NSECopy of Newspaper Publication5d ago · 15 Oct 2026, 04:04 pm
Copy of Newspaper Publication
Bharat Heavy Electricals Limited · BHEL
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Bharat Heavy Electricals Limited has published its unaudited financial results for the quarter and half-year ended September 30, 2026, in the Financial Express and Jansatta newspapers.
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Earnings Impact5/10
Growth Catalyst2/10
Governance Concern1/10
Regulatory Risk1/10
Balance Sheet Risk2/10
Liquidity Impact8/10
Market Sentiment5/10
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Bharat Heavy Electricals Limited has informed the Exchange about Copy of Newspaper Publication
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भारत हेवी इले(cid:304)(cid:387)(cid:332)क(cid:676) िलिमटेड
Bharat Heavy Electricals Limited
(भारत सरकार का उप(cid:354)म / A Government of India Undertaking)
CIN: L74899DL1964GOI004281
From: Dr. Yogesh R Chhabra, Company Secretary,
BHEL, BHEL House, Siri Fort, New Delhi – 110049
To: 1. BSE Limited, Mumbai
2. Na(cid:415)onal Stock Exchange of India Ltd., Mumbai
Sub: Published Financial Results for the quarter & half-year ended
30th September, 2026
Please find enclosed a copy each of the Unaudited Financial Results of BHEL for the
quarter & half-year ended 30th September, 2026, published in “Financial Express”
(English) & “Jansatta” (Hindi) newspapers on 15th October, 2026, for your information
& record.
No. AA/SCY/SEs
Date: 15.10.2026
(Dr. Yogesh R Chhabra)
Company Secretary
shareholderquery@bhel.in
पंजीकृत काया(cid:330)लय : बीएचईएल हाउस, िसरी फोट(cid:330), नई िद(cid:671)ी - 110049 | फोन : 011-66337598 | ईमेल : contactus@bhel.in
Registered Office: BHEL HOUSE, Siri Fort, New Delhi - 110049 | Phone: 011-66337598 | E-mail: contactus@bhel.in
~ www.bhel.com ~ BHELOfficial £t BHEL_lndia 0 BHEL_lndia ~ bhel.india (m company/bhel
WWW.FINANCIALEXPRESS.COM THURSDAY, OCTOBER 15, 2026
ECONOMY 1(31
FINANCIAL EXPRESS
! NIIFbets f 7. 6K cr on data centre push
PRE-FY1 iNVEsTMENTsG~ o!ATHEREo
lndla-Maur1t1us tax treaty
. ~"b'..~~';:°!;,SAl<ATDAS SANJIVAGGARWAI., ~~=inthenextfewqua,-
d d t b October 14 CEO, NIIF Set up by PM Narendra fiscal year 2035, extendmg
amen e OC ur misuse --- Mocli's government in 2015, beyondcapacityadditionsinto
JNDIA'S Q.UASt-SOVEREIGN Datacentresisanew NUFnowmanagesaroundS7 relatedinfrastructureandser-
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centresandrelatedbusinesses, lot of climateinvestments.It'sbacked tion from us: Aggarwal said.
S NH eU wB DH eA lhM i, R OA cN toA b er 14 EVOLVING DEAL i Inm gp to rr et aa tn yt -l sy p, et ch ia fit c t h ge ra e nx di fs at =~=~~~~%e;:: attention ~!e;.1::1~:~ :~~=~~~:=
THE FINANCE MINISTRY has (cid:127) The tax authorities can now oth ue tr si in dg e p Itr so v pis ui ro vn ies w r ,e • m sa ai in d inve Ts ht em Ne an tt is o. n allrnerunent and from US T Ine vm ea sts mek e nH t o Ald ul tn hg os r, iA tyb au n dD Aha ub s-i men Gt lf oo br ain l it ne vm ea stt ofo rsn ha all vm e pe ost u~ r ed
amended the India-Mauri deny treaty benefits to a Kunal Shah, partner at Price Infrastructure Fund {NIIF) ls trallanSuper. billions of dollars Into Indian
tius Double Taxation Avoid Mauritius-based investor if Waterhouse & Co. lil<elytodrawasmuchas$3.2btl- Between $700 miWon to $BOO AsglobaldemandforAloom- roads, renewable energy, ware-
ance Agreement (DTAA) by obtaining the benefits was •This provided much lionlninvestmentsforoneofits millionofthatwillgotodatacen- putingcapadtyhasaccelerated, housesanddatacentres,comple
introducing a Principal Pur one oft he purposes of an needed clarity on the scope entities,ChiefExecutiveOfficer tres,hesaid. Indiahassoughttostrengthenits menting a government lnfra-
pose Test (PPT) to curb mis arrangement or transaction and application of the new Sanjiv Aggarwal said in an inter- Meanwhile, NIIF is planning p:isition as a data centre hub.An structure push.
