NSE: BHEL | BSE: 500103

Mid-range Performer

Download real time

211.49 3.48 (1.67%)

27.57% Fall from 52W High

3.6M NSE+BSE Volume

NSE 01 Sep, 2025 12:23 PM (IST)

73,642.2

Market Cap

High in industry

1.7

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.

Bharat Heavy Electricals Ltd.

09 Nov 2017

211.49

1.67%

Result Review of BHEL

Hold: Bharat Heavy Electricals Ltd.

IDBI Capital

With slow-moving coming back on fast track, FY19 could be the year of provision write-backs and stronger revenue recognition. We raise our FY19 Revenue/EBITDA by 3%/2%. With a revised TP of Rs94 (earlier TP of 87), we maintain HOLD. Pipeline beyond L1 looks weak: Indeed, the focus shifts on the progress towards: (1) 3x800 MW Pathrathu project of Rs120bn; (2) 1x6660 MW Panki project of Rs30bn; (3) 1x660 MW Bhusawal project of Rs30bn; and (4) 1x800 MW Udangudi project of Rs40bn; put together, Rs260bn of pipeline. Adding to that, BHEL identifies 33GW of FGD. The ordering pipeline in FY19 could be pegged at 8-10 GW. However, industry capacity...

Bharat Heavy Electricals Ltd. is trading below all available SMAs

Bharat Heavy Electricals Ltd.

08 Nov 2017

211.49

1.67%

Bharat Heavy Electricals Limited

Hold: Bharat Heavy Electricals Ltd.

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research Bhel reported disappointing Q2FY18 results. The key reason was the EBITDA level loss on account of higher-than-expected employee & other expenses. The company managed to post a PAT but that was on account of higher-than-expected other income Revenues came in at | 6402.9 crore, down 3.9% (I-Direct estimate of | 6335.3 crore). On the segmental front, power segment revenues came in at | 5064.7 crore, down 3.6% YoY whereas industrial...

Bharat Heavy Electricals Ltd. has lost -27.21% in the last 1 Year

Bharat Heavy Electricals Ltd.

07 Nov 2017

211.49

1.67%

Operating performance below expectations; maintain Sell

Sell: Bharat Heavy Electricals Ltd.

Motilal Oswal

executable orders available) and a delay in finalization of key orders like Yedadri (non-availability of EC), Panki and Bhusawal. BHEL recorded an operating loss of INR1.0b (est. of INR3.8b profit), as against a profit of INR1.5b in 2QFY17. PAT improved 5.9% YoY to INR1.2b, led by higher other income (INR4.9b v/s INR2.0b in 2QFY17; above est. of INR2.0b). Higher provisioning leads to loss at operating level: Despite a gross margin improvement of 370bp YoY to 39.3%, BHEL posted an operating loss of INR1.0b, led by higher provisioning on account of employee wage revision of...

Bharat Heavy Electri.. has an average target of 256.67 from 3 brokers.

Bharat Heavy Electricals Ltd.

30 Oct 2017

211.49

1.67%

Company Report:B H E L

Buy: Bharat Heavy Electricals Ltd.

Axis Direct

TG market to grow 3x: New emission norms for coal-fired plants are set to expand the power Boiler-Turbine-Generator (BTG) space three-fold. This entails increased market opportunity for new as well as retrofit equipment. In existing power plants, BHEL to be a key beneficiary given its lions marke..

Bharat Heavy Electricals Ltd. is trading below all available SMAs

Bharat Heavy Electricals Ltd.

17 Aug 2017

211.49

1.67%

Result Update - BHEL

Buy: Bharat Heavy Electricals Ltd.

Axis Direct

Q1FY18 revenue was down 2% YoY at Rs 55 bn missing our/consensus estimate of Rs 59/60 bn. On low capacity utilization and Q1 being a lean quarter, the revenue miss resulted in EBITDA loss of Rs 883 mn vs. our estimate of breakeven quarter.

Bharat Heavy Electri.. has an average target of 256.67 from 3 brokers.

Bharat Heavy Electricals Ltd.

11 Aug 2017

211.49

1.67%

Bharat Heavy Electricals Limited

Hold: Bharat Heavy Electricals Ltd.

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research Bhel reported disappointing set of Q1FY18 numbers in terms of profitability. Revenues were in line with estimates but EBITDA margins on account of higher-than-expected rise in other income dragged overall profitability. However, higher-than-expected other income helped the company report a profit in spite of EBITDA loss. Order backlog was flat QoQ in Q1FY18 Revenues came in at | 5505.6 crore, down 2.1% (I-direct estimate of...

Bharat Heavy Electri.. has an average target of 256.67 from 3 brokers.

Bharat Heavy Electricals Ltd.

06 Jun 2017

211.49

1.67%

Result Update:B H E L

Buy: Bharat Heavy Electricals Ltd.

Axis Direct

BHEL's Q4FY17 revenue at Rs 97 bn was down 3% YoY and missed our/consensus expectations of Rs 105 bn. EBITDA at Rs 6.5 bn was impacted by one-time provisions for gratuity and leave salary liabilities.

Bharat Heavy Electricals Ltd. has lost -27.21% in the last 1 Year

Bharat Heavy Electricals Ltd.

31 May 2017, 12:00AM

211.49

1.67%

Result Review of BHEL

Hold: Bharat Heavy Electricals Ltd.

IDBI Capital

The pace of order backlog improvement is weak; the hopes are not: In a base-case scenario, FY18 should have started with an executable backlog of Rs770 bn. The fact, however, is BHEL starts FY18 with Rs660 bn. This is not to say the current scenario will remain in perpetuity. With Yadadri project, which is Rs.180 bn in size, is on its way to be executable. This should allay the earnings concern to a large extent, we feel. Thereby, the revised order backlog, if executed with 35% gross margins, can promise a J-curve in earnings. Indeed, the jury is out on wage hikes. And so is the case with incremental provisioning to be made. We, however, remain bullish....

Bharat Heavy Electricals Ltd. has lost -27.21% in the last 1 Year

Is Bharat Heavy Electricals Ltd. worth buying?

2583 Votes:

Buy 76.15%

Sell 12.31%

Hold 11.54%

RESEARCH REPORTS

Hold SEE REPORTS >

pdf

Hold SEE REPORTS >

pdf