# BHEL share price today (Bharat Heavy Electricals Ltd, NSE: BHEL)

> BHEL share price today: ₹423.85 at the NSE close on 4 November 2026, up 60.6% in a year. Bharat Heavy Electricals (NSE: BHEL) is worth ₹1,47,435 crore, trades at a P/E of 51.2 and has closed between ₹242.50 and ₹439.90 over the past 52 weeks. > Bharat Heavy Electricals Ltd's multiple is near its low because earnings grew even faster than a 6× rise in the share price over five years. The multiple is low because of growth, not neglect. Results are still improving, and its P/E is higher than only 31% of its own 11-year history. BHEL · Capital Goods - Engineering Heavy · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/bharat-heavy-electricals-ltd

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## Key numbers

- Business trend: Mixed, from fewer quarters than usual
- Price: ₹423.85 (+60.6% in a year)
- P/E: 51.2× (lower than 69% of the last 11 years)
- Revenue (Sep 2026): ₹9,300 Cr (+23.8% on a year ago)
- Profit (Sep 2026): ₹821 Cr (+118.9% on a year ago)
- Operating margin: 11.0% (+3.0 points on a year ago)
- ROCE: 9%, FY26
- Profit that came in as cash: 179%, last 3 years

The main question: yearly earnings per share moved +200.7% while the share price moved +60.6%. ## What is the BHEL share price today? Bharat Heavy Electricals Ltd's share price was ₹423.85 at the close on 4 November 2026. It has been rising for 51 weeks. That is 14.0% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹243 and ₹440, and at that close it sat 92% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 14 weeks in a row. Over the last 11 years the share price moved +513% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at BHEL this quarter? Three changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare), foreign funds (FIIs) raised their stake for 4 quarters in a row and profit up on a year earlier for 5 quarters in a row. 1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare) In the September 2026 quarter revenue was ₹9,300 crore, +23.8% on a year earlier. 2. Foreign funds (FIIs) raised their stake for 4 quarters in a row From 6.2% to 9.9% of the company by the September 2026 quarter. 3. Profit up on a year earlier for 5 quarters in a row In the September 2026 quarter profit was ₹821 crore, +118.9% on a year earlier. ## What dividend does BHEL pay? BHEL paid ₹1.40 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.33% at the ₹423.85 close on 4 November 2026. The last was a dividend of ₹1.40 a share, ex-date 17 July 2026. ### BHEL dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 17 Jul 2026 | ₹1.40 | Dividend | same day |
| 1 Aug 2025 | ₹0.50 | Dividend | same day |
| 9 Aug 2024 | ₹0.25 | Dividend | same day |
| 11 Aug 2023 | ₹0.40 | Dividend | same day |
| 15 Sep 2022 | ₹0.40 | Dividend | 16 Sep 2022 |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 4 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Bharat Heavy Electricals Ltd paid out 30% of its profit as dividends in FY26, and it paid a dividend in 10 of its last 13 reported years. One of those years shows a negative figure because profit itself was negative. (From the NSE corporate-actions record, read 5 November 2026.)

## What are BHEL's latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), BHEL reported revenue of ₹9,300 crore, up 23.8% from ₹7,512 crore a year earlier, and a profit of ₹821 crore, up 118.9% from ₹375 crore. ### BHEL results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹9,300 crore | ₹7,512 crore | +23.8% |
| Profit | ₹821 crore | ₹375 crore | +118.9% |
| Earnings per share | ₹2.36 | ₹1.08 | +118.5% |
| Operating margin | 11.0% | 8.0% | +3.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the BHEL share price history? BHEL closed at ₹423.85 on 4 November 2026, up 60.6% from ₹263.85 a year earlier (7 November 2025) and up 491.6% over five years. Its highest weekly close since March 2016 was ₹439.90 on 18 September 2026. ### BHEL share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹387.60 | +9.4% |
| 1 month ago · 1 Oct 2026 | ₹421.00 | +0.7% |
| 6 months ago · 8 May 2026 | ₹404.60 | +4.8% |
| 1 year ago · 7 Nov 2025 | ₹263.85 | +60.6% |
| 3 years ago · 3 Nov 2023 | ₹128.60 | +229.6% |
| 5 years ago · 4 Nov 2021 | ₹71.65 | +491.6% |
| 10 years ago · 4 Nov 2016 | ₹89.80 | +372.0% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹69.13 | +513.1% |
| Highest weekly close since March 2016, also the 52-week high · 18 Sep 2026 | ₹439.90 | −3.6% |
| Lowest weekly close since March 2016 · 27 Mar 2020 | ₹20.35 | +1,982.8% |
| 52-week low (weekly close) · 23 Jan 2026 | ₹242.50 | +74.8% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (564 weekly closes from 11 March 2016 to 4 November 2026.)

