BHEL quarterly results

Q2 FY27 · Jul–Sep 2026

₹ crore	Q2 FY27	Q2 FY26	Change
Revenue	9,300	7,512	+23.8%
EBITDA	1,026	581	+76.6%
EBITDA margin	11.0%	7.7%	+3.3 pts
Profit before tax	1,071	485	+120.8%
Net profit	821	375	+119.0%
EPS	₹2.36	₹1.08	+118.5%

Every quarter

₹ crore except per share

Tap a line for its trend	Q2 FY27Sep 2026	Q1 FY27Jun 2026	Q4 FY26Mar 2026	Q3 FY26Dec 2025	Q2 FY26Sep 2025	Q1 FY26Jun 2025	Q4 FY25Mar 2025	Q3 FY25Dec 2024	Q2 FY25Sep 2024	Q1 FY25Jun 2024	Q4 FY24Mar 2024	Q3 FY24Dec 2023

Expenses
	9,300	7,698	12,310	8,473	7,512	5,487	8,993	7,277	6,584	5,485	8,260	5,504
	253	214	243	219	175	171	149	108	111	96.9	157	95.8
	9,553	7,912	12,554	8,692	7,686	5,658	9,143	7,385	6,695	5,582	8,417	5,600
	6,958	5,839	8,346	6,059	5,741	4,128	6,979	4,895	4,789	3,725	5,755	3,939
	−1,057	−543	−325	−196	−528	−241	−1,026	−311	−359	152	−235	1.9
	1,652	1,506	1,994	1,531	1,480	1,462	1,539	1,482	1,467	1,435	1,485	1,442
	125	140	198	182	195	181	201	184	201	162	193	190
	83.1	81.9	87.9	78.0	75.5	74.5	85.0	67.9	60.1	59.0	68.4	60.6
	721	391	542	535	237	675	669	907	412	342	527	183
	8,482	7,416	10,843	8,188	7,202	6,280	8,448	7,225	6,571	5,875	7,794	5,817
	1,026	504	1,753	545	581	−537	832	304	275	−169	728	−62.9
	943	422	1,665	467	505	−612	747	236	215	−228	659	−123
Profit
	1,071	496	1,711	504	485	−622	695	160	125	−293	623	−217
	1,071	496	1,711	504	485	−622	695	160	125	−293	623	−217
	−3.1	1.9	1.9	0.6	0.5	0.3	9.2	1.6	9.5	2.9	−29.7	6.4
	271	129	435	129	124	−153	191	42.5	25.7	−70.5	176	−52.6
	268	131	437	129	124	−153	200	44.1	35.3	−67.6	147	−46.1
	18.5	11.5	16.8	16.2	14.4	13.7	9.9	18.3	16.6	14.2	13.6	22.3
	821	377	1,290	390	375	−456	504	135	106	−211	490	−149
	802	365	1,274	374	361	−469	495	116	89.5	−226	476	−171
	−52.2	−52.1	101	−33.7	−33.9	−33.7	−92.0	−23.9	−23.8	−23.6	−46.0	−12.2
	769	325	1,391	357	341	−489	412	111	82.4	−235	444	−161
	821	377	—	390	375	—	504	135	—	−211	490	—
Per share
	₹2.36	₹1.08	₹3.71	₹1.12	₹1.08	−₹1.31	₹1.45	₹0.39	₹0.30	−₹0.61	₹1.41	−₹0.43
	₹2.36	₹1.08	₹3.71	₹1.12	₹1.08	−₹1.31	₹1.45	₹0.39	₹0.30	−₹0.61	₹1.41	−₹0.43
Other comprehensive income — detail
	−52.2	−52.1	101	−33.7	−33.9	−33.7	−92.0	—	—	—	—	—
	−69.8	−69.6	134	−45.1	−45.2	−45.0	−123	−32.0	−31.8	−31.5	−61.5	−16.3
	−17.6	−17.5	33.8	−11.3	−11.4	−11.3	−31.0	—	—	—	—	—
	—	—	—	—	—	—	—	−8.1	−8.0	−7.9	−15.5	−4.1
	769	325	—	357	341	—	412	111	82.4	−235	444	−161
Per share — as-filed variants
	₹2.36	₹1.08	₹3.71	₹1.12	₹1.08	−₹1.31	₹1.45	₹0.39	₹0.30	−₹0.61	₹1.41	−₹0.43
	₹2.36	₹1.08	₹3.71	₹1.12	₹1.08	−₹1.31	₹1.45	₹0.39	₹0.30	−₹0.61	₹1.41	−₹0.43
Derived — gross profit (revenue − materials − purchases − Δ inventories)
	3,399	2,401	4,290	2,611	2,298	1,600	3,040	2,693	2,154	1,607	2,740	1,562
	36.5%	31.2%	34.8%	30.8%	30.6%	29.2%	33.8%	37.0%	32.7%	29.3%	33.2%	28.4%
Adjusted (ex-exceptional items) — derived
	1,071	496	1,711	504	485	−622	695	160	125	−293	623	−217
	821	377	1,290	390	375	−456	504	135	106	−211	490	−149
	₹2.36	₹1.08	₹3.71	₹1.12	₹1.08	−₹1.31	₹1.45	₹0.39	₹0.30	−₹0.61	₹1.41	−₹0.43

