BHEL’s order inflow up 42 per cent in Q1FY26, order book crosses Rs.2-trillion mark

Bharat Heavy Electricals Ltd (BHEL) reported an impressive 41.7 per cent year-on-year growth in new order inflows in Q1FY26, backed by a multifold surge in industry-related orders. Power sector orders, however, fell 10 per cent.

In an investor presentation, BHEL said that it recorded Rs.13,445 crore worth of new orders in Q1FY26, marking an impressive 41.7 per cent growth over the comparable Rs.9,488 crore in Q1FY25.

The Q1FY26 order inflow was bolstered by the industry sector that witnessed a new order inflow of Rs.5,825 crore – nearly six times the corresponding Rs.988 crore in Q1FY25. It may be noted that industry-sector orders also include exports, which generally have a small share.

It is pertinent to note that power T&D-related orders fall under the “industry” classification of BHEL. In this sector, the biggest order was that for design and execution of the 6,000 MW, ±800kV Bhadla-Fatehpur HVDC terminals. Placed by Adani Energy Solutions Ltd for its ISTS-TBCB project housed under “Rajasthan Part I Power Transmission Ltd”, this order will be executed in consortium with Hitachi Energy. (Read T&D India story dated April 3, 2025).

Incidentally, the same consortium, in FY25, was also awarded a similar HVDC-related contract by Power Grid Corporation of India Ltd for its Khavda-Nagpur link. (Read T&D India story dated November 26, 2024)

Industry-related orders in Q1FY26 also included supply orders for eight 315 MVA, 400kV transformers, eight 160 MVA auto transformers and one 500 MVA, 400kV transformer, collectively placed by different utilities.

In the “power” sector, which typically includes power generation-related equipment and services, BHEL, in Q1FY26, won a mandate for supply, erection and commissioning of 6×800-MW supercritical steam turbine generators. This order, of estimated value of Rs.6,500 crore (excluding taxes) was placed by Adani Energy Solutions Ltd.

 

Order book

As of June 30, 2025, BHEL’s outstanding order book position (net of taxes) crossed the Rs.2-trillion mark, touching Rs.2,04,375 crore as against Rs.1,35,348 crore on June 30, 2024.

The share of power sector orders in the total order book was 79 per cent as of June 30, 2025, as compared with around 75 per cent last year.

 

Featured photograph (source: BHEL) shows a 400/110kV AIS commissioned by BHEL for Tamil Nadu Transmission Corporation Ltd, in Tamil Nadu.