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Bharat Heavy Electricals Ltd.
BHELLarge CapNSEBSE
Industrials · Capital Goods
₹428.30down 5.65down 1.30 percentas of 28 Aug 2026
Book value ₹74.62Div yield 0.33%
Key metrics
- Market Cap
- 1,51,121.55 ₹ cr
- P/E
- 93.75 x
- P/B
- 5.74 x
- ROE
- 6.06%
- ROCE
- 6.45%
- Debt to Equity
- 0.46 x
- Net Margin
- 8.48%
- Dividend Yield
- 0.33%
- Revenue Growth (YoY)
- 40.29%
Observations
Mechanical observations generated from stored data, not analysis or opinion. Each one names the threshold that produced it — the ROCE check below uses 20%, a fixed default rather than a value tailored to this company.
- ROCE below 20% in each of the last 3 financial years (2023-2024, 2024-2025, 2025-2026).
- Revenue grew year-on-year in each of the last 3 years.
- Net margin declined year-on-year in 1 of the last 3 years.
- Promoter holding 58.2% (pledge data not available).
- Debt-to-equity 0.46 — above the Capital Goods median of 0.31.
BHEL
₹428.30down 1.30 percent
EOD Synced: 28 Aug 2026 18:30 ISTOverview & Live Price Chart
Executive Investment Verdict & Quality Synthesis
Autonomous V2Multi-dimensional quantitative synthesis across capital efficiency, forensic accounting, intrinsic valuation, and ownership governance.
Factual Quantitative Consensus
1. Capital Efficiency & MoatCapital Intensive
3.64%ROCE
ROE: 6.12%·P/B: 5.74x
2. Forensic Health & SolvencyPiotroski 9/9 · Strong Health
9/9Piotroski Score
Altman: 3.5 (Safe Zone)
3. Valuation & DCF Spread-50.1% Valuation Premium
₹214DCF Fair Value
CMP: ₹428.3
4. Ownership & GovernanceClean Promoter Holding
58.17%Promoter Stake
Pledged: 0.0%·Inst: 20.92%
Institutional Factor Scores
QVGM Factor Grade Matrix
Institutional Multi-Factor Profile (QVGM)
Composite 0–100 percentile ranks normalized across all 500 universe constituents
Rank #54 of 86 in IndustrialsQVGM 48/100
Quality (Q)31
ROE, ROCE, Margins & Cash Conversion
Value (V)23
P/E, P/B, EV/EBITDA vs Sector Benchmarks
Growth (G)65
3Y Sales & EPS Compounded Growth
Momentum (M)85
Relative Strength & Trend Position
TheScreener Radar™ 5-Pillar Quantitative Scorecard
Holistic quantitative radar evaluating fundamental quality, valuation multiples, balance sheet health, growth, and price momentum
Sector Rank:Rank #54 of 86 in Industrials
Valuation
Weak23/100
P/E Ratio:93.75x
P/B Ratio:5.74x
Dividend Yield:0.33%
P/E, P/B, EV/EBITDA & Dividend Yield relative to 5Y medians and sector
Growth
Moderate65/100
3Y Sales CAGR:—
3Y PAT CAGR:—
Quarterly YoY:+12.4%
3-Year Compounded Sales & Net Profit Growth trajectory
Profitability
Weak31/100
ROE:6.1%
ROCE:3.6%
OPM %:—
Return on Equity (ROE), ROCE & Operating Margin efficiency
Solvency & Health
Strong100/100
Piotroski F-Score:9/9
Altman Z-Score:3.45
Debt / Equity:0.00
Balance Sheet strength, Altman Z-Score & Piotroski F-Score checklist
Momentum
Strong85/100
1Y Return:—
RSI (14):54.2
From 52W High:—
1-Year Relative Strength vs NIFTY 500, RSI-14 & 52W High distance
Quantitative Drivers & Growth Analysis
52-week corridor, deep valuation multiples, compounded CAGR trajectory, and institutional flow shifts
52-Week Low₹211.09
From 52W High-1.75%
52-Week High₹435.95
Valuation MultiplesCash Flow & Yield
PEG Ratio2.68
Earnings Yield19.11%
Price / FCF—
FCF Yield-4.51%
Payout Ratio1.71%
Net-Net Ratio-30.61
Solvency & SafetyPiotroski & Altman
Piotroski F-Score9/9
Altman Z-Score3.45
Graham Number₹370.70
1Y Flow & Margin ShiftsTrailing 12M
FII Stake:▲ +2.29%
DII Stake:▼ 1.48%
OPM Margin:▲ +1.75%
Net Margin:▲ +2.85%
Compounded Annual Growth Rate (CAGR Matrix)
Historical Fundamental Trajectory| Metric | QoQ Shift | YoY Shift | 1Y CAGR | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Revenue Growth | ▼ 37.47% | ▲ +40.29% | 19.21% | 13.08% | 14.31% |
| Net Profit Growth | ▼ 70.81% | — | 199.73% | 34.74% | — |
| EPS Growth | ▼ 70.81% | — | 202.65% | 34.94% | — |
Intrinsic Valuation Models & DCF Sensitivity
Institutional DCF & Intrinsic Valuation Studio — BHEL
2-Stage Discounted Cash Flow, Reverse DCF Implied Growth, and Benjamin Graham & Peter Lynch valuation benchmarks.
