89 Cr -₹3,712.9 Cr -₹741.52 Cr ₹660.27 Cr
Investing Cash Flow -₹3,035.41 Cr -₹2,730.91 Cr ₹1,330.86 Cr ₹1,480.46 Cr -₹1,125.33 Cr
Financing Cash Flow -₹1,805.73 Cr -₹856.81 Cr ₹2,655.74 Cr ₹88.96 Cr -₹329.5 Cr
Capital Expenditure ₹589.04 Cr ₹281.54 Cr ₹232.5 Cr ₹188.4 Cr ₹169.39 Cr
Free Cash Flow (computed) ₹5,248.34 Cr ₹1,910.35 Cr -₹3,945.4 Cr -₹929.92 Cr ₹490.88 Cr
Dividends Paid ₹174.64 Cr ₹87.44 Cr ₹139.45 Cr ₹139.18 Cr ₹30 Lakh
Net Change in Cash ₹996.24 Cr -₹1,395.83 Cr ₹273.7 Cr ₹827.9 Cr -₹794.56 Cr
The cash-flow statement became part of the exchange results-filing format in FY2022 - earlier years were not filed and are hidden.
Metrics Q4 FY26 Q3 FY26 Q2 FY26 Q1 FY26 Q4 FY25 Q3 FY25 Q2 FY25 Q1 FY25 Q4 FY24 Q3 FY24 Q2 FY24 Q1 FY24
Revenue from Operations ₹12,310 Cr ₹8,473.1 Cr ₹7,511.8 Cr ₹5,486.91 Cr ₹8,993.37 Cr ₹7,277.09 Cr ₹6,584.1 Cr ₹5,484.92 Cr ₹8,260.25 Cr ₹5,503.81 Cr ₹5,125.29 Cr ₹5,003.43 Cr
Other Income ₹252.12 Cr ₹227.08 Cr ₹181.75 Cr ₹185.44 Cr ₹158.79 Cr ₹116.24 Cr ₹118.41 Cr ₹109.95 Cr ₹164.92 Cr ₹104.15 Cr ₹196.75 Cr ₹122.1 Cr
Total Income ₹12,562 Cr ₹8,700.18 Cr ₹7,693.55 Cr ₹5,672.35 Cr ₹9,152.16 Cr ₹7,393.33 Cr ₹6,702.51 Cr ₹5,594.87 Cr ₹8,425.17 Cr ₹5,607.96 Cr ₹5,322.04 Cr ₹5,125.53 Cr
Cost of Materials Consumed ₹8,346.12 Cr ₹6,058.8 Cr ₹5,741.38 Cr ₹4,127.98 Cr ₹6,978.8 Cr ₹4,894.91 Cr ₹4,788.68 Cr ₹3,725.08 Cr ₹5,755.48 Cr ₹3,939.48 Cr ₹3,974.35 Cr ₹3,316.63 Cr
Purchases of Stock-in-Trade ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Changes in Inventories -₹325.48 Cr -₹196.4 Cr -₹527.87 Cr -₹241.44 Cr -₹1,025.53 Cr -₹310.73 Cr -₹358.55 Cr ₹152.49 Cr -₹234.9 Cr ₹1.92 Cr -₹347.8 Cr ₹144.04 Cr
Employee Benefit Expense ₹1,994.48 Cr ₹1,530.71 Cr ₹1,479.97 Cr ₹1,462.46 Cr ₹1,539.36 Cr ₹1,482.03 Cr ₹1,467.17 Cr ₹1,434.86 Cr ₹1,484.68 Cr ₹1,442.01 Cr ₹1,282.11 Cr ₹1,420.04 Cr
Finance Costs ₹197.52 Cr ₹182.47 Cr ₹195.21 Cr ₹181.21 Cr ₹201.43 Cr ₹183.78 Cr ₹201.38 Cr ₹161.74 Cr ₹193.32 Cr ₹189.6 Cr ₹180.41 Cr ₹167.96 Cr
Depreciation & Amortisation ₹87.9 Cr ₹77.99 Cr ₹75.46 Cr ₹74.52 Cr ₹85.02 Cr ₹67.88 Cr ₹60.09 Cr ₹58.97 Cr ₹68.4 Cr ₹60.6 Cr ₹59.91 Cr ₹59.99 Cr
Other Expenses ₹542.15 Cr ₹534.69 Cr ₹237.39 Cr ₹675.05 Cr ₹669.06 Cr ₹906.64 Cr ₹411.8 Cr ₹341.84 Cr ₹527.13 Cr ₹183.26 Cr ₹604.34 Cr ₹486.81 Cr
