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BHEL Shares Today: Shares of Bharat Heavy Electricals Ltd (BHEL) came under pressure on Thursday, August 7, after the state-owned engineering giant reported a significant jump in losses for the June quarter, weighed down by weak project execution and surging costs.
The stock fell for a second straight session, shedding 6.15 per cent to trade at Rs 225.09 on the NSE by 12:05 PM IST. It had opened at Rs 231.85 and touched an intraday low of Rs 222.59.
BHEL June Quarter Results Highlights (Q1 FY26):
Net Loss: Rs 454.89 crore vs Rs 212.52 crore YoY (up by 114 per cent)
Revenue from Operations: Rs 5,486.91 crore vs Rs 5,484.92 crore YoY (flat)
EBITDA Margin: -9.8 per cent vs -3.1 per cent YoY
Other Expenses: Rs 680 crore vs Rs 340 crore YoY (Likely impacted by a one-off provision)
Despite stable topline numbers, BHEL’s bottom line deteriorated sharply. Operational weakness and a spike in expenses—possibly due to one-off provisions—led to a deeper operating loss, with EBITDA margins plunging nearly 7 percentage points on a year-on-year basis.
Brokerage Views on BHEL
Global brokerage CLSA retained its Underperform rating on BHEL with a target price of Rs 198, flagging disappointing operational performance. Execution growth stood at just 4 per cent year-on-year, well below market expectations.
CLSA also flagged that BHEL shares are priced quite high relative to its expected earnings for next year, which leaves little room for error and could make the stock risky in the near term. However, they did point to a positive trend: a strong pickup in fossil fuel-based power orders, which could support BHEL’s long-term growth. India gave a record 26.6 GW of thermal power orders in the financial year 2025, as the country continues to keep energy security on priority.
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