Is Bharat Heavy Electricals a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Bharat Heavy Electricals Ltd is a below average quality company .

Is Bharat Heavy Electricals undervalued or overvalued?

The key valuation ratios of Bharat Heavy Electricals Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone .

What is Bharat Heavy Electricals share price return in the past 10 years?

Bharat Heavy Electricals Ltd share price has appreciated 3% annually (CAGR) over the past ten years.

Is Bharat Heavy Electricals a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Bharat Heavy Electricals Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

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

The latest standalone P/E ratio of Bharat Heavy Electricals as of 18-Nov-2024 is 376.49.

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

The latest standalone P/B ratio of Bharat Heavy Electricals as of 18-Nov-2024 is 3.15.

What is the 52-week high and low of Bharat Heavy Electricals?

The 52-week high of Bharat Heavy Electricals is Rs. 335.40 and the 52-week low is Rs. 135.35.

What is the TTM revenue of Bharat Heavy Electricals?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Bharat Heavy Electricals is Rs. 25226.39 (Cr.).

Bharat Heavy Electricals Ltd - Stock Valuation and Financial Performance

Name: Bharat Heavy Electricals
Brand: Bharat Heavy Electricals

BSE: 500103 | NSE: BHEL | Engineering - Industrial Equipments | Large Cap

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BHEL Share Price

₹222.45 -1.25 -0.56%
as on 18-Nov'24 16:59

10 Year X-Ray of BHEL:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	6.4%	-2.4%	3.2%	5.9%	7.3%	-0.2%	-9.6%	2.8%	4.2%	3.3%	-
Value Creation Index ⓘ	-0.4	-1.2	-0.7	-0.5	-0.4	-1.0	-1.7	-0.8	-0.6	-0.7	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	30,017	25,483	28,447	28,813	30,423	21,459	17,308	21,211	23,365	23,893	25,226
Sales YoY Gr.	-	-15.1%	11.6%	1.3%	5.6%	-29.5%	-19.3%	22.6%	10.2%	2.3%	-
Adj EPS ⓘ	4.6	-2.7	1.9	1.3	3.3	-5.1	-7.9	1	0.8	0.5	0.6
YoY Gr.	-	-159%	NA	-32.1%	163%	-253.3%	NA	NA	-20.8%	-35%	-
BVPS (₹) ⓘ	92.8	87.7	88	88.8	90.3	83.8	76.1	77.5	71.3	71.4	70.7
Adj Net Profit ⓘ	1,686	-994	685	467	1,163	-1,784	-2,761	352	279	181	205
Cash Flow from Ops. ⓘ	775	347	562	991	-3,856	-2,892	560	660	-741	-3,713	-
Debt/CF from Ops. ⓘ	0.2	0.6	0.3	0.1	-0.7	-1.7	8.6	7.2	-7.3	-2.4	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	-2.5%	-4.7%	11.3%	2.3%
Adj EPS ⓘ	-21.5%	-31.1%	NA	-35%
BVPSⓘ	-2.9%	-4.6%	-2.1%	0.2%
Share Price	3%	32%	52.8%	56.8%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	5	-3	2.1	1.4	3.6	-5.9	-9.9	1.3	1.1	0.7	0.8
Op. Profit Mgn % ⓘ	2.6	-12.7	-8.7	-2.6	-0.4	-16.9	-31.8	-11.2	-8.6	-17.6	3.1
Net Profit Mgn % ⓘ	5.6	-3.9	2.4	1.6	3.8	-8.3	-16	1.7	1.2	0.8	0.8
Debt to Equity ⓘ	0	0	0	0	0.1	0.2	0.2	0.2	0.2	0.4	0
Working Cap Days ⓘ	694	754	606	519	521	766	852	642	580	584	226
Cash Conv. Cycle ⓘ	310	338	253	135	57	99	103	38	-3	4	61

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 11.34%

Sales growth is good in last 4 quarters at 11.42%

Return on Equity has declined versus last 3 years average to 0.80%

Net Profit has been subdued in last 3 years 0.00%

Latest Financials - Bharat Heavy Electricals Ltd.

