Bharat Heavy Electricals P/B Ratio
Bharat Heavy Electricals (BHEL) P/B ratio is 5.53 (High), book value per share ₹375.68 vs Capital Goods average P/B of -1.37 — Very High - Significant premium, high growth expectations or speculative. Analyse BHEL shareholder distribution to track promoter, FII and institutional holdings.
Current Valuation Metrics
Book Value Breakdown (2026)
Valuation Signal
Sector Context
BHEL P/B Ratio — Valuation Insights & Book Value Analysis
Bharat Heavy Electricals price-to-book ratio interpretation, valuation status and historical context — current P/B 5.53 (High). View Bharat Heavy Electricals yearly highs lows for the annual high/low range and current price position.
- Stock appears overvalued with PB of 5.53, trading at significant premium to book value
- Trading at high premium to book value - indicates strong growth expectations or asset-light business model
- Current PB is 727.8% above historical average
- Trading at premium to sector average PB of -1.37
Bharat Heavy Electricals P/B Ratio Historical Trend
BHEL annual price-to-book ratio — 5 years, book value per share and year-end price. P/B below 1.0 indicates the stock trades below net asset value. For live price, earnings yield and the full fundamental profile, see BHEL stock price BSE.
BHEL Historical P/B Ratio — Book Value Per Share & Year-End Price
Bharat Heavy Electricals annual P/B ratio, book value per share (₹), year-end price and total equity in ₹ Crores.
| Year | P/B Ratio | Book Value/Share (₹) | Year-end Price (₹) | Total Equity (₹ Cr) | Valuation |
|---|---|---|---|---|---|
| 2026 | 1.12 | ₹375.68 | ₹421.00 | ₹26,147 | Moderate |
| 2025 | 0.81 | ₹355.2 | ₹287.45 | ₹24,722 | Low |
| 2024 | 0.65 | ₹351.14 | ₹229.40 | ₹24,439 | Low |
| 2023 | 0.55 | ₹350.26 | ₹193.55 | ₹24,378 | Low |
| 2022 | 0.21 | ₹380.85 | ₹79.20 | ₹26,507 | Low |
BHEL vs Capital Goods Peers — P/B Ratio Comparison
Bharat Heavy Electricals P/B 5.53 vs Capital Goods average -1.37, median 0.47 — range -41.24–0.95.
| Company | Symbol | P/B Ratio | Market Cap (₹ Cr) | Valuation |
|---|---|---|---|---|
| John Cockerill | COCKERILL | -41.24 | ₹3,945 | Low |
| Tarapur Transformers | TARAPUR | -12.46 | ₹23 | Low |
| Artson | ARTSON | -8.2 | ₹597 | Low |
| Jyoti | JYOTI | -5.53 | ₹132 | Low |
| Switching Technologies G… | SWITCHTE | -5.46 | ₹34 | Low |
| Incon Engineers | INCON | -5.0 | ₹11 | Low |
| Miven Machine Tools | MIVENMACH | -3.24 | ₹21 | Low |
| Mipco Seamless Rings | MPCOSEMB | -2.94 | ₹10 | Low |
| Thakral Services | THAKRAL | -1.75 | ₹16 | Low |
| HMT | HMT | -1.06 | ₹2,741 | Low |