Better execution, margin gains positive for Bhel despite valuation concerns

Business Standard · Devangshu Datta · 2026-10-16 14:27 UTC

Bhel's Q2FY27 profit surged 119 per cent year-on-year as revenue growth and margin gains beat estimates, while a Rs 2.6 trillion order book supports future growth prospects

Bharat Heavy Electricals' (BHEL) second quarter revenue beat consensus estimates, as it rose 24 per cent year-on-year (Y-o-Y) to ₹9,300 crore. Sequentially, it jumped 21 per cent. Gross margin stood at 37 per cent, up 595 basis points (bps) Y-o-Y and 536 bps quarter-on-quarter (Q-o-Q). While, earnings before interest, tax, depreciation and amortisation (Ebitda) margin came in at 11 per cent, up 330 basis points Y-o-Y and 448 basis points sequentially. Net profit surged 119 per cent Y-o-Y and 118 per cent Q-o-Q to ₹800 crore.

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