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BHEL Share Price: The analysts at CLSA shared a ‘Sell’ rating on BHEL with a target price of INR 189 per share, implying a downside of 36% from the current levels. So far this year, the BHEL shares scored over 56 percent outpacing the benchmark Nifty 50 index that rose by 3% during the same period. The shares of Bharat Heavy Electricals Limited (BHEL) tumbled as much as 7.5 - 8% to INR 295 a piece on May 22 after the January - March quarter (Q4 FY24) results missed the street expectations.
BHEL had hit the 52-week high with INR 322 per share on May 21, 2024
BHEL- A Brief Overview
BHEL is one of the largest Engineering & Manufacturing companies of its kind in India, which is engaged in design, engineering, construction, testing, commissioning, and providing other products and services with almost over 180 product offerings catering to the dynamic environment and growing needs of the economy sectors. To know more - visit the official website at bhel.com
What Does the Company Say on the Declined Share Price?
As per the company, the surprise decline of 26% Year-on-Year (YoY) is due to the slow-moving orders. “The company's backlog has grown by 44% YoY in Q4 FY24 as thermal orders picked up, but operationally, a flat execution led to another weak quarter. We believe that the company's thermal business looks bleak beyond FY30”, said the brokerage firm.
Morgan Stanley also shared a target below the current market price, setting it at INR 220 per share, which indicates a downside of 34% as Q4 earnings missed estimates. However, they maintained an ‘equal weight’ rating on BHEL seeing improving earnings visibility with strong orders and a healthy project pipeline.
BHEL's Revenue & Profit Analysis
BHEL's net profit fell 26% YoY to INR 489 Cr. in the Q4 FY24 while revenue rose by 0.4% YoY to INR 8260 Cr. Along with this, the company's EBITDA, also known as the operational profit dropped by 30.6% YoY to INR 728 Cr., while the EBITDA margins squeezed by 400 basis points (bps) YoY to 8%. The PSU firm's board recommended a final dividend price of INR 0.25 per share for FY24.
Going ahead, the analysts at Kotak Institutional Equities believe that focus on execution would be the key for BHEL.
Kotak said that against 1.3x YoY order backlog, the revenue growth guidance is a modest 10-15% YoY. A potential miss in execution would impact the overall working capital for BHEL. Furthermore, BHEL may end up sharing part of pricing gains from the orders with its vendors, limiting the case for margin uptick hereon. They also cautioned sharing a ‘sell’ rating on the counter with a target price of INR 75 per share.
BHEL Share Price - Pros & Cons
Listed below are the Pros and Cons relating to the fluctuation and decline in the BHEL Share Price.
| Pros | Cons |
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BHEL Share Price - Current Statistics
Check the current and latest up-to-date statistics for Bharat Heavy Electricals Ltd. (BHEL) Share Price.
| BHEL Category | Price (INR) |
| Current Price | 301.90 -17.30 (-5.42%) |
| Previous Close | 319.20 |
| Open | 305.00 |
| High | 309.60 |
| Low | 295.00 |
| VWAP | 302.66 |
| 52 week high | 322.35 |
| 52 week low | 77.30 |
| Upper Price Band | 351.10 (10%) |
| Lower Price Band | 287.30 (10%) |
| 2W Avg. Qty. (Lakh) | 15.99 |
| TTQ (Lakh) | 58.78 |
| Turnover (Crore) | 177.91 |
| Mcap Full (Crore) | 1,05,123.49 |
| Mcap FF (Crore) | 38,895.69 |
| Face Value | 2.00 |
| EPS (TTM) | -0.76 |
| CEPS (TTM) | -0.04 |
| PE | -397.24 |
| PB | 4.23 |
| ROE | -1.06 |
| Book Value | 70.2 |
| Dividend Yield | 0.13% |
| ROCE | 2.97% |
BHEL Share Price - Results
| Particulars (In Cr.) | Mar '24 | Dec '23 | FY 23 - 24 |
| Revenue | 8260.25 | 5503.81 | 23,892.78 |
| Net Profit (NP) | 484.36 | -162.77 | 259.89 |
| EPS | 1.39 | -0.47 | 0.75 |
| Cash EPS | 1.59 | -0.29 | 1.46 |
| OPM% | 10.81 | 0.75 | 5.02 |
| NPM% | 5.86 | -2.96 | 1.09 |
BHEL Share Price - Delivery Position
| Particulars | Details |
| Trade Date | 22 May 2024 | 16.26 p.m. |
| Quantity Traded | 58,77,478 |
| Deliverable Quantity (Gross across client level) | 16,85,073 |
| % of Deliverable Quantity to Traded Quantity | 28.67 |
BHEL Share Price - Similar Stocks
Refer the table to understand the stock market values and prices of competitors similar to BHEL.
| Company | Price (Rs.) | PE | PB | Mkt. Cap (Rs.) | 52W L | 52W H |
| Siemens | 7159.30 (-1.72%) | 111.11 | 18.64 | 2,59,401.55 Cr. | 3246 | 7347.00 |
| ABB India | 8413.20 (-1.59%) | 124.71 | 30.55 | 1,81,634.09 Cr. | 3809.50 | 8599.80 |
| Havells India | 1842.95 (-1.28%) | 91.92 | 15.69 | 1,16,826.25 Cr. | 1232.85 | 1874.60 |
| CG Power & Industrial Solutions Ltd. | 641.05 (-0.30%) | 68.60 | 32.52 | 98,138.80 Cr. | 339.10 | 669.00 |
| GE T & D India | 1429.95 (+4.98%) | 349.18 | 30.57 | 34,689.65 Cr. | 176.90 | 1429.95 |
| Apar Industries | 7855.00 (-0.82%) | 38.55 | 8.20 | 31,803.67 Cr. | 2672.00 | 8399.00 |
| Crompton Greaves Computer Electricals Ltd. | 389.25 (-0.36%) | 57.03 | 8.36 | 25,088.04 Cr. | 256.20 | 410.00 |
| Schneider Electrical Infrastructure Ltd. | 909.60 (+2.00%) | 99.89 | 96.69 | 21,327.72 Cr. | 184.65 | 921.10 |
| V Guard Industries Ltd. | 375.30 (+0.27%) | 63.15 | 8.97 | 16,265.58 Cr. | 239.00 | 393.75 |
| Bharat Bijlee | 4451.30 (-4.52%) | 40.27 | 2.84 | 5,292.74 Cr. | 1414.50 | 7000.00 |
Bharat Heavy Electricals Limited - Stock Analysis & Analyst Views
Stock Traders and Investors can utilize the below table to know the BHEL Share Price Patterns and accordingly draw their conclusion on whether to sell, keep, or buy the shares.
BHEL Share Price Analysis
| BHEL Stock Analysis Timeline | Analysis in % |
| 1 week | 10.74 |
| 3 Months | 38.24 |
| 6 Months | 128.65 |
| YTD | 64.92 |
| 1 Year | 302.52 |
BHEL Share Price - Analysts' Views
Ratings | Current | 1W Ago | 1M Ago | 3M Ago |
Strong Buy | 3 | 3 | 3 | 4 |
Buy | 1 | 1 | 1 | 1 |
Hold | 3 | 3 | 3 | 3 |
Sell | 6 | 6 | 6 | 6 |
Strong Sell | 6 | 6 | 6 | 6 |
Total | 19 | 19 | 19 | 20 |