Bharat Heavy Electricals Limited (BHEL), a major Indian public sector enterprise, released its financial and operational results for Q1 FY26 (quarter ended 30 June 2025). Overall, the quarter reflects a mixed performance: a significantly widened loss, flat revenue year-on-year, but also signs of resilience through strong order inflows and better performance in certain segments. Bharat Heavy Electricals Limited+2ET Now+2
BHEL Quarterly Results FY26
BHEL Q1 FY26: Revenue ₹5,487 Cr, Net Loss ₹455.5 Cr, EBITDA Loss ₹537 Cr, EPS –₹1.31 vs Net Loss ₹211.4 Cr, EPS –₹0.61 in Q1 FY25.
BHEL Q1 FY26 Results Overview
BHEL Net Profit & Revenue Q1 FY26
| Metric | Q1 FY26 (ended 30 June 2025) | Q1 FY25 (ended 30 June 2024) | YoY Change |
|---|---|---|---|
| Consolidated Revenue from Operations | ₹ 5,486.91 crore | ₹ 5,484.92 crore | Up ~0.03% (virtually flat) ET Now+2Univest+2 |
| Consolidated Net Profit / (Loss) After Tax (PAT) | Loss of ₹ 455.50 crore | Loss of ₹ 211.40 crore | Loss more than doubled (~115%) YoY The Economic Times+4Univest+4ET Now+4 |
| Earnings Per Share (Basic & Diluted) | (₹ 1.31) per share (not annualised) | ₹ 1.45 per share (not annualised) | Decline, reflecting the larger loss Bharat Heavy Electricals Limited+1 |
BHEL Q1 FY26 Segment Trends
- Power Segment: Revenue from the power business fell about 5.5% YoY. Arihant Capital+1
- Industry Segment (including exports): This saw growth of around 17% YoY in revenue. Arihant Capital+1
- Expenses: Total expenses increased significantly. The cost of materials & services rose by ~10.8%. Arihant Capital+1
Orders, Order Book & International Operations
- Order Inflows: In Q1 FY26, BHEL’s overall order inflows were ₹ 13,445 crore—split between ₹ 7,620 crore from power and around ₹ 5,825 crore from the industry and export segments. ET Now
- Outstanding Order Book: As of 30 June 2025, BHEL’s order book stood at approximately ₹ 2,04,375 crore in total, with ~₹ 1,61,686 crore from power and ~₹ 42,689 crore from industry/ex-exports. ET Now
Stock Reaction & Analyst Commentary
- The market responded with caution: shares dropped after the announcement, reflecting investor concern about the widened losses despite revenue stability. Outlook Business+2Finology Ticker+2
- Analysts recognise that while current profitability is under pressure, areas such as order inflows, international business, and cost control offer upside potential in future quarters. Finology Ticker+1
Outlook & Future Strategies
BHEL appears likely to focus on several strategic levers to improve its financial performance:
- Prioritising execution of existing orders, especially in segments showing growth (industry/ex-exports).
- Continued emphasis on cost optimisation and managing input costs.
- Enhancing international business opportunities.
- Monitoring domestic demand closely, especially during upcoming periods of infrastructural investment and planned projects.
Conclusion
BHEL’s Q1 FY26 results are not strong from a profitability perspective: losses have widened significantly while revenue has essentially held steady. Yet, there are positive signs in order inflows, a healthy order book, and segmental revenue growth. Whether these translate into improved profits in coming quarters will depend on execution, cost management, and how external demand (both domestic and overseas) develops.
Frequently asked questions
What are the key highlights of BHEL Quarterly Results FY26?
BHEL reported a much larger net loss in Q1 FY26 compared to the same period last year. Revenue remained almost unchanged. However, growth in some segments, a robust order book, and increased orders in export/industry provide some encouragement.
How much revenue and net loss did BHEL report in Q1 FY26?
For Q1 FY26, revenue from operations stood at about ₹ 5,486.91 crore, nearly flat compared to Q1 FY25 (~₹ 5,484.92 crore). The consolidated net loss was approximately ₹ 455.50 crore, up from a loss of ₹ 211.40 crore in the same quarter last year. ET Now+1
What was the EPS and EBITDA performance in BHEL Quarterly Results FY26?
Basic and diluted earnings per share (not annualised) was approx. (₹ 1.31) in Q1 FY26, down from ₹ 1.45 in Q1 FY25. Margins came under pressure due to rising costs and flat revenue. Bharat Heavy Electricals Limited+2Finology Ticker+2
How do BHEL Q1 FY26 results compare with the previous year’s quarter?
Year-on-year, revenue for BHEL has been nearly flat, but losses have more than doubled. Industry and export segments showed growth, whereas power segment revenues slipped. Key cost lines have increased, further contributing to the loss. Arihant Capital+2Finology Ticker+2
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