Bharat Heavy Electricals (500103) Q3 25/26 earnings summary

Executive summary

• Achieved strong financial growth in Q3 FY2025-26 with significant increases in revenue, EBITDA, and profit after tax year-over-year.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended 31st December 2025 were approved on 19th January 2026.

• Financial statements reviewed by independent auditors with no material misstatements identified.

• Secured major orders across power, industry, and exports, expanding the outstanding order book to over Rs. 2,22,800 crore.

• Delivered key operational milestones, including capacity additions, synchronizations, and full load achievements in major power projects.

Financial highlights

• Standalone revenue from operations for Q3 FY26 was ₹8,473.10 crore, up from ₹7,277.09 crore in Q3 FY25.

• Standalone net profit for Q3 FY26 was ₹382.49 crore, compared to ₹124.77 crore in Q3 FY25.

• Consolidated net profit for Q3 FY26 was ₹390.40 crore.

• EBITDA increased to Rs. 772 crore from Rs. 420 crore year-over-year.

• EPS (standalone) for Q3 FY26 was ₹1.10, up from ₹0.36 in Q3 FY25.

Outlook and guidance

• Cautionary statement highlights potential risks from market demand, pricing, regulations, and economic developments.

• Impact of new Labour Codes, effective 21 November 2025, will be evaluated and accounted for as rules are notified.