BHEL Share Price Target 2026: Brokerage firm JM Financial has maintained Buy rating on BHEL shares. The brokerage said that BHEL is set to begin FY27 with an order book of at least Rs 2.5 trillion. Besides, 24GW of new projects are under planning and may be awarded during FY27–29.
To expedite execution, the government has allowed it to import 21 critical input materials from China, which is also margin accretive.
BHEL Share Price Target 2026
JM Financial has set a target price of Rs 345 on BHEL shares.
BHEL share price closed in the green at Rs 251.40 on the National Stock Exchange (NSE) on Wednesday (April 1). BHEJ share price target 2026 by JM Financial implies an upside of more than 20 per cent from Wednesday's closing.
BHEL Share Price Target 2026: Impact Of Gas Shortage
JM Financial, however, said that the shortage of gases could impact BHEL operations.
JM Financial estimates BHEL revenue shortfall of Rs 25 to 30 billion in 4Q to Rs 315 billion versus Rs 335 billion.
A prolonged Middle East conflict could necessitate downward revisions to FY27 estimates, the brokerage said.
BHEL Share Price Target 2026: EBITDA Margin Expansion
The brokerage has estimated BHEL's EBITDA margin to expand from 4.4 per cent in FY25 to at least 10.7 per cent in FY28 and EPS to grow from 1.5 in FY25 to 12 in FY28.
BHEL Share Price Target 2026: Rs 13500 Crore Order
Meanwhile, BHEL recently won an order worth Rs 13,500 crore from NTPC for the main plant package of 2,400 MW Telangana Stage-II thermal power plant.