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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

BHEL₹405.30

BHEL

Annual Quarterly₹ Crore

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In ₹ Crore except Per Share 3 Months Ending	Q3 FY24 31/12/2023	Q4 FY24 31/03/2024	Q1 FY25 30/06/2024	Q2 FY25 30/09/2024	Q3 FY25 31/12/2024	Q4 FY25 31/03/2025	Q1 FY26 30/06/2025	Q2 FY26 30/09/2025	Q3 FY26 31/12/2025	Q4 FY26 31/03/2026	Q1 FY27 30/06/2026	Q2 FY27 30/09/2026
Revenue from Operations	5,503.8	8,260.3	5,484.9	6,584.1	7,277.1	8,993.4	5,486.9	7,511.8	8,473.1	12,310.4	7,697.7	9,300.4
Other Income	95.8	156.6	96.9	111.3	107.9	149.3	171.2	174.6	218.8	243.1	214.1	252.7
Total Income	5,599.6	8,416.8	5,581.8	6,695.4	7,385.0	9,142.6	5,658.1	7,686.4	8,691.9	12,553.5	7,911.9	9,553.0
Expenses
+ Cost of Materials Consumed	3,939.5	5,755.5	3,725.1	4,788.7	4,894.9	6,978.8	4,128.0	5,741.4	6,058.8	8,346.1	5,839.3	6,958.4
+ Changes in Inventories	1.9	-234.9	152.5	-358.6	-310.7	-1,025.5	-241.4	-527.9	-196.4	-325.5	-542.6	-1,057.0
+ Employee Benefit Expense	1,442.0	1,484.7	1,434.9	1,467.2	1,482.0	1,539.4	1,462.5	1,480.0	1,530.7	1,994.5	1,506.3	1,652.1
+ Finance Costs	189.6	193.3	161.7	201.4	183.8	201.4	181.2	195.2	182.5	197.5	139.9	124.8
+ Depreciation & Amortisation	60.6	68.4	59.0	60.1	67.9	85.0	74.5	75.5	78.0	87.9	81.9	83.1
+ Other Expenses	183.3	527.1	341.8	411.8	906.6	669.1	675.1	237.4	534.7	542.2	390.8	721.0
Total Expenses	5,816.9	7,794.1	5,875.0	6,570.6	7,224.5	8,448.1	6,279.8	7,201.5	8,188.3	10,842.7	7,415.6	8,482.4
EBITDA	-62.9	727.9	-169.4	275.0	304.2	831.7	-537.1	580.9	545.3	1,753.1	503.9	1,025.8
EBIT	-123.5	659.5	-228.3	214.9	236.4	746.7	-611.7	505.5	467.3	1,665.2	422.0	942.7
Profit
PBT before Exceptional Items	-217.2	622.7	-293.2	124.8	160.5	694.5	-621.7	484.9	503.6	1,710.8	496.2	1,070.6
Pretax Income	-217.2	622.7	-293.2	124.8	160.5	694.5	-621.7	484.9	503.6	1,710.8	496.2	1,070.6
+ Current Tax	6.4	-29.7	2.9	9.5	1.6	9.2	0.3	0.5	0.6	1.9	1.9	-3.1
+ Deferred Tax	-52.6	176.4	-70.5	25.7	42.5	190.8	-152.9	123.8	128.8	435.3	129.1	271.2
Tax Expense	-46.1	146.7	-67.6	35.3	44.1	200.0	-152.5	124.3	129.4	437.1	131.0	268.1
+ Share of Associates & JVs	22.3	13.6	14.2	16.6	18.3	9.9	13.7	14.4	16.2	16.8	11.5	18.5
Net Income	-148.8	489.6	-211.4	106.2	134.7	504.5	-455.5	374.9	390.4	1,290.5	376.7	820.9
+ Net Income — Continuing Ops	-171.1	476.0	-225.6	89.5	116.4	494.5	-469.2	360.5	374.2	1,273.7	365.3	802.5
+ Other Comprehensive Income	-12.2	-46.0	-23.6	-23.8	-23.9	-92.0	-33.7	-33.9	-33.7	100.6	-52.1	-52.2
