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Bharat Heavy Electricals Ltd Q4 FY26 results are out (Jan–Mar 2026) →Revenue ₹12,310 Cr +36.9% YoYSee revenue, profit and what management said. You are viewing Q2 FY24.
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Bharat Heavy Electricals Ltd

Q2 FY24Electrical Equipment

Bharat Heavy Electricals Q2 FY24: Revenue ₹5,125 Cr, PAT ₹233 Cr

Q2 FY24 investor presentation: what the company reported on revenue, margins and capex.

Revenue
₹5,125Cr
+2.4% QoQ
Net profit
−₹63Cr
Margin
−3%
+1 pp QoQ

Bharat Heavy Electricals Ltd Q2 FY24 key numbers

Revenue
Revenue from Operations for Q2FY24: Rs 5,125 crore, down from Rs 5,203 crore in Q2FY23.

As stated in Bharat Heavy Electricals Ltd's Q2 FY24 investor presentation · published 24 Sept 2026. Reported figures, not investment advice.

Based on Bharat Heavy Electricals Ltd's Q2 FY24 investor presentation. The company has not published an earnings-call transcript for this quarter, so figures here are what the investor presentation reports, not management guidance.

Price₹415
Market cap₹1.5L Cr
P/E63.0

The short version

Revenue from Operations for Q2FY24: Rs 5,125 crore, down from Rs 5,203 crore in Q2FY23. EBITDA for Q2FY24: –₹191 crore, down from –₹19 crore in Q2FY23 (worsened by ₹172 crore) - Revenue from Operations for Q2FY24: ₹5,125 crore, slightly down from ₹5,203 crore in Q2FY23 - Turnover for Q2F

From Bharat Heavy Electricals Ltd's Q2 FY24 earnings-call transcript · updated 24 Sept 2026.

Revenue & Sales Performance

  • Revenue from Operations for Q2FY24: Rs 5,125 crore, down from Rs 5,203 crore in Q2FY23.
  • Turnover for Q2FY24: Rs 4,945 crore, up slightly from Rs 4,928 crore in Q2FY23.
  • Year-on-year change: Revenue from operations decreased by about 1.5%, turnover increased marginally by 0.3%.
  • The presentation mentions resilient economic activity and expansion in core sectors.

Profitability & Margins

EBITDA for Q2FY24: –₹191 crore, down from –₹19 crore in Q2FY23 (worsened by ₹172 crore)

Locked: what Bharat Heavy Electricals Ltd said on margins

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Capital Expenditure Plans

  • 2x800 MW Supercritical Thermal Power Project (STPP) Stage-II at Lara, Chhattisgarh, EPC basis from NTPC – order received (Q2FY24).
  • Supply of main plant equipment for 2x800 MW STPP (Phase-II) at Bandhaura, Singrauli, Madhya Pradesh – order received from Mahan Energen Limited (Adani Power Limited) (Q2FY24).
  • Electro-Mechanical Works for Dibang Multipurpose Project, 12x240 MW hydro in Arunachal Pradesh from NHPC Ltd – country’s largest E&M order for hydro project (Q2FY24).
  • Operation started: Unit#3 of 700 MWe Kakrapar Nuclear Power Plant, Gujarat – fully operational.
  • Commercial Operation Declaration (COD) of Unit#1 and synchronization of Unit#2 of 2x800 MW NTPC Telangana (Karimnagar) – BHEL scope SG Package.

2 more points from Bharat Heavy Electricals Ltd's call on capex

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Top-ranked in Electrical Equipment

Ranked on what management guided this quarter

Guidance-ranked
1GP Eco Solutions
Rev 1Mar 1
2Karamtara Engineering
Rev 1Mar 2
3
Rev 1Mar 2
4
Rev 1Mar 2
5
Rev 1Mar 2
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what Bharat Heavy Electricals Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

  • Order Book (as on 30th Sept 2023): Rs. 1,15,425 Crore
  • Power Sector: Rs. 82,673 Cr (72%)
  • Industry Sector: Rs. 27,810 Cr (24%)
  • Exports: Rs. 3,942 Cr (4%)
  • Prominent Orders Received in Q2FY24:
  • Power Sector:
  • 2x800 MW Supercritical Thermal Power Project (STPP) Stage‐II at Lara, Chhattisgarh (NTPC)
  • Main plant equipment for 2x800 MW STPP (Phase II) Bandhaura, Madhya Pradesh (Mahan Energen/Adani Power)
  • Electro‐Mechanical Works of Dibang Multipurpose Project, 12x240 MW Arunachal Pradesh (NHPC) — largest E&M order for hydro project in country
  • International:
  • Two sets of Fr 9E GT Rotors from UAE
  • Two 450 kW Squirrel Cage Induction Motors from Mexico
  • Q2FY24 Industry Sector Orders:
  • Main Transformers: 24 nos. (7,775 kVA), 28 nos. (6,531 kVA for WAG‐9 Loco)

2 more points from Bharat Heavy Electricals Ltd's call on order book

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Bharat Heavy Electricals Ltd — Quarterly revenue & net profit

Revenue Net profit Net loss
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

Bharat Heavy Electricals Ltd Q2 FY24 results — key figures

Bharat Heavy Electricals Ltd Q2 FY24 reported results vs year-ago quarter, ₹ crore
₹ CrQ2 FY24Q1 FY24QoQ
Revenue5,1255,003+2.4%
Operating profit (EBITDA)-154-178—
Operating margin-3%-4%+1 pp
Profit before tax-202-276—
Net profit (PAT)-63-205—
EPS (₹)-0.18-0.59—

Source: reported quarterly figures (Screener), ₹ crore.

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹12.3K Cr, net profit ₹1.3K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

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What B H E L's management said in earlier quarters

Earlier calls (8)

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Frequently Asked Questions

What were Bharat Heavy Electricals Ltd Q2 FY24 results?

Revenue from Operations for Q2FY24: Rs 5,125 crore, down from Rs 5,203 crore in Q2FY23. EBITDA for Q2FY24: –₹191 crore, down from –₹19 crore in Q2FY23 (worsened by ₹172 crore) - Revenue from Operations for Q2FY24: ₹5,125 crore, slightly down from ₹5,203 crore in Q2FY23 - Turnover for Q2F

What is Bharat Heavy Electricals Ltd share price analysis?

Bharat Heavy Electricals Ltd currently shows a neutral. The stock trades at a P/E of 63.0 with a market cap of ₹153,176 Cr. Investors should review the full earnings analysis for detailed insights.

Is Bharat Heavy Electricals Ltd planning capital expenditure?

2x800 MW Supercritical Thermal Power Project (STPP) Stage-II at Lara, Chhattisgarh, EPC basis from NTPC – order received (Q2FY24). - Supply of main plant equipment for 2x800 MW STPP (Phase-II) at Bandhaura, Singrauli, Madhya Pradesh – order received from Mahan Energen Limited (Adani Power Limited) (Q2FY24). - Electro-Mechanical Works for Dibang Multipurpose Project, 12x240 MW hydro in Arunachal Pradesh from NHPC Ltd – country’s largest E&M order for hydro project (Q2FY24). - Operation started: Unit#3 of 700 MWe Kakrapar Nuclear Power Plant, Gujarat – fully operational. - Commercial Operation Declaration (COD) of Unit#1 and synchronization of Unit#2 of 2x800 MW NTPC Telangana (Karimnagar) – BHEL scope SG Package. - Commissioned 3 Solar Compact Stations (SCS), Mauritius – part of 8 MWac Solar PV Farm funded by Govt.

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This analysis is AI-generated based on publicly available earnings data and the company's investor presentation. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.