Bharat Heavy Electricals Limited (BHEL) — Financial Flexibility Index
Bharat Heavy Electricals Limited (BHEL) has a Financial Flexibility Index of -0.02x as of September 2025. Free cash flow of Rs-9.52 Billion (operating CF Rs-11.82 Billion minus capex Rs2.30 Billion) represents 0% of total liabilities (Rs475.72 Billion). Check BHEL PP&E to net assets ratio to assess the company's strategic physical and investment asset allocation.
Financial Flexibility Index
Free Cash Flow
Total Liabilities
Capital Expenditures
Bharat Heavy Electricals Limited Financial Flexibility Index (2004–2026)
Historical Financial Flexibility Index trend for Bharat Heavy Electricals Limited across 23 annual periods. See BHEL working capital ratio to evaluate short-term liquidity relative to the company's equity base.
Annual Financial Flexibility Index for Bharat Heavy Electricals Limited (2004–2026)
Year-by-year free cash flow to debt coverage for Bharat Heavy Electricals Limited. For the full company profile including market capitalisation, see Bharat Heavy Electricals Limited (BHEL) market capitalisation.
| Year | Flexibility Index | Free Cash Flow (INR) | Operating CF | Total Liabilities | YoY Change |
|---|---|---|---|---|---|
| 2026 | 0.13x | Rs64.05 Billion | Rs58.16 Billion | Rs500.39 Billion | ▲ +124.4% |
| 2025 | 0.06x | Rs24.73 Billion | Rs21.92 Billion | Rs433.61 Billion | ▲ +156.7% |
| 2024 | -0.10x | Rs-34.80 Billion | Rs-37.13 Billion | Rs345.67 Billion | ▼ -492.4% |
| 2023 | -0.02x | Rs-5.53 Billion | Rs-7.42 Billion | Rs325.42 Billion | ▼ -160.9% |
| 2022 | 0.03x | Rs8.30 Billion | Rs6.60 Billion | Rs297.37 Billion | ▲ +0.6% |
| 2021 | 0.03x | Rs8.12 Billion | Rs5.62 Billion | Rs292.68 Billion | ▲ +136.3% |
| 2020 | -0.08x | Rs-24.57 Billion | Rs-28.92 Billion | Rs321.33 Billion | ▲ +27.0% |
| 2019 | -0.10x | Rs-34.60 Billion | Rs-38.86 Billion | Rs330.54 Billion | ▼ -357.2% |
| 2018 | 0.04x | Rs12.70 Billion | Rs9.89 Billion | Rs312.14 Billion | ▲ +32.2% |
| 2017 | 0.03x | Rs8.92 Billion | Rs5.36 Billion | Rs289.60 Billion | ▼ -33.1% |
| 2016 | 0.05x | Rs16.79 Billion | Rs3.12 Billion | Rs364.71 Billion | ▲ +47.3% |
| 2015 | 0.03x | Rs11.47 Billion | Rs8.21 Billion | Rs366.80 Billion | ▼ -78.5% |
| 2014 | 0.15x | Rs61.16 Billion | Rs45.12 Billion | Rs420.82 Billion | ▲ +70.8% |
| 2013 | 0.09x | Rs35.06 Billion | Rs17.51 Billion | Rs412.15 Billion | ▲ +304.0% |
| 2012 | 0.02x | Rs8.85 Billion | Rs-7.01 Billion | Rs420.22 Billion | ▼ -82.9% |
| 2011 | 0.12x | Rs48.85 Billion | Rs26.99 Billion | Rs395.81 Billion | ▲ +20.6% |
| 2010 | 0.10x | Rs33.58 Billion | Rs16.30 Billion | Rs328.04 Billion | ▼ -39.0% |
| 2009 | 0.17x | Rs48.19 Billion | Rs34.63 Billion | Rs287.31 Billion | ▼ -20.1% |
| 2008 | 0.21x | Rs41.81 Billion | Rs34.78 Billion | Rs199.16 Billion | ▼ -6.7% |
| 2007 | 0.22x | Rs32.64 Billion | Rs28.21 Billion | Rs145.09 Billion | ▲ +27.1% |
| 2006 | 0.18x | Rs19.25 Billion | Rs16.24 Billion | Rs108.78 Billion | ▲ +57.4% |
| 2005 | 0.11x | Rs10.10 Billion | Rs8.18 Billion | Rs89.83 Billion | ▼ -58.6% |
| 2004 | 0.27x | Rs18.68 Billion | Rs16.96 Billion | Rs68.77 Billion | — |