	Standalone	Consolidated
TTM EPS (₹)	0.6	0.7
TTM Sales (₹ Cr.)	25,226	25,226
BVPS (₹.) ⓘ	70.7	69.5
Reserves (₹ Cr.) ⓘ	23,904	23,503
P/BV ⓘ	3.15	3.20
PE ⓘ	376.49	328.77

From the Market
52 Week Low / High (₹)	135.35 / 335.40
All Time Low / High (₹)	5.00 / 390.00
Market Cap (₹ Cr.)	77,459
Equity (₹ Cr.)	696.4
Face Value (₹)	2
Industry PE ⓘ	57

Management X-Ray of BHEL:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of BHEL

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Dividend History

Analyst's Notes

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Key Ratios of BHEL

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	30,017	25,483	28,447	28,813	30,423	21,459	17,308	21,211	23,365	23,893
Operating Expenses ⓘ	29,621	28,724	31,200	29,601	30,539	25,076	22,821	23,588	25,383	28,094
Manufacturing Costs	4,965	4,540	4,633	4,948	5,633	4,419	4,010	5,928	6,790	6,241
Material Costs	13,366	13,212	14,097	12,720	13,980	10,738	8,669	9,730	10,475	11,548
Employee Cost	5,448	5,380	5,395	6,067	5,502	5,426	5,372	5,517	5,701	5,629
Other Costs ⓘ	5,842	5,591	7,075	5,866	5,424	4,493	4,769	2,413	2,417	4,677
Operating Profit ⓘ	396	-3,241	-2,752	-788	-117	-3,617	-5,512	-2,377	-2,018	-4,201
Operating Profit Margin (%)	1.3%	-12.7%	-9.7%	-2.7%	-0.4%	-16.9%	-31.8%	-11.2%	-8.6%	-17.6%
Other Income ⓘ	2,913	3,372	4,641	3,489	3,016	4,069	2,839	3,574	3,577	5,498
Interest ⓘ	92	359	412	330	377	611	466	447	612	828
Depreciation ⓘ	1,077	936	849	786	475	503	473	314	260	249
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	0
Profit Before Tax ⓘ	2,140	-1,164	628	1,585	2,048	-662	-3,612	437	686	220
Tax ⓘ	721	-455	132	778	839	811	-894	27	61	-40
Profit After Tax	1,419	-710	496	807	1,209	-1,473	-2,717	410	624	260
PAT Margin (%)	4.7%	-2.8%	1.7%	2.8%	4.0%	-6.9%	-15.7%	1.9%	2.7%	1.1%
Adjusted EPS (₹)	3.9	-1.9	1.4	2.2	3.5	-4.2	-7.8	1.2	1.8	0.8
Dividend Payout Ratio (%)	20%	-14%	78%	83%	58%	0%	0%	34%	22%	33%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	34,085	32,181	32,294	32,601	31,432	29,181	26,484	26,971	24,812	24,851
Share Capital ⓘ	490	490	490	734	696	696	696	696	696	696
Reserves ⓘ	33,595	31,692	31,805	31,867	30,735	28,485	25,788	26,275	24,116	24,154
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	61	126	90	57	2,527	4,933	4,834	4,745	5,385	8,808
Long Term Debt	61	126	90	57	95	0	0	0	0	0
Short Term Debt	0	0	0	0	2,432	4,933	4,834	4,745	5,385	8,808
Trade Payables	8,799	8,698	8,709	10,587	11,375	8,824	6,675	7,750	9,896	8,696
Others Liabilities ⓘ	29,211	26,750	19,788	19,176	18,488	16,840	14,707	13,774	13,074	12,886
Total Liabilities ⓘ	72,156	67,756	60,881	62,421	63,822	59,779	52,700	53,240	53,167	55,241
Fixed Assets
Gross Block	12,586	4,896	5,372	5,626	5,951	6,331	6,463	6,640	6,949	7,236
Accumulated Depreciation	8,447	934	1,777	2,557	2,984	3,517	3,975	4,241	4,473	4,662
Net Fixed Assetsⓘ	4,138	3,962	3,596	3,069	2,967	2,814	2,488	2,398	2,476	2,574
CWIP ⓘ	518	318	168	203	235	314	420	431	354	308
Investmentsⓘ	418	664	661	691	669	670	670	670	670	668
Inventories	10,105	9,602	7,372	6,259	7,797	8,905	7,191	6,560	6,756	7,221
Trade Receivables	26,224	22,430	22,076	14,064	11,861	7,108	4,034	3,025	3,128	4,785
Cash Equivalents	9,813	10,086	10,492	11,176	7,503	6,419	6,701	7,154	6,698	6,157
Others Assetsⓘ	20,941	20,693	16,516	26,960	32,789	33,549	31,196	33,002	33,085	33,528
Total Assets ⓘ	72,156	67,756	60,881	62,421	63,822	59,779	52,700	53,240	53,167	55,241