DCF Intrinsic Fair Value
₹219.2
Verdict:Overvalued (-48.8%)
Benjamin Graham Number
₹87.9
-79.5% vs CMPPeter Lynch Fair Value
₹22.9
-94.7% vs CMPReverse DCF Implied Growth
24.1% CAGR
Aggressive Expectations (Priced for Perfection)Valuation Spectrum PositioningCMP: ₹428.3
₹0 (Distress)CMP: ₹428DCF: ₹219Graham: ₹88
Scenario Calibration & Sensitivity Levers
Tune Discount Rate (WACC), 5-Year Growth, and Terminal Value to model bear, base, and bull cases.
Discount Rate (WACC)11.5%
Cost of Capital Hurdle
5-Year FCF Growth CAGR6.0%
Assumed stage-1 cash flow expansionTerminal Growth Rate4.5%
Long-term perpetual GDP growth rate5-Year Projected Cash Flow Schedule (₹ Cr)
| Projection Period | Growth Rate | Projected FCF | Discount Factor | Present Value |
|---|---|---|---|---|
| Year 1 | 6% | ₹5,563 | 0.8969 | ₹4,989 |
| Year 2 | 6% | ₹5,897 | 0.8044 | ₹4,743 |
| Year 3 | 6% | ₹6,251 | 0.7214 | ₹4,509 |
| Year 4 | 6% | ₹6,626 | 0.6470 | ₹4,287 |
| Year 5 | 6% | ₹7,023 | 0.5803 | ₹4,075 |
2D Sensitivity Matrix (WACC vs Terminal Growth Rate)
Click any cell to apply WACC & terminal growth scenario. Values in ₹ / share.| WACC \ g(Terminal) | 3.0% | 4.0% | 4.5% | 5.0% | 6.0% |
|---|---|---|---|---|---|
| 10.0% | ₹231 -46% | ₹264 -38% | ₹285 -33% | ₹310 -28% | ₹379 -12% |
| 11.0% | ₹199 -53% | ₹223 -48% | ₹238 -44% | ₹255 -40% | ₹299 -30% |
| 11.5% | ₹186 -56% | ₹207 -52% | ₹219 -49% | ₹234 -45% | ₹270 -37% |
| 12.0% | ₹175 -59% | ₹192 -55% | ₹203 -53% | ₹215 -50% | ₹246 -43% |
| 13.0% | ₹155 -64% | ₹169 -61% | ₹177 -59% | ₹186 -57% | ₹208 -51% |
Discounted cash flow (DCF) and valuation models are quantitative projections based on user-supplied assumptions — not a forecast, not a guarantee of future performance, and not SEBI-registered investment advice. Actual financial performance and stock price movements may differ materially.
New to intrinsic valuation models? Learn how Discounted Cash Flow and Terminal Growth rates work.Read DCF Academy Guide →
Valuation history
P/E93.75current
ReportedComputed, approximate
P/B5.74current
ReportedComputed, approximate
The dashed line is computed from historical close price divided by the most recently reported annual EPS or book value — not IndianAPI's own figure, which only ever gives a single current reading with no history behind it. Real results are typically disclosed several weeks after the fiscal year ends, so a computed point right around a year transition can lag what the market actually knew that day. The solid line is the real reported figure.
EV/EBITDA is not shown — there is no verified source for it in our data feed, and estimating it would misrepresent an estimate as a reported figure.
| Date | P/E | P/B |
|---|---|---|
| 31 Aug 2026 | 93.75 | 5.74 |
Analyst Consensus, Price Targets & Forecasts
Analyst Consensus & Recommendations
Aggregated institutional equity research ratings · 31 Aug 2026
Hold(3.05 / 5)
Strong Buy:4
Buy:5
Hold:1
Sell:6
Strong Sell:4
Coverage: 20 contributing analystsScale: 1 (Strong Buy) – 5 (Strong Sell)
Ratings shown are third-party analyst estimates compiled from institutional brokers. They do not constitute investment advice.
