Shares of Bharat Heavy Electricals Limited (BHEL) will be in focus today, June 4 after the PSU secured an order worth Rs. 2,000–2,500 crore from a Nigerian client for eight gas turbine generator packages.
BHEL in an exchange filing on Wednesday, June 3 informed the exchanges about signing an agreement with Dangote Petroleum Refinery & Petrochemicals Free Zone Enterprise for the design, manufacturing, supply, and supervision of the erection and commissioning of eight gas turbine generator packages for a petroleum refinery and polypropylene plant in the Dangote Industries Free Zone, Nigeria.
The agreement was signed on June 2, 2026, and the project is scheduled to be completed within 26 months from the effective date of the contract.
Check Target Price
In its recent note, UBS downgraded BHEL stock from Neutral to Buy and raised target price to Rs 460, marking an upside of 13.2%. The brokerage highlighted steady but priced in growth. It mentioned that the risk-reward is now more balanced with the bulk of the order book expansion behind. While industrial, coal-gasification offer good prospects, near- to medium-term upside appears limited.
BHEL Q4 Results
The state-run firms net profit rose 155% to Rs 1,290 crore in the fourth quarter of fiscal 2025-26 from Rs 504 crore in the corresponding period last year. Revenue surged 36.9% to Rs 12,310 in the January to March quarter from Rs 8,993 crore in the same period preceding year. In terms of operations, EBITDA jumped touching Rs 1,753 crore for the quarter under review against Rs 832 crore in Q4FY25. EBITDA margin was at 14.2% against 9.2% on an year on year basis. Meanwhile, other income stood at Rs 243 crore in the quarter.
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