Bharat Heavy Electricals Limited — Quarter & year ended 31st March 2026
| SL. NO. | PARTICULARS | 03 Months Ended (Note5) | 03 Months Ended (Unaudited) | 03 Months Ended (Note5) | Year Ended (Audited)# | Year Ended (Audited) |
|---|---|---|---|---|---|---|
| 31.03.2026 | 31.12.2025 | 31.03.2025 | 31.03.2026 | 31.03.2025 | ||
| 1 | Income | |||||
| a | Revenue from Operations | 12310.37 | 8473.10 | 8993.37 | 33782.18 | 28339.48 |
| b | Other Income | 252.12 | 227.08 | 158.79 | 846.39 | 503.39 |
| Total Income (a+b) | 12562.49 | 8700.18 | 9152.16 | 34628.57 | 28842.87 | |
| 2 | Expenses | |||||
| a | Cost of materials & services | 8346.12 | 6058.80 | 6978.80 | 24274.28 | 20387.47 |
| b | Changes in inventories of finished goods, work-in-progress and scrap | (325.48) | (196.40) | (1025.53) | (1291.19) | (1542.32) |
| c | Employee benefits expense | 1994.48 | 1530.71 | 1539.36 | 6467.62 | 5923.42 |
| d | Depreciation and amortisation expense | 87.90 | 77.99 | 85.02 | 315.87 | 271.96 |
| e | Finance costs | 197.52 | 182.47 | 201.43 | 756.41 | 748.33 |
| f | Other expenses | 542.15 | 534.69 | 669.06 | 1989.28 | 2329.34 |
| Total Expenses | 10842.69 | 8188.26 | 8448.14 | 32512.27 | 28118.20 | |
| 3 | Profit/(Loss) before exceptional items and tax (1-2) | 1719.80 | 511.92 | 704.02 | 2116.30 | 724.67 |
| 4 | Exceptional Items | – | – | – | – | – |
| 5 | Profit/(Loss) before tax (3 + 4) | 1719.80 | 511.92 | 704.02 | 2116.30 | 724.67 |
| 6 | Tax expense | |||||
| a | Current Tax | 1.87 | 0.59 | 9.15 | 3.31 | 23.16 |
| b | Deferred tax | 435.25 | 128.84 | 190.82 | 535.04 | 188.54 |
| 7 | Net Profit/ (Loss) for the period (5-6) | 1282.68 | 382.49 | 504.05 | 1577.95 | 512.97 |
| 8 | Other Comprehensive Income/(Expense) (net of tax) | 100.64 | (33.67) | (92.00) | (0.37) | (163.50) |
| 9 | Total Comprehensive Income after tax for the period (7+8) | 1383.32 | 348.82 | 412.05 | 1577.58 | 349.47 |
| 10 | Paid-up equity share capital (Face Value Rs 2 per share) | 696.41 | 696.41 | 696.41 | 696.41 | 696.41 |
| 11 | Other Equity | 25820.08 | 24436.76 | 24416.60 | 25820.08 | 24416.60 |
| 12 | Basic & Diluted Earnings Per Share | 3.68 (not annualised) | 1.10 (not annualised) | 1.45 (not annualised) | 4.53 | 1.47 |
| SL. NO. | PARTICULARS | 03 Months Ended (Note5) | 03 Months Ended (Unaudited) | 03 Months Ended (Note5) | Year Ended (Audited)# | Year Ended (Audited) |
|---|---|---|---|---|---|---|
| 31.03.2026 | 31.12.2025 | 31.03.2025 | 31.03.2026 | 31.03.2025 | ||
| 1 | Segment Revenue from Operations | |||||
| A | Power | 9509.85 | 6322.36 | 6192.41 | 25406.71 | 20937.25 |
| B | Industry | 2800.52 | 2150.74 | 2800.96 | 8375.47 | 7402.23 |
| Total | 12310.37 | 8473.10 | 8993.37 | 33782.18 | 28339.48 | |
| Inter segmental revenue from operations | 12310.37 | 8473.10 | 8993.37 | 33782.18 | 28339.48 | |
| Revenue from Operations | 12310.37 | 8473.10 | 8993.37 | 33782.18 | 28339.48 | |
| 2 | Segment Results (Profit/(Loss) before Tax & Finance Cost) | |||||
| A | Power | 1869.90 | 497.58 | 308.11 | 2451.24 | 1216.02 |
| B | Industry | 673.03 | 424.16 | 877.32 | 1684.07 | 1262.45 |
| Total | 2542.93 | 921.74 | 1185.43 | 4135.31 | 2478.47 | |
| Less: Finance Cost | 197.52 | 182.47 | 201.43 | 756.41 | 748.33 | |
