Bharat Heavy Electricals Limited (BOM:500103)

Bharat Heavy Electricals Ratios and Metrics

Market cap in millions INR. Fiscal year is April - March.

Total Valuation

Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Nov 12, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Market Capitalization	1,515,742	855,021	752,300	860,766	244,197	171,840
Market Cap Growth	51.67%	13.65%	-12.60%	252.49%	42.11%	1.23%
Enterprise Value	1,471,712	883,172	792,529	895,940	234,513	158,413
Last Close Price	435.30	244.76	214.90	245.68	69.42	48.54

Price Ratios

Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Nov 12, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
PE Ratio	52.48	53.43	140.91	305.00	37.33	38.53
Forward PE	32.96	30.94	34.29	73.71	137.51	30.14
PS Ratio	4.01	2.53	2.66	3.60	1.05	0.81
PB Ratio	5.67	3.27	3.04	3.52	1.00	0.65
P/TBV Ratio	5.70	3.29	3.06	3.54	1.00	0.65
P/FCF Ratio	17.69	16.29	39.84	-	-	35.01
P/OCF Ratio	16.98	14.65	34.31	-	-	26.03
PEG Ratio	0.59	0.34	0.29	0.86	3.27	5.06

EV Ratios

Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Nov 12, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
EV/Sales Ratio	3.90	2.61	2.80	3.75	1.00	0.75
EV/EBITDA Ratio	42.63	48.36	74.53	180.11	50.02	25.41
EV/EBIT Ratio	47.03	55.34	93.99	324.55	97.10	45.04
EV/FCF Ratio	17.18	16.83	41.98	-	-	32.27

Financial Efficiency

Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Nov 12, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Debt / Equity Ratio	0.23	0.31	0.37	0.36	0.22	0.18
Debt / EBITDA Ratio	1.78	4.30	8.08	16.87	10.87	7.25
Debt / FCF Ratio	0.70	1.56	4.77	-	-	9.84
Net Debt / Equity Ratio	-0.16	-0.11	0.08	0.13	-0.04	-0.08
Net Debt / EBITDA Ratio	-1.33	-1.65	1.84	6.60	-2.05	-3.39
Net Debt / FCF Ratio	-0.51	-0.57	1.04	-0.83	1.03	-4.31
Asset Turnover	0.51	0.47	0.45	0.41	0.41	0.38
Inventory Turnover	1.81	2.00	2.23	2.43	2.47	2.17
Quick Ratio	0.58	1.12	1.12	1.03	0.91	0.95
Current Ratio	1.67	1.59	1.52	1.37	1.24	1.30
Return on Equity (ROE)	11.25%	6.29%	2.17%	1.16%	2.57%	1.70%
Return on Assets (ROA)	2.58%	1.38%	0.83%	0.30%	0.27%	0.39%
Return on Invested Capital (ROIC)	10.10%	4.79%	2.22%	1.08%	0.92%	1.37%
Return on Capital Employed (ROCE)	6.60%	3.60%	2.10%	0.80%	0.70%	1.00%

Yields

Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Nov 12, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Earnings Yield	1.91%	1.87%	0.71%	0.33%	2.68%	2.60%
FCF Yield	5.65%	6.14%	2.51%	-4.58%	-3.81%	2.86%
Dividend Yield	0.32%	0.57%	0.23%	0.10%	0.57%	0.81%
Payout Ratio	16.94%	10.91%	16.38%	49.41%	21.28%	0.07%
Total Shareholder Return	0.60%	0.57%	0.23%	0.10%	0.57%	0.81%

Data Source: S&P Global Market Intelligence Last updated: Oct 14, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 10, 2026

Data Sources Report a data error