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	775	347	562	991	-3,856	-2,892	560	660	-741	-3,713
PBT ⓘ	2,140	-1,164	628	1,585	2,048	-662	-3,612	437	686	220
Adjustment ⓘ	1,511	2,499	1,899	2,636	2,107	713	1,742	-778	-740	-711
Changes in Working Capital ⓘ	-1846	-683	-1376	-3274	-7589	-2620	2620	592	-797	-3445
Tax Paid ⓘ	-1,030	-305	-589	43	-421	-322	-190	409	110	222
Cash Flow From Investing Activity ⓘ	464	51	-566	964	1,915	1,877	-43	-1,125	1,480	1,331
Capex	-457	-553	-333	-270	-424	-385	-249	-162	-181	-224
Net Investments	0	0	-861	562	1,734	1,707	-159	-1,251	1,384	1,113
Others ⓘ	921	604	628	672	605	555	365	288	277	441
Cash Flow From Financing Activityⓘ	-3,300	-124	-470	-671	-32	1,622	-393	-330	89	2,656
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	0	0	0	0	0	0	0	0	0	0
Interest Paid ⓘ	-101	-25	-64	-37	-109	-310	-234	-192	-362	-593
Dividend Paid ⓘ	-594	-183	-294	-485	-653	-505	-1	0	-139	-139
Others ⓘ	-2,605	85	-112	-149	729	2,436	-158	-138	590	3,389
Net Cash Flow ⓘ	-2,060	274	-474	1,284	-1,973	607	124	-795	829	274

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	4.23	-2.14	1.54	2.49	3.78	-4.86	-9.76	1.53	2.41	1.05
ROCE (%)	6.38	-2.42	3.21	5.88	7.27	-0.15	-9.62	2.8	4.19	3.28
Asset Turnover Ratio	0.41	0.38	0.46	0.53	0.55	0.39	0.35	0.46	0.51	0.51
PAT to CFO Conversion(x)	0.55	N/A	1.13	1.23	-3.19	N/A	N/A	1.61	-1.19	-14.28
Working Capital Days
Receivable Days	318	333	273	201	136	142	103	53	42	52
Inventory Days	117	135	104	76	73	125	149	104	90	92
Payable Days	238	241	225	276	285	342	323	266	303	291

Bharat Heavy Electricals Ltd Stock News

Bharat Heavy Electricals Ltd FAQs

What is the share price of BHEL?

Company share prices are keep on changing according to the market conditions. The closing price of BHEL on 18-Nov-2024 16:59 is ₹222.4.

What is the market cap of BHEL?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 18-Nov-2024 16:59 the market cap of BHEL stood at ₹77,458.5.

What is the P/E ratio of BHEL?

The latest P/E ratio of BHEL as of 18-Nov-2024 16:59 is 376.5.

What is the P/B ratio of BHEL?

The latest P/B ratio of BHEL as of 18-Nov-2024 16:59 is 3.15.

What is the 52-week high and low of BHEL?

The 52-week high of BHEL is ₹335.4 and the 52-week low is ₹135.3.

What is the TTM revenue of BHEL?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of BHEL is ₹25,226 ( Cr.) .

