BHEL Q4 profit more than doubles; margins expand sharply
Bharat Heavy Electricals Limited (BHEL) reported a strong financial performance for the quarter and fiscal year ended March 31, 2026, with standalone net profit more than doubling year-on-year. The Board of Directors also recommended a final dividend for FY 2025-26.
For Q4, BHEL posted a standalone net profit of Rs 1,282.68 crore, up from Rs 504.05 crore in the same period last year. Total income rose to Rs 12,562.49 crore from Rs 9,152.16 crore. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased to Rs 1,754 crore from Rs 832 crore, while EBITDA margin expanded to 14.2% from 9.2%.
The power segment drove the quarterly performance. Revenue from the segment rose 53% year-on-year to Rs 9,509.85 crore from Rs 6,192.41 crore. Margins in the power business increased to 20% from 5% a year earlier. Revenue from the industry segment remained largely unchanged at Rs 2,800.52 crore, while margins in this segment declined to 24% from 31%.
Total expenses for the quarter stood at Rs 10,842.69 crore. Basic and diluted earnings per share were Rs 3.68, compared to Rs 1.45 in Q4 FY25.
For the full year, audited standalone revenue from operations increased to Rs 33,782.18 crore from Rs 28,339.48 crore in FY25. Net profit rose to Rs 1,577.95 crore from Rs 512.97 crore. The total outstanding order book reached an all-time high of about Rs 2,40,000 crore as of March 31, 2026.
The Board, in its meeting on May 4, 2026, recommended a final dividend of Rs 1.40 per equity share of Rs 2 face value (70%) for FY 2025-26. Subject to shareholder approval at the Annual General Meeting (AGM), the dividend will be paid within 30 days.
