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Bharat Heavy Electricals stock: key metrics
BHEL.NSBharat Heavy Electricals had an operating margin of 6% and a return on invested capital (ROIC) of 6.2% in fiscal 2026.
Margins show how much of revenue is left over, returns on capital how hard the invested money works.
Daily figure as of 13 Nov 2026
Margins
- Gross margin
- Operating margin
- Net margin
Figures as a table
| Year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| 2007 | 55.4% | 21.9% | 14.0% |
| 2008 | 57.9% | 23.1% | 14.8% |
| 2009 | 55.6% | 18.4% | 11.8% |
| 2010 | 59.8% | 20.1% | 13.1% |
| 2011 | 63.0% | 19.4% | 14.5% |
| 2012 | 54.3% | 19.2% | 14.8% |
| 2013 | 53.2% | 17.7% | 13.8% |
| 2014 | 42.1% | 9.2% | 8.9% |
| 2015 | 36.4% | 4.8% | 4.8% |
| 2016 | 16.8% | −8.9% | −2.8% |
| 2017 | 29.7% | 0.6% | 1.7% |
| 2018 | 33.6% | 1.5% | 1.6% |
| 2019 | 34.1% | 4.7% | 3.4% |
| 2020 | 26.6% | −4.9% | −7.2% |
| 2021 | 27.2% | −23.6% | −16.6% |
| 2022 | 26.6% | 2.1% | 2.2% |
| 2023 | 26.4% | 0.4% | 2.9% |
| 2024 | 26.7% | 0.8% | 1.2% |
| 2025 | 31.1% | 3.0% | 2.0% |
| 2026 | 11.9% | 6.0% | 4.7% |
Returns on capital
- ROE
- ROIC
- ROA
Figures as a table
| Year | ROE | ROIC | ROA |
|---|---|---|---|
| 2007 | 27.5% | 27.5% | 10.4% |
| 2008 | 26.5% | 29.2% | 9.3% |
| 2009 | 24.1% | 26.1% | 7.5% |
| 2010 | 27.2% | 29.8% | 8.9% |
| 2011 | 30.0% | 29.5% | 10.1% |
| 2012 | 27.9% | 47.0% | 10.5% |
| 2013 | 21.9% | 27.0% | 9.3% |
| 2014 | 10.6% | 9.7% | 4.7% |
| 2015 | 4.2% | 3.7% | 2.0% |
| 2016 | −2.1% | −7.0% | −1.0% |
| 2017 | 1.4% | 0.5% | 0.7% |
| 2018 | 1.4% | 1.0% | 0.7% |
| 2019 | 3.3% | 3.2% | 1.6% |
| 2020 | −5.1% | −3.0% | −2.4% |
| 2021 | −10.4% | −11.8% | −4.9% |
| 2022 | 1.7% | 1.7% | 0.8% |
| 2023 | 2.6% | 0.4% | 1.1% |
| 2024 | 1.2% | 0.7% | 0.5% |
| 2025 | 2.2% | 2.1% | 0.8% |
| 2026 | 6.1% | 6.2% | 2.1% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2026, period end 31 Mar 2026
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = ₹94.0836)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 17 Jul 2026)
- Valuation signal Overvalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.