BHARAT HEAVY ELECTRICALS LIMITED Financials Bharat Heavy Electricals Limited NSE India S.E.
Equities
BHEL
INE257A01026
Heavy Electrical Equipment
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 278.8 INR | +2.67% |
|
+9.55% | +44.07% |
| Apr. 25 | Bharat Heavy Electricals Limited Announces CFO Changes | CI |
| Apr. 25 | Bharat Heavy Electricals Limited Announces Superannuation of Shri Akhil Mehrotra as Executive Director (PS-SSBG), Noida | CI |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 260,807 | 72,427 | 169,751 | 171,840 | 244,197 | 970,799 | - | - |
| Enterprise Value (EV) 1 | 209,678 | 57,090 | 149,808 | 145,989 | 229,177 | 931,377 | 947,196 | 931,818 |
| P/E ratio | 22.4 x | -4.92 x | -6.25 x | 41.8 x | 54.4 x | 2,644 x | 79.1 x | 33.9 x |
| Yield | 2.67% | - | - | 0.81% | 0.57% | 0.21% | 0.32% | 0.63% |
| Capitalization / Revenue | 0.86 x | 0.34 x | 0.98 x | 0.81 x | 1.05 x | 3.83 x | 3.03 x | 2.41 x |
| EV / Revenue | 0.69 x | 0.27 x | 0.87 x | 0.69 x | 0.98 x | 3.67 x | 2.95 x | 2.31 x |
| EV / EBITDA | 9.79 x | -24.5 x | -4.78 x | 19.8 x | 32 x | 157 x | 53.1 x | 24.3 x |
| EV / FCF | -4.87 x | -1.72 x | 48.1 x | 29.7 x | 41.4 x | 19.3 x | 254 x | 74.7 x |
| FCF Yield | -20.5% | -58.2% | 2.08% | 3.36% | 2.41% | 5.19% | 0.39% | 1.34% |
| Price to Book | 0.83 x | 0.25 x | 0.64 x | 0.64 x | 0.9 x | 3.6 x | 3.52 x | 3.29 x |
| Nbr of stocks (in thousands) | 3,482,063 | 3,482,063 | 3,482,063 | 3,482,063 | 3,482,063 | 3,482,063 | - | - |
| Reference price 2 | 74.90 | 20.80 | 48.75 | 49.35 | 70.13 | 278.8 | 278.8 | 278.8 |
| Announcement Date | 5/27/19 | 6/13/20 | 6/11/21 | 5/21/22 | 5/26/23 | - | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 303,490 | 214,861 | 173,084 | 212,111 | 233,649 | 253,612 | 320,825 | 402,703 |
| EBITDA 1 | 21,420 | -2,329 | -31,353 | 7,379 | 7,166 | 5,943 | 17,831 | 38,422 |
| EBIT 1 | 16,672 | -7,357 | -36,084 | 4,239 | 4,562 | 6,030 | 15,501 | 34,923 |
| Operating Margin | 5.49% | -3.42% | -20.85% | 2% | 1.95% | 2.38% | 4.83% | 8.67% |
| Earnings before Tax (EBT) 1 | 20,579 | -6,621 | -36,116 | 4,370 | 4,496 | 1,921 | 15,458 | 38,120 |
| Net income 1 | 12,154 | -14,730 | -27,171 | 4,102 | 4,476 | -441.7 | 9,548 | 30,188 |
| Net margin | 4% | -6.86% | -15.7% | 1.93% | 1.92% | -0.17% | 2.98% | 7.5% |
| EPS 2 | 3.350 | -4.230 | -7.800 | 1.180 | 1.290 | 0.1054 | 3.524 | 8.230 |
| Free Cash Flow 1 | -43,065 | -33,255 | 3,113 | 4,909 | 5,531 | 48,323 | 3,722 | 12,476 |
| FCF margin | -14.19% | -15.48% | 1.8% | 2.31% | 2.37% | 19.05% | 1.16% | 3.1% |
| FCF Conversion (EBITDA) | - | - | - | 66.52% | 77.19% | 813.07% | 20.87% | 32.47% |
| FCF Conversion (Net income) | - | - | - | 119.66% | 123.59% | - | 38.98% | 41.33% |
| Dividend per Share 2 | 2.000 | - | - | 0.4000 | 0.4000 | 0.5778 | 0.9024 | 1.766 |
