Overview:

• BHEL's consolidated net profit surged 254% YoY to Rs. 375 crore in Q2 FY26.

• The company’s revenue increased 14% YoY to Rs. 7,512 crore, and EBITDA margins also rose to 7.7% from 4.16%.

• The stock was up by almost 5%, hitting Rs. 258.94 — its 52-week high, indicating strong investor sentiment.

Bharat Heavy Electricals (BHEL) share price surged strongly in Thursday's trading, October 30, 2025, as the engineering behemoth posted excellent second-quarter results. The stock rose almost 5% intraday to its high of Rs. 258.94 per share, as traders reacted well to the company's enhanced profitability. BHEL share price was up 4.7% at Rs. 256.92 on NSE at press time, higher from the last close of Rs. 245.39. The company’s market cap was at Rs. 89,785 crore, which indicates renewed investor confidence in the company's growth path.

Let’s explore in depth the BHEL share price analysis based on Moneycontrol data. 

BHEL Q2 Results

BHEL's consolidated net profit surged 254% to Rs. 375 crore in the July-September quarter of FY26 from Rs. 106 crore in the corresponding period last fiscal year. The profit surge was backed by increased operational efficiency, better margins, and improved order execution across major business segments.

Revenue from operations rose 14% YoY to Rs. 7,512 crore from Rs. 6,584 crore in Q2 FY25. Total income during the quarter was Rs. 7,686 crore, up 15% from Rs. 6,695 crore a year ago.

Even with an increase in overall expenses to Rs. 7,202 crore from Rs. 6,571 crore during the corresponding period last year, BHEL shares had a good operating performance. The EBITDA of the company grew to Rs. 580 crore from Rs.  274 crore during the same period last year. EBITDA margins increased to 7.7% from 4.16% YoY, reflecting improvement in cost control and execution efficiency. In the first half of FY26, BHEL posted revenue of Rs. 12,999 crore, an 8% rise from Rs. 12,069 crore in the first half of FY25, reflecting steady momentum of growth.

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Technical and Market Performance

BHEL share price showed strong bullish momentum throughout the session. The stock opened at Rs. 254 and moved between an intraday low of Rs. 245.12 and a high of Rs. 258.94, before stabilizing near the day’s peak. The average traded volume spiked to 46.4 million shares, well above its 20-day average volume of 6.06 million, reflecting heightened investor participation.

The VWAP of the stock was at Rs. 252.18, which reflects solid buying interest near that level. The 52-week range for BHEL still is Rs. 176 and Rs. 272.10, which reflects the stock trading near the 52-week high for the year.

Today, BHEL shares have a price-to-earnings (P/E) multiple of 310.66 compared to the industry average of 52.18, which reflects rich valuations compared to competitors. The price-to-book (P/B) ratio is at 3.64, and the book value per share is Rs. 71.

BHEL share price chart on TradingView shows gains of 5.57%:

Analyst View 

According to analysts on Moneycontrol, majority (32%) advised ‘Buy’ and 26% recommended ‘Sell’ rating. Even with the high P/E ratio, analysts point out that BHEL's better profitability, widening margins, and increasing order book may offer support for bullish outlook in the medium term.

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Investor Outlook

BHEL's strong Q2 FY26 numbers are a major comeback for the PSU giant. The spurt in profits, widening margins, and consistent revenue growth have bolstered investor confidence. Despite high valuations, the improving fundamentals of the company and robust order book indicate that BHEL stock may well continue to report continued growth in the quarters ahead, making it among the most observed stocks in India's capital goods space.

FAQs

1. Why did the BHEL share price rise today?

BHEL shares rose almost 5% as the company released its Q2 FY26 net profit of ₹375 crore with an increase of 254% YoY. This jump in profit was driven by strong operational performance, growing margins, leading to improved investor sentiment. 

2. What were the highlights of the BHEL Q2  results?

BHEL’s revenues grew 14% YoY to ₹7,512 crore in Q2 FY26, EBITDA, nearly doubling, reached ₹580 crore. Margins increased to 7.7% and total income was up by 15% YoY, suggesting good cost management.

3. Is BHEL a good stock to buy now?

Analysts have a split opinion on BHEL stock, with 32% taking the ‘Buy’ Side and 26% taking the ‘Sell’ Side. Despite the rich valuation (P/E 310.66), the improving fundamentals and increasing order book may provide upside potential in the medium term. 

4. What are the growth prospects for BHEL stock in the long term?

BHEL has a diversified portfolio from power, renewables, and transportation to defence; this is a strong position for long-term sustained growth. In addition, expanding into EV charging and battery storage provides more avenues to create value and profits for the future. 

5. What investors should watch out for before buying BHEL shares?

Key risk factors include valuation risk from high P/E, slow order intakes, and macroeconomic pressures that may impact infrastructure spending. Investors should closely monitor quarterly earnings, as well as the projects the company wins.