Risk Profile & Volatility
Statistical return volatility classification · 31 Aug 2026
Balanced risk
Low RiskModerate RiskHigh Risk
Annualised Standard Deviation:37.98%
Analyst Price Targets
12-month forward price consensus · 31 Aug 2026
Upside: -6.37%
Mean Target₹401.00vs CMP ₹428.30
High Target₹575.00+34.3% max upside
Low Target₹140.00-67.3% downside
Median Target₹470.0018 estimates
Low: ₹140.00Mean: ₹401.00High: ₹575.00
Mean Target Current Price (₹428.30)
Price targets are third-party analyst estimates compiled from institutional brokers. They do not constitute investment advice.
Forward Financial Forecasts & Consensus Estimates
Institutional broker consensus estimates and forward earnings trajectory
FY2024EConsensus
Mean Estimate
₹1.41
Low:—
High:—
FY2024EConsensus
Mean Estimate
₹-0.43
Low:—
High:—
FY2024EConsensus
Mean Estimate
₹-0.68
Low:—
High:—
FY2024EConsensus
Mean Estimate
₹-0.99
Low:—
High:—
FY2025E2 Analysts
Mean Estimate
₹1.45
Low:—
High:—
FY2025E2 Analysts
Mean Estimate
₹0.30
Low:—
High:—
FY2025E2 Analysts
Mean Estimate
₹0.39
Low:—
High:—
FY2025EConsensus
Mean Estimate
₹-0.61
Low:—
High:—
FY2026EConsensus
Mean Estimate
—
Low:—
High:—
FY2026E1 Analysts
Mean Estimate
₹1.08
Low:—
High:—
FY2026E1 Analysts
Mean Estimate
₹1.12
Low:—
High:—
FY2026E1 Analysts
Mean Estimate
₹-1.31
Low:—
High:—
FY2027E1 Analysts
Mean Estimate
₹1.13
Low:₹1.00
High:₹1.00
FY2027E2 Analysts
Mean Estimate
₹1.08
Low:—
High:—
FY2027E1 Analysts
Mean Estimate
₹4.05
Low:₹4.00
High:₹4.00
FY2027E1 Analysts
Mean Estimate
₹1.87
Low:₹1.00
High:₹1.00
FY2028E1 Analysts
Mean Estimate
₹5.49
Low:₹5.00
High:₹5.00
FY2028E1 Analysts
Mean Estimate
₹2.53
Low:₹2.00
High:₹2.00
FY2028E1 Analysts
Mean Estimate
₹1.35
Low:₹1.00
High:₹1.00
FY2028E1 Analysts
Mean Estimate
₹1.88
Low:₹1.00
High:₹1.00
| Period / Fiscal Year | Consensus Mean | Bull Case (High) | Bear Case (Low) | Brokers |
|---|---|---|---|---|
| FY2024 Forecast | ₹1.41 | — | — | — |
| FY2024 Forecast | ₹-0.43 | — | — | — |
| FY2024 Forecast | ₹-0.68 | — | — | — |
| FY2024 Forecast | ₹-0.99 | — | — | — |
| FY2025 Forecast | ₹1.45 | — | — | 2 |
| FY2025 Forecast | ₹0.30 | — | — | 2 |
| FY2025 Forecast | ₹0.39 | — | — | 2 |
| FY2025 Forecast | ₹-0.61 | — | — | — |
| FY2026 Forecast | — | — | — | — |
| FY2026 Forecast | ₹1.08 | — | — | 1 |
| FY2026 Forecast | ₹1.12 | — | — | 1 |
| FY2026 Forecast | ₹-1.31 | — | — | 1 |
| FY2027 Forecast | ₹1.13 | ₹1.00 | ₹1.00 | 1 |
| FY2027 Forecast | ₹1.08 | — | — | 2 |
| FY2027 Forecast | ₹4.05 | ₹4.00 | ₹4.00 | 1 |
| FY2027 Forecast | ₹1.87 | ₹1.00 | ₹1.00 | 1 |
| FY2028 Forecast | ₹5.49 | ₹5.00 | ₹5.00 | 1 |
| FY2028 Forecast | ₹2.53 | ₹2.00 | ₹2.00 | 1 |
| FY2028 Forecast | ₹1.35 | ₹1.00 | ₹1.00 | 1 |
| FY2028 Forecast | ₹1.88 | ₹1.00 | ₹1.00 | 1 |
Third-party broker forecasts compiled from institutional research houses, not IndiScreener's proprietary estimates. Provided strictly for analytical benchmarking and does not constitute investment advice.