use of the treaty benefits, PPT framework. The subse vil!\'/withBloombergTe/evision. to launch a perfonning private estimated$90billioninvestment - BLOOMBERG
e tb ba hf u aef esnte U h eec bdont f ei ird niv ti ne se t ei r vA fe e itsu to s sg t c t h ou wa ae rs n a t i s d f1 M oe o0 P n na bP, u2 eyT tar 0 , t o i ir2 t n fe i6 i tat u. n ha t sx gy e (cid:127) aw i2 nm 0aT t1 rs eh o6 nse . di Td g uln e hn c< d e eef sdi nba t ey- i hnM wa eA a p p Pu p rr Pr r ooii Tlt t ti ,1u o o ws 9 cc 8 o aoD s3 llT , i A : n w;m A M h d i a cy h c fq dt ai uonu eo rn nce n te tn t h it l t n eh y rM ua m cet pa l atj r ar ou yc i r d n ,o ih ti c hp yc2 i oei p i0 a r w nll a2 e eta l5 s e ivn g c eit hnil ra t- ,d war omei v of fpoi eu e tc i r hd na l id e- t ~------------ I- -----------------
primary purposes of an signed in 2024 Supreme Court's decision in
arrangementortransaction. Tiger Global, particularly on
The ministry has also genuine commercial reasons PPT would apply prospec the interplay between such Ministry al Housing
a thm ee en nd te itd l et mhe e p nr te ta om bb el ne e a fn itd s ito m e px li is ct a. T tih oe n c sh a fn og re w fi oll r h ea igv ne gti rv ae nl dy, f aw thh eil re i ntr ge ra et my- as ip ne s c pi rf oic fp ar ti hn eci rp inle gs ,• a Sn hd a htr se aa it dy . grand a Gn 01d ·eU rrr rb n1 er1 rn t oA l t If na dl i, as .1,\'twratna CPSE
provision oft he India-Mau portfolio Investors, private tected. Investments made According to Thingna, it
ritius DTAA. equity funds, venture capital prior to April 1,2017, would will be critical for investors
•The revised treaty funds etc, with a nominal remain outside the scope of to demonstrate commercial
expressly clarifies that its presence In the island coun thePPT. rationale and substance
objectlvelstoellminatedou try, which offers a benign tax The PPT's potential appli for investments and
ble taxation without creat regime. cation to assets, Including transactions routed through
ing opportunities for non The India-Mauritius convertible debentures and Mauritius.
taxation or reduced taxation DTAA was signed in April shares of foreign companies •Given the Supreme
through tax evasion or 1983 andamendedbyapro deriving value from Indian Court's ruling in the Tiger
avoidance,• said Riaz tocol in May 2016. The new assets,merits careful consid Global matter, many taxpay
Thingna, Partner-Tax, Grant protocol, which introduces eration even for pre-protocol ers had already commenced Once-in-a-Lifetime
Thornton Bharat. the PPT, was signed in 2024. investments, said Subrama a review of their holding Opportunity to Own
The amended treaty Mauritius had earlier made niam Krishnan, tax partner, structures. However, the
would empower tax author the necessary changes in its EYindia. recent treaty amendment Your Dream Home at
ities to deny treaty benefits - domestic law in deference of •The CBDT Circular of significantly heightens the Prime Location
like lower tax rates on capital the new protocol. January2025was a welcome importance of such reviews
gains, dividend income or The Central Board of and important clarification, and the continued availabil
exemptions -unless the rel Direct Taxes (CBDT) in Janu confirming the prospective ity of treaty benefits:
evant Mauritius entity has ary 2025 clarified that the application of the PPT and Thingna said.
Electricity Groww THE PINNACLE OF REFINED LIVING
data sharing ~ B 1,,0,.e,u.•NS GARAGE VfNTUR[S!l~•HO
framework
this month
UNAUDITED FINANCIAL RESULTS --....: -::--,i~j.
For the quarter and half year ended September 30, 2026
Ir .,. ~ ~ ~.. ~,' '. :. ,r.
The Board of Directors of tne Company, at its meeting held on :t ~... :I~'ll " '
October 14, 2026, approved unaudited standalone and '. · 1 ,_
consolidated financial results foc the quarter and half year ended .... , I
September 30, 2026. c~ - F.ii
SAURAVANAND
New Delhi, October 14 You can view the results along with the Limited Review Report by
lHEPOWERMINISTRYwill scanning the QR code shown below Of by visiting the link:
roll out the National Elec https://groww.in(investor-relations/perfonnance/quarterty-results.
tricity Data Sharing Frame
workthis month,creating a
structured system for shar
ingelectricity-sectordataas
the government looks to
accelerate the use of artifi
cial intelligence for demand
forecasting, grid manage
ment and planning. Chidreo's Library,Readlng
dat1 ab e afr ca rm ose sw o grk enw el rll ac to iov ner
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tran.smi.ssion,distribution,
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