BHEL: Q1 FY27 Results + Technical Outlook

Bharat Heavy Electricals Limited (BHEL) delivered a mixed but improving Q1 FY27 performance. The company reported revenue of around ₹5,487 crore, broadly stable YoY, while the net loss narrowed sharply to approximately ₹455 crore from ₹611 crore in the corresponding quarter last year. The key positive is the improvement in operating performance and the company’s strong order book, supported by continued demand from the power and industrial sectors. However, profitability remains under pressure, and a sustainable turnaround in margins will be crucial for the next leg of growth. Technically, the stock is showing a strong recovery after a period of consolidation. The price is trading above the 10 EMA, 20 EMA, 50 EMA, 100 SMA and 200 SMA, confirming a positive medium- to long-term trend. The stock has reclaimed the ₹420–425 zone and is now trading near ₹430, while RSI at around 65 indicates positive momentum without being in an extreme overbought zone. A sustained close above ₹432–435 can trigger fresh momentum towards ₹450–460, followed by ₹480. On the downside, ₹405–400 is the immediate support zone, while ₹386 remains a stronger positional support. Overall, the Q1 results are mixed on profitability but positive from a revenue-recovery and execution perspective. The technical structure remains bullish, and any dip towards ₹405–400 can be viewed as a healthy accumulation zone. The bullish view remains intact as long as the stock sustains above ₹400.