BHEL's Credit Rating Upgraded to 'CRISIL AA / Stable'
Mumbai, July 3, 2026: Bharat Heavy Electricals Limited (BHEL) has announced a credit rating upgrade by CRISIL Ratings, reflecting the company's improved operational and financial performance .
Key Rating Action
CRISIL Ratings has upgraded BHEL's long-term rating to 'CRISIL AA / Stable' from the earlier 'CRISIL AA- / Stable' . The short-term rating has been reaffirmed at the highest level, 'CRISIL A1+'.
|
Facility |
Rating |
Action |
|---|---|---|
|
Long-Term Rating |
CRISIL AA / Stable |
Upgraded from CRISIL AA- |
|
Short-Term Rating |
CRISIL A1+ |
Reaffirmed |
|
Total Bank Loan Facilities |
₹80,000 Crore |
— |
Rationale Behind the Upgrade
The rating upgrade is based on BHEL's operational and financial performance up to and including FY 2025-26. The company's revenue from operations for FY 2025-26 stood at ₹33,782 Crore, with a net profit of ₹1,600 Crore .
This marks the second credit rating upgrade for BHEL in recent weeks. Earlier in June 2026, CARE Ratings had also upgraded the company's long-term rating to 'CARE AA' from 'CARE AA-' .
Stock Market Context
BHEL shares have delivered a 45% return in the first half of 2026, extending positive annual returns to six consecutive years . The company has secured robust order inflows of approximately ₹75,000 crore in FY26, with power projects accounting for around ₹59,000 crore .
Regulatory Disclosure
The information was submitted to BSE Limited and National Stock Exchange of India Ltd under Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.