BHEL Share Price Target 2025: Brokerage firm Choice Broking initiates coverage on the shares of Bharat Heavy Electricals Limited – (BHEL.NS) with a “Buy” rating and a price target of Rs 370. However, recently the stock has seen some volatility in the market after the company announced an arbitration case against it.
BHEL Share Price Today Updates, 24 Feb, 2025
The BHEL share is trading down by -1.83% at Rs 192.81 on 24 Feb, 2025, as compared to its last closing price of Rs 196.41. The shares touched an intraday high of Rs 194.98 in the last trading session, while the intraday low was at Rs 190.55. The company’s market capitalization, as of 24 Feb, 2025, is at Rs 663.507 billion. BHEL shares recorded a 52-week high of Rs 335.35 and a 52-week low of Rs 183.19. The trading volume on NSE was 8,191,737 shares on 24 Feb, 2025.
BHEL Share Price Target 2025 – Choice Broking
Choice Broking has given a BUY rating on the shares of BHEL with a price target to Rs 370, which is about 90% higher from the current market price. The brokerage expects growth in BHEL due to strong order book in the defense sector, execution capabilities and government’s focus on defense indigenization. BHEL has reported strong Q3FY25, with revenue growth of 39.3% YoY at Rs 57.7 billion, which is much better than estimates. EBITDA grew 55.7% YoY at Rs 16.7 billion, and margins expanded 304 bps to 28.9% due to cost control measures. PAT grew 51.3% YoY at Rs 130.1 billion.
BHEL has a strong order book of Rs 711 billion (3.1x TTM sales). The company aims to win orders worth Rs 250 billion for FY2025 and has already won orders worth Rs 110 billion in 9MFY25. Besides defense, BHEL is also diversifying into non-defense sectors like metro projects and civil aviation, which will contribute 15-20% to revenue in the future. The brokerage expects BHEL to achieve 19.8% CAGR growth in FY24-27, which is possible due to defense modernization, indigenization, and export orders. According to the report, BHEL revenue growth is estimated to be at 19.8% CAGR during FY24-27. EBIDTA margin is expected to be in the range of 24.9% to 25.2%, while EPS may grow from Rs 5.5 in FY24 to Rs 9.24 in FY27.
BHEL.NS: Analyst Price Target
BHEL Financial Performance
| (Rs Bn) | FY25E | FY26E | FY27E |
| Revenue | 241.2 | 284.6 | 338.7 |
| EBITDA | 59.7 | 71.5 | 85.1 |
| EBITDAM (%) | 24.8 | 25.1 | 25.1 |
| Adjusted PAT | 47.2 | 56.9 | 67.6 |
| EPS | 6.5 | 7.8 | 9.2 |
| RoE % | 26.7 | 29.4 | 31.7 |
| ROCE % | 30.9 | 34.3 | 37.2 |
| PE (x) | 43.1 | 35.8 | 30.2 |
| Price to BV (x) | 11.5 | 10.5 | 9.6 |
BHEL Stock Performance Overview
(Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Figw.in. We advise investors to check with certified experts before making any investment decisions.)