Maharatna PSU stock BHEL share price jumps 5% to hit 52-week high on strong FY26 revenue growth

Maharatna PSU stock Bharat Heavy Electricals Limited (BHEL) share price surged over 5% in intra-day deals on Monday, April 20, to its 52-week high of ₹333.75 on BSE after the company released its business update for the full financial year following market hours last Friday.

The company reported a turnover of around ₹32,350 crore (provisional and unaudited) for FY 2025–26, marking a growth of 18% over the previous year.

BHEL secured total order inflows of around ₹75,000 crore during the year. As a result, its total outstanding order book at the end of FY 2025–26 stood at around ₹2.4 lakh crore.

In the power sector, the company maintained a strong market position with significant order wins of around ₹59,000 crore during the year.

The industrial segment recorded fresh orders of around ₹16,000 crore across transportation, transmission, defence, process industries, and industrial equipment, highlighting its broad-based presence.

On the execution front, BHEL commissioned or synchronised around 8.9 GW of power capacity during the year, reflecting continued focus on project delivery and operational efficiency.

With healthy revenue growth, a strong order book, and a sustained execution pipeline, the company entered FY 2026–27 with solid momentum, while reiterating its commitment to delivering high-impact infrastructure, driving indigenisation, and enhancing stakeholder value.

BHEL Stock performance

The PSU stock remained 63% above its 52-week low of ₹205.20, hit in August 2025.

BHEL shares have advanced 45% over the last one year, while delivering multibagger returns of nearly 650% over the past five years.

In the near term as well, the stock showed strength, rising 32% in three months and 26% in one month.

BHEL Q4 Preview - Should you buy?

Bharat Heavy Electricals Limited (BHEL) is scheduled to report its results for the quarter and financial year ended March 31, 2025, on Friday, May 16, 2025. The state-run capital goods major may also consider and approve a dividend for FY25.

Kotak Institutional Equities expected BHEL to report revenue of ₹10,414 crore, up 26.1% YoY and 43.1% QoQ in Q4FY25.

EBITDA is likely to come in at ₹776.7 crore, rising 6.7% YoY and 153.3% QoQ, with margins expanding 327 bps sequentially. Net profit is estimated at ₹462.7 crore, down 4.5% YoY but up 270% QoQ.

“We expect a 22 per cent YoY improvement in revenues, driven by the power and industrial segments. We expect the gross margin to improve 90 bps YoY, though we expect the Ebitda margin to contract 130 bps yoy on the normalization in provisions, as seen in 9MFY25. We expect flat PBT YoY,” said the brokerage.

It has maintained a “sell” rating on the stock with a target price of ₹115.

Brokerage firm Axis Capital maintained a “sell” rating on the stock with a price target of ₹188, implying a downside potential of 41% from current levels.

Axis Capital said better execution by BHEL in the fourth quarter was already priced in, and added that the estimated order inflows of ₹80,600 crore for FY27 remained below the peak seen in FY25.

Track all Q4 results-related updates here.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.