Bharat Heavy Electricals (500103) investor relations material

Executive summary

• Entering a multi-year growth phase with improving profitability and cash generation, supported by a record executable order book and strong diversification across sectors.

• Strategic focus on nuclear, coal gasification, green hydrogen, HVDC, defence, and rail mobility to drive future growth and reduce sector dependence.

• India's infrastructure and energy expansion underpin a large, durable demand opportunity.

• Unaudited standalone and consolidated financial results for the quarter ended 30th June 2026 were approved by the Board on 16th July 2026.

• Both standalone and consolidated results show a return to profitability compared to the same quarter last year.

Financial highlights

• Revenue from operations rose 40% year-over-year to ₹7,698 crore in Q1FY27; standalone and consolidated revenue was ₹7,697.72 Cr.

• Gross operating margin increased 48% to ₹2,516 crore.

• EBITDA turned positive at ₹735 crore, compared to a loss of ₹352 crore in Q1FY26.

• Profit after tax reached ₹382 crore, reversing a loss of ₹455 crore year-over-year; consolidated net profit was ₹376.71 Cr.

• Total customer collections grew 34% to ₹11,004 crore.

Outlook and guidance

• Focused execution and robust order book expected to drive continued revenue and margin growth.

• Diversification and technology leadership initiatives to support sustainable profitability.

• Export growth and new technology tie-ups being explored.

• The company maintains strong liquidity, with no outstanding commercial paper as of 30th June 2026.

• Credit ratings for commercial paper remain at CARE A1+ and Ind A1+.