BHEL share price: Brokerages see up to 23% upside after Maharatna PSU posts first Q1 profit in 8 years

BHEL reported its first Q1 net profit in 8 years at Rs 377 crore, swinging from a Rs 455.5 crore loss in the year-ago period, while revenue jumped 40 percent YoY to Rs 7,697.72 crore. Operating margin improved sharply to 6.69 percent from negative 9.54 percent, and the order book stands at Rs 2.6 trillion, about 7.2 times TTM sales. Brokerages ICICI Securities and JM Financial maintained Buy ratings with target prices of Rs 520 and Rs 481 respectively, implying up to 23 percent upside.