Forensic Accounting Audit & Solvency Risk
Accounting Health & Governance Quality Radar
Algorithmic accounting analysis across balance sheet solvency, cash conversion efficiency, and ownership stability.
Clean Governance & Solvency
Financial Strengths & Catalysts
4 Factors- •Company maintains conservative leverage with D/E of 0.31x.
- •Net profit has grown at an impressive 34.7% CAGR over 3 years.
- •Strong cash generation: Operating Cash Flow is 364.8% of reported Net Profit.
- •High promoter holding of 58.2% with zero encumbrance / pledge.
Risk Factors & Watchouts
2 Watchouts- •Return on Equity (ROE) is currently modest at 6.1%.
- •Stock is trading at an elevated valuation multiple of 93.8x P/E.
Forensic Accounting & Health Audit
Piotroski F-Score, Altman Z-Score Distress Model & Beneish Earnings Manipulation Checks
Piotroski F-Score9 / 9
● Strong (High Quality)
Altman Z-Score3.45
● Safe Zone
Negligible risk of financial distress over the next 2 years.
Beneish M-Score-3.05
● Low Risk (Clean Accounting)
Cash flows closely match reported earnings with conservative accruals.
Learn how Piotroski F-Score (9 criteria) and Altman Z-Score detect earnings manipulation and bankruptcy risk.Read Forensic Guide →
10-Year Financial Statements & DuPont ROE
Financial Statements
consolidated · amounts in ₹ Crores
Accounting Flow:
Wall Street Cash Flow & Free Cash Flow (FCF) Cascade
FY26 (2025-2026)3-Stage institutional flow from reported earnings to owner Free Cash Flow and capital allocation
FCF Conversion Rate (FCF / PAT)
328.0%Elite Cash Quality (>100%)
Measures how much reported accounting profit turns into real liquid cash.
Free Cash Flow Margin
15.5%of Gross Revenue
Liquid cash retained per ₹100 of top-line revenue generated.
CapEx Reinvestment Rate
10.1%of Operating Cash
Portion of operating cash reinvested in future capacity and maintenance.
Reported Net Profit (PAT)₹1,600 CrInflow
1,600
+ D&A Non-Cash Charge₹316 CrAdd-back
316
Working Capital Adjustment₹3,921 Cr+ Cash
3,921
= Operating Cash Flow (CFO)₹5,837 CrOperating Cash
5,837
- Capital Expenditures (CapEx)-₹589 CrReinvestment
589
= Free Cash Flow (FCF)₹5,248 CrFree Cash Flow
5,248
- Dividends & Debt Repayment-₹352 CrCapital Return
352
= Net Change in Cash₹4,896 CrNet Balance
4,896
Multi-Year Historical FCF vs Reported PAT Trajectory:
Free Cash Flow (FCF) Reported Net Profit (PAT)
| Metric | 2018-201931 Mar 2019 | 2019-202031 Mar 2020 | 2020-202131 Mar 2021 | 2021-202231 Mar 2022 | 2022-202331 Mar 2023 | 2023-202431 Mar 2024 | 2024-202531 Mar 2025 | 2025-202631 Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹30,441.38 | ₹21,463.14 | ₹17,308.69 | ₹21,211.09 | ₹23,364.94 | ₹23,892.78 | ₹28,339.48 | ₹33,782.18 |
| Operating profit | ₹1,585.65 | ₹-1,175.37 | ₹-3,680.37 | ₹340.13 | ₹232.62 | ₹260.44 | ₹843.22 | ₹1,595.79 |
| OPM | 5.21% | -5.48% | -21.26% | 1.60% | 1.00% | 1.09% | 2.98% | 4.72% |
| Net profit | ₹1,005.10 | ₹-1,466.01 | ₹-2,697.11 | ₹446.03 | ₹654.12 | ₹282.22 | ₹533.90 | ₹1,600.26 |
| EPS | 2.77 | -4.23 | -7.74 | 1.28 | 1.86 | 0.79 | 1.51 | 4.57 |
| Net margin | 3.30% | -6.83% | -15.58% | 2.10% | 2.80% | 1.18% | 1.88% | 4.74% |
| ROE | 3.25% | -5.12% | -10.38% | 1.68% | 2.68% | 1.15% | 2.16% | 6.12% |
| ROCE | 3.88% | -3.16% | -10.55% | 0.98% | 0.70% | 0.77% | 2.12% | 3.64% |
| Debt / equity | 0.08 | 0.18 | 0.19 | 0.18 | 0.22 | 0.36 | 0.36 | 0.31 |
Compounded growth (CAGR)
| Metric | 1Y | 3Y | 5Y |
|---|---|---|---|
| Revenue | 19.21% | 13.08% | 14.31% |
| Net profit | 199.73% | 34.74% | — |
| EPS | 202.65% | 34.94% | — |
Each column only appears when 8 real reported years actually support it — never extrapolated from fewer.
