BHEL

What it is: BHEL Ltd is a Maharatna PSU and India’s largest heavy electrical equipment manufacturer, primarily serving the power and infrastructure sectors. Founded: 1964 Headquarters: New Delhi Ministry: Heavy Industries What BHEL Does Power equipment: Boilers, turbines, generators (BTG) for thermal, hydro & nuclear plants Transmission & industry: Transformers, motors, switchgear Renewables & mobility: Solar equipment, EV components, electric locomotives Defence & railways: Propulsion systems, signalling, industrial systems Services: EPC, repairs, overhauls, spares How BHEL Makes Money EPC contracts for power & industrial projects Manufacturing and supply of heavy equipment High-margin services, repairs, and spares over project lifecycle Why Investors Track BHEL Direct beneficiary of India’s power capex revival Strong position in thermal power equipment Turnaround potential with rising order inflows and execution Key Strengths Strategic national importance Large installed base → recurring service revenue Strong order book visibility Beneficiary of Make in India in heavy engineering