NSE: BHEL | BSE: 500103

Mid-range Performer

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260.10 -1.85 (-0.71%)

47.78% Gain from 52W Low

2.8M NSE+BSE Volume

NSE 26 Feb, 2026 12:02 PM (IST)

90,568.5

Market Cap

High in industry

Beta 1Year

Very High Volatility

Bharat Heavy Electricals Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for BHEL, BSE:500103 Bharat Heavy Electricals Ltd.

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Bharat Heavy Electricals Ltd.

20 Jan 2026

260.10

-0.71%

Bharat Heavy Electricals Ltd.

Buy: Bharat Heavy Electricals Ltd.

Target

ICICI Direct

The stock is well placed to gain from the need for building base load thermal coupled with strong revenue visibility in the medium term. Q3FY26 performance: BHEL reported a healthy Q3 FY26 performance, with revenue rising 16.4% YoY to 8,473 crore, driven by growth across both segments. EBITDA increased 79% YoY to 545 crore, with margins expanding by 225 bps YoY to 6.4%, supported by a favorable industrial mix and operating leverage. PAT surged 207% YoY to 382.5 crore, leading to a 280 bps YoY improvement in net profit margin to 4.5%. Segment-wise, Power segment revenue stood at 6,322 crore (+13% YoY),...

Bharat Heavy Electricals has gained 33.65% in the last 1 Year

Bharat Heavy Electricals Ltd.

08 Dec 2025

260.10

-0.71%

The fundamentals are improving…

Buy: Bharat Heavy Electricals Ltd.

Target

ICICI Securities Limited

BHEL has accumulated a strong orderbook in last three years but execution has been slow. Order inflow (OI) in FY24/25 was INR 780bn/ INR 920bn (vs. average OI of INR 210bn between FY19-23), respectively.

Bharat Heavy Electricals has gained 20.13% in the last 6 Months

Bharat Heavy Electricals Ltd.

18 Nov 2025

260.10

-0.71%

BHEL

Buy: Bharat Heavy Electricals Ltd.

Recommendation Target

Geojit BNP Paribas

*over or under performance to benchmark index Bharat Heavy Electricals Ltd (BHEL), a public sector entity, is India's largest engineering company. It supplies power plant equipment such as gas turbines, generators, thermal sets, diesel shunters, turbo sets, hydro sets, power transformers, switchgears, circuit breakers and boilers. It also manufactures compressors, valves, rectifiers, pumps, capacitors and oil rigs, and undertakes castings and forgings. BHEL's Q2FY26 revenue increased 14.1% YoY to Rs. 7,512cr, driven by an 18.0%...

Bharat Heavy Electri.. has an average target of 323.00 from 4 brokers.

Bharat Heavy Electricals Ltd.

30 Oct 2025

260.10

-0.71%

BHEL (BHEL IN) Q2FY26 Result Update Healthy Q2...

Hold: Bharat Heavy Electricals Ltd.

Target

Prabhudas Lilladhar

Bharat Heavy Electri.. has an average target of 323.00 from 4 brokers.

Bharat Heavy Electricals Ltd.

30 Oct 2025

260.10

-0.71%

Bharat Heavy Electricals Ltd.

Buy: Bharat Heavy Electricals Ltd.

ICICI Direct

The stock is well placed to gain from the need for building base load thermal coupled with strong revenue visibility in the medium term. Q2FY26 performance: BHEL reported strong Q2FY26 results, turning profitable. Revenues grew 14% YoY to 7511 crore. With a drop in Employee benefits and other expenses by 260 and 310 bps YoY, EBITDA more than doubled to 580 crore vs 275 crore last year. With operational performance and rise in other income, PAT grew 3.5x YoY to 368 crore vs 106 crore last year. On a segmental basis Power (76% revenue mix) and Industry (24%) business revenues grew +13% and +18% YoY to...

Bharat Heavy Electricals has gained 33.65% in the last 1 Year

Bharat Heavy Electricals Ltd.

29 Aug 2025

260.10

-0.71%

BHEL

Hold: Bharat Heavy Electricals Ltd.

Target

Geojit BNP Paribas

Bharat Heavy Electricals Ltd (BHEL), a public sector entity, is India's largest engineering company. It supplies power plant equipment such as gas turbines, generators, thermal sets, diesel shunters, turbo sets, hydro sets, power transformers, switchgears, circuit breakers and boilers. The company also builds compressors, valves, rectifiers, pumps, capacitors, oil rigs, etc., and undertakes castings and forgings....

Bharat Heavy Electricals Ltd. is trading below its 30 day SMA of 260.6

Bharat Heavy Electricals Ltd.

07 Aug 2025

260.10

-0.71%

BHEL (BHEL IN) Q1FY26 Result Update Dismal Q1;...

Hold: Bharat Heavy Electricals Ltd.

Target

Prabhudas Lilladhar

We revise our FY26/27E EPS estimate by -30.8%/-9.5% factoring in weaker pace of execution and higher other expenses. BHEL reported a dismal quarter with a flattish revenue of Rs54.9bn and an EBITDA level loss of Rs5.4bn due to sharp increase in other expenses. Continued execution challenges in the Power continue to drive robust order inflows, including ~14.6 GW of thermal orders won in FY25 and a Rs65bn equipment order won from Adani Power during the quarter. BHEL's active diversification into transmission, transportation, defense, and Oil & Gas is yielding results with award of the prestigious 6 GW...

Bharat Heavy Electricals has gained 33.65% in the last 1 Year

Bharat Heavy Electricals Ltd.

20 May 2025

260.10

-0.71%

BHEL (BHEL IN) Q4FY25 Result Update Muted quarter;...

Hold: Bharat Heavy Electricals Ltd.

Target

Prabhudas Lilladhar

an 8.9% YoY revenue growth despite strong order book, accompanied by a 44bps improvement in EBITDA margin to 9.2%. The company continues to benefit from the government's strong emphasis on thermal capacity addition,...

Number of FII/FPI investors increased from 502 to 519 in Dec 2025 qtr.

Bharat Heavy Electricals Ltd.

18 May 2025

260.10

-0.71%

The poster child getting its due

Buy: Bharat Heavy Electricals Ltd.

Target

ICICI Securities Limited

BHEL is the poster child of the Indian thermal power industry. India has recognised the need for building new base load plants despite energy transition.