Bharat Heavy Electricals Share PriceBharat Heavy Electricals

₹124.5
0.9 (0.73%)
As on 21 September, 2023 | 15:17 BSE: 500103 NSE: BHELISIN: INE257A01026

Bharat Heavy Electricals Performance

Day Range

  • Low 122.15
  • High 127
124.5

52 Week Range

  • Low 54.75
  • High 148.9
124.5
  • Open Price123
  • Previous Close123.6
  • Volume31759058

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Bharat Heavy Electricals Share Price

  • Over 1 Month 27.04%
  • Over 3 Month 41.56%
  • Over 6 Month 67.68%
  • Over 1 Year 107.15%

Bharat Heavy Electricals Key Statistics

P/E Ratio 134.8
PEG Ratio -2.5
Market Cap Cr 43,352
Price to Book Ratio 1.6
EPS 1.2
Dividend 0.3
Relative Strength Index 52.1
Money Flow Index 63.91
MACD Signal 7.84
Average True Range 6.34

Bharat Heavy Electricals Investment Rating

  • Master Rating:
  • Bharat Heavy Electricals Ltd has an operating revenue of Rs. 23,696.37 Cr. on a trailing 12-month basis. An annual revenue growth of 11% is good, Pre-tax margin of 2% needs improvement, ROE of 1% is fair but needs improvement. The company is debt free and has a strong balance sheet enabling it to report stable earnings growth across business cycles. The stock from a technical standpoint is comfortably placed above its key moving averages, around 12% and 42% from 50DMA and 200DMA. From an O'Neil Methodology perspective, the stock has an EPS Rank of 10 which is a POOR score indicating inconsistency in earnings, a RS Rating of 86 which is GOOD indicating the outperformance as compared to other stocks, Buyer Demand at A which is evident from recent demand for the stock, Group Rank of 82 indicates it belongs to a poor industry group of Machinery-Gen Industrial and a Master Score of C is fair but needs to improve. Institutional holding has declined in the last reported quarter is a negative sign. Overall, the stock is lagging behind in earnings parameter, but excellent technical strength makes it a stock to examine in more detail.

EPS Strength

Price Strength

Buyer Demand

Group Rank

Bharat Heavy Electricals Financials
IndicatorJun 2023Mar 2023Dec 2022Sep 2022Jun 2022Mar 2022
Oper Rev Qtr Cr 5,0038,2275,2635,2034,6728,062
Operating Expenses Qtr Cr 5,3687,2415,1195,4464,8426,910
Operating Profit Qtr Cr -364986144-244-1701,152
Depreciation Qtr Cr 607362596786
Interest Qtr Cr 1681611391239896
Tax Qtr Cr -11826610-212-63189
Net Profit Qtr Cr -3525983110-192909
IndicatorMar 2023Mar 2022
Total Revenue Annual Cr 23,88021,579
Operating Expenses Annual Cr 22,64820,473
Operating Profit Annual in Cr 717738
Depreciation Cr 260314
Interest Annual Cr 521355
Tax Annual Cr 227
Net Profit Annual Cr 448410
IndicatorMar 2023Mar 2022
Cash from Operating Activity Annual Cr -742660
Cash from Investing Activity Annual Cr 1,480-1,125
Cash from Financing Annual Activity Cr 89-330
Net Cash Flow Annual Cr 828-795
IndicatorMar 2023Mar 2022
Total ShareHolders Funds Annual Cr 27,26226,971
Fixed Assets Annual Cr 2,8302,829
Total Non Current Assets Annual Cr 29,72228,846
Total Current Assets Annual Cr 30,08227,862
Total Assets Annual Cr 59,80456,708
IndicatorMar 2023Mar 2022
Book Value Per Share Annual Rs 7877
ROE Annual % 22
ROCE Annual % 32
Total Debt to Total Equity Annual --
EBDIT Annual Margin % 55
IndicatorJun 2023Mar 2023Dec 2022Sep 2022Jun 2022Mar 2022
Oper Rev Qtr Cr 5,0038,2275,2635,2034,6728,062
Operating Expenses Qtr Cr 5,3687,2415,1195,4464,8426,910
Operating Profit Qtr Cr -364986144-244-1701,152
Depreciation Qtr Cr 607362596786
Interest Qtr Cr 1681611391239896
Tax Qtr Cr -11826610-212-63189
Net Profit Qtr Cr -3446114212-188912
IndicatorMar 2023Mar 2022
Total Revenue Annual Cr 23,85421,566
Operating Expenses Annual Cr 22,64820,476
Operating Profit Annual in Cr 717736
Depreciation Cr 260314
Interest Annual Cr 521356
Tax Annual Cr 226
Net Profit Annual Cr 477446
IndicatorMar 2023Mar 2022
Cash from Operating Activity Annual Cr -742660
Cash from Investing Activity Annual Cr 1,480-1,125
Cash from Financing Annual Activity Cr 89-329
Net Cash Flow Annual Cr 828-795
IndicatorMar 2023Mar 2022
Total ShareHolders Funds Annual Cr 26,82826,507
Fixed Assets Annual Cr 2,8302,829
Total Non Current Assets Annual Cr 29,28828,382
Total Current Assets Annual Cr 30,08227,862
Total Assets Annual Cr 59,37056,244
IndicatorMar 2023Mar 2022
Book Value Per Share Annual Rs 7776
ROE Annual % 22
ROCE Annual % 32
Total Debt to Total Equity Annual --
EBDIT Annual Margin % 55

