BHEL Q3 Results 2026: Net Profit Surges 190% to ₹390 Crore; Order Book Hits Record High

20, January 2026. By -Kaushik

BHEL Q3 FY26 Results: A Powerhouse Performance
​State-run engineering giant Bharat Heavy Electricals Limited (BHEL) has reported a stellar performance for the quarter ended December 31, 2025. Driven by robust execution in the power segment and improved operational efficiency, the company’s consolidated net profit nearly tripled year-on-year.
​Financial Highlights at a Glance (Consolidated)

Q3 FY26 Q3 FY25 Growth (YoY)
Net Profit (PAT) ₹390.40 Cr ₹134.70 Cr ↑ 189.8%
Revenue from Operations ₹8,473.10 Cr ₹7,277.09 Cr ↑ 16.4%
EBITDA ₹545.00 Cr ₹304.50 Cr ↑ 79.0%
EBITDA Margin 6.4% 4.2% ↑ 220 bps
Total Income ₹8,691.85 Cr ₹7,385.00 Cr ↑ 17.7%

Key Takeaways from BHEL Q3 2026 Report
​1. Exponential Profit Growth
​BHEL’s bottom line saw a massive jump, with net profit rising to ₹390.40 crore. This 190% growth was supported by a significant increase in “Other Income,” which doubled to ₹219 crore, and a sharp focus on reducing operational bottlenecks.
​2. Segment-Wise Revenue Performance
​Power Segment: Remains the primary engine, contributing ₹6,322.36 crore to the revenue (up 13% YoY).
​Industry Segment: Showed aggressive growth, with revenue reaching ₹2,150.74 crore, compared to ₹1,688.64 crore in the previous year.
​3. Record-Breaking Order Book
​The biggest highlight for investors is BHEL’s massive order visibility. As of December 31, 2025, the total outstanding order book stands at ₹2,22,800 crore.
​Power Sector: 80% of the total orders.
​Industry & Exports: 20% of the total orders.
​New Wins: Key orders include the EPC for the 1×800 MW Darlipali STPP Stage-II and traction transformers for the Vande Bharat Sleeper trains.
​4. Strategic Shifts and Board Decisions
​The Board of Directors has approved the short closure of the Varanasi plant project. BHEL clarified that the products originally planned for this new unit will now be manufactured at existing facilities to optimize capacity utilization and operational efficiency.
​5. Stock Market Reaction
​Despite the triple-digit profit growth, BHEL’s share price faced some volatility, trading near ₹250–₹263 following the announcement. Analysts suggest the market had already priced in high expectations, leading to some “sell on news” behavior, even though long-term visibility remains strong.
​Conclusion
​BHEL’s Q3 FY26 results underscore a successful turnaround story. With a healthy margin expansion and an order book exceeding ₹2.2 Lakh crore, the Maharatna PSU is well-positioned to capitalize on India’s growing energy and infrastructure demands.

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This blog does not provide financial, investment, or trading advice. All content is for educational and informational purposes only. Please consult a certified financial advisor before making any investment decisions. The author will not be responsible for any financial losses incurred.