BHEL gains 4% on posting healthy Q3 nos; PAT rises 123%, revenue up 32%

CLSA maintained a 'Reduce' rating on BHEL and cut the target price to Rs 166 per share from Rs 205

Bharat Heavy Electricals (BHEL) shares jumped 4.5 per cent in Wednesday's trade, logging an intraday high at Rs 196.1 per share. The stock advanced after the company posted its healthy Q3 results. 

 

Around 9:26 AM, BHEL share price was up 4.16 per cent at Rs 195.4 per share on BSE. In comparison, the BSE Sensex was up 0.22 per cent at 76,071.10. The market capitalisation of the company stood at Rs 68,039.52 crore. The 52-week high of the stock was at Rs 335.4 per share and the 52-week low was at Rs 185.2 per share. 

BHEL Q3 results

On Tuesday, after market hours, BHEL reported a 123 per cent year-on-year (Y-o-Y) increase in its consolidated net profit in Q3FY25 at Rs 134.7 crore, up from Rs 60.31 reported in Q3FY24. The revenue of the company for the quarter under review increased 32.2 per cent to Rs 7,277.09 crore as compared to Rs 5,503.81 crore a year ago.

 

The Earnings before interest, tax, depreciation and amortisation (Ebitda) for the quarter under review stood at Rs 420 crore as compared to Rs 321 crore a year ago, as per the filing. 

 

The company's order inflow increased 33 per cent Y-o-Y to Rs 47,947 crore as compared to Rs 36,048 crore a year ago. Its order book outstanding as of December 31, 2024, stood at 1,60,157 crore.

 

During the quarter, BHEL successfully completed the Harbour AcceptanceTrials (HATs) for the first upgraded SRGM on board INS Nilgiri.

What brokerages recommend on BHEL post Q3?

Meanwhile, CLSA maintained a 'Reduce' rating and cut the target price to Rs 166 per share from Rs 205. 

 

On the other hand, Antique Broking maintained a 'Buy' rating but cut the target to Rs 300 per share from Rs 364. 

 

Morgan Stanley maintained an 'Overweight' rating with a target price of Rs 352 per share.

 

BHEL is Indian public sector engineering and manufacturing company primarily engaged in the design, engineering, and manufacturing of electrical equipment, systems, and services for various sectors such as power, transmission, transportation, and renewable energy.

 

The company's products include steam turbines, generators, transformers, electrical motors, and more. They play a key role in power generation, both in thermal and renewable sectors, and also have a significant presence in the transportation and defense sectors. 

 

In the past one year, BHEL shares have lost 15.2 per cent against Sensex's rise of 5.5 per cent.