₹2,22,800 Cr Order Book: Power Stock jumps after receiving ₹1,500 Cr Order from SAIL

Synopsis: Maharatna stock with 189 percent net profit growth in the recent quarter, and a 54 percent compounded return in the last three years has bagged an order from Steel Authority of India with its order value in the range of Rs 1,200 to Rs 1,500 Crore.

The large-cap Maharatna company, with a strong presence across power, transmission, renewable energy, and oil & gas sectors, gained market attention after securing a Captive Power Plant order from Steel Authority of India Limited for the 4.08 MTPA expansion of its IISCO Steel Plant.

With its market cap of almost Rs 92,000 Cr, Bharat Heavy Electricals Ltd saw its stock hit an intraday high of Rs 266 which is 1 percent higher than the previous close of Rs 263. The company stock has given a compounded return of 54 percent in the last three years.

News

Bharat Heavy Electricals Limited or BHEL received a Letter of Acceptance from Steel Authority of India Limited or SAIL on 17 February 2026. The order is for the Captive Power Plant (CPP-1) package of SAIL’s 4.08 MTPA expansion at IISCO Steel Plant, Burnpur, covering design, engineering, manufacturing, supply, transportation, erection, commissioning, and performance testing. The project is on a turnkey basis excluding civil works, with a commissioning timeline of 39 months. This domestic order is valued between Rs 1,200 and 1,500 crore.

Order Book

As of Q3FY26, the company’s order book stands at Rs. 2,22,800 Crore, with 20 percent are Industry orders including the exports, with the remaining 80 percent are Power orders. Talking specifically about Q2FY26, the company saw an order inflow of Rs 45,900 Crore, this also saw a similar pattern of 24 percent from Industry including the exports, and 76 percent from Power.

During the latest quarter of Q3 FY 2025- 26, the company secured several prominent orders, including EPC works for the 1×800 MW Darlipali STPP Stage-II, the E&M package for the 3×16 MW Chanju-III hydroelectric project, an EPC contract for a 265 TPH gas/oil-fired boiler from an oil refinery, and the supply of interconnecting transformers and 765 kV shunt reactors to transmission utilities and power plants.

Business & Financial Overview

Bharat Heavy Electricals Ltd (BHEL) is an integrated power plant equipment manufacturer engaged in the design, engineering, manufacturing, erection, commissioning, and servicing of products for sectors such as power, transmission, industry, transportation, renewable energy, oil & gas, and defence. 

In the latest quarterly result the company has seen its revenue from operations increase by 16 percent YoY, from Rs 7,277 Cr in Q3FY25 to Rs 8,473 Cr in Q3FY26, while the QoQ increased by 13 percent from Rs 7,512 Cr. The net profits grew by 189  percent going from Rs 135 Cr in Q3FY25 to Rs 390 Cr in Q3FY26, while the QoQ increased by 4 percent from Q2FY26’s Rs 375 Cr.

The company has a 3 year sales CAGR of 10 percent, while the TTM is at 10 percent. The company’s 3 year profit CAGR is at 6 percent, the TTM number is at 57 percent. While the company’s ROCE is still at 5 percent and a ROE of 2 percent.

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