| Announcement Date | 5/27/19 | 6/13/20 | 6/11/21 | 5/21/22 | 5/26/23 | - | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 107,574 | 44,514 | 71,710 | 29,013 | 51,122 | 80,135 | 51,359 | 80,617 | 46,720 | 52,030 | 52,634 | 82,270 | 50,034 | 58,320 | 101,287 | 58,682 | 94,091 |
| EBITDA 1 | - | -1,796 | -12,643 | -4,740 | -291.8 | -5,032 | 892.1 | 11,519 | -1,699 | -2,439 | 1,446 | 9,862 | -1,199 | -283.7 | -7,518 | 2,018 | 11,552 |
| EBIT 1 | - | -2,924 | -13,909 | -5,852 | -719.8 | - | 150.9 | 10,660 | -2,366 | -3,025 | 820.9 | 9,136 | -1,799 | -2,308 | - | -1,516 | 7,404 |
| Operating Margin | - | -6.57% | -19.4% | -20.17% | -1.41% | - | 0.29% | 13.22% | -5.06% | -5.81% | 1.56% | 11.1% | -3.6% | -3.96% | - | -2.58% | 7.87% |
| Earnings before Tax (EBT) 1 | - | -2,929 | -13,849 | -5,938 | -876.1 | -6,815 | 202.4 | 10,982 | -2,547 | -2,010 | 414.3 | 8,641 | -4,699 | -1,057 | -9,012 | -1,296 | 9,119 |
| Net income 1 | -976.7 | -2,310 | -10,329 | -4,454 | -674.9 | -5,129 | 142.6 | 9,089 | -1,918 | 100 | 310 | 5,981 | -3,517 | -555.1 | -5,851 | 1,156 | 7,809 |
| Net margin | -0.91% | -5.19% | -14.4% | -15.35% | -1.32% | -6.4% | 0.28% | 11.27% | -4.11% | 0.19% | 0.59% | 7.27% | -7.03% | -0.95% | -5.78% | 1.97% | 8.3% |
| EPS 2 | - | -0.6600 | -2.970 | -1.280 | -0.1900 | - | 0.0400 | 2.610 | -0.5500 | 0.0300 | 0.0900 | 1.720 | -1.010 | -0.6500 | - | -0.5000 | 1.940 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/13/19 | 2/6/21 | 6/11/21 | 7/30/21 | 11/9/21 | 11/9/21 | 1/27/22 | 5/21/22 | 8/4/22 | 11/11/22 | 2/10/23 | 5/26/23 | 8/4/23 | - | 11/8/23 | - | - |
1INR in Million2INR
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 51,128 | 15,337 | 19,942 | 25,851 | 15,021 | 39,422 | 23,604 | 38,981 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | -43,065 | -33,255 | 3,113 | 4,909 | 5,531 | 48,323 | 3,722 | 12,476 |
| ROE (net income / shareholders' equity) | 3.8% | -4.86% | -9.76% | 1.53% | 1.65% | 0.25% | 4.29% | 8.98% |
| ROA (Net income/ Total Assets) | 1.9% | -2.34% | -4.69% | 0.73% | 0.77% | 1.5% | 2.4% | 2.8% |
| Assets 1 | 639,679 | 628,507 | 579,681 | 562,050 | 582,558 | -29,448 | 397,823 | 1,078,156 |
| Book Value Per Share 2 | 90.20 | 83.80 | 76.10 | 77.60 | 78.30 | 77.50 | 79.20 | 84.80 |
| Cash Flow per Share 2 | -10.70 | -8.280 | 1.610 | 1.900 | -2.130 | 17.90 | 10.70 | 8.110 |
| Capex 1 | 4,250 | 4,432 | 2,504 | 1,694 | 1,884 | 3,037 | 3,631 | 3,568 |
| Capex / Sales | 1.4% | 2.06% | 1.45% | 0.8% | 0.81% | 1.2% | 1.13% | 0.89% |
| Announcement Date | 5/27/19 | 6/13/20 | 6/11/21 | 5/21/22 | 5/26/23 | - | - | - |
1INR in Million2INR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +20.54% | 6.56B | |
| +26.32% | 2.04B | |
| -3.88% | 1.04B | |
| -17.90% | 437M | |
| -27.30% | 253M | |
| -30.39% | 169M | |
| -13.41% | 94.2M |
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