Total Expenses ₹10,843 Cr ₹8,188.26 Cr ₹7,201.54 Cr ₹6,279.78 Cr ₹8,448.14 Cr ₹7,224.51 Cr ₹6,570.57 Cr ₹5,874.98 Cr ₹7,794.11 Cr ₹5,816.87 Cr ₹5,753.32 Cr ₹5,595.47 Cr
Profit Before Exceptional Items & Tax ₹1,719.8 Cr ₹511.92 Cr ₹492.01 Cr -₹607.43 Cr ₹704.02 Cr ₹168.82 Cr ₹131.94 Cr -₹280.11 Cr ₹631.06 Cr -₹208.91 Cr -₹431.28 Cr -₹469.94 Cr
Exceptional Items ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Profit Before Tax ₹1,719.8 Cr ₹511.92 Cr ₹492.01 Cr -₹607.43 Cr ₹704.02 Cr ₹168.82 Cr ₹131.94 Cr -₹280.11 Cr ₹631.06 Cr -₹208.91 Cr -₹431.28 Cr -₹469.94 Cr
Total Tax Expense ₹437.12 Cr ₹129.43 Cr ₹124.34 Cr -₹152.54 Cr ₹199.97 Cr ₹44.05 Cr ₹35.27 Cr -₹67.59 Cr ₹146.7 Cr -₹46.14 Cr -₹197.87 Cr -₹118.27 Cr
Net Profit ₹1,282.68 Cr ₹382.49 Cr ₹367.67 Cr -₹454.89 Cr ₹504.05 Cr ₹124.77 Cr ₹96.67 Cr -₹212.52 Cr ₹484.36 Cr -₹162.77 Cr -₹233.41 Cr -₹351.67 Cr
Other Comprehensive Income ₹100.64 Cr -₹33.67 Cr -₹33.67 Cr -₹33.67 Cr -₹92 Cr -₹23.83 Cr -₹23.84 Cr -₹23.83 Cr -₹45.87 Cr -₹12.18 Cr -₹12.18 Cr -₹12.18 Cr
Total Comprehensive Income ₹1,383.32 Cr ₹348.82 Cr ₹334 Cr -₹488.56 Cr ₹412.05 Cr ₹100.94 Cr ₹72.83 Cr -₹236.35 Cr ₹438.49 Cr -₹174.95 Cr -₹245.59 Cr -₹363.85 Cr
EBITDA (computed) ₹2,005.22 Cr ₹772.38 Cr ₹762.68 Cr -₹351.7 Cr ₹990.47 Cr ₹420.48 Cr ₹393.41 Cr -₹59.4 Cr ₹892.78 Cr ₹41.29 Cr -₹190.96 Cr -₹241.99 Cr
Basic EPS ₹3.68 ₹1.10 ₹1.06 ₹-1.31 ₹1.45 ₹0.36 ₹0.28 ₹-0.61 ₹1.39 ₹-0.47 ₹-0.67 ₹-1.01
Diluted EPS ₹3.68 ₹1.10 ₹1.06 ₹-1.31 ₹1.45 ₹0.36 ₹0.28 ₹0.61 ₹1.39 ₹-0.47 ₹-0.67 ₹-1.01
Latest 12 quarters shown of 25 on record.
Segment · Q4 FY26 (latest quarter) Revenue Result (PBIT) Assets Liabilities
Power ₹9,509.85 Cr ₹1,869.9 Cr ₹49,209 Cr ₹32,518 Cr
Industry ₹2,800.52 Cr ₹673.03 Cr ₹10,542 Cr ₹7,735.31 Cr
Segment · FY 2026 (annual) Revenue Result (PBIT) Assets Liabilities
Power ₹25,407 Cr ₹2,451.24 Cr - -
Industry ₹8,375.47 Cr ₹1,684.07 Cr - -
Want more history and ratios?
You're viewing the latest exchange-filed financials for Bharat Heavy Electricals Limited. The full report adds 10+ years of line-item history, 20+ ratios, peer benchmarks and a downloadable PDF.
10+ years of history 20+ ratios & benchmarks Downloadable PDF

