Bharat Heavy Electricals Q4 FY26 earnings call: Revenue & Margins
Q4 FY26 investor presentation: what the company reported on revenue, margins and capex.
- Revenue
- ₹12,310Cr
- +36.9% YoY
- +45.3% QoQ
- Net profit
- ₹1,290Cr
- +156% YoY
- +230.8% QoQ
- Margin
- 14%
- +5 pp YoY
- +8 pp QoQ
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Bharat Heavy Electricals Ltd Q4 FY26 key numbers
- Revenue
- Highest ever outstanding order book as on 31.03.2026: ~Rs. 2,40,000 Crore.
As stated in Bharat Heavy Electricals Ltd's Q4 FY26 investor presentation · published 24 Sept 2026. Reported figures, not investment advice.
Based on Bharat Heavy Electricals Ltd's Q4 FY26 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.
The short version
Revenue from Operations for Q4 FY26: Rs. 12,310 Crore, up from Rs. 8,993 Crore in Q4 FY25 (approx. 37% YoY growth). EBITDA for Q4 FY26: Rs. 2,005 Crore, up from Rs. 990 Crore in Q4 FY25 (more than 100% increase).
From Bharat Heavy Electricals Ltd's Q4 FY26 earnings-call transcript · updated 24 Sept 2026.
Revenue & Sales Performance
- Revenue from Operations for Q4 FY26: Rs. 12,310 Crore, up from Rs. 8,993 Crore in Q4 FY25 (approx. 37% YoY growth).
- Revenue from Operations for FY26: Rs. 33,782 Crore, up from Rs. 28,339 Crore in FY25 (19% YoY growth).
- Orders inflow in FY26: Rs. 75,916 Crore, with Q4 FY26 inflow of Rs. 30,011 Crore.
- Highest ever outstanding order book as on 31.03.2026: ~Rs. 2,40,000 Crore.
2 more points from Bharat Heavy Electricals Ltd's call on revenue
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Profitability & Margins
EBITDA for Q4 FY26: Rs. 2,005 Crore, up from Rs. 990 Crore in Q4 FY25 (more than 100% increase).
Locked: what Bharat Heavy Electricals Ltd said on margins
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Capital Expenditure Plans
- Capacity Addition commissioned in FY 2025-26:
- 800 MW Unit #4 of Yadadri Thermal Power Station (TPS)
- 800 MW of North Chennai Stage-III
- 660 MW Unit #5 of Sagardighi Super Thermal Power Plant (STPP)
- Full Load achievement in FY 2025-26:
- 800 MW Unit #3 of Yadadri TPS
- 800 MW Unit #2 of Patratu Super Thermal Power Station (STPS)
- Synchronization milestones in FY 2025-26:
- 90 MW Steam Turbine Generator (STG) of Orissa Metallurgical Industries Pvt. Ltd.
- 120 MW STG of Industrial Energy Ltd.
- 90 MW Unit #2 STG of Shyam SEL & Power Ltd.
- Order book highlights include:
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Top-ranked in Electrical Equipment
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
Financial highlights focus on revenue, EBITDA, profit, trade receivables, and contract assets without…
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Order Book & Pipeline
- Highest ever outstanding order book: ~Rs. 2,40,000 Crore as of 31-03-2026 (Page 6)
- Order inflow in FY26: Rs. 75,916 Crore; Q4FY26: Rs. 30,011 Crore (Page 6)
- Order book composition as of 31-03-2026:
- Power: Rs. 1,92,298 Crore (81%)
- Industry: Rs. 43,397 Crore (18%)
- Export: Rs. 3,362 Crore (1%) (Page 6)
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
Bharat Heavy Electricals Ltd Q4 FY26 results — key figures
| ₹ Cr | Q4 FY26 | Q4 FY25 | YoY | Q3 FY26 | QoQ |
|---|---|---|---|---|---|
| Revenue | 12,310 | 8,993 | +36.9% | 8,473 | +45.3% |
| Operating profit (EBITDA) | 1,753 | 832 | +110.7% | 545 | +221.7% |
| Operating margin | 14% | 9% | +5 pp | 6% | +8 pp |
| Profit before tax | 1,728 | 704 | +145.5% | 520 | +232.3% |
| Net profit (PAT) | 1,290 | 504 | +156% | 390 | +230.8% |
| EPS (₹) | 3.71 | 1.45 | +155.9% | 1.12 | +231.2% |
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.
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What B H E L's management said in earlier quarters
Others in Electrical Equipment this season
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- Vivid Electromech (Q4 FY26)
Revenue for H2 FY26: ₹130.20 Crore, up 28.16% YoY from H2 FY25. Key investor presentation takeaways from Vivid Electromech Ltd's Q4 FY26 investor presentation —
- Eppeltone Engineers (Q4 FY26)
1,347.4 Mn, reflecting 8.4% YoY growth over FY25 (Rs. Key investor presentation takeaways from Eppeltone Engineers's Q4 FY26 investor presentation — and how it
- Aartech Solonics (Q4 FY26)
Standalone: ₹1,746.10 Lakhs (vs ₹1,012.96 Lakhs in Q4FY25) . Key investor presentation takeaways from Aartech Solonics's Q4 FY26 investor presentation — and how
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Bharat Heavy Electricals Ltd Q4 FY26 results?
Revenue from Operations for Q4 FY26: Rs. 12,310 Crore, up from Rs. 8,993 Crore in Q4 FY25 (approx. 37% YoY growth). EBITDA for Q4 FY26: Rs. 2,005 Crore, up from Rs. 990 Crore in Q4 FY25 (more than 100% increase).
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?
Capacity Addition commissioned in FY 2025-26: - 800 MW Unit #4 of Yadadri Thermal Power Station (TPS) - 800 MW of North Chennai Stage-III - 660 MW Unit #5 of Sagardighi Super Thermal Power Plant (STPP) - Full Load achievement in FY 2025-26: - 800 MW Unit #3 of Yadadri TPS - 800 MW Unit #2 of Patratu Super Thermal Power Station (STPS) - Synchronization milestones in FY 2025-26: - 90 MW Steam Turbine Generator (STG) of Orissa Metallurgical Industries Pvt.
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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.