| Other unallocable expenditure (net of income) | 625.61 | 227.35 | 279.98 | 1262.60 | 1005.47 | |
| Total Profit before Tax | 1719.80 | 511.92 | 704.02 | 2116.30 | 724.67 | |
| 3 | Segment Assets | |||||
| A | Power | 49208.93 | 50247.68 | 45455.29 | 49208.93 | 45455.29 |
| B | Industry | 10542.49 | 9870.01 | 9240.71 | 10542.49 | 9240.71 |
| C | Unallocated | 168 |
| Particulars | Standalone As at 31.03.2026 (Audited)# | Standalone As at 31.03.2025 (Audited) |
|---|---|---|
| I) ASSETS | ||
| 1 Non-Current Assets | ||
| a Property, plant and equipment | 2933.28 | 2862.46 |
| b Capital work-in-progress | 399.20 | 161.70 |
| c Investment Property | 0.52 | 0.45 |
| d Intangible assets | 64.73 | 84.27 |
| e Intangible assets under development | 95.85 | 33.73 |
| f Financial Assets | ||
| i) Investments | 676.58 | 671.71 |
| ii) Trade Receivables | 2426.93 | 3046.58 |
| iii) Others financial assets | 258.78 | 715.95 |
| g Deferred tax assets (net of liabilities) | 3532.80 | 4067.72 |
| h Other non-current assets | 14716.11 | 14074.98 |
| Sub-Total Non Current Assets | 25104.78 | 25719.55 |
| 2 Current Assets | ||
| a Inventories | 13334.58 | 9869.49 |
| b Financial Assets | ||
| i) Trade Receivables | 6796.27 | 5884.35 |
| ii) Cash & Cash Equivalents | 1435.45 | 439.21 |
| iii) Bank Balances other than Cash & Cash Equivalents | 10431.17 | 7173.20 |
| iv) Other financial assets | 332.13 | 300.76 |
| c Current Tax Assets (Net) | 202.72 | 137.37 |
| d Other current assets | 18923.03 | 18955.39 |
| Sub-Total Current Assets | 51455.35 | 42759.77 |
| TOTAL – ASSETS | 76560.13 | 68479.32 |
| II) EQUITY AND LIABILITIES | ||
| 1 Equity | ||
| a Equity share capital | 696.41 | 696.41 |
| b Other Equity | 25820.08 | 24416.60 |
| Sub-Total Equity | 26516.49 | 25113.01 |
| LIABILITIES | ||
| 2 Non-Current Liabilities | ||
| a Financial Liabilities | ||
| i) Lease Liabilities | 168.18 | 162.39 |
| ii) Trade Payable | ||
| a) Total outstanding dues of micro enterprises and small enterprises | – | – |
| b) Total outstanding dues of creditors other than micro enterprises and small enterprises | 1343.44 | 2170.79 |
| iii) Other financial liabilities | 410.96 | 422.79 |
| b Provisions | 2354.62 | 2585.56 |
| c Other non-current liabilities | 13459.63 | 9793.90 |
| Sub-Total Non Current Liabilities | 17736.83 | 15135.43 |
| 3 Current Liabilities | ||
| a Financial liabilities | ||
| i) Borrowings | 7950.00 | 8795.00 |
| ia) Lease Liabilities | 68.77 | 57.21 |
| ii) Trade Payable | ||
| a) Total outstanding dues of micro enterprises and small enterprises | 1932.11 | 1430.24 |
| b) Total outstanding dues of creditors other than micro enterprises and small enterprises | 8559.49 | 8110.68 |
| iii) Other financial liabilities | 1317.93 | 1245.81 |
| b Provisions | 1918.91 | 1815.31 |
| c Other current liabilities | 10559.60 | 6776.63 |
| Sub-Total Current Liabilities | 32306.81 | 28230.88 |
| TOTAL – EQUITY AND LIABILITIES | 76560.13 | 68479.32 |
| Particulars | Standalone | |
|---|---|---|
| Year Ended | ||
| 31.03.2026 (Audited)# | 31.03.2025 (Audited) | |
| A. CASH FLOW FROM OPERATING ACTIVITIES: | ||
| Profit / (Loss) before tax | 2116.30 | 724.67 |
| Adjustments for: | ||
| – Provision and write off | (211.00) | (879.13) |
