Shares of state-run engineering major Bharat Heavy Electricals (BHEL) are likely to attract investors’ attention in Thursday’s trade, 4 June, as the company secured a major international order worth ₹2,000–2,500 crore from Dangote Petroleum Refinery & Petrochemicals Free Zone Enterprise, Nigeria, for the supply of gas turbine generator packages for its refinery and petrochemical project.
In an exchange filing on Wednesday, the company said it has signed a contract agreement with Dangote Petroleum Refinery & Petrochemicals Free Zone Enterprise for the design, manufacturing, supply, and supervision of the erection and commissioning of eight gas turbine generator packages for a petroleum refinery and polypropylene plant located in the Dangote Industries Free Zone, Nigeria.
The company said the contract was signed on June 2, 2026, and the project is scheduled to be completed within 26 months from the effective date of the agreement.
The scope of work includes design, manufacture, supply up to Mumbai Port, supervision of erection and commissioning, and performance guarantee testing of eight gas turbine generator packages, excluding civil works.
BHEL clarified that the contract has been awarded through an international tender and that neither the promoter nor promoter group companies have any interest in the awarding entity. The company also stated that the order does not fall under related-party transactions.
The order wins another significant overseas contract for BHEL and strengthens its presence in the global power and industrial equipment market.
Meanwhile, the company reported a consolidated net profit of ₹1,290.47 crore for the quarter ended March 2026, compared with ₹504.45 crore in the year-ago period, marking a sharp rise of over 156%.
For the full financial year 2025-26, the company’s net profit increased to ₹1,600.26 crore from ₹533.90 crore in the previous year.
Revenue from operations during the quarter came in at ₹12,310 crore as compared to ₹8,993 crore a year ago. For the full financial year, revenue jumped to ₹33,782 crore, compared with ₹28,339 crore in FY25.
Deliver 70% in the last two months
The company’s shares have maintained a strong winning momentum in recent months, with the stock gaining 18% in May after rallying 43% in April, taking the cumulative two-month surge to nearly 70%.
In terms of yearly performance, the stock has delivered positive returns in each of the last five years, with 2023 emerging as the strongest year when the stock surged 144%.
From its 2020 low of ₹18.40 apiece, the shares have skyrocketed 2,155% to trade at the current level of ₹424 apiece. In the current year so far, the stock has advanced another 41.35%.
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