Shareholding Pattern of Bharat Heavy Electricals Limited

As per the shareholding pattern filed with NSE for the quarter ended Mar 2026, promoters hold 58.17%, foreign institutional investors hold 7.23%, domestic institutional investors hold 23.98%, retail and other public shareholders hold 10.62% of Bharat Heavy Electricals Limited. The company had 1,755,262 shareholders on record.

Promoters: 58.17%DII (Domestic Institutional): 23.98%FII (Foreign Institutional): 7.23%Retail & Others: 10.62%
Mar 2026
QUARTER
58.17% Promoters
23.98% DII (Domestic Institutional)
7.23% FII (Foreign Institutional)
10.62% Retail & Others
Promoter holding - history
Now 58.17% · Mar 2026High 63.17% · Jan 2019Low 58.17% · Mar 2026
57%59%61%63%65%Dec 2015Mar 2018Jun 2020Dec 2022Jun 2025Dec 2015: 63.06%Mar 2016: 63.06%Jun 2016: 63.06%Sep 2016: 63.06%Dec 2016: 63.06%Mar 2017: 63.06%Jun 2017: 63.06%Sep 2017: 63.06%Oct 2017: 63.06%Dec 2017: 63.06%Mar 2018: 63.06%Jun 2018: 63.06%Sep 2018: 63.06%Dec 2018: 63.06%Jan 2019: 63.17%Mar 2019: 63.17%Jun 2019: 63.17%Sep 2019: 63.17%Dec 2019: 63.17%Mar 2020: 63.17%Jun 2020: 63.17%Sep 2020: 63.17%Dec 2020: 63.17%Mar 2021: 63.17%Jun 2021: 63.17%Sep 2021: 63.17%Dec 2021: 63.17%Mar 2022: 63.17%Jun 2022: 63.17%Sep 2022: 63.17%Dec 2022: 63.17%Mar 2023: 63.17%Jun 2023: 63.17%Sep 2023: 63.17%Dec 2023: 63.17%Mar 2024: 63.17%Jun 2024: 63.17%Sep 2024: 63.17%Dec 2024: 63.17%Mar 2025: 63.17%Jun 2025: 63.17%Sep 2025: 63.17%Dec 2025: 63.17%Mar 2026: 58.17%63.17%58.17%
Shareholding trend - last 6 quarters
Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Promoters58.17%63.17%63.17%63.17%63.17%63.17%
Public41.83%36.83%36.83%36.83%36.83%36.83%
Shareholding history - year on year (as at 31 March)
Mar 2026Mar 2025Mar 2024Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017Mar 2016
Promoters58.17%63.17%63.17%63.17%63.17%63.17%63.17%63.17%63.06%63.06%63.06%
Public41.83%36.83%36.83%36.83%36.83%36.83%36.83%36.83%36.94%36.94%36.94%
Promoter change (YoY, %pts)-5.00+0.00+0.00+0.00+0.00+0.00+0.00+0.11+0.00+0.00-

Board & Governance of Bharat Heavy Electricals Limited

As per the corporate governance filing with NSE for the quarter ended 31-MAR-2026, the board of Bharat Heavy Electricals Limited has 11 directors - 3 independent and 6 executive. The board is chaired by K S Murthy.

