BHEL
Bharat Heavy Electricals Limited
Each stock's 10,000-path forecast, rendered as light.
Bharat Heavy Electricals Limited (BHEL) Stock Analysis & Case Study
Is BHEL a good buy? The data-driven verdict.
Bharat Heavy Electricals Limited (BHEL) trades at ₹405,on the numbers it tread carefully, a Downstox Snapshot Score of 33/100.
On the numbers, Bharat Heavy Electricals Limited (BHEL) tread carefully, a Downstox Snapshot Score of 33/100, weighing expensive at 58.0× earnings, ROE of 6.2%, a 56% model probability of trading higher in a year. Below: the full bull case, bear case, sector-relative valuation, and a probability-weighted price target for 2027-2031.
Last updated . Data snapshot for research, not investment advice.
BHEL fundamentals at a glance, PE, PB, ROE, ROCE, market cap, dividend yield
How BHEL ranks against the 2,373 companies in our screener
- BHEL's market cap of 1.41L Cr ranks in the top 3% of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
- BHEL's book value of ₹75 ranks in the 44th percentile of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
- BHEL's promoter holding of 58.2% ranks in the 48th percentile of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
- BHEL's 3-year profit (PAT) growth of 36.0% ranks in the 75th percentile of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
- BHEL's 3-year revenue growth of 13.0% ranks in the 58th percentile of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
- BHEL's debt-to-equity ratio of 0.31x is lower than 50% of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
Is BHEL overvalued? BHEL P/E vs its Capital Goods
BHEL's P/E of 58.0× sits above the Capital Goods peer median of 58.0×, so on earnings it screens in line with peers, while its 0.35% dividend yield is below the peer median of 0.46%.
BHEL share price target 2027, 2028, 2029, 2030, 2031, a probability view
Unlike a single guessed number, this is a probability-weighted range from a 10,000-path Monte-Carlo simulation on 9.8y of BHEL history (15%/yr drift, 37%/yr volatility).
| Year | Low (P10) | Median target (P50) | High (P90) | Upside vs today |
|---|---|---|---|---|
| BHEL 2027 | ₹264 | ₹426 | ₹687 | +5% |
| BHEL 2028 | ₹230 | ₹449 | ₹874 | +11% |
| BHEL 2029 | ₹208 | ₹472 | ₹1,074 | +16% |
| BHEL 2030 | ₹194 | ₹497 | ₹1,272 | +23% |
| BHEL 2031 | ₹180 | ₹523 | ₹1,514 | +29% |
Median (P50) is the central estimate; the P10-P90 band is the 80% confidence range. Probabilities, not promises.
What is the probability BHEL goes up, or doubles?
The bull case for BHEL
- Bharat Heavy Electricals Limited is part of the nifty50 universe with live, tracked fundamentals on Downstox.
- Upside scenario: the model's optimistic (P90) 3-year path reaches ₹1,074.
The bear case & risks
- BHEL's P/E of 58.0x is lower than 22% of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
- BHEL's return on equity of 6.2% ranks in the 34th percentile of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
- Downside scenario: the model's pessimistic (P10) 3-year path falls to ₹208.
BHEL volatility & expected range, how bumpy is the ride?
Over the last 9.8 years BHEL compounded at 15%/year with annualized volatility of 37%. That volatility implies a 1-year 80% range of ₹264-₹687, the honest backbone behind any single price target.
BHEL price forecast, the full 60-month probability fan
BHEL price probability fan
Each band shows where 10,000 simulated paths land. The wider the fan, the more uncertainty.
Probability of key outcomes
What are the odds BHEL hits common targets within the simulated horizon?
Full multi-horizon detail on the BHEL price target & forecast page.
BHEL Piotroski F-Score: 6/8, how financially strong is it?
The Piotroski F-Score grades financial strength on profitability, leverage and efficiency checks. Downstox scores the eight checks it can verify from published filings, so 8 is full marks. BHEL scores 6/8, mixed financial health.
