BHEL share price in focus: PSU bags captive power plant order worth up to ₹1,500 crore from SAIL

The letter of acceptance was received for a captive power plant, which is part of a 4.08 MTPA crude steel expansion project of SAIL's IISCO Steel Plant at Burnpur, BHEL said in a regulatory filing.

The size of the order is in the range of ₹1,200 crore to ₹1,500 crore, excluding GST (goods and services tax), it said, adding that the commissioning of the project is expected in 39 months from the date of awarding the contract.

About BHEL

Bharat Heavy Electricals Ltd (BHEL) is one of the largest engineering and manufacturing companies in India. The state-owned company’s business operations span across several core sectors of the economy, like transportation, defence, and power.

The public sector undertaking (PSU) designs, manufactures, and supplies world-class equipment related to power generation, transmission, transportation, defence, aerospace, and the oil and gas sectors.

The company has also forayed into emerging sectors such as battery energy storage systems and electric vehicle chargers in recent years. It is one of the few companies in the world with the capability to design and manufacture equipment for the entire range of power plants – nuclear, hydro, thermal, and gas.

BHEL was incorporated on November 13, 1964. It later came into existence in its present form on January 1, 1974, after a merger with the HE (India) Ltd plant at Bhopal, the Transformer Plant in Jhansi, and the Central Foundry Forge Plant in Haridwar.

After the merger, BHEL reached a turnover level of ₹230 crore by 1973-74. In 1991, BHEL became a public company.

BHEL's business operations

BHEL has 16 manufacturing facilities across the country in Bhopal, Bengaluru, Goindwal, Haridwar, Hyderabad, Jagdishpur, Jhansi, Rudrapur, Ranipet, Tiruchirappalli, Thirumayam, and Visakhapatnam, along with repair units in Mumbai and Varanasi.

BHEL’s international footprint spans 89 countries. These include Bangladesh, Afghanistan, Bhutan, and Nepal, along with Indonesia, Oman, Iraq, Sudan, the United States, and New Zealand.

BHEL Q3 FY26 Earnings

BHEL posted a three-fold jump in consolidated net profit to ₹390.40 crore for the December quarter (Q3 FY26), mainly due to increased revenues from key sectors.

The company had clocked a net profit of ₹134.70 crore in the October-December period of the preceding 2024-25 fiscal year, as per an exchange filing.

BHEL's total income rose 18% to ₹8,691.85 crore during the third quarter from ₹7,385 crore seen in the year-ago period.

From the power segment, the company earned a revenue of ₹6,322.36 crore compared to ₹5,588.45 crore a year ago.

BHEL achieved a revenue of ₹2,150.74 crore in October-December, up from ₹1,688.64 crore in the year-ago period.

BHEL share price trend

Data shows that the stock has rallied 21% over the past six months. However, so far in 2026, BHEL's shares have fallen around 10%.