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BHEL Shares Plunge Following Q4 Results; Analysts Mixed in Recommendations

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Shares of Bharat Heavy Electricals Ltd (BHEL) witnessed a sharp decline of nearly 8% on the BSE following the release of their Q4 results. The stock opened at ₹305 and fell to ₹295 before marginally recovering to trade at ₹304.50.

BHEL, a major player in the power generation equipment sector, reported a 25.6% YoY drop in consolidated net profit for Q4FY24. The revenue from operations saw a marginal increase of 0.4% to ₹8,260 crore. The EBITDA rose 30.6% in the same period.

Several brokerage firms revised their target prices on BHEL post the Q4 results. Nuvama Wealth Management increased the target price to ₹400 from ₹265, citing strong potential in the thermal power sector. Antique Stock Broking maintained a buy rating with a target of ₹360, projecting a significant rise in order intake for BHEL.

JM Financial also backed BHEL with a buy call and a heightened target price of ₹353. On the contrary, Kotak Institutional Equities retained a sell rating, with a fair value estimate of ₹75. The brokerage highlighted concerns regarding BHEL’s order inflows and execution capabilities.

The quarter also saw progress in older projects like North Karanpura and Patratu, which are expected to enhance BHEL’s cash flows by early FY26. The market remains divided by the company’s future growth prospects.

Rachel Adams

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