Governance Negative

2026-05-28 15:24

CRITICAL RED FLAG DETECTED

BHEL has reported non-compliance with SEBI (LODR) Regulations 17, 18, and 19 for the quarter ended March 2026. The non-compliance is related to the composition of its Board, specifically that the number of Independent Directors was less than 50%, and consequently, the composition of the Audit Committee and Nomination & Remuneration Committee. This arose after two Independent Directors retired on March 27, 2026. BHEL is proposing to seek a waiver of fines from stock exchanges and is coordinating with the Government of India for the appointment of requisite Independent Directors.

Financials Positive

2026-05-04 16:42

Standalone Revenue from Operations for Q4 FY26 was ₹12,310 Cr vs ₹8,993 Cr in Q4 FY25 (▲36.9% YoY). Standalone EBITDA was ₹2,005 Cr vs ₹990 Cr (▲102.5% YoY). Standalone PAT was ₹1,283 Cr vs ₹504 Cr (▲154.6% YoY). EBITDA Margin expanded to 16.3% from 11.0% (▲530bps).

Financials Positive

2026-05-04 11:29

Bharat Heavy Electricals Limited's Board approved the Audited Financial Results (Standalone and Consolidated) for the quarter and year ended March 31, 2026. The Board also recommended a Final Dividend of Rs. 1.40 per share (70% on Rs. 2/- paid-up share capital) for FY 2025-26. This dividend, if declared at the Annual General Meeting, will be paid/dispatched within 30 days.

Financials Positive

2026-05-04 11:25

Bharat Heavy Electricals Limited reported strong standalone financial results for the quarter ended 31st March 2026: Revenue ₹12,310.37Cr vs ₹8,993.37Cr (▲36.88% YoY), EBITDA ₹1,753.10Cr vs ₹831.68Cr (▲110.79% YoY), PAT ₹1,282.68Cr vs ₹504.05Cr (▲154.48% YoY). EBITDA Margin expanded to 14.24% vs 9.25% (▲499bps). The Board also recommended a final dividend of Rs. 1.40 per share for FY 2025-26.

Business Update Positive

2026-04-28 17:11

BHEL signed a Licensing Agreement for Transfer of Technology (LAToT) with NSTL-DRDO for fabrication, installation, & commissioning of LM2500 GT-IRSS for Naval Vessels. This strengthens BHEL's diversification into the Defence segment and supports the 'Make in India' initiative.

Governance Neutral

2026-04-27 15:09

Ms. Nigar Fatima Husain has been appointed as Part-time Official (Government Nominee) Director on BHEL's Board effective 27.04.2026, replacing Shri Asit Gopal. She currently serves as Additional Secretary & Financial Advisor, Ministry of Heavy Industries.

Governance Neutral

2026-04-25 19:59

BHEL announced the appointment of Ms. Aruna Gulati as the new Head of Solar Business Division (SBD), Bengaluru, effective April 25, 2026. She is designated as General Manager & Head (SBD).

Routine Neutral

2026-04-17 21:57

New Filing detected. See link for details.

Routine Neutral

2026-04-17 20:47

New Filing detected. See link for details.

Business Update Negative

2026-04-17 17:57

BHEL has withdrawn its acceptance of a Letter of Intent from MB Power (Madhya Pradesh) Limited for the supply of equipment for a 1x800 MW Anuppur Thermal Power Project, as the formal contract could not be executed despite multiple discussions and extensions.

Business Update Positive

2026-04-09 13:07

Bharat Heavy Electricals Limited (BHEL) signed a Technology Collaboration Agreement (TCA) with E2S Company Limited, Republic of Korea, for Excitation System for Synchronous machines. This agreement aims to strengthen BHEL's capabilities, competitive edge, and contribute to the 'Make in India' initiative.

Routine Neutral

2026-04-08 10:35

Bharat Heavy Electricals Limited submitted the Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended March 31, 2026, confirming the proper handling of physical share certificates for dematerialisation.

Ownership Neutral

2026-04-02 18:46

Government of India, promoter of BHEL, filed an annual disclosure under SEBI SAST Regulation 31(4) for FY26, confirming no new encumbrances on BHEL shares by the promoter or persons acting in concert during the financial year ended March 31, 2026.

Business Update Negative

2026-04-01 16:15

CRITICAL RED FLAG DETECTED

BHEL received a GST demand order for FY 2019-20 to 2022-23 from Karnataka authorities. The initial Rs. 65.75 Cr demand was dropped to Rs. 10.92 Cr, with an additional penalty of Rs. 10.80 Cr. BHEL states no financial implication is expected and will appeal the order.

Business Update Positive

2026-03-31 17:18

BHEL clarifies that the government has relaxed Land Border norms for BHEL tenders, allowing procurement of 21 items from entities in countries sharing land borders for five years. This relaxation under GFR Rule 144(xi) could impact competitive intensity of procurement, currently being examined.

