BHEL’s shares jumped 4.5% to ₹462 on the BSE after unveiling a Q2 net profit of ₹810 crore, more than double the ₹368 crore posted a year earlier.
Revenue surged 23.8% to ₹9,300 crore, eclipsing the ₹9,236 crore consensus, while EBITDA rose 77% YoY to ₹1,026 crore, beating the ₹881 crore forecast. The EBITDA margin expanded to 11% from 7.7%, the highest in a quarter over the past 13 years.
Power‑segment revenue grew 16.95% to ₹6,637.9 crore and the industry segment jumped 45% to ₹2,662.5 crore. BHEL’s outstanding order book hit ₹2.57 lakh crore, up 17.27% YoY, with key wins in hydro, traction transformers, and green‑ammonia compressors.
Operating cash flow turned positive at ₹1,907 crore from a negative ₹1,182 crore a year earlier, yet capacity ramp lagged, reaching 2,260 MW versus a guidance of 4,790 MW.
The board approved a ₹500 crore investment in Haridwar’s thermal and nuclear facilities, and analysts are now targeting the 13‑year high EBITDA margin as Q3 guidance approaches.