BHEL Share Price Target 2025: Order For 10,400 MW Project In FY25; Upto 49% Gain? Buy, Sell Or Hold?

Public Sector Undertaking (PSU) Bharat Heavy Electricals Limited (NSE, BSE: BHEL) has already bagged orders for 10,400 MW of projects in FY 2025 setting the tone for the year ahead. The PSU had received orders worth 9600 MW in 2024 and 1320 MW in 2023. Tenders worth 7960 MW are already in the pipeline according to brokerage reports.

With this, the company has, according to reports, bagged orders worth Rs 316 bn (Rs 298 bn power, Rs 17 bn industry, and Rs 1 bn exports) during 2QFY25.

BHEL share price today

On Thursday, December 12, 2024, BHEL stock fell over 3.5 per cent. After opening at Rs 253.80, the stock continued to fall and closed at Rs 244.50 apiece. In doing so, the stock formed a long red candle on daily charts.

BHEL Fundamentals

According to the latest note by JM Financials, currently, 31 GW of thermal power plants are under construction.

With a growing and executable order book, pick up in execution (29% YoY revenue growth in 2QFY25) and, improving margins (4.2%/-3% during 2QFY25/2QFY24), the company has regained its growth trajectory.

The brokerage expects revenue/EBITDA to grow at a CAGR of 30/103% through FY24-FY27E. "We have a BUY on the stock (currently trading at FY27E P/E of 20), with TP of 371 (35x Sep’26EPS)," the brokerage said in its December 10 report.

BHEL Share Price Target 2025

JM Financial has a BUY rating on BHEL stock. When the price of BHEL stock was Rs 249 apiece, the target price for BHEL shares was Rs 371, an upside of 49%.

In its December 10 report, Antique Stock Broking had a BUY rating on BHEL stock. The target price for BHEL stock according to Antique is Rs 364, an upside of 46 per cent.

Interestingly, Kotak Institutional Equities has a SELL rating on BHEL stock. In its December 12 report, Kotak Institutional Equities pegged the share price target for BHEL shares at Rs 110 apiece, a 57 per cent downside. 

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