BHEL Q2 FY26 Earnings Results

Bharat Heavy Electricals Ltd, an integrated power plant equipment manufacturer owned by the Government of India, reported a significant turnaround in Q2 FY26.

Financial Results:

• Revenue increased 14.09% year on year to ₹7,512 crore from ₹6,584 crore.
• Total expenses grew 9.6% to ₹7,201 crore from ₹6,570 crore.
• Consolidated net profit soared 253.77% to ₹375 crore from ₹106 crore.
• Earnings per share (EPS) rose 260% to ₹1.08 from ₹0.30.

Business Highlights:

• EBITDA nearly doubled to ₹580 crore reflecting better project execution and cost control.
• Power segment revenue increased 12.9% to ₹5,676 crore with EBIT margin expanding 380 basis points to 10.5%.
• Industry segment revenue grew 18% to ₹1,836 crore with EBIT margin expanding 130 basis points to 15.3%.
• Order book stands strong at ₹2.2 lakh crore, providing strong revenue visibility.
• The company commissioned major projects, including Yadadri TPS and Khurja STPP, boosting capacity and revenues.

Outlook:

BHEL is poised for sustained growth backed by a healthy order book, improved execution capabilities, and favorable government initiatives like the National Infrastructure Pipeline and Make in India. The company expects margin improvements to continue as legacy low-margin projects close.

This outstanding profit growth signals a strong operational recovery and positions BHEL as a key beneficiary of India’s infrastructure expansion.

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