BHEL Share Price Gains Over 1.5% on October 3, Here’s Why!

BHEL secured Notifications of Award from M.P. Power Generating Company for EPC packages of two 660 MW supercritical thermal power plants: Amarkantak Unit 6 and Satpura Unit 12, valued between ₹13,000–15,000 crore, with a 57‑month completion timeline from award.

Separately, BHEL received GST show cause notices totaling ₹586.43 crore from Telangana authorities for FY22–FY24 under Section 73; the company has also disclosed a favourable appellate order setting aside an earlier GST demand in a separate matter.

BHEL Secured Award from M.P. Power Generating Company

BHEL has received Notifications of Award from M.P. Power Generating Company Ltd. for two EPC packages: 1x660 MW Amarkantak Unit 6 and 1x660 MW Satpura Unit 12 in Madhya Pradesh, covering supply, erection, commissioning, and civil works under an open tender route. The completion schedule for each unit is 57 months from the NOA date of September 29, 2025, indicating commissioning timelines into FY2030, subject to execution progress and site readiness. 

The broad consideration is indicated in the range of ₹13,000–₹15,000 crore, excluding taxes and duties, with BHEL confirming no related-party linkage or promoter interest with the awarding entity.

GST show cause notice for BHEL

Separately, BHEL disclosed receipt of a combined Show Cause Notice for FY2019‑20 to FY2022‑23 from the Additional Commissioner of Central Tax, Mysuru Audit Commissionerate under Section 74 of the CGST Act, subsequent to a departmental audit under Section 65. The SCN amount indicated is ₹65.75 crore plus applicable interest and penalty, with issues largely around classification, input tax credit reconciliation, and outward supply reconciliation, and no immediate penalties or restrictions imposed. 

BHEL states there will be no material impact on financials, operations, or activities from the SCN and plans to file a detailed reply within prescribed timelines, asserting the demand is not tenable.

Read More: BHEL Share Price in Focus After Bagging 2 Major Thermal Power Projects in Madhya Pradesh!

Key Focus Areas

Going forward, execution ramp-up, receivable collection, and cost control remain critical for BHEL. Progress on the Amarkantak and Satpura EPC contracts, timely delivery of KAVACH systems, and conversion of the LOI from MB Power are expected to be near-term catalysts. However, margin recovery will depend on managing input costs and accelerating project timelines.

Bharat Heavy Electricals Share Price Performance

On October 3, 2025, Bharat Heavy Electricals share price opened at ₹240.50 on NSE, above the previous close of ₹240.17. During the day, it surged to ₹246.29 and dipped to ₹240.00. The stock is trading at ₹244.10 as of 1:28 PM. The stock registered gains of 1.64%.

Over the past week, it has moved up by 5.67%, over the past month, it has moved up by 15.64%, and over the past 3 months, it has declined by 5.04%.

Conclusion

While BHEL’s Q1 FY26 financials remain under pressure, its ₹2,00,000 crore order book and recent contract wins support future revenue visibility. The company's performance in execution and cash flow conversion will be key to sustaining investor confidence.

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