Bharat Heavy Electricals Technicals

EMA & SMA

Current Price
₹124.5
0.9 (0.73%)
  • Bullish Moving Average
  • ___
  • 9
  • Bearish Moving Average
  • ___
  • 7
  • 20 Day
  • ₹124.8
  • 50 Day
  • ₹112.91
  • 100 Day
  • ₹101.57
  • 200 Day
  • ₹89.88
  • 20 Day
  • ₹126.01
  • 50 Day
  • ₹109.78
  • 100 Day
  • ₹96.93
  • 200 Day
  • ₹86.86

Bharat Heavy Electricals Resistance and Support

PIVOT
₹124.74
Resistance
First Resistance ₹126.32
Second Resistance ₹129.04
Third Resistance ₹130.62
RSI 52.1
MFI 63.91
MACD Single Line 7.84
MACD 5.97
Support
First Resistance ₹122.02
Second Resistance ₹120.44
Third Resistance ₹117.72

Bharat Heavy Electricals Delivery and Volume

Period NSE + BSE Volume Avg NSE + BSE Delivery Volume Avg NSE + BSE Delivery Volume %
Day 22,645,366 875,469,850 38.66
Week 33,522,351 942,648,496 28.12
1 Month 66,217,347 1,530,945,067 23.12
6 Month 30,908,796 821,246,703 26.57

Bharat Heavy Electricals Result Highlights

Bharat Heavy Electricals Synopsis

NSE-Machinery-Gen Industrial

Bharat Heavy Ele is involved in the business activities of Manufacture of steam generators, except central heating hot water boilers. Company’s Total Operating Revenue is Rs. 23364.94 Cr. and Equity Capital is Rs. 696.41 Cr. for the Year ended 31/03/2023. Bharat Heavy Electricals Ltd. is a Public Limited Listed company incorporated on 13/11/1964 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L74899DL1964GOI004281 and registration number is 004281.
Market Cap 43,038
Sales 23,696
Shares in Float 128.84
No of funds 215
Yield 0.32
Book Value 1.58
U/D Vol ratio 1.9
LTDebt / Equity
Alpha 0.26
Beta 1.69

Bharat Heavy Electricals

Owner NameJun-23Mar-23Dec-22Sep-22
Promoters 63.17%63.17%63.17%63.17%
Mutual Funds 4.64%4.02%3.2%3.01%
Insurance Companies 11.23%10.97%10.98%11.17%
Foreign Portfolio Investors 7.77%8.58%8.48%4.81%
Financial Institutions/ Banks 0.27%0.27%0.27%0.27%
Individual Investors 10.87%10.99%11.3%15.44%
Others 2.05%2%2.6%2.13%

Bharat Heavy Electricals Management

Name Designation
Dr. Nalin Shinghal Chairman & Managing Director
Mr. Jai Prakash Srivastava Director
Ms. Renuka Gera Director
Mr. Subodh Gupta Director - Finance
Mr. Upinder Singh Matharu Director - Power
Mr. Vijay Mittal Part Time Official Director
Mr. Shashank Priya Part Time Official Director
Mr. Raj Kamal Bindal Independent Director
Mr. Manish Kapoor Independent Director
Dr. Raj K Agarwal Independent Director
Dr. K Sivaprasad Independent Director
Dr. Lekhasri Samantsinghar Independent Director

Bharat Heavy Electricals Forecast

Price Estimates

2,000(9.8%)
1,758(-3.5%)
1,590(-12.7%)

Other Analyst Rating

Bharat Heavy Electricals Corporate Action

Date Purpose Remarks
2023-08-04 Quarterly Results
2023-05-26 Audited Results & Final Dividend
2023-02-10 Quarterly Results
2022-11-11 Quarterly Results
2022-08-04 Quarterly Results
Date Purpose Remarks
2023-08-11 FINAL Rs.0.40 per share(20%)Final Dividend
2022-09-16 FINAL Rs.0.40 per share(20%)Final Dividend