## What is the latest news on BHEL? 4 Nov 2026: BHEL closed at ₹423.85, up 9.4% on the week and up 0.7% on the month. Results for July to September 2026: Revenue up 23.8% and profit up 118.9% on a year earlier. ### Earlier

- 17 Jul 2026: ex-date for a dividend of ₹1.40 a share. ## Which stock lists is BHEL on? BHEL is on one of our India lists: Power & green energy stocks. - [Power & green energy stocks Group on the list: Power equipment, transformers and cables](https://www.sectoralpha.in/sectors/power-stocks-india)

## Is BHEL profitable? Bharat Heavy Electricals Ltd earned ₹821 Cr of net profit in the Sep 2026 quarter, +118.9% on the same quarter a year earlier. Full-year FY26 profit was ₹1,600 Cr. That is 8.8% of the quarter's revenue. The same quarter a year earlier earned ₹375 Cr. 2 of the last 12 reported quarters were loss-making. For the full year, FY26 profit was ₹1,600 Cr (+199.6% on the year before). Why profit moved: revenue changed +23.8% on a year earlier and the margin moved +3.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +154.6% and revenue +29.3%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does BHEL make, and is it growing? Bharat Heavy Electricals Ltd reported ₹9,300 Cr of revenue in the Sep 2026 quarter, +23.8% on the same quarter a year earlier. That is the 5th quarter in a row with growth on the year before. Over 10 years it has grown 2.9% a year on average. The last full year, FY26, came in at ₹33,782 Cr. The last four reported quarters add to ₹37,781 Cr. FY26 revenue was ₹33,782 Cr, +19.2% on the year before. Recent pace: the last four quarters grew +29.3% on average, against 2.9% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +29.1%, against +20.9% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +415.8%, against +154.3% a year (accelerating). ## How much of every ₹100 of sales does BHEL keep? Bharat Heavy Electricals Ltd's operating margin was 11.0% in the Sep 2026 quarter, 3.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between −18.0% and 12.0%. The latest quarter is within that range. Why the margin moved: operating margin changed +3.3 percentage points on the year while gross margin changed +5.9 points. So the gain came mostly from the gross margin, which means input costs and prices charged. ## Is BHEL's profit turning into cash? Over the last 3 years, 179% of Bharat Heavy Electricals Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹5,837 Cr of operating cash against ₹1,600 Cr of profit. After ₹668 Cr of spending on assets, ₹5,169 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 179% of profit came in as cash: the cash cycle got 14 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. What to look at next: the bigger use of cash is spending on new assets, at 1.8× depreciation over three years. The next section checks what that spending is building. ## Where does BHEL's cash go? Bharat Heavy Electricals Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 151 days in FY26, up from 137 days in FY21. It spent ₹1,501 Cr on assets over the last 3 years. Customers take 73 days to pay, and stock sits for 309 days on average. At FY26 sales of ₹33,782 Cr, each day of that cycle ties up about ₹92.6 Cr, so roughly ₹13,976 Cr is tied up in the business at any time. FY26: customers took 73 days to pay and stock sat for 309 days, about 10.2 months of sales sitting as stock, for a full cycle of 151 days, longer than FY21's 137. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 309 days. Customers pay about 73 days after that. Suppliers are paid at 231 days. Together that makes the 151-day cycle. Spending on assets: ₹1,501 Cr over the last 3 years, against ₹837 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹495 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is BHEL's P/E ratio, and how does it compare with its own history? Bharat Heavy Electricals Ltd's P/E is 51.2×, near the low end of its own history: it has been lower only 31% of the time. Its usual P/E (the middle reading) is 64.5×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +200.7% while the price moved +60.6%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 10 years the price moved +16.8% a year; about +7.7% a year came from earnings growth and about +9.1 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. The PEG ratio and its quarterly curve, which only the second data source has, are not shown on this page: its two data sources disagree by up to 347% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Is the BHEL business getting better or worse? Bharat Heavy Electricals Ltd's business is giving mixed signals. Growth has been steadily positive, but ROCE at 9.0% is below the 15% level needed to call it steady growth. This is based on 9 quarters of 4 measures, with some gaps. Why it matters: when the lines disagree, each line above matters more than any single label. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution. ## How much does BHEL earn on its capital? Bharat Heavy Electricals Ltd earned a ROCE of 9% in FY26. That is up from a low of −10% in FY21. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 4.7% net margin and 0.44× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 4.7% net margin × 0.44× asset turnover × 2.94× leverage (assets divided by equity) ≈ 6.1% on equity. The margin does its share; borrowing is a big part of it. The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 347% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Does BHEL have too much debt? Bharat Heavy Electricals Ltd had ₹8,187 Cr of borrowings against ₹26,146 Cr of equity in FY26, so its debt is 0.31× its equity. Its operating profit is 3 times its interest bill. Over 5 years borrowings went from ₹4,951 Cr to ₹8,187 Cr. Over the last 3 of those years it spent ₹1,501 Cr on assets. Part of the spending on assets is being paid for with borrowed money. The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 347% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What is the BHEL shareholding pattern? Domestic institutions raised their stake in Bharat Heavy Electricals Ltd by 7.1 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 21.8% of the company. Promoters moved −5.0 points over the same period, to 58.2%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +7.1 points over 8 quarters, to 21.8%; Promoters: −5.0 points over 8 quarters, to 58.2%; Foreign institutions: +0.5 points over 8 quarters, to 9.9%. Why the owners changed: domestic institutions drove it (+7.1 points), with the other side taken by promoters (−5.0 points). They raised their stake step by step. ## How far is BHEL from balance-sheet trouble? For Bharat Heavy Electricals Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does BHEL rank in its industry? 62.4 out of 100, rank 2 of 16 in Capital Goods - Engineering Heavy, with 75% of the evidence available. Bharat Heavy Electricals Ltd scores 62.4 out of 100 against the 16 companies it is compared with in Capital Goods - Engineering Heavy, ranking 2. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 27.9 + 9 + 9.7 + 15.8 = 62.4. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is BHEL compared with? BHEL ranks 2 of 16 Capital Goods - Engineering Heavy companies on the 4-Factor Sector Score, with 62.4 out of 100. 1. [JNK India Ltd](https://www.sectoralpha.in/stocks/jnk-india-ltd) JNKINDIA · quiet · Most evidence points up · 79% evidence 70.