Bharat Heavy Electricals Ltd (BHEL) has recorded its highest-ever annual order inflow in FY25.
In an investor presentation, BHEL said that its order inflow in FY25 was Rs.92,535 crore, making it the highest-ever annual order inflow in any fiscal year thus far.
Interestingly, much of the order inflow was lumped in the January-March (Q4FY25) quarter when Rs.44,588 crore worth of orders were booked, representing 48 per cent of the FY25 total.
BHEL’s order inflow in FY25 was nearly 19 per cent higher than the comparable Rs.77,908 crore in FY24.
The power sector dominated with a share of 87.9 per cent of the total order inflow in FY25. This was significantly higher than the 71.4 per cent share seen in FY24. (See table)
The Industry category saw an order inflow of Rs.11,001 crore in FY25. This accounted for 11.9 per cent of the order inflow in FY25 – a share that was considerably lower than 28.2 per cent in FY24.
BHEL’s operations are broadly classified into three categories – Power, Industry and Exports. Power T&D-related orders fall under the “Industry” category.
Order book
As of March 31, 2025, BHEL’s outstanding order book (net of taxes) stood at an all-time year-end high of Rs.1,96,328 crore. The power sector accounted for 80 per cent of this, followed by Industry with 18 per cent and Exports, 2 per cent.
Orders in FY25
In the power T&D space, BHEL’s major achievement in FY25 was the mega order for building the ±800kV, 6,000 MW HVDC link between Khavda (Gujarat) and Nagpur (Maharashtra). This order, to be executed in consortium with Hitachi Energy India Ltd, was placed by Power Grid Corporation of India Ltd (PGCIL) for its ISTS-TBCB scheme housed under “Khavda V-A Power Transmission Ltd.” (More details available here.)
In FY25, BHEL won orders for power transmission equipment (mainly transformers) worth 33,642 MVA, apart and ten substation packages. Major substation orders included the 765kV AIS substation package at Barmer-I (Rajasthan), and extension of the 765kV Sirohi (Rajasthan) and 400kV Fatehgarh-III (Uttar Pradesh) substations.
In the thermal power generation space, BHEL won orders relating to 14.6 GW of thermal power capacity. This was the highest since the past 10 years, the presentation noted.
On a related matter, BHEL also commissioned/synchronized power generation capacity worth 8.1 GW during FY25.
