BHEL: Old Engine, New Orders – Can This PSU Dinosaur Still Roar?
1. At a Glance
BHEL is India’s OG engineering PSU. It builds thermal power plants, gas turbines, transformers, and your patience. After a decade of underperformance, it’s now flexing ₹6,500 Cr orders and a multibagger tag. But… ROE is still 2%.
2. Introduction with Hook
Imagine your grandfather suddenly got into CrossFit and crypto. That’s BHEL. A sleepy PSU now pumping iron with mega orders from Adani Power, buzzing retail frenzy, and turning profitable again—after years of “what even is margin?”
Market Cap: ₹89,628 Cr
FY25 Net Profit: ₹534 Cr (up from ₹282 Cr FY24)
P/E: 168x — LOL, for a company that runs on coal AND nostalgia
3. Business Model (WTF Do They Even Do?)
BHEL builds everything that makes India run on electricity (and bureaucracy):
Thermal Power Equipment (Turbines, Boilers, Generators)
Transmission Systems
Transport (Railway Locos)
Defence Components
Solar + Nuclear + Gas Projects
They design, engineer, erect, commission, and fight court cases.