| – Depreciation and amortisation | 315.87 | 271.96 |
| – Finance cost (including unwinding of interest) | 756.41 | 748.33 |
| – Interest & dividend income | (778.01) | (440.71) |
| – Unrealised Foreign Exchange loss/(gain) | (433.47) | (16.97) |
| – Amortisation of Government Grant | (9.66) | (8.99) |
| – Others include profit on sale of investment & PPE and Impairment of Investment | (13.09) | (18.03) |
| Cash generated / (used) in operations before working capital changes | 1743.34 | 381.13 |
| Adjustment for changes in working capital: | ||
| – Trade Receivables | (538.60) | (1002.80) |
| – Contract Assets | 687.82 | (1960.76) |
| – Inventories | (3401.50) | (2632.53) |
| – Loans, advances & other assets | (197.49) | (1448.04) |
| Sub total | (3449.77) | (7044.13) |
| – Trade payable | 182.25 | 846.94 |
| – Advances from customers, deposits and others | 7351.17 | 7927.25 |
| Sub total | 7533.42 | 8774.19 |
| Net cash (used in) / from working capital | 4083.65 | 1730.06 |
| Cash generated /(used) in operations | 5826.99 | 2111.18 |
| – Income tax paid | (209.80) | (154.41) |
| – Refund of income tax | 220.19 | 235.70 |
| Net cash (used in)/ from operating activities | 5837.38 | 2192.47 |
| B. CASH FLOW FROM INVESTING ACTIVITIES: | ||
| Redemption / maturity of bank deposits (having original maturity of more than 3 months) | (3148.14) | (2878.41) |
| Interest received | 649.38 | 371.74 |
| Proceeds from sale of investment | – | 5.76 |
| Dividend received from joint ventures | 38.08 | 38.08 |
| Sale of property, plant and equipment & Intangible assets | 13.01 | 13.46 |
| Purchase of property, plant and equipment & Intangible assets (Net) | (589.04) | (304.37) |
| Investment in joint ventures | (4.87) | |
| Income received from mutual funds | 0.08 | |
| Receipt of Govt Grant (Capital) | 6.09 | 22.25 |
| Net cash (used in) / from investing activities | (3035.41) | (2731.49) |
| C. CASH FLOW FROM FINANCING ACTIVITIES: | ||
| Proceeds from short term borrowings | (845.00) | (13.00) |
| Proceeds / (repayment) of lease obligation (Principal) | (59.19) | (48.12) |
| Proceeds / (repayment) of lease obligation (Interest) | (17.76) | (7.24) |
| Dividend paid | (174.64) | (87.44) |
| Interest paid | (709.14) | (701.01) |
| Net cash (used in) / from financing activities | (1805.73) | (856.81) |
| D. Net increase/(decrease) in cash and cash equivalents | 996.24 | (1395.83) |
| Opening balance of cash and cash equivalents | 439.21 | 1835.04 |
| Closing balance of cash and cash equivalents | 1435.45 | 439.21 |
| SL. NO. | PARTICULARS | 03 Months Ended 31.03.2026 (Note5) | 03 Months Ended 31.12.2025 (Unaudited) | 03 Months Ended 31.03.2025 (Note5) | Year Ended 31.03.2026 (Audited)# | Year Ended 31.03.2025 (Audited) |
|---|---|---|---|---|---|---|
| 1 | Income | |||||
| a | Revenue from Operations | 12310.37 | 8473.10 | 8993.37 | 33782.18 | 28339.48 |
| b | Other Income | 243.13 | 218.75 | 149.27 | 807.65 | 465.31 |
| Total Income (a+b) | 12553.50 | 8691.85 | 9142.64 | 34589.83 | 28804.79 | |
| 2 | Expenses | |||||
| a | Cost of materials & services | 8346.12 | 6058.80 | 6978.80 | 24274.28 | 20387.47 |
| b | Changes in inventories of finished goods, work-in-progress and scrap | (325.48) |