Bharat Heavy Electricals Limited has informed the Exchange that Board of Directors at its meeting held on May 16, 2025, recommended Final Dividend of Rs. 0.50 per equity share.
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On the reaction day the stock moved 0.7 pts more than Nifty Midcap 150 and 0.2 pts more than its Heavy Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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BHEL's Board approved audited standalone and consolidated financial results for Q4 and FY25 (ended March 31, 2025). Standalone revenue from operations grew ~18.6% YoY to Rs. 28,339 Cr from Rs. 23,893 Cr, while net profit nearly doubled to Rs. 513 Cr from Rs. 260 Cr, driven by a stronger Power segment performance and Rs. 118 Cr reversal of provisions (change in practice around PG-test contractual obligations). Q4 standalone revenue rose to Rs. 8,993 Cr with PAT of Rs. 504 Cr. The Board recommended a final dividend of Rs. 0.50 per share (25% on face value of Rs. 2) for FY25, subject to AGM approval. Auditors issued an unmodified opinion but flagged emphasis-of-matter items, including Rs. 211 Cr stuck in Sudan (civil war) and Rs. 208 Cr dues from RVUNL Suratgarh project, neither provided for.
Sharp profit growth and dividend declaration are positive signals for shareholders. However, operating cash flow turned sharply negative at Rs. (3,935) Cr vs positive Rs. 2,192 Cr last year due to large working capital outflows, which is a concern despite the accounting profit. Large unresolved receivables (Sudan, Suratgarh) remain key risks.