BHEL Q2 profit more than doubles to ₹821 crore

Bharat Heavy Electricals reported September-quarter profit of ₹821 cr, more than double the ₹375 crore reported in the year-ago quarter and above the ₹618-crore profit estimated in the earlier Zee Business preview. NDTV Profit also reported that the EBITDA margin expanded, confirming improvement in operating profitability during the quarter. ⚡

The result is significant for the capital-goods and power-equipment segments because it converts an expected earnings improvement into a reported outcome. The earlier preview had projected 26% year-on-year revenue growth to ₹9,452 crore, EBITDA growth of 50% to ₹871 crore and a margin of 9.2%. The reported profit materially exceeded the preview estimate, although the new report did not provide revenue, EBITDA or the final margin figure. Traders will therefore look for the detailed filing and management commentary to reconcile the profit performance with operating numbers.

OI Charts data showed the stock at ₹442.35 on 13 Oct 2026, up 0.56% on the day, with volume of 15,969,804 shares. It had gained 2.6% over 20 sessions but remained 3.0% below its 52-week high of ₹455.95 recorded on 7 Oct 2026. In derivatives, futures open interest rose 3.7% in a long build-up, with a 0.07% futures premium. The put-call ratio was 0.62 and max pain stood at ₹430 for the 27 Oct 2026 expiry.

The options structure places the largest call open interest at ₹450 and the largest put open interest at ₹400. The ₹450 zone and the recent ₹455.95 high are the immediate levels to watch after the results, while ₹430 remains the expiry max-pain reference. The next market read-through will come from the detailed quarterly numbers, order-book commentary, execution updates and whether margin expansion is sustained. For the wider power-equipment sector, the result provides a reported earnings datapoint rather than only an estimate. 🏭

Source: Zee Business, 13 Oct 2026; NDTV Profit, 14 Oct 2026

Not investment advice. For informational purposes only.