Balance sheet
| Metric | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|
| Total assets | ₹63,934.31 | ₹59,748.56 | ₹55,240.21 | ₹56,243.76 | ₹56,920.02 | ₹59,005.50 | ₹68,083.18 | ₹76,185.61 |
| Total liabilities | ₹33,029.98 | ₹31,087.84 | ₹29,256.55 | ₹29,737.16 | ₹32,541.76 | ₹34,566.85 | ₹43,361.02 | ₹50,039.01 |
| Total equity | ₹30,904.33 | ₹28,660.72 | ₹25,983.66 | ₹26,506.60 | ₹24,378.26 | ₹24,438.65 | ₹24,722.16 | ₹26,146.60 |
| Total debt | ₹2,598.47 | ₹5,079.96 | ₹4,950.89 | ₹4,829.93 | ₹5,453.51 | ₹8,856.46 | ₹9,014.60 | ₹8,186.95 |
| Cash | — | ₹1,402.57 | ₹1,527.19 | ₹732.62 | ₹1,449.11 | ₹1,718.86 | ₹191.32 | ₹1,083.20 |
| Current assets | ₹38,380.91 | ₹32,711.18 | ₹28,343.35 | ₹27,861.98 | ₹29,094.50 | ₹34,545.69 | ₹42,759.77 | ₹51,455.35 |
| Current liabilities | ₹23,055.19 | ₹22,608.48 | ₹20,359.90 | ₹21,371.15 | ₹23,479.55 | ₹25,332.80 | ₹28,225.59 | ₹32,302.18 |
| Inventory | ₹7,800.04 | ₹8,908.23 | ₹7,194.45 | ₹6,652.32 | ₹6,894.24 | ₹7,286.04 | ₹9,968.73 | ₹13,703.68 |
| Receivables | ₹11,992.05 | ₹7,207.92 | ₹4,112.13 | ₹11,815.08 | ₹13,149.57 | ₹18,360.05 | ₹21,803.90 | ₹22,141.66 |
| Payables | ₹11,380.98 | ₹8,829.16 | ₹6,683.51 | ₹7,749.59 | ₹9,895.83 | ₹8,696.24 | ₹9,540.92 | ₹10,491.60 |
| Net PP&E | ₹3,110.60 | ₹3,045.25 | ₹2,832.19 | ₹2,758.66 | ₹2,753.33 | ₹2,793.01 | ₹3,024.16 | ₹3,332.48 |
| Retained earnings | ₹30,349.09 | ₹28,379.34 | ₹25,682.23 | ₹26,128.27 | ₹24,016.61 | ₹24,159.56 | ₹24,606.40 | ₹26,031.45 |
Cash flow
| Metric | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | ₹-3,860.16 | ₹-2,891.50 | ₹561.61 | ₹667.53 | ₹-740.70 | ₹-3,712.90 | ₹2,191.89 | ₹5,837.38 |
| Capital expenditure | ₹-426.11 | ₹-394.01 | ₹-250.35 | ₹-169.38 | ₹-188.40 | ₹-232.50 | ₹-281.54 | ₹-589.04 |
| Free cash flow | ₹-4,286.27 | ₹-3,285.51 | ₹311.26 | ₹498.15 | ₹-929.10 | ₹-3,945.40 | ₹1,910.35 | ₹5,248.34 |
| OCF / net profit | -3.84 | 1.97 | -0.21 | 1.50 | -1.13 | -13.16 | 4.11 | 3.65 |
| FCF / Capex intensity | 1.40 | 1.84 | 1.45 | 0.80 | 0.81 | 0.97 | 0.99 | 1.74 |
Income statement detail
| Metric | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|
| Gross profit | ₹11,156.60 | ₹6,619.34 | ₹4,815.97 | ₹5,713.24 | ₹6,278.03 | ₹6,310.43 | ₹8,657.24 | ₹9,916.59 |
| Cost of revenue | ₹19,284.78 | ₹14,843.80 | ₹12,492.72 | ₹15,497.85 | ₹17,086.91 | ₹17,582.35 | ₹19,682.24 | ₹23,865.59 |
| EBITDA | ₹2,061.39 | ₹-672.10 | ₹-3,207.12 | ₹654.25 | ₹492.96 | ₹509.34 | ₹1,115.18 | ₹1,911.63 |
| Income before tax | ₹1,839.74 | ₹-659.07 | ₹-3,595.93 | ₹470.46 | ₹715.61 | ₹242.66 | ₹745.60 | ₹2,138.61 |
| Interest expense | — | — | — | — | — | — | ₹75.96 | — |
| Tax expense | ₹837.32 | ₹809.28 | ₹-896.23 | ₹25.75 | ₹61.49 | ₹-39.56 | ₹211.70 | ₹538.35 |
| D&A | ₹475.74 | ₹503.27 | ₹473.25 | ₹314.12 | ₹260.34 | ₹248.90 | ₹271.96 | ₹315.84 |
| EBITDA margin | 6.77% | -3.13% | -18.53% | 3.08% | 2.11% | 2.13% | 3.94% | 5.66% |
Financial ratios
| Metric | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|
| Current ratio | 1.66 | 1.45 | 1.39 | 1.30 | 1.24 | 1.36 | 1.51 | 1.59 |
| Quick ratio | 1.33 | 1.05 | 1.04 | 0.99 | 0.95 | 1.08 | 1.16 | 1.17 |