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.8/35 · Revenue 84.4% · Profit 100% · Operating margin change 5.5 points · 88% evidence Capital efficiency 14.9/25 · ROCE 17.4% · Operating margin 8.8% · 100% evidence Valuation 10.7/20 · P/E 28× · PEG n/a · 15% evidence Relative strength 13.6/20 · Lead over its industry 14.8% · Lead over NIFTY 500 15.5% · 1 year 28.7% · 100% evidence · 3 of 12 weeks ahead Exact sum: 30.8 + 14.9 + 10.7 + 13.6 = 70 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. Bharat Heavy Electricals Ltd this page BHEL · losing its lead · Evidence leans up · 75% evidence 62.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.9/35 · Revenue 29.1% · Profit 100% · Operating margin change 3 points · 95% evidence Capital efficiency 9.0/25 · ROCE 9.1% · Operating margin 11% · 76% evidence Valuation 9.7/20 · P/E 46.9× · PEG n/a · 15% evidence Relative strength 15.8/20 · Lead over its industry 16.2% · Lead over NIFTY 500 18% · 1 year 46% · 100% evidence · 7 of 12 weeks ahead Exact sum: 27.9 + 9 + 9.7 + 15.8 = 62.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Disa India Ltd](https://www.sectoralpha.in/stocks/disa-india-ltd) DISAQ · quiet · Evidence leans up · 81% evidence 59.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.9/35 · Revenue 3.8% · Profit 6.3% · Operating margin change -1 points · 88% evidence Capital efficiency 21.2/25 · ROCE 26.6% · Operating margin 14% · 100% evidence Valuation 11.6/20 · P/E 30.4× · PEG 1.9 · 100% evidence Relative strength 9.6/20 · Lead over its industry n/a · Lead over NIFTY 500 -2.5% · 1 year -18.3% · 25% evidence · 1 of 12 weeks ahead Exact sum: 16.9 + 21.2 + 11.6 + 9.6 = 59.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. Concord Control Systems Ltd turning · Too little evidence to rank firmly · 57% evidence 58.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.6/35 · Revenue 100% · Profit 100% · Operating margin change 10 points · 27% evidence Capital efficiency 17.4/25 · ROCE 31.2% · Operating margin 30% · 71% evidence Valuation 9.0/20 · P/E 58.4× · PEG n/a · 50% evidence Relative strength 12.6/20 · Lead over its industry -1.8% · Lead over NIFTY 500 1.6% · 1 year 22.7% · 100% evidence · 1 of 12 weeks ahead Exact sum: 19.6 + 17.4 + 9 + 12.6 = 58.6 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 5. [Eimco Elecon (India) Ltd](https://www.sectoralpha.in/stocks/eimco-elecon-indialtd) EIMCOELECO · leader · Evidence leans up · 85% evidence 58.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.9/35 · Revenue 25.3% · Profit 2.9% · Operating margin change 3.2 points · 100% evidence Capital efficiency 11.6/25 · ROCE 10.3% · Operating margin 18.9% · 100% evidence Valuation 11.2/20 · P/E 29.3× · PEG 1.12 · 100% evidence Relative strength 12.3/20 · Lead over its industry n/a · Lead over NIFTY 500 26.2% · 1 year 14.4% · 25% evidence · 12 of 12 weeks ahead Exact sum: 22.9 + 11.6 + 11.2 + 12.3 = 58 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Suzlon Energy Ltd](https://www.sectoralpha.in/stocks/suzlon-energy-ltd) SUZLON · basing · Evidence leans up · 100% evidence 56.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.4/35 · Revenue 33.9% · Profit -28.8% · Operating margin change -4 points · 100% evidence Capital efficiency 20.5/25 · ROCE 34.2% · Operating margin 15% · 100% evidence Valuation 19.0/20 · P/E 20.5× · PEG 0.36 · 100% evidence Relative strength 3.8/20 · Lead over its industry -29.6% · Lead over NIFTY 500 -27% · 1 year -42.9% · 100% evidence · 0 of 12 weeks ahead Exact sum: 13.4 + 20.5 + 19 + 3.8 = 56.7 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 7. [Hercules Investments Ltd](https://www.sectoralpha.in/stocks/hercules-investments-ltd) HERCULES · Evidence leans up · 65% evidence 51.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.2/43.75 · Revenue -80% · Profit -74.3% · Operating margin change -0.4 points · 56% evidence Capital efficiency 11.1/31.25 · ROCE 5.7% · Operating margin 48.7% · 100% evidence Valuation 22.1/25 · P/E 8.6× · PEG 0.28 · 100% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 18.2 + 11.1 + 22.1 = 51.4 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. 