BHEL Q4 Profit Nearly Doubles, Stock Hits 52-Week High

BHEL Stock Surges to 52-Week High After Q4 Earnings Beat [BHEL](/stock/BHEL) (NSE: BHEL) hit ₹399 intraday on May 4, 2026 — a 52-week high — after reporting Q4 FY26 results that showed net profit nearly doubling year-on-year. Revenue growth was sharp, operating margins expanded meaningfully, and the company declared a dividend of ₹1.40 per share. The stock was up over 7% at its peak, outpacing the Nifty PSU index by a wide margin on the day. To put the earnings quality in plain terms: BHEL isn't just selling more — it's keeping more of what it earns. Margin expansion alongside revenue growth is the combination that institutional desks watch for, because it signals pricing power and operational discipline, not just a cyclical order rush. When a capital goods company shows both lines moving in the right direction at the same time, the re-rating tends to stick. The ₹1.40 dividend matters too. At the current price range, the yield is modest — but the signal isn't about yield. It's that management is confident enough in cash flows to return capital. For a PSU that spent years struggling with working capital and delayed receivables, that's a meaningful shift in tone. PSU Capital Goods Sector: Spillover Into BEL, NTPC, POWERGRID BHEL's results didn't move in isolation. The broader PSU capital goods and power infrastructure space caught a bid on the same session. [BEL](/stock/BEL) (NSE: BEL) traded higher as defense and electronics-linked PSU names rode the sentiment wave. NTPC (NSE: NTPC) and POWERGRID (NSE: POWERGRID) — both tied to India's power capacity buildout that directly feeds BHEL's order pipeline — saw supportive price action as well. NHPC (NSE: NHPC) firmed up on hydro capacity optimism. The connection between these names is structural, not coincidental. BHEL supplies turbines, boilers, and electrical equipment to power plants that NTPC and NHPC operate. When BHEL's order book grows, it's a forward indicator for power generation capacity additions — which ...