About Bharat Heavy Electricals Ltd

Bharat Heavy Electricals Limited (BHEL) is a celebration of India’s industrial achievements. It is established in 1964. It is one of India’s largest engineering and manufacturing enterprises in the energy and infrastructure sectors and a leading power equipment manufacturer globally.

All the entities of the company are accredited to ISO 9001:2015, Quality Management Systems, with major manufacturing units also accredited to Environmental Management Systems, ISO 14001:2015, and Occupational Health & Safety Management Systems, OHSAS 18001:2007.

Business area of the company

The company is one of the largest engineering and manufacturing companies of its kind in India, engaged in the design, engineering, manufacture, construction, testing, commissioning and servicing of a wide range of products, services and systems for core sectors of the economy, viz. Power Generation, Transmission, Industry, Transportation, Renewable Energy, Oil & Gas, Water, Defence & Aerospace, and E-Mobility & Energy Storage Solutions.

Products & Services

Thermal Power Plants
Nuclear Power Plants
Gas-Based Power Plants
Hydro Power Plants
Solar Power System
DG Power Plants
Desalination And Water Treatment Plants
Boilers
Boiler Auxiliaries
Soot Blowers
Valves
Piping Systems
Seamless Steel Tubes
Steam Turbines
Turbogenerators
Industrial Sets
Castings And Forgings
Condenser And Heat Exchangers
Pumps
Compressors
Solar Photovoltaics
Automation And Control Systems
Transmission Systems Control
Software System Solution
Switchgear
On Load Tap Changers (OLTC)
L T Switchgear & Bus Ducts
Transformers & Reactors
Capacitors
Bushings
Control Gear
Insulators
Electrical Machines
Transportation Systems
Transportation Equipment
Energy Storage System & E- Mobility
Oil Field Equipment
Fabricated Equipment And Mechanical Packages

Awards

2011

BHEL employees win 5 Vishwakarma National Awards and BHEL Units bag 3 National Safety Awards
BHEL wins ICWAI National Awards for Excellence in Cost Management for the sixth consecutive year; maximum number of awards conferred on BHEL among public and private sector companies
BHEL gets Golden Peacock Award 2011 for Occupational Health and Safety
BHEL bags Intellectual Property Award 2011
BHEL receives Essar Steel Infrastructure Excellence Award 2011
BHEL wins DSIJ Gentle Giant Award 2011

2012

BHEL gets the D and B Best PSU award in the Electrical and Electronics category
BHEL gets the BT-Star Award for the most Innovative PSU in the Maharatna/Navratna category

2013

BHEL wins India Pride Award 2013 for Excellence in Heavy Industries
BHEL bags PSE Excellence Award 2013 for RnD, Technology Development and Innovation
BHEL conferred BGR-ENERTIA Commemoration Award for Technology Enterprise Innovation - Conventional Energy

2014

BHEL bags PSE Excellence Award 2014 for R and D and Technology Development
BHEL wins ICAI National Award for Excellence in Cost Management for the ninth consecutive year
BHEL conferred Skoch Foundation Order of Merit Awards

2015

BHEL wins DSIJ Award 2015 for the Most Efficient Maharatna PSU
BHEL wins Best Overall Performance Award
BHEL wins Award for Best R and D and Innovation
BHEL bags EEPC's Top Export Award for the 25th consecutive year
BHEL bags PSE Excellence Awards for Human Resource Management Excellence and for R and D Technology Development and Innovation
BHEL wins India Pride Award 2014-15 for Excellence in Heavy Industries

2016

BHEL wins Golden Peacock HR Excellence award 2016
BHEL wins Awards for Excellence in R and D and Technology Adoption
BHEL wins the EEPC Export Excellence Award for the 26th consecutive year
BHEL bags PSE Excellence Awards for Human Resource Management Excellence and for R and D Technology Development and Innovation
BHEL honoured with Excellence Award by POWERGRID
BHEL wins BML Munjal Award for 'Business Excellence through Learning and Development'

