BHEL Invests Big in Coal India JV, Eyes Rail Maintenance Deal

BHEL, the heavyweight in India’s engineering landscape, has greenlit a massive ₹3,064.46 crore investment over four years in a joint venture with Coal India. Detailed in an exchange filing, the move targets Bharat Coal Gasification and Chemicals Limited (BCGCL), with BHEL taking 49% equity against Coal India’s 51%.

The JV’s flagship project: a coal-to-ammonium nitrate plant producing 2,000 tons daily, advancing India’s coal utilization for chemicals and fertilizers.

Simultaneously, BHEL approved a partnership with Titagarh Rail Systems for Vande Bharat sleeper train upkeep, diversifying beyond traditional power equipment. Both JVs await DIPAM clearance for finalization.

Trading update: BHEL shares fell 2.75% to ₹253 on NSE Thursday, amid weekly 4.60% and YTD 13.19% declines. Positively, six-month gains hit 6.67%, yearly 23%.

Q3 FY26 financials impressed, with net profit at ₹382.49 crore—up from ₹124.77 crore YoY. Revenue rose 16.4% to ₹8,473.10 crore, thanks to power and industrial segments. The ongoing OFS for government’s 5% stake divestment, floored at ₹254/share, keeps markets engaged.

As BHEL bridges energy and transport sectors, this could herald a new era of growth, leveraging India’s resource base for industrial innovation.