DirectorPositionOn board sinceListed boards
K S Murthy Executive Director · MD · Chairperson 2023-11-01 1
Asit Gopal Non-Executive - Nominee Director 2026-02-03 4
Vijay Mittal Non-Executive - Nominee Director 2022-03-25 2
Ramesh Patlya Mawaskar Non-Executive - Independent Director 2023-06-08 1
Ashok Kumar Aseri Non-Executive - Independent Director 2025-03-29 1
Aashish Chaturvedi Non-Executive - Independent Director 2025-03-29 1
Krishna Kumar Thakur Executive Director 2023-07-04 1
Tajinder Gupta Executive Director 2023-09-20 1
Bani Varma Executive Director 2023-10-09 1
Rajesh Kumar Dwivedi Executive Director 2024-06-19 1
S M Ramanathan Executive Director 2025-04-30 1
Board Committees
CommitteeMembers
Audit Committee Ramesh Patlya Mawaskar (Chairperson), Ashok Kumar Aseri, Aashish Chaturvedi
Nomination and remuneration committee Ramesh Patlya Mawaskar (Chairperson), Vijay Mittal, Ashok Kumar Aseri
Stakeholders Relationship Committee Ashok Kumar Aseri (Chairperson), Ramesh Patlya Mawaskar (Chairperson), Krishna Kumar Thakur, Tajinder Gupta, Bani Varma, Rajesh Kumar Dwivedi
Risk Management Committee Vijay Mittal (Chairperson), Aashish Chaturvedi, Ramesh Patlya Mawaskar, Krishna Kumar Thakur, Tajinder Gupta, Bani Varma, Rajesh Kumar Dwivedi, S M Ramanathan, Jitendra Das, Shyamala Venkataraman
Corporate Social Responsibility Committee Ramesh Patlya Mawaskar (Chairperson), Krishna Kumar Thakur, Tajinder Gupta, Rajesh Kumar Dwivedi

Group Structure of Bharat Heavy Electricals Limited

Bharat Heavy Electricals Limited has 3 associated companies. This group structure data is as of FY 2023. The corporate group structure reflects Bharat Heavy Electricals Limited's business expansion strategy and organizational complexity.

3
Associated companies

Charges & Borrowings of Bharat Heavy Electricals Limited

Open charges
₹80,000 Cr
Satisfied charges
₹1,619.87 Cr
Breakdown by lending institutions
State Bank of India₹80,000.00 Cr
Latest charge details
DateLenderAmountStatus
08 Jun 1993 State Bank of India ₹70,500 Cr Open
08 Jun 1993 State Bank of India ₹9,500 Cr Open
19 Nov 2003 Canara Bank ₹15 Cr Satisfied
15 Nov 2001 Canara Bank ₹500 Cr Satisfied
20 May 2000 Idbi Bank Limited ₹3 Cr Satisfied

Total charge records: 27 View all charges

Employees and EPFO Compliance at Bharat Heavy Electricals Limited

Bharat Heavy Electricals Limited has a workforce of 19,632 employees as of Mar 31, 2024.

Employee count
19,632
Active EPFO establishments
10
Employee growth
-2.54%
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026

Employee Count & EPFO Data of Bharat Heavy Electricals Limited

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Monthly employee headcount & PF contributions
EPFO establishment details & ECR filing status
Year-wise workforce analytics & attrition trends
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GST Compliance of Bharat Heavy Electricals Limited

XX%
Compliant
GSTR-1
GSTR-3B
GSTR-9
MH
KA
UP
TN
TS

GSTIN & GST Filing Data of Bharat Heavy Electricals Limited

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GSTIN registrations & state-wise presence
Filing compliance - GSTR-1, GSTR-3B, GSTR-9
HSN/SAC codes with goods & services details
Taxpayer type, jurisdiction & business constitution

Credit Ratings, Litigation & Regulatory Alerts for Bharat Heavy Electricals Limited