BHEL MTF margin & leverage across 10 brokers
Margin Trading Facility lets you buy BHEL with part of the capital. Lower margin % = higher leverage. Rates compared across 10 brokers (no competitor publishes this):
| Broker | Margin required | Approx. leverage |
|---|---|---|
| Upstox | 29.56% | 3.4× |
| Zerodha | 28.20% | 3.5× |
| Groww | 28.27% | 3.5× |
| DhanCHEAPEST | 26.02% | 3.8× |
| Kotak Neo | 26.04% | 3.8× |
| Paytm Money | 26.79% | 3.7× |
| Pocketful | 33.51% | 3.0× |
| Anand Rathi | 33.02% | 3.0× |
| Bajaj Broking | 27.00% | 3.7× |
| Share India | 33.17% | 3.0× |
Compare every broker on the BHEL MTF page.
BHEL vs peers,Capital Goods comparison
| Stock | P/E | Div yield | Market cap |
|---|---|---|---|
| BHEL (this stock) | 58.0× | 0.35% | ₹1.41L Cr |
| SIEMENS | 50.0× | 0.46% | ₹1.40L Cr |
| CUMMINSIND | 61.7× | 1.22% | ₹1.50L Cr |
| ABB | 104.0× | 0.52% | ₹1.61L Cr |
| CGPOWER | 109.0× | 0.15% | ₹1.38L Cr |
| POLYCAB | 48.5× | 0.51% | ₹1.39L Cr |
| KEI | 53.7× | 0.08% | ₹53,536 Cr |
Fundamentals from Screener.in, as of 9 Aug 2026
About Bharat Heavy Electricals Limited: sector, index & market-cap context
Bharat Heavy Electricals Limited (BHEL) is a large-cap NSE-listed company in the Capital Goods sector, and a constituent of the Nifty 500 index, with a market capitalisation of ₹1.41L Cr. See more stocks on our screener.
How the BHEL Snapshot Score & forecast are built
The Downstox Snapshot Score is a transparent, rules-based read of Bharat Heavy Electricals Limited's public fundamentals plus a statistical forecast, not an analyst opinion. It rewards low-to-fair valuation, high ROE/ROCE, a strong Piotroski F-Score, a dividend, low volatility and a favourable probability of upside; it penalises rich valuations, weak capital efficiency, a low F-Score and high volatility. The price target is a 10,000-path Monte-Carlo simulation on real historical volatility, a distribution, not a single guess. The bull and bear cases are generated from the same data, so you always see both sides.
This is information, not investment advice. Do your own due diligence and consult a SEBI-registered adviser before investing.
BHEL analysis, FAQs
Is Bharat Heavy Electricals Limited (BHEL) a good buy?
On the numbers, Bharat Heavy Electricals Limited (BHEL) tread carefully, a Downstox Snapshot Score of 33/100, weighing expensive at 58.0× earnings, ROE of 6.2%, a 56% model probability of trading higher in a year. This is a data snapshot for research, not investment advice.
Is BHEL overvalued or undervalued?
BHEL trades at 58.0× earnings versus a peer median of 58.0×, so it screens richer than its Capital Goods peers.
What is the BHEL share price target for 2031?
BHEL's probability-weighted 2031 median target is ₹523, with an 80% range of ₹180-₹1,514 (10,000-path Monte-Carlo).
What is the probability BHEL doubles in 5 years?
The modelled probability of BHEL reaching ₹810 (2×) within 5 years is 30%.
What is the bull case for BHEL?
Bharat Heavy Electricals Limited is part of the nifty50 universe with live, tracked fundamentals on Downstox.
What are the risks in BHEL?
BHEL's P/E of 58.0x is lower than 22% of the 2,373 NSE companies in our screener, as of 9 Aug 2026. BHEL's return on equity of 6.2% ranks in the 34th percentile of the 2,373 NSE companies in our screener, as of 9 Aug 2026.