8. [Integra Engineering India Ltd](https://www.sectoralpha.in/stocks/integra-engineering-india-ltd) basing · Evidence leans down · 76% evidence 48.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 10.4/35 · Revenue 1.7% · Profit -16.6% · Operating margin change -3.5 points · 83% evidence Capital efficiency 18.2/25 · ROCE 18.5% · Operating margin 16.4% · 95% evidence Valuation 9.9/20 · P/E 34.1× · PEG n/a · 15% evidence Relative strength 9.7/20 · Lead over its industry -16.3% · Lead over NIFTY 500 -13.7% · 1 year -38.4% · 100% evidence · 0 of 12 weeks ahead Exact sum: 10.4 + 18.2 + 9.9 + 9.7 = 48.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [John Cockerill India Ltd](https://www.sectoralpha.in/stocks/john-cockerill-india-ltd) COCKERILL · quiet · Evidence leans down · 74% evidence 46.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.0/35 · Revenue 78.6% · Profit 100% · Operating margin change -4.6 points · 88% evidence Capital efficiency 8.8/25 · ROCE 11.1% · Operating margin -2.3% · 100% evidence Valuation 3.9/20 · P/E 155× · PEG 9.45 · 65% evidence Relative strength 11.6/20 · Lead over its industry n/a · Lead over NIFTY 500 7.1% · 1 year 28% · 25% evidence · 3 of 12 weeks ahead Exact sum: 22 + 8.8 + 3.9 + 11.6 = 46.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Walchandnagar Industries Ltd](https://www.sectoralpha.in/stocks/walchandnagar-industries-ltd) WALCHANNAG · quiet · Evidence leans down · 71% evidence 45.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.2/35 · Revenue 38% · Profit 96.7% · Operating margin change 12.9 points · 65% evidence Capital efficiency 5.4/25 · ROCE 4.2% · Operating margin 8.1% · 100% evidence Valuation 9.1/20 · P/E 117.8× · PEG n/a · 15% evidence Relative strength 5.3/20 · Lead over its industry -8.4% · Lead over NIFTY 500 -6.5% · 1 year 1.5% · 100% evidence · 0 of 12 weeks ahead Exact sum: 25.2 + 5.4 + 9.1 + 5.3 = 45 · What this means: Earnings are strong; relative strength in its sector is -8.4% and the one-year return is 1.5%. 11. [Inox Wind Ltd](https://www.sectoralpha.in/stocks/inox-wind-ltd) INOXWIND · quiet · Evidence leans down · 89% evidence 38.8 out of 100 Growth Capital Valuation Relative
12. [The Anup Engineering Ltd](https://www.sectoralpha.in/stocks/the-anup-engineering-ltd) ANUP · quiet · Evidence leans down · 89% evidence 38.7 out of 100 Growth Capital Valuation Relative
13. [Kabra Extrusion Technik Ltd](https://www.sectoralpha.in/stocks/kabra-extrusion-technik-ltd) KABRAEXTRU · leader · Evidence leans down · 78% evidence 37.0 out of 100 Growth Capital Valuation Relative
14. [Windsor Machines Ltd](https://www.sectoralpha.in/stocks/windsor-machines-ltd) WINDMACHIN · turning · Too little evidence to rank firmly · 56% evidence 36.4 out of 100 Growth Capital Valuation Relative
15. [Bajaj Steel Industries Ltd](https://www.sectoralpha.in/stocks/bajaj-steel-industries-ltd) BAJAJST · quiet · Most evidence points down · 81% evidence 29.8 out of 100 Growth Capital Valuation Relative
16. [Praj Industries Ltd](https://www.sectoralpha.in/stocks/praj-industries-ltd) PRAJIND · quiet · Most evidence points down · 85% evidence 25.8 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Capital Goods - Engineering Heavy](https://www.sectoralpha.in/sectors/capital-goods-engineering-heavy), all 16 compared on one page. ## Which companies are close to BHEL in size? BHEL is the largest of 16 Capital Goods - Engineering Heavy companies on Sector Alpha by market value (scores of 30 October 2026). It is the largest. Just below it: Suzlon Energy, Inox Wind, Praj Industries, John Cockerill India, Windsor Machines and The Anup Engineering. ### Capital Goods - Engineering Heavy companies close in size

