Bharat Heavy Electricals Limited (BOM:500103)

Bharat Heavy Electricals Income Statement

Financials in millions INR. Fiscal year is April - March.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Operating Revenue	304,652	283,395	238,928	233,649	212,111	173,087
Revenue	304,652	283,395	238,928	233,649	212,111	173,087
Revenue Growth (YoY)	10.36%	18.61%	2.26%	10.15%	22.55%	-19.36%
Cost of Revenue	211,331	190,625	169,800	164,437	149,217	119,943
Gross Profit	93,321	92,770	69,128	69,213	62,894	53,144
Selling, General & Admin	60,775	59,885	56,895	57,651	55,820	54,420
Other Operating Expenses	14,078	16,210	6,783	6,237	-566.9	29,907
Operating Expenses	83,507	84,338	66,367	66,797	59,378	89,834
Operating Income	9,814	8,432	2,761	2,415	3,517	-36,690
Interest Expense	-7,213	-7,093	-6,011	-3,098	-625.4	-681.4
Interest & Investment Income	4,026	4,026	4,938	4,211	3,028	3,209
Earnings From Equity Investments	541.9	590.1	639.8	560.2	504.2	441.4
Currency Exchange Gain (Loss)	1,354	1,354	1,052	4,599	816.2	658.3
Other Non Operating Income (Expenses)	2,439	-45.4	-1,030	-1,862	-2,548	-2,880
EBT Excluding Unusual Items	10,962	7,264	2,349	6,826	4,692	-35,943
Gain (Loss) on Sale of Investments	57.6	57.6	-11.4	-1.6	-56.5	-35.1
Gain (Loss) on Sale of Assets	134.6	134.6	89.2	331.8	69	18.8
Pretax Income	11,154	7,456	2,427	7,156	4,705	-35,959
Income Tax Expense	3,012	2,117	-395.6	614.9	257.5	-8,962
Earnings From Continuing Operations	8,142	5,339	2,822	6,541	4,447	-26,997
Minority Interest in Earnings	-	-	-	-	13.2	25.9
Net Income	8,142	5,339	2,822	6,541	4,460	-26,971
Net Income to Common	8,142	5,339	2,822	6,541	4,460	-26,971
Net Income Growth	56.87%	89.18%	-56.85%	46.65%	-	-
Shares Outstanding (Basic)	3,332	3,482	3,482	3,482	3,482	3,482
Shares Outstanding (Diluted)	3,332	3,482	3,482	3,482	3,482	3,482
Shares Change (YoY)	-8.73%	-	-	-	-	-
EPS (Basic)	2.44	1.53	0.81	1.88	1.28	-7.75
EPS (Diluted)	2.44	1.53	0.81	1.88	1.28	-7.75
EPS Growth	71.69%	88.89%	-56.88%	46.76%	-	-
Free Cash Flow	-	19,104	-39,454	-9,291	4,909	3,096
Free Cash Flow Per Share	-	5.49	-11.33	-2.67	1.41	0.89
Dividend Per Share	-	0.500	0.250	0.400	0.400	-
Dividend Growth	-	100.00%	-37.50%	-	-	-
Gross Margin	30.63%	32.73%	28.93%	29.62%	29.65%	30.70%
Operating Margin	3.22%	2.97%	1.16%	1.03%	1.66%	-21.20%
Profit Margin	2.67%	1.88%	1.18%	2.80%	2.10%	-15.58%
Free Cash Flow Margin	-	6.74%	-16.51%	-3.98%	2.31%	1.79%
EBITDA	11,873	10,558	4,975	4,689	6,235	-32,600
EBITDA Margin	3.90%	3.72%	2.08%	2.01%	2.94%	-18.83%
D&A For EBITDA	2,059	2,125	2,214	2,273	2,718	4,090
EBIT	9,814	8,432	2,761	2,415	3,517	-36,690
EBIT Margin	3.22%	2.97%	1.16%	1.03%	1.66%	-21.20%
Effective Tax Rate	27.00%	28.39%	-	8.59%	5.47%	-
Revenue as Reported	311,790	288,048	244,391	238,536	215,656	176,571
Advertising Expenses	-	22.9	30.8	36.2	19.4	15.5

Source: S&P Global Market Intelligence. Standard template. Financial Sources.