Credit rating
AAA
AA+
AA
AA-
! !
2015 2017 2019 2021 2023
Litigation
District Court 35
High Court 45
Supreme Court 0
NCLT / NCLAT 0
Pending
Disposed
Regulatory alerts
GSTIN Cancelled
Andhra Pradesh
GSTIN Cancelled
Telangana (on application)
EPFO Delay
12 months delay - Haryana
Violations via Directors
20 MCA + 19 Bank defaults

Credit Ratings, Legal Cases & Regulatory Alerts of Bharat Heavy Electricals Limited

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Credit rating history across CARE, ICRA, Brickwork & India Ratings
Instrument-wise ratings, outlook & action timeline
Court-wise litigation (District, High Court, Supreme Court, NCLT)
Group company & common directorship litigation
Statutory compliance alerts (GSTIN, EPFO, ROC)
Director & company violations (MCA, SEBI, Banks, BSE/NSE)

MSME Payment Delays by Bharat Heavy Electricals Limited

MSME Payment Delays by Bharat Heavy Electricals Limited

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Amounts outstanding to MSME suppliers
Delay periods & reasons for delayed payments
Half-yearly MSME-1 filing history
Vendor-payment behaviour as a counterparty risk signal

Subsidiaries & Group Companies of Bharat Heavy Electricals Limited

Subsidiaries & Group Companies of Bharat Heavy Electricals Limited

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Holding & parent company details
Subsidiaries & step-down subsidiaries with % holding
Associates & joint ventures with partner details
Investments in other entities year-on-year

MCA Filings & Documents of Bharat Heavy Electricals Limited

MCA Filings & Documents of Bharat Heavy Electricals Limited

Download official documents filed with the Ministry of Corporate Affairs - from incorporation papers to the latest annual filings.

Incorporation documents, MoA & AoA
Annual returns (MGT-7) & financial statements (AOC-4)
Charge filings (CHG-1, CHG-4) & resolutions
Complete document index with filing dates

Recent Activity on Bharat Heavy Electricals Limited

Charges
26 Nov 2025
A charge with State Bank Of India of Rs. 70,500.00 Cr registered on 08 Jun 1993 with Charge ID 80025169 was modified on 26 Nov 2025.
Charges
26 Nov 2025
A charge with State Bank Of India of Rs. 9,500.00 Cr registered on 08 Jun 1993 with Charge ID 90041091 was modified on 26 Nov 2025.
Activity
19 Aug 2025
Bharat Heavy Electricals Limited last Annual general meeting of members was held on 19 Aug 2025 as per latest MCA records.
Directors
30 Apr 2025
Serugulathur Mahadevan Ramanathan was appointed as a Whole-time director on 30 Apr 2025 & has been associated with this company since 1 year 2 months.
Activity
31 Mar 2025
Bharat Heavy Electricals Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Delhi.
Directors
29 Mar 2025
Ashok Kumar Aseri was appointed as a Director on 29 Mar 2025 & has been associated with this company since 1 year 3 months.

Frequently Asked Questions about Bharat Heavy Electricals Limited

Bharat Heavy Electricals Limited is an active public limited union government company in the energy and power sector based in New Delhi, Delhi, India. It was incorporated on 13 November 1964 (62+ years old) and is registered under CIN L74899DL1964GOI004281. Listed on BSE: 500103 and NSE: BHEL. The company has 19,632 employees.

Bharat Heavy Electricals Limited reported revenue of ₹28,805 Cr for FY 2025 (up 18.00% YoY).

The primary industry of Bharat Heavy Electricals Limited is energy and power. The company specifically operates in power equipment manufacturers. The company is currently active in this sector.

Yes. Bharat Heavy Electricals Limited is listed on both BSE (code: 500103) and NSE (symbol: BHEL).

Bharat Heavy Electricals Limited can be reached at the registered office: Bhel House Siri Fort, New Delhi, Delhi, India – 110049, or through the website bhel.com.

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