BHEL possible 17 years breakout candidateBharat Heavy Electricals LimitedNSE:BHELTechnicalAnalystSucritBharat Heavy Electricals Ltd. (BHEL) (currently trading near ₹260.40) – Overview BHEL, headquartered in New Delhi, is India’s largest engineering and manufacturing enterprise in the energy and infrastructure sector. Established in 1964, it designs, manufactures, and services a wide range of products including power generation equipment, transmission systems, renewable energy solutions, defense equipment, and industrial systems. BHEL operates across India with 16 manufacturing units, 2 repair units, and 4 regional offices, serving both domestic and international markets. FY22–FY25 Snapshot • Sales – ₹21,210 Cr → ₹23,450 Cr → ₹25,800 Cr → ₹28,200 Cr Growth driven by power sector revival, renewable energy projects, and defense contracts • Net Profit – ₹410 Cr → ₹520 Cr → ₹640 Cr → ₹780 Cr Earnings supported by cost optimization, higher execution, and diversification into defense and renewables • Operating Performance – Moderate → Strong → Strong → Very Strong EBITDA margins improving with better order execution and higher share of non-power business • Dividend Yield (%) – 1.20% → 1.30% → 1.40% → 1.50% Consistent payouts alongside reinvestment into modernization and R&D • Equity Capital – ₹348 Cr (constant) Government of India remains the majority shareholder • Total Debt – ₹1,200 Cr → ₹1,100 Cr → ₹1,000 Cr → ₹950 Cr Gradual deleveraging supported by strong operating cash flows • Fixed Assets – ₹12,500 Cr → ₹12,700 Cr → ₹12,900 Cr → ₹13,100 Cr Capex focused on renewable energy, defense manufacturing, and modernization of plants