Bharat Heavy Electricals MF Shareholding

Name Amount(cr)
HDFC Balanced Advantage Fund Growth 61599
Nippon India Small Cap Fund - Growth 36540
Kotak Equity Arbitrage Fund Growth 25860
ICICI Prudential Equity & Debt Fund Growth 25275
Nippon India Growth Fund - Growth 18343
  • Company Name
  • CMP
  • Chg(%)
  • Company Name
  • CMP
  • Chg(%)

About Bharat Heavy Electricals

Established in 1956, BHEL (Bharat Heavy Electricals Limited) is India's largest power generation equipment manufacturer under the ministry of heavy industries Government of India. It is also one of India’s major Public Sector enterprises (PSE) and is the single major source of coal, hydro, gas, nuclear, and solar energy. It serves several core sectors such as transmission, industrial systems and products, transportation, e-mobility & battery energy storage, renewable energy, oil & gas, water, and defence & aerospace.
As a leader in the power transmission sector in India, BHEL offers a good range of transmission systems and products conforming to international quality and standards. With the tagline "Powering Progress, Brightening Lives Touching Every Indian Home", BHEL utilises its huge infrastructure base of 17 Manufacturing Units, 2 Repair Units, 4 Regional Offices, 8 Service Centers, 8 Overseas Offices, 15 Regional Centers, and 7 Joint Ventures to execute more than 150 projects globally.

When India attained independence in 1947, one of the greatest challenges India faced was providing a good infrastructure base for economic and industrial development. Hence in 1956, the government of India established "Heavy Electricals India Limited" (HEIL), a Public Sector Company under the Ministry of Industry and Commerce, to provide a thrust to the industrial sector. As the industrial revolution kicked in and the demand for power generating capacity multiplied manifold, BHEL established the following power manufacturing plants :

  1. First at Tiruchirappalli (Tamil Nadu) for high-pressure boilers.
  2. Second one at Hyderabad (Telangana) for steam turbo generators and high-pressure pumps and compressors.
  3. Third plant at Haridwar (Uttarakhand) for large steam turbo generating sets and motors and hydro generating sets. All the initial preparatory work for BHEL was administered from Bhopal till November 1964, until the government decided to create a separate corporation for setting up and managing these three units.

Thus, Heavy Electricals India Limited was merged with Bharat Heavy Electricals Limited, and BHEL was born and formally incorporated on 13th November 1964. Over time as BHEL developed its capabilities and expanded across various sectors, it became a Public Limited company in 1991.

Apprehension towards BHEL

The state-owned company struggled as its order flow tumbled in the last decade. India's power producers sat on excess capacity, with power demand not growing as expected. As a result, 
Also, BHEL lacks marketing skills for its engineering equipment, which greatly affects the company's manufacturing capabilities, leading to inadequate supply in the market.
Another instance is the Commissioning of the 1,320MW Maitree Super Thermal Power Plant at Rampal, Bangladesh. The coal power plant was criticized immensely for its adverse effects on the environment due to its proximity to the Sundarbans mangrove forest.

Conclusion

Bharat Heavy Electricals Limited's (BHEL) share prices have fallen by 57% in the last year due to a weak domestic power sector, slow execution of projects, high debt, and drying up of investment funding. While the government is trying to revive the sector by breaking the State Electricity Boards into independent firms and allowing power tariff hikes, BHEL is a good contrarian value buy at the current market price with a 1-2 years perspective. BHEL is a true Maharatna PSU.

Bharat Heavy Electricals FAQs

What is Share Price of Bharat Heavy Electricals ?

Bharat Heavy Electricals share price is ₹124 As on 21 September, 2023 | 15:03

What is the Market Cap of Bharat Heavy Electricals ?

The Market Cap of Bharat Heavy Electricals is ₹43351.7 Cr As on 21 September, 2023 | 15:03

What is the P/E ratio of Bharat Heavy Electricals ?

The P/E ratio of Bharat Heavy Electricals is 134.8 As on 21 September, 2023 | 15:03

What is the PB ratio of Bharat Heavy Electricals ?

The PB ratio of Bharat Heavy Electricals is 1.6 As on 21 September, 2023 | 15:03

Is BHEL Share a good buy?

As per Thomson Reuters, the overall mean recommendation by 20 analysts for BHEL stock is to Sell. The recommended breakup is as follows.

  • Three analysts recommend to Hold
  • Seven analysts are recommending to Sell
  • Ten analysts are recommending a Strong Sell
     

Who is BHEL's competitor in the share market?

Within the Engineering sector, BHEL, Bharat electronics, AIA Engineering, are usually compared together by investors for analysis.

Q2FY23