BHEL Q4 Results: Profit More Than Doubles To ₹1,283 Crore; Stock Up 11%, Hits Upper Circuit

For the March quarter, state-owned Bharat Heavy Electricals Ltd (BHEL) reported sharp growth in both revenue and profitability, with the Street's response coming in just as swiftly. On 4 May 2026, BHEL shares surged by over 11% to hit the day's high of ₹399 on the National Stock Exchange (NSE). However, at 2:20 pm, the shares were trading at ₹382.50.

The rally extended its strong 12-month run, with the stock being up over 70% in the period, against a 0.9% decline in the Nifty 50. For Q4 FY26, the company's revenue from operations came in at ₹12,310.37 crore, up 36.9% year-on-year (YoY) from ₹8,993.37 crore.

Other Key Q4 FY26 Numbers

• Profit after tax (PAT) stood at ₹1,282.68 crore, surging 154.47% YoY from ₹504.05 crore.

• Total expenses came in at ₹10,842.69 crore, up 28.3% from ₹8,448.14 crore in Q4 FY25, indicating that revenue growth meaningfully outpaced cost growth during the quarter.

• Earnings before interest, taxes, depreciation and amortisation (EBITDA) more than doubled to ₹1,754 crore, against ₹832 crore in the corresponding quarter last year.

• EBITDA margin expanded sharply to 14.2% from 9.2% in Q4 FY25, a 500-basis-point widening that reflects improving project execution and better operating leverage.

• Other income also moved higher to ₹252 crore from ₹159 crore a year ago, adding to the bottom line cushion.

For the full FY26, the company reported a PAT of ₹1,600.26 crore, up 200% from ₹533.9 crore in FY25, marking a significant turnaround year on the earnings front. With a market capitalisation of around ₹1.34 lakh crore, the stock currently trades at a price-to-earnings multiple of about 146.

Also Read - Auto Stocks Rally 5% In Early Trade As April Sales Kick Off FY27 On Strong Note

Dividend Declaration

The board recommended a final dividend of ₹1.40 per equity share of face value ₹2 for FY26, equivalent to a 70% payout on face value. The dividend, if approved at the upcoming Annual General Meeting (AGM), will be paid within 30 days of the date.

Sources:

News 18

Moneycontrol

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