Bharat Heavy Electricals (500103) Q4 25/26 earnings summary

Executive summary

• Achieved strong revenue growth with a 19% year-over-year increase, reaching Rs. 33,782 crore in FY26, and approved audited standalone and consolidated financial results for the year ended 31 March 2026.

• Order inflow in the industry segment rose by 50%, with the highest ever outstanding order book at ~Rs. 2,40,000 crore.

• Commissioned/synchronized 8.9 GW power capacity in FY26, including major domestic and export projects.

• Diversified into coal-to-chemical and rail signaling segments, receiving significant new orders.

• Audit reports for both standalone and consolidated results carry unmodified opinions, confirming compliance with Indian Accounting Standards and SEBI regulations.

Financial highlights

• Revenue from operations grew to Rs. 33,782 crore in FY26 from Rs. 28,339 crore in FY25, with consolidated net profit at Rs. 1,600.26 crore, up from Rs. 533.90 crore year-over-year.

• EBITDA increased to Rs. 3,189 crore in FY26 from Rs. 1,745 crore in FY25.

• Profit after tax rose to Rs. 1,578 crore in FY26 from Rs. 513 crore in FY25; standalone net profit was Rs. 1,577.95 crore.

• Basic and diluted EPS (standalone) for FY 2025-26 was ₹4.53, up from ₹1.47 in FY 2024-25.

• Net provisions improved to -Rs. 177 crore in FY26 from Rs. 158 crore in FY25.

Outlook and guidance

• Forward-looking statements caution that actual results may differ due to market, regulatory, and economic factors.

• The Board recommended a final dividend of ₹1.40 per share (70% of face value) for FY 2025-26, subject to AGM approval.

• Any financial impact from the new Labour Codes will be recognized when detailed rules are notified and become effective.