| Interest coverage | — | — | — | — | — | — | 11.10 | — |
| Inventory days | 147.63 | 219.05 | 210.20 | 156.67 | 147.27 | 151.25 | 184.87 | 209.58 |
| Receivable days | 143.79 | 122.58 | 86.72 | 203.31 | 205.42 | 280.48 | 280.82 | 239.23 |
| Payable days | 215.41 | 217.10 | 195.27 | 182.52 | 211.39 | 180.53 | 176.93 | 160.46 |
| Cash conversion cycle | 76.01 | 124.52 | 101.64 | 177.47 | 141.30 | 251.20 | 288.76 | 288.36 |
| Working capital days | 30.00 | 30.00 | 30.00 | 30.00 | 30.00 | 30.00 | 30.00 | 30.00 |
| Fixed asset turnover | 9.79 | 7.05 | 6.11 | 7.69 | 8.49 | 8.55 | 9.37 | 10.14 |
| ROA | 1.57% | -2.45% | -4.88% | 0.79% | 1.15% | 0.48% | 0.78% | 2.10% |
| ROIC | — | -8.10% | -9.40% | 1.05% | 0.75% | 0.96% | 1.80% | 3.59% |
| Gross margin | 36.65% | 30.84% | 27.82% | 26.94% | 26.87% | 26.41% | 30.55% | 29.35% |
DuPont 3-Stage ROE Factor Decomposition
Deconstructing Return on Equity into Profitability, Asset Efficiency, and Financial Leverage
Balanced Return EngineFY2025-2026
Net marginProfitability
4.74%
Net Profit generated per ₹100 of revenue (Profitability)
×
Asset turnoverEfficiency
0.44
Revenue generated per ₹1 of total assets (Capital Efficiency)
×
Equity multiplierLeverage
2.91
Total assets supported per ₹1 of shareholder equity (Leverage)
=
Implied DuPont ROEFinal Output
6.12%
Reported: 6.12%
Explore the 3-Stage DuPont Formula: Net Margin × Asset Turnover × Leverage Multiplier.Read DuPont Guide →
Corporate Actions, Dividends & Capital Changes
Chronological Corporate Actions Registry
Historical stock splits, bonus shares, rights issues, and corporate schemes
| Year | Execution Date | Action Type | Ratio / Term |
|---|---|---|---|
| 2026 | 17 Jul 2026 | dividend | 70% |
| 2025 | 01 Aug 2025 | dividend | 25% |
| 2024 | 09 Aug 2024 | dividend | 12% |
| 2023 | 11 Aug 2023 | dividend | 20% |
| 2022 | 16 Sept 2022 | dividend | 20% |
| 2019 | 13 Sept 2019 | dividend | 60% |
| 13 Sept 2019 | dividend | 60% | |
| 13 Feb 2019 | dividend | 40% | |
| 2018 | 13 Sept 2018 | dividend | 51% |
| 13 Sept 2018 | dividend | 51% | |
| 17 Feb 2018 | dividend | 40% | |
| 2017 | 30 Sept 2017 | bonus | 1:2 |
| 26 Aug 2017 | dividend | 39% | |
| 15 Feb 2017 | dividend | 40% | |
| 2016 | 16 Sept 2016 | dividend | 20% |
| 2015 | 16 Sept 2015 | dividend | 31% |
| 18 Feb 2015 | dividend | 27% | |
| 2014 | 10 Sept 2014 | dividend | 76% |
| 10 Feb 2014 | dividend | 65% | |
| 2013 | 11 Sept 2013 | dividend | 164% |
| 06 Feb 2013 | dividend | 106% | |
| 2012 | 10 Sept 2012 | dividend | 184% |
| 07 Mar 2012 | dividend | 136% | |
| 2011 | 04 Oct 2011 | split | 2:10 |
| 12 Aug 2011 | dividend | 179% | |
| 21 Mar 2011 | dividend | 133% | |
| 2010 | 03 Sept 2010 | dividend | 123% |
| 10 Feb 2010 | dividend | 110% | |
| 2009 | 03 Sept 2009 | dividend | 80% |
| 18 Feb 2009 | dividend | 90% | |
| 2008 | 03 Sept 2008 | dividend | 63% |
| 14 Feb 2008 | dividend | 90% | |
| 2007 | 03 Sept 2007 | dividend | 60% |
| 01 Jun 2007 | bonus | 1:1 | |
| 14 Feb 2007 | dividend | 125% | |
| 2006 | 05 Sept 2006 | dividend | 20% |
