Bharat Heavy Electricals Complete Financial Statements
BHEL • Review detailed financials to uncover trends, confirm thesis & journal trades
11 Years of Data
2025 - 2015
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Export complete financial statements for Bharat Heavy Electricals (BHEL).
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Profitability Ratios
Net Profit Margin
4.87%
2025 data
EBITDA Margin
10.00%
2025 data
Operating Margin
8.00%
2025 data
Return on Assets
0.55%
2025 data
Return on Equity
1.52%
2025 data
Balance Sheet Ratios
Current Ratio
2.83
2025 data
Debt to Equity
2.75
2025 data
Equity Ratio
36.31%
2025 data
Asset Turnover
0.11
2025 data
Year-over-Year Growth Analysis
Comparing Sept 2024 vs Sept 2025
Revenue Growth
+14.7%
Year-over-Year
Net Profit Growth
+253.8%
Year-over-Year
EBITDA Growth
+91.1%
Year-over-Year
Expense Growth
+9.9%
Year-over-Year
Assets Growth
+15.4%
Year-over-Year
Equity Growth
+1.2%
Year-over-Year
Liabilities Growth
+15.4%
Year-over-Year
Operating Cash Flow Growth
+159.0%
Year-over-Year
Investing Cash Flow Growth
-305.2%
Year-over-Year
Financing Cash Flow Growth
-132.3%
Year-over-Year
Income Statement
Periods
₹ Crores
| Particulars | Sept 2025 | Mar 2025 | Jun 2025 | Sept 2024 | Mar 2024 | Jun 2024 | Dec 2024 | Sept 2023 | Mar 2023 | Jun 2023 | Dec 2023 | Sept 2022 | Mar 2022 | Jun 2022 | Dec 2022 | Sept 2021 | Mar 2021 | Jun 2021 | Dec 2021 | Sept 2020 | Mar 2020 | Jun 2020 | Dec 2020 | Sept 2019 | Mar 2019 | Jun 2019 | Dec 2019 | Sept 2018 | Jun 2018 | Dec 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 7,701 | 9,153 | 5,672 | 6,712 | 8,430 | 5,596 | 7,403 | 5,317 | 7,944 | 5,133 | 5,622 | 5,154 | 7,731 | 4,533 | 5,050 | 5,007 | 6,836 | 2,798 | 5,023 | 3,554 | 4,741 | 1,997 | 4,302 | 6,170 | 10,036 | 4,557 | 5,616 | 6,761 | 5,971 | 7,352 |
| Expenses | 6,931 | 8,162 | 6,024 | 6,309 | 7,532 | 5,654 | 6,973 | 5,279 | 7,178 | 5,182 | 5,287 | 5,447 | 6,910 | 4,842 | 5,119 | 5,142 | 8,439 | 3,377 | 5,047 | 4,329 | 5,610 | 3,050 | 4,632 | 5,962 | 8,987 | 4,802 | 5,354 | 6,641 | 5,765 | 7,122 |
| EBITDA | 770 | 991 | -352 | 403 | 898 | -58 | 430 | 38 | 766 | -48 | 335 | -292 | 822 | -309 | -70 | -136 | -1,603 | -579 | -24 | -776 | -869 | -1,053 | -329 | 209 | 1,049 | -245 | 262 | 120 | 205 | 230 |
| Operating Profit Margin % | 8.00% | 9.00% | -10.00% | 4.00% | 9.00% | -3.00% | 4.00% | -3.00% | 8.00% | -4.00% | 4.00% | -11.00% | 9.00% | -9.00% | -4.00% | -5.00% | -25.00% | -24.00% | -3.00% | -26.00% | -22.00% | -61.00% | -10.00% | 1.00% | 9.00% | -9.00% | 2.00% | 0.00% | 1.00% | 0.00% |
| Depreciation | 76 | 85 | 75 | 60 | 68 | 59 | 68 | 60 | 73 | 60 | 61 | 59 | 86 | 67 | 63 | 43 | 127 | 111 | 74 | 115 | 154 | 119 | 113 | 120 | 134 | 115 | 115 | 52 | 176 | 113 |
| Interest | 195 | 201 | 181 | 201 | 193 | 162 | 184 | 180 | 161 | 168 | 190 | 123 | 96 | 98 | 139 | 90 | 79 | 84 | 86 | 95 | 141 | 115 | 86 | 119 | 97 | 108 | 140 | 69 | 64 | 58 |