2017

BHEL bags PSE Excellence Awards for R and D, Technology Development and Innovation, Human Resource Management Excellence and for Contribution of Women in PSEs
CMD, BHEL conferred Industry Honour for 'Visionary Leadership in Heavy Engineering'
CMD, BHEL honoured as eminent engineering personality by The Institution of Engineers
BHEL adjudged the Best Power Equipment Manufacturing Organisation

2018

BHEL wins PSE Excellence Award 2018 for Corporate Governance
BHEL wins ICAI National Award for Excellence in Cost Management
BHEL wins Six National Safety Awards
BHEL wins EEPC Export Excellence Award
BHEL wins India Pride Award 2017-18 for Excellence in Heavy Industries
BHEL wins CBIP Award 2018 for 'Best Power Equipment Manufacturing Organisation'

2019

BHEL wins Indian Green Energy Award 2019
Dun & Bradstreet PSU Award 2019 in manufacturing, processing & generation- Heavy & Medium Engineering category for its contribution to the country's development.
Safety Innovation Award 2019 by The Institution of Engineers.
Asia Pacific Entrepreneurship Award 2019 under corporate excellence in the field of Engineering Industry.
Golden Globe Tigers Award 2019 for excellence in HR Leadership under the category- Dream Company to Work for Golden Peacock Award 2019 for corporate social responsibility.
Golden Peacock Award 2019 for corporate social responsibility.
BHEL Hyderabad Provident Fund Trust has been conferred with the 'Best Performing Exempted PF Trust Award' by Employees' Provident Fund Organizations (EPFO) at its 67th Foundation Day celebration.
National Best Employer Brand Award 2019 for initiatives in talent development, succession planning, retention & talent attraction by World HRD Congress.

2020

BHEL wins Governance Now PSU Awards 2020 in three categories.

Milestones

2011

BHEL joins hands with Abengoa to develop Concentrated Solar Power projects in India

2012

BHEL develops India first Ultra High Voltage AC 1200 kV Transformer through in-house Research and Development efforts

2013

BHPV Merged with BHEL; Becomes Seventeenth Unit of BHEL
BHEL reaffirms commitment towards environmental concerns; Acquires state-of-the-art technology for controlling pollution from thermal power plants

2014

BHEL, HSL and Midhani join hands for Indigenous Submarine project
BHEL further scaling up Research and Development efforts - Organizes Industry Academia meet to explore potential research areas of collaboration with leading Indian Institutes of Technology

2015

BHEL holds Annual Industry-Academia Meet; Signs MoU with IIT Roorkee
BHEL signs three strategic MoUs in Kazakhstan
BHEL launches online Supplier Registration Portal

2016

BHEL consolidates its global footprint Forays into two new countries - Togo and Benin
BHEL and NHPC sign Contract Agreement
BHEL further expands footprint in Afghanistan

2017

BHEL signs Technology Collaboration Agreement with Kawasaki Heavy Industries Ltd. for Manufacture of Stainless Steel Coaches for Metros
BHEL and Indian Railways tie up for Rooftop SPV Systems
BHEL signs MoU with NEERI for joint working on projects related to water and waste water treatment

2018

BHEL signs Technology Collaboration Agreement with Babcock Power Environmental Inc., USA
BHEL Renovates RCC drain and builds modern Public Utility Complex in Noida as part of CSR initiatives
BHEL signs Technology Transfer Agreement with ISRO for manufacture of Space Grade Lithium-ion cells
BHEL signs Technology Collaboration Agreement with HLB Power, Republic of Korea

2019

BHEL signs MoU with CSIR for commercialisation of indigenously developed technologies
BHEL signs MoU with NTPC to set up world’s most efficient & environmental friendly coal-fired power plant
BHEL and CONCOR to jointly set up Rail-based Logistics Facility at Haridwar
BHEL signs MoU with ARAI for e-mobility projects

2020

AatmaNirbhar Bharat - BHEL showcases capabilities for developing self-reliance in manufacturing
BHEL launches ‘Quality First’ Initiative
BHEL signs MoU with Rosoboronexport, Russia
BHEL launches multi-dimensional Transformation Strategy; Focuses on converting challenges of rapidly changing business environment into opportunities