Total Comprehensive Income	-161.0	443.6	-235.0	82.4	110.8	412.4	-489.2	341.0	356.7	1,391.1	324.6	768.7
Net Income to Common	—	489.6	-211.4	—	134.7	504.5	—	374.9	390.4	—	376.7	820.9
Per Share
Basic EPS	-0.43	1.41	-0.61	0.30	0.39	1.45	-1.31	1.08	1.12	3.71	1.08	2.36
Diluted EPS	-0.43	1.41	-0.61	0.30	0.39	1.45	-1.31	1.08	1.12	3.71	1.08	2.36
Other Comprehensive Income — detail
+ Other Comprehensive Income	—	—	—	—	—	-92.0	-33.7	-33.9	-33.7	100.6	-52.1	-52.2
+ Items NOT to be Reclassified to P&L	-16.3	-61.5	-31.5	-31.8	-32.0	-123.0	-45.0	-45.2	-45.1	134.5	-69.6	-69.8
+ Tax on Items NOT to be Reclassified	—	—	—	—	—	-31.0	-11.3	-11.4	-11.3	33.8	-17.5	-17.6
+ Tax on Items NOT to be Reclassified — alt tag	-4.1	-15.5	-7.9	-8.0	-8.1	—	—	—	—	—	—	—
Comprehensive Income — Owners of Parent	-161.0	443.6	-235.0	82.4	110.8	412.4	—	341.0	356.7	—	324.6	768.7
Per Share — as-filed variants
Basic EPS — Continuing Operations	-0.43	1.41	-0.61	0.30	0.39	1.45	-1.31	1.08	1.12	3.71	1.08	2.36
Diluted EPS — Continuing Operations	-0.43	1.41	-0.61	0.30	0.39	1.45	-1.31	1.08	1.12	3.71	1.08	2.36
Derived — Gross Profit (Revenue − Materials − Purchases − Δ Inventories)
Gross Profit	1,562.4	2,739.7	1,607.4	2,154.0	2,692.9	3,040.1	1,600.4	2,298.3	2,610.7	4,289.7	2,401.0	3,398.9
Gross Margin %	28.39	33.17	29.30	32.71	37.01	33.80	29.17	30.60	30.81	34.85	31.19	36.55
Adjusted (ex-Exceptional Items) — derived
Pretax Income (Adjusted, as filed)	-217.2	622.7	-293.2	124.8	160.5	694.5	-621.7	484.9	503.6	1,710.8	496.2	1,070.6
Net Income Adj (tax-effected)	-148.8	489.6	-211.4	106.2	134.7	504.5	-455.5	374.9	390.4	1,290.5	376.7	820.9
EPS Adj	-0.43	1.41	-0.61	0.30	0.39	1.45	-1.31	1.08	1.12	3.71	1.08	2.36
Other Filed Concepts — mapped but not yet placed in the schedule
Face Value	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00
Paid Up Equity Capital	696.4	696.4	696.4	696.4	696.4	696.4	696.4	696.4	696.4	696.4	696.4	696.4

As filed, sign as filed — read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown, so depth follows the filer: pre-Ind-AS, insurance and NBFC blocks stay hidden unless they were actually reported. Alternate tags for the same idea (e.g. two spellings of a deferred-tax element) are kept as separate lines rather than merged, because merging them would be a guess. Ratios, per-share figures and counts render as raw numbers, not ₹ Crore. No consensus estimates → no Est columns. Click any row to chart it.

« ‹ › »Latest: Q2 FY27 · ConsolidatedFA Financial Analysis · alphave

Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.

