Maharatna PSU Stock jumps 13% after announcing Q4 results and dividend

Maharatna PSU Stock: India’s public sector heavy engineering giant, Bharat Heavy Electricals Limited—commonly known as BHEL—delivered a stellar performance on Monday, propelling its shares to record levels. Shares of this ‘Maharatna’ company surged by up to 13% during intraday trading on the BSE, reaching a level of ₹398.95—a new all-time high that underscores how strongly the market is rewarding the company’s financial turnaround. For long-term investors who maintained their patience during the lean years, this moment feels incredibly gratifying—a true reward for their perseverance.

Maharatna PSU Stock Q4FY26

The catalyst behind Monday’s massive surge in share prices was BHEL’s Q4FY26 results, which proved to be far stronger than the expectations of most market analysts. The company’s consolidated net profit soared by a massive 156% on a year-on-year (YoY) basis, reaching ₹1,290.50 crore—a significant leap from the ₹504.45 crore recorded in the same quarter last year. Such profit growth—more than doubling within a span of twelve months—is a rarity even among India’s top-performing listed companies today.

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BHEL Revenue and Margins

For the quarter ending March 2026, BHEL reported an operating revenue of ₹12,310 crore, marking a robust 37% increase compared to the ₹8,993 crore recorded during the corresponding period last year. What makes this achievement even more impressive is that the improvement in profitability occurred alongside the growth in revenue—a combination that does not always materialize. EBITDA more than doubled, surging from ₹832 crore to ₹1,754 crore, while the EBITDA margin also expanded sharply from 9.2% to 14.2%—a clear indication that the company is not only growing in scale but is also becoming more efficient in its operational execution.

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Dividend Announcement

Alongside its quarterly results, BHEL’s Board has recommended a final dividend of ₹1.40 per share for the financial year 2026. This payout is contingent upon approval at the company’s Annual General Meeting (AGM); once approved, shareholders can expect to receive the dividend within 30 days of that meeting. It is noteworthy that BHEL has also rewarded its investors with bonus shares on two occasions in the past—once in May 2007 in a 1:1 ratio, and again in September 2017 in a 1:2 ratio—underscoring its history of sharing profits with long-term shareholders.

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Revenue and Expenditure Growth

In the fourth quarter, BHEL’s total expenses rose 28.3% year-on-year to ₹10,842.69 crore, up from ₹8,448.14 crore during the same period last year. While an increase in expenses always warrants close monitoring, the fact that revenue grew at a rate of 37%—compared to the 28.3% growth in expenses—signifies that the company is clearly expanding its margins. This represents a healthy and sustainable trend that both analysts and investors are likely to view as encouraging, as the company continues to enhance its capacity to fulfill its order book.

Five-Year Returns

For those who measure wealth creation in terms of years rather than days, BHEL’s long-term returns chart is truly impressive. On May 7, 2021, the share price stood at a mere ₹57.80. By May 4, 2026, it had surged to ₹398.95—marking a gain of over 565% in just five years. Over a four-year span, the stock has delivered returns exceeding 650%, and even within the last three years alone, investors have witnessed a growth of over 375%. The 52-week low of ₹205.20 now seems like a distant memory, as BHEL continues to break its own records and set new benchmarks.