Business Update Positive

2026-03-31 10:04

Bharat Heavy Electricals Limited's (BHEL) credit rating outlook was revised by India Ratings & Research from 'Stable' to 'Positive' on 30-03-2026, while reaffirming its long-term rating of IND AA- and short-term rating of IND A1+.

Routine Neutral

2026-03-30 19:09

New Filing detected. See link for details.

Business Update Positive

2026-03-30 12:50

BHEL received a Notification of Award (NOA) from NTPC Limited on 29th March 2026 for the Main plant package of 3x800 MW Telangana Stage-II STPP. The order is valued at over Rs. 13,500 Cr (excl. GST) and is to be completed within 62 months.

Governance Negative

2026-03-28 10:56

CRITICAL RED FLAG DETECTED

Shri Ashok Kumar Aseri and Shri Aashish Chaturvedi have ceased to be Independent Directors on the Board of BHEL effective March 27, 2026, upon completion of their tenure, as per SEBI LODR Regulations.

Governance Neutral

2026-03-26 14:12

Ms. Aruna Gulati has transitioned out of Senior Management at BHEL on March 25, 2026, due to transfer and re-allocation of work. She moves from GM & Head (CSM & CC) reporting to CMD, to General Manager (Operations), SBD, Bengaluru, reporting to Head (SBD).

Routine Neutral

2026-03-25 15:30

BHEL announced the closure of its trading window for designated persons from April 1, 2026, until 48 hours after filing the audited financial results for the quarter and year ended March 31, 2026, to prevent insider trading. The Board Meeting date for results will be intimated later.

Governance Neutral

2026-03-25 10:12

Two Senior Management personnel, Shri S Prabhakar (Executive Director, HPBP, Trichy) and Rajesh Kohli (Executive Director, Corporate Office, New Delhi), have superannuated from the company's services on March 24, 2026.

Governance Neutral

2026-03-19 16:20

Shri Krishna Kumar Thakur, Director (Human Resources) of BHEL, relinquished his charge on March 19, 2026, to join NMDC Limited as Director (Personnel). Shri Tajinder Gupta, Director (Power), has been entrusted with additional charge of Director (Human Resources) at BHEL.

Business Update Positive

2026-03-19 15:00

BHEL's Board approved a JV with Titagarh Rail Systems for Vande Bharat train maintenance and a ₹3064.46 Cr investment in BCGCL (JV with CIL) for coal to chemicals business. It also approved mergers of its Haridwar and Hyderabad manufacturing units for operational efficiency, effective April 1, 2026.

Governance Negative

2026-03-02 10:17

CRITICAL RED FLAG DETECTED

BHEL received fines of ₹5,42,800 each from BSE and NSE for non-compliance with SEBI LODR Regulation 17(1) for Q4 2025, due to the number of Independent Directors being less than 50% of the board's strength. BHEL is seeking a waiver for the fines, stating Independent Directors are appointed by the Government of India.

Routine Neutral

2026-02-21 16:27

New Filing detected. See link for details.

Business Update Positive

2026-02-17 19:26

Bharat Heavy Electricals Limited (BHEL) received a Letter of Acceptance from SAIL for a Captive Power Plant package at IISCO Steel Plant, Burnpur. The significant industry order is valued between Rs 1200 – Rs 1500 Cr and is to be commissioned within 39 months.

Ownership Neutral

2026-02-13 16:29

BHEL's promoter, the President of India (via Ministry of Heavy Industries), disposed of 174,209,815 equity shares (worth ₹4,470 Cr) through an Offer for Sale between 11.02.2026 and 13.02.2026. Promoter's holding reduced from 63.17% to 58.17%.

Ownership Neutral

2026-02-11 17:26

Government of India will sell 17,41,03,168 equity shares (5% of total paid-up capital) of Bharat Heavy Electricals Limited (BHEL) through an Offer for Sale on Feb 11-12, 2026, exercising the oversubscription option of 2% in addition to the base offer of 3%.

Ownership Neutral

2026-02-10 19:22

Government of India (Promoter) proposes to sell up to 10,44,61,901 equity shares (3.00% of total share capital) of Bharat Heavy Electricals Limited via Offer for Sale on Feb 11-12, 2026, with an option to sell an additional 2.00%.

Business Update Positive

2026-02-10 16:04

BHEL received a Letter of Acceptance from Bharat Coal Gasification and Chemicals Limited (BCGCL), a joint venture, for a Syngas Purification Plant project valued at approximately INR 2800 Crores. The order encompasses design, engineering, supply, civil works, erection, commissioning, and O&M services.

Routine Neutral

2026-02-04 13:03

New Filing detected. See link for details.

Governance Neutral

2026-02-03 14:02

Shri Asit Gopal, Special Secretary & Financial Advisor (SS&FA) from the Ministry of Heavy Industries, has been appointed as Part-time Official (Government Nominee) Director on the Board of BHEL, effective February 3, 2026. He has declared he is not debarred from holding the office.

BHEL

Bharat Heavy Electricals Limited

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