BHEL vs CGPOWER: share price, P/E, ROE and financials compared
Bharat Heavy Electricals
CG Power and Industrial Solutions
BHEL and CGPOWER at a glance
BHEL and CGPOWER are both listed in Capital Goods. BHEL is the larger by market cap, at ₹1.5L Cr against ₹1.2L Cr for CGPOWER. On valuation, BHEL has the lower P/E (50.6× against 88.6×) and the lower price-to-book (5.45× against 13.91×). On returns and margins, CGPOWER has the higher ROCE (19.3% against 6.6%), the higher ROE (16.4% against 11.3%) and the higher operating margin (13.1% against 10.1%). Over three years, BHEL has faster 3-year profit growth (+35.9% against +7.8% a year), while CGPOWER has faster 3-year sales growth (+21.2% against +13.5% a year). CGPOWER carries less debt for its equity, with a debt-to-equity of 0.02× against 0.22×.
Key metrics, side by side
| Metric | BHELBHEL | CGPOWERCGPOWER |
|---|---|---|
| Price (₹) | 418.80 | 773.00 |
| Market cap (₹ Cr) | 1,45,829 | 1,21,785 |
| P/E | 50.6× (the lower figure, shaded) | 88.6× |
| P/B | 5.45× (the lower figure, shaded) | 13.91× |
| Dividend yield, trailing | 0.33% (the higher figure, shaded) | 0.17% |
| ROE | 11.3% | 16.4% (the higher figure, shaded) |
| ROCE | 6.6% | 19.3% (the higher figure, shaded) |
| Operating margin (OPM) | 10.1% | 13.1% (the higher figure, shaded) |
| Net margin (NPM) | 7.6% | 10.0% (the higher figure, shaded) |
| Sales CAGR 3Y | +13.5% | +21.2% (the higher figure, shaded) |
| Profit CAGR 3Y | +35.9% (the higher figure, shaded) | +7.8% |
| Debt to equity | 0.22× | 0.02× (the lower figure, shaded) |
| Interest cover | 3.8× | 134.6× (the higher figure, shaded) |
| Net profit TTM (₹ Cr) | 2,879 | 1,375 |
| 1Y return | +56.4% (the higher figure, shaded) | +8.2% |
| Promoter holding | – | – |
BHEL vs CGPOWER: common questions
Which is bigger, BHEL or CGPOWER?
By market cap, BHEL is bigger at ₹1.5L Cr, against ₹1.2L Cr for CGPOWER (prices as of 6 Nov 2026). Net profit over the last twelve months was ₹2,879 Cr for BHEL and ₹1,375 Cr for CGPOWER.
Which has a lower P/E ratio, BHEL or CGPOWER?
BHEL trades at a P/E of 50.6× and CGPOWER at 88.6×. BHEL has the lower P/E. P/E is the share price divided by earnings per share; it varies a lot between industries and with growth, so it says little on its own.
Which has a higher ROE, BHEL or CGPOWER?
BHEL reports a return on equity of 11.3% and CGPOWER 16.4%. CGPOWER has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, BHEL or CGPOWER?
Over the last three years: Sales grew +13.5% a year at BHEL and +21.2% at CGPOWER, so CGPOWER grew sales faster; profit grew +35.9% a year at BHEL and +7.8% at CGPOWER, so BHEL grew profit faster. Past growth doesn’t predict future growth.