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BHEL Order Surge Fuels Industrial Growth Despite Overall Dip
20 Apr
Summary
- BHEL secured a ₹8,200 crore order from Bharat Coal Gasification and Chemicals Ltd.
- Total order inflows for BHEL decreased by 19% year-on-year to ₹75,000 crore.
- The industrial segment saw a significant 45% growth in orders.
Bharat Heavy Electricals Ltd. (BHEL) reported its business update for the full financial year ending April 20, 2026. The company's total order inflows amounted to ₹75,000 crore, marking a 19% decrease from the ₹92,535 crore received in the prior year.
However, BHEL's industrial segment demonstrated strong performance, with order inflows growing by 45% year-on-year to ₹16,000 crore. This growth was primarily fueled by a substantial order worth ₹8,200 crore from Bharat Coal Gasification and Chemicals Ltd.
In contrast, order inflows for the power sector saw a decline of 27.5% from the previous year, totaling ₹59,000 crore. Analysts like Axis Capital maintain a 'sell' rating on BHEL shares, citing that recent stock price increases are not aligned with the company's fundamentals, despite robust execution in the fourth quarter.
The stock has already seen a 30% increase in April 2026, making it the best performing month since November 2023. Currently, 20 analysts cover BHEL, with divided opinions among 'buy', 'sell', and 'hold' ratings.