| Profit Before Tax | 499 | 704 | -608 | 141 | 636 | -279 | 179 | -202 | 940 | -276 | 85 | -200 | 1,102 | -251 | 53 | -67 | -1,390 | -597 | 33 | -734 | -709 | -1,192 | -280 | 167 | 1,278 | -347 | 229 | 172 | 110 | 280 |
| Tax | 124 | 200 | -153 | 35 | 147 | -68 | 44 | -139 | 282 | -72 | 24 | -212 | 189 | -63 | 10 | -21 | -354 | -149 | 6 | -181 | 824 | -299 | -62 | 46 | 598 | -128 | 68 | 86 | 70 | 83 |
| Net Profit | 375 | 505 | -456 | 106 | 490 | -211 | 135 | -63 | 658 | -205 | 60 | 12 | 913 | -188 | 42 | -47 | -1,036 | -448 | 27 | -552 | -1,532 | -893 | -218 | 121 | 681 | -219 | 162 | 85 | 40 | 196 |
| Earnings Per Share (₹) | 1.08 | 1.45 | -1.31 | 0.30 | 1.41 | -0.61 | 0.39 | -0.18 | 1.89 | -0.59 | 0.17 | 0.03 | 2.62 | -0.54 | 0.12 | -0.13 | -2.97 | -1.29 | 0.08 | -1.59 | -4.40 | -2.56 | -0.62 | 0.35 | 1.88 | -0.63 | 0.46 | 0.23 | 0.11 | 0.54 |
Related Pages for Bharat Heavy Electricals
Additional stock information and data for BHEL
Balance Sheet
Years
Annual Data
₹ Crores
| Particulars | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||||
| Total Assets | 68,083 | 59,002 | 56,920 | 56,244 | 55,240 | 59,749 | 63,934 | 63,474 | 61,347 | 65,321 | 70,846 |
| Current Assets | 42,760 | 34,542 | 29,095 | 27,862 | 28,343 | 32,711 | 38,381 | 42,143 | 42,904 | 45,140 | 49,041 |
| Fixed Assets | 2,947 | 2,574 | 2,476 | 2,399 | 2,491 | 2,817 | 2,971 | 3,073 | 3,601 | 3,969 | 4,230 |
| Capital Work in Progress | 195 | 308 | 354 | 431 | 420 | 314 | 235 | 203 | 168 | 318 | 2,614 |
| Investments | 276 | 256 | 235 | 205 | 185 | 162 | 152 | 429 | 757 | 796 | 0 |
| Other Assets | 64,665 | 55,864 | 53,855 | 53,209 | 52,144 | 56,455 | 60,576 | 59,769 | 56,821 | 60,238 | 64,003 |
| LIABILITIES | |||||||||||
| Total Liabilities | 68,083 | 59,002 | 56,920 | 56,244 | 55,240 | 59,749 | 63,934 | 63,474 | 61,347 | 65,321 | 70,846 |
| Current Liabilities | 15,135 | 9,316 | 9,062 | 8,366 | 8,911 | 8,488 | 9,982 | 9,275 | 8,817 | 12,265 | 13,910 |
| Non-Current Liabilities | |||||||||||
| SHAREHOLDERS' EQUITY | |||||||||||
| Total Equity | 24,722 | 24,439 | 24,378 | 26,507 | 25,972 | 28,652 | 30,898 | 32,331 | 32,388 | 32,315 | 34,209 |
| Share Capital | 696 | 696 | 696 | 696 | 696 | 696 | 696 | 734 | 490 | 490 | 490 |
| Reserves & Surplus | 24,026 | 23,742 | 23,682 | 25,810 | 25,287 | 27,964 | 30,208 | 31,601 | 31,900 | 31,825 | 33,717 |
Cash Flow Statement
Periods
₹ Crores
| Particulars | March 2025 | March 2024 | March 2023 | March 2022 | March 2021 | March 2020 | March 2019 | March 2018 | March 2017 | March 2016 | March 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | 2,192 | -3,713 | -741 | 660 | 560 | -2,892 | -3,860 | 989 | 560 | 374 | 821 |
| Investing Activities | -2,731 | 1,331 | 1,481 | -1,118 | -43 | 1,877 | 1,919 | 961 | -565 | 23 | 650 |
| Financing Activities | -857 | 2,656 | 89 | -330 | -394 | 1,622 | -32 | -667 | -468 | -123 | -3,543 |
| Net Cash Flow | -1,396 | 274 | 829 | -787 | 123 | 608 | -1,973 | 1,283 | -473 | 275 | -2,071 |