1. Bharat Heavy Electricals Ltd ₹1,34,965 crore
2. [Suzlon Energy Ltd](https://www.sectoralpha.in/stocks/suzlon-energy-ltd) ₹46,227 crore
3. [Inox Wind Ltd](https://www.sectoralpha.in/stocks/inox-wind-ltd) ₹9,540 crore
4. [Praj Industries Ltd](https://www.sectoralpha.in/stocks/praj-industries-ltd) ₹4,443 crore
5. [John Cockerill India Ltd](https://www.sectoralpha.in/stocks/john-cockerill-india-ltd) ₹3,284 crore
6. [Windsor Machines Ltd](https://www.sectoralpha.in/stocks/windsor-machines-ltd) ₹2,762 crore
7. [The Anup Engineering Ltd](https://www.sectoralpha.in/stocks/the-anup-engineering-ltd) ₹2,630 crore

[All 16 Capital Goods - Engineering Heavy companies, largest first](https://www.sectoralpha.in/sectors/capital-goods-engineering-heavy#all-companies)

### Companies close in size in other industries

1. [Cholamandalam Investment & Finance Company Ltd](https://www.sectoralpha.in/stocks/cholamandalam-investment-finance-company-ltd) ₹1,35,517 crore · Conglomerate Backed NBFC
2. [Jio Financial Services Ltd](https://www.sectoralpha.in/stocks/jio-financial-services-ltd) ₹1,35,034 crore · Conglomerate Backed NBFC
3. Bharat Heavy Electricals Ltd ₹1,34,965 crore
4. [ICICI Prudential Asset Management Co Ltd](https://www.sectoralpha.in/stocks/icici-prudential-asset-management-co-ltd) ₹1,33,791 crore · Finance - AMC
5. [Varun Beverages Ltd](https://www.sectoralpha.in/stocks/varun-beverages-ltd) ₹1,32,594 crore · FMCG - Contract Mfg

## What else do people ask about BHEL? ### What is BHEL's share price today? Bharat Heavy Electricals Ltd's share price is ₹423.85, +60.6% over the past year. The whole company is worth ₹1,47,435 Cr on the market. In the last 52 weeks it traded between ₹243 to ₹440; today it is 92% of the way up from the low, 14.0% above its 200-day average (as of 4 November 2026). ### What were BHEL's latest quarterly results? Bharat Heavy Electricals Ltd reported revenue of ₹9,300 Cr and net profit of ₹821 Cr for the Sep 2026 quarter. Revenue rose 23.8% and profit rose 118.9% compared with a year earlier. Earnings per share were ₹2.36. The operating margin was 11.0%, 3.0 percentage points higher than a year earlier (as of 4 November 2026). ### What is BHEL's market cap? Bharat Heavy Electricals Ltd's market capitalisation is ₹1,47,435 Cr at a share price of ₹423.85. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is BHEL performing? Bharat Heavy Electricals Ltd's share price has been rising for 51 weeks. In its latest quarter, revenue rose 23.8% and profit rose 118.9% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 14 weeks running (as of 4 November 2026). ### Will BHEL's share price go up? This page does not forecast Bharat Heavy Electricals Ltd's share price. What it shows instead: the share price is ₹423.85, and it has been rising for 51 weeks. Its P/E of 51.2× is higher than 31% of its own last 11 years (as of 4 November 2026). ### Who owns BHEL? Promoters own 58.2% of Bharat Heavy Electricals Ltd, foreign institutions 9.9%, domestic institutions 21.8% and the public 10.0% (latest quarter). The biggest change over the last two years: Domestic institutions raised their stake by 7.1 percentage points over 8 quarters (as of 4 November 2026). ### Where is BHEL in its business cycle? Bharat Heavy Electricals Ltd's FY26 operating margin was 8.0%, against a 13-year range of −18.0% to 12.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 11.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the BHEL story? The main question: yearly earnings per share moved +200.7% while the share price moved +60.6%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is BHEL a stock worth studying right now? What the numbers show: Bharat Heavy Electricals Ltd's multiple is near its low because earnings grew even faster than a 6× rise in the share price over five years. The multiple is low because of growth, not neglect. Results are still improving, and its P/E is higher than only 31% of its own 11-year history. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ## Lists

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