BHEL Q2 FY27 results (July–September 2026)

Filed with NSE on Wednesday, 14 October 2026 at 1:38 pm IST

Bharat Heavy Electricals (NSE: BHEL) reported its Q2 FY27 results (July–September 2026) on Wednesday, 14 October 2026 at 1:38 pm IST. Consolidated net profit was ₹821 crore, up 119.0% from ₹375 crore in Q2 FY26 and up 117.9% from ₹377 crore in Q1 FY27. Revenue from operations was ₹9,300 crore, up 23.8% year on year and up 20.8% from the previous quarter.

Q2 FY26 results (a year earlier): 29 October 2025
Q3 FY27 results due by: 14 February 2027

Q2 FY27 at a glance · consolidated

Net profit: ₹821 Cr+119.0% vs Q2 FY26+117.9% vs Q1 FY27
Revenue from operations: ₹9,300 Cr+23.8% vs Q2 FY26+20.8% vs Q1 FY27
Operating margin (EBIT): 10.1%+3.4 pts vs Q2 FY26+4.7 pts vs Q1 FY27EBIT ₹943 Cr
EBITDA: ₹1,026 Cr+76.6% vs Q2 FY26+103.6% vs Q1 FY27margin 11.0%
Earnings per share (basic): ₹2.36+118.5% vs Q2 FY26+118.5% vs Q1 FY27
Net profit margin: 8.8%+3.8 pts vs Q2 FY26+3.9 pts vs Q1 FY27

Questions

What was BHEL's net profit in Q2 FY27?

Consolidated net profit was ₹821 crore, up 119.0% from ₹375 crore in Q2 FY26 and up 117.9% from ₹377 crore in Q1 FY27.

What is BHEL's net profit margin?

BHEL's net profit margin was 8.8% in Q2 FY27 (net profit as a share of revenue from operations), against 5.0% in Q2 FY26 (up 3.8 percentage points).

When did BHEL announce its Q2 FY27 results?

On Wednesday, 14 October 2026 at 1:38 pm IST, in its results filing to the stock exchanges. A year earlier it reported Q2 FY26 on 29 October 2025.

What was BHEL's revenue in Q2 FY27?

Revenue from operations was ₹9,300 crore, up 23.8% year on year and up 20.8% from the previous quarter.

What was BHEL's operating margin in Q2 FY27?

Operating profit (EBIT — revenue less operating expenses, before finance costs and other income) was ₹943 crore, a margin of 10.1%, against 5.5% in Q1 FY27 and 6.7% in Q2 FY26. EBITDA was ₹1,026 crore, 11.0% of revenue.

What was BHEL's EPS in Q2 FY27?

Basic earnings per share were ₹2.36, against ₹1.08 in Q2 FY26.

How were BHEL's Q2 FY27 results?

Both grew from a year earlier: net profit was up 119.0% at ₹821 crore and revenue was up 23.8% at ₹9,300 crore. The operating margin was 10.1%, up 3.4 percentage points from 6.7% a year earlier. Against Q1 FY27, net profit was up 117.9% and revenue up 20.8%.

What was BHEL's net profit in the first half of FY27?

Consolidated net profit for the first half of FY27 (April–September 2026) was ₹1,198 crore, against a loss of ₹80.6 crore in the same months a year earlier. Revenue from operations was ₹16,998 crore, up 30.8%.

When will BHEL announce its Q3 FY27 results?

Q3 FY27 covers October–December 2026. Listed companies must publish quarterly results within 45 days of the quarter's end (SEBI listing rules, Regulation 33), so the results are due by 14 February 2027. The company tells the exchanges the date of the board meeting at least two working days before it.

How has BHEL's profit changed over the last four quarters?

Net profit by quarter: ₹390 crore in Q3 FY26, ₹1,290 crore in Q4 FY26, ₹377 crore in Q1 FY27 and ₹821 crore in Q2 FY27. That is ₹2,879 crore over the four quarters, up 415.4% from ₹559 crore in the four quarters before. Revenue from operations: ₹8,473 crore, ₹12,310 crore, ₹7,698 crore and ₹9,300 crore.

Where do these BHEL figures come from?

From Bharat Heavy Electricals' own consolidated results filings to NSE, in ₹ crore as filed (Q2 FY27 on 14 October 2026). Growth compares the same consolidated figures a year and a quarter earlier.

Consolidated figures from the company's filings to NSE. Every company's results dates this season are in the Q2 FY27 results calendar, part of Alpha Plus.