| 23 Mar 2006 | dividend | 85% |
Dividend Intelligence & Capital Return History
Historical cash payout track record across 5 dividend distributions
Latest Year DPS:₹1.40
Yield on CMP:0.33%
3Y Dividend CAGR:+51.8%
Annual Dividend Payout Progression (Per Share)Total Cumulative DPS: ₹2.95
₹1.4
2026
₹0.5
2025
₹0.3
2024
₹0.4
2023
₹0.4
2022
| Ex-Date | Amount (Per Share) | Dividend Type |
|---|---|---|
| 17 Jul 2026 | ₹1.40 | Final |
| 01 Aug 2025 | ₹0.50 | Final |
| 09 Aug 2024 | ₹0.25 | Final |
| 11 Aug 2023 | ₹0.40 | Final |
| 15 Sept 2022 | ₹0.40 | Final |
Industry Peer Group & Valuation Spread
Compare valuation multiples and market cap relative to sector competitors
Capital GoodsCompare Peers in Studio
Market Cap1,51,121.55 ₹ cr
Beats 96% of 112 industry peers · median 16,628.39 ₹ cr
P/E93.75 x
Beats 79% of 101 industry peers · median 53.00 x
P/B5.74 x
Beats 40% of 103 industry peers · median 7.26 x
ROE6.06%
Beats 20% of 111 industry peers · median 12.73%
ROCE6.45%
Beats 14% of 111 industry peers · median 14.81%
Debt to Equity0.46 x
Beats 71% of 111 industry peers · median 0.31 x
Net Margin8.48%
Beats 46% of 111 industry peers · median 8.85%
Dividend Yield0.33%
Beats 37% of 86 industry peers · median 0.44%
Revenue Growth (YoY)40.29%
Beats 77% of 110 industry peers · median 21.65%
| Company | Market Cap ▼ | P/E | P/B |
|---|---|---|---|
| ₹3.22 L | 35.66 | 7.92 | |
| ₹3.03 L | 49.69 | 12.55 | |
Tata Motors Ltd.TMCV | ₹1.73 L | 56.69 | 13.48 |
| ₹1.57 L | 95.32 | 20.31 | |
Hitachi Energy India Ltd.POWERINDIA | ₹1.49 L | 152.87 | 29.18 |
Peers are chosen strictly by industry classification. A classification doesn't always describe what a company actually competes in, but gives an objective starting point across the universe.
Regulatory Filings & Market Intelligence
Corporate Filings & Document Vault
SEBI LODR VerifiedAudited Annual Reports, Investor Decks, Earnings Concall Transcripts, and Board Resolutions for Bharat Heavy Electricals Ltd. (BHEL)
Indexed Documents7 Filings
Latest Disclosure18 Jul 2026
AGM / EGM18 Jul 2026
Bharat Heavy Electricals Ltd: Notice of Annual General Meeting and Record Date for Dividend
Investor Deck07 Jul 2026
Bharat Heavy Electricals Ltd: Investor Presentation on Q4 Financial Results and Growth Outlook
Corporate Action09 Jun 2026
Bharat Heavy Electricals Ltd: Recommendation of Final Dividend for the Financial Year 2025-26
Board Outcome31 May 2026
Bharat Heavy Electricals Ltd: Outcome of Board Meeting for Approval of Audited Financial Results
Concall Transcript28 May 2026
Bharat Heavy Electricals Ltd: Transcript of Earnings Conference Call with Institutional Investors
Secretarial Filing18 Mar 2026
Bharat Heavy Electricals Ltd: Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015
News
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The Indian stock market is set to open flat, following weak global trends. Major indices Nifty 50 and Sensex ended lower, with Nifty closing below 24,100. Analyst Chandan Taparia suggests cautious trading within defined ranges and recommends buying Sona BLW, Laurus Labs, and BHEL shares.
- IndianAPIBreakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today —28 August 2026
Breakout stocks to buy or sell: Sumeet Bagadia recommends five breakout stocks to buy today —Wonderla Holidays, Orkla India, Bharat Heavy Electricals, Adani Power, and Global Health.
- IndianAPICoal India plans ₹1 trillion investment in coal evacuation, gasification
Coal India is targeting 1 billion tonnes of annual output by FY30, while absorbing higher costs but no immediate coal price hike, Chairman B. Sairam says.
- IndianAPIStock recommendations for 17 August from MarketSmith India
MarketSmith India reveals its top stock recommendations for today, 17 August. Get expert insights into the best-performing stocks to guide your investment decisions.
- IndianAPIStock market today: Gift Nifty hints a weak start; eight day trading stocks to buy on Thursday, 13 August
The Indian stock market is expected to open lower on August 13 due to mixed global cues and concerns over high crude oil prices. The Nifty 50 finished below 24,500, highlighting ongoing investor caution amid geopolitical tensions affecting oil supply and market sentiment.
- IndianAPIStock recommendations for 13 August from MarketSmith India
MarketSmith India reveals its top stock recommendations for today, 13 August. Get expert insights into the best-performing stocks to guide your investment decisions.
- IndianAPIStock market today: Gift Nifty hints a positive start; eight day trading stocks to buy on Monday, 27 July
Indian stock markets are expected to open higher on Monday, bolstered by positive global cues and declining crude oil prices, which improve investor sentiment. Gift Nifty trades at a premium, signaling a firm domestic start despite previous losses in Nifty 50.
- IndianAPIStock recommendations for 27 July from MarketSmith India
MarketSmith India reveals its top stock recommendations for today, 27 July. Get expert insights into the best-performing stocks to guide your investment decisions.
- IndianAPIStocks to buy for short term: BHEL, CDSL among 3 stocks Ajit Mishra of Religare Broking recommends for next 1-2 weeks
Ajit Mishra of Religare Broking recommends a stock-specific strategy, highlighting Bharat Heavy Electricals, Central Depository Services, and Divi's Laboratories as short-term buy candidates, with target prices and stop-loss levels.
- IndianAPIShares to buy or sell: Chandan Taparia of Motilal Oswal recommends three stocks to buy today - 17 July 2026
Shares to buy or sell: Chandan Taparia has recommended three stocks to buy today, 17 July 2026 - Sona BLW Precision Forgings, Bharat Heavy Electricals Ltd (BHEL) and Dixon Technologies (India) shares.
- IndianAPIStock market today: Gift Nifty hints a flat start; eight day trading stocks to buy on Friday, 17 July
The Indian stock market is set to open cautiously due to geopolitical tensions and weak global cues. The BSE Sensex closed slightly up, while the Nifty 50 saw a minor decline. Elevated crude prices and FPI selling reflect uncertainty among investors amid ongoing conflicts in the Middle East.
- IndianAPIQ1 results 2026: Wipro to Jio Financial among companies to declare Q1 results today; full list here
Q1 results 2026: Wipro, Jio Financial Services, Tech Mahindra, Bharat Heavy Electricals (BHEL), ITC Hotels, Piramal Finance are among the companies to declare their Q1 results FY27 today.
- IndianAPIQ1 results 2026: HCL Tech, Wipro to Jio Financial among companies to declare Q1 results next week; check full list here
Q1 results 2026: HCL Technologies, Wipro, Jio Financial Services, Billionbrains Garage Ventures, HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, Yes Bank, J. K. Cement, Bharat Heavy Electricals (BHEL) are among the marquee companies to declare their Q1 results 2026 next week.
- IndianAPIAmfi reshuffle signals market leadership shift as BSE enters large-cap club
Capital markets, power equipment and telecom infrastructure companies have gained ground in the latest market-cap classification, while several pharma, healthcare and auto names slipped to the mid-cap category.
For informational and educational purposes only. Not investment advice. Data may be delayed or incomplete. Consult a SEBI-registered investment adviser before making investment decisions.