loader2
Login Open ICICI 3-in-1 Account
  • Text Size
  • Text to Speech
  • Color Contrast
  • Pause Animations

Open ICICI
3-in-1 Account

Manage your Savings, Demat and Trading Account conveniently at one place

+91

BLOG

Bharat Heavy Electricals Ltd. (BHEL) reported a robust Q1FY27 performance

ICICIdirect Research 17 Jul 2026 DISCLAIMER

News: Bharat Heavy Electricals Ltd. (BHEL) reported a robust Q1FY27 performance, with revenue increasing 40.3% YoY to ₹7,697.7 crore (vs. ₹5,486.9 crore), driven by healthy execution in the Power segment. Power revenue grew 51.8% YoY to ₹5,919.5 crore, while the Industry segment increased 12.0% YoY to ₹1,778.2 crore. EBITDA improved to ₹503.9 crore from a loss of ₹537.1 crore in Q1FY26, with EBITDA margin expanding to 6.6% from -9.8%. PAT stood at ₹381.9 crore. Order inflows remained robust at ₹26,745 crore during Q1FY27, led by Power (₹22,625 crore), Industry (₹1,767 crore) and Exports (₹2,353 crore), driven by marquee thermal, export and diversified business orders. Consequently, the order book reached a record ₹2.60 lakh crore (+27% YoY), providing strong long-term revenue visibility.

View: BHEL delivered a robust operational turnaround, supported by healthy execution, sharp improvement in profitability and strong order momentum during the quarter. The record order book of ₹2.60 lakh crore (+27% YoY) provides strong multi-year revenue visibility, underpinned by a diversified backlog across thermal, transmission (₹14,000 crore), nuclear (~₹12,000 crore), defence (₹7,000 crore) and other non-thermal businesses. We expect FY27 order inflows of ~₹70,000 crore, driven by sustained ordering across these segments, which should further strengthen the order book and support long-term revenue growth. Sustained execution, margin expansion and timely conversion of the order pipeline remain key monitorables.

Impact: Positive

Download ICICI Direct app

Invest, Track, and Manage your Portfolio Anytime, Anywhere

Download ICICI Direct app

Invest, Track, and Manage your Portfolio Anytime, Anywhere