| Quarterly Financials | Jun 2018 | Sept 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sept 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sept 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 |
Revenue  | 2,113 | 3,302 | 2,695 | 3,819 | 2,088 | 2,675 | 2,216 | 5,757 | 1,658 | 3,196 | 2,293 | 6,828 | 1,621 | 3,699 | 3,721 | 6,276 | 3,170 | 3,981 | 4,124 | 6,545 | 3,673 | 4,146 | 4,330 | 8,790 | 4,447 | 4,763 | 5,957 | 9,344 | 4,603 | 5,946 |
| Expenses | 1,814 | 2,533 | 1,970 | 2,942 | 1,769 | 2,200 | 1,921 | 4,323 | 1,530 | 2,568 | 1,864 | 4,937 | 1,579 | 2,814 | 2,872 | 4,762 | 2,618 | 3,093 | 3,290 | 4,647 | 2,860 | 2,995 | 3,090 | 6,277 | 3,295 | 3,205 | 4,101 | 6,334 | 3,202 | 4,090 |
| EBITDA | 299 | 769 | 724 | 877 | 318 | 476 | 295 | 1,434 | 128 | 628 | 429 | 1,891 | 42 | 885 | 848 | 1,514 | 551 | 888 | 834 | 1,898 | 813 | 1,151 | 1,240 | 2,513 | 1,152 | 1,558 | 1,856 | 3,011 | 1,402 | 1,856 |
| Operating Profit % | 14 % | 23 % | 26 % | 22 % | 14 % | 17 % | 12 % | 25 % | 7 % | 19 % | 18 % | 27 % | -0 % | 23 % | 22 % | 23 % | 15 % | 21 % | 19 % | 28 % | 19 % | 25 % | 26 % | 27 % | 22 % | 30 % | 29 % | 31 % | 28 % | 29 % |
| Depreciation | 74 | 80 | 85 | 99 | 88 | 91 | 92 | 101 | 94 | 97 | 100 | 97 | 97 | 99 | 98 | 106 | 99 | 109 | 106 | 114 | 109 | 108 | 108 | 119 | 108 | 111 | 111 | 138 | 121 | 127 |
| Interest | 1 | 0 | 0 | 11 | 0 | 1 | 0 | 2 | 0 | 0 | 0 | 6 | 0 | 1 | 0 | 4 | 1 | 2 | 10 | 3 | 1 | 2 | 1 | 4 | 1 | 1 | 1 | 6 | 1 | 2 |
| Profit Before Tax | 251 | 792 | 703 | 883 | 292 | 468 | 298 | 1,420 | 69 | 558 | 380 | 1,936 | 18 | 827 | 791 | 1,531 | 504 | 831 | 806 | 1,782 | 703 | 1,042 | 1,132 | 2,390 | 1,043 | 1,445 | 1,744 | 2,867 | 1,279 | 1,728 |
| Tax | 63 | 210 | 187 | 282 | 82 | 124 | 75 | 373 | 15 | 159 | 101 | 568 | -7 | 202 | 195 | 376 | 138 | 207 | 193 | 400 | 164 | 252 | 272 | 593 | 252 | 352 | 432 | 740 | 310 | 441 |
| Net Profit | 189 | 582 | 516 | 601 | 211 | 344 | 223 | 1,047 | 54 | 399 | 279 | 1,368 | 24 | 625 | 596 | 1,155 | 366 | 624 | 614 | 1,382 | 539 | 790 | 860 | 1,797 | 791 | 1,093 | 1,312 | 2,127 | 969 | 1,287 |
| EPS in ₹ | 0.77 | 2.39 | 2.12 | 2.46 | 0.86 | 1.42 | 0.91 | 4.30 | 0.22 | 1.64 | 1.14 | 5.62 | 0.10 | 2.56 | 2.45 | 4.74 | 1.50 | 0.86 | 0.83 | 1.90 | 0.74 | 1.08 | 1.17 | 2.46 | 1.08 | 1.50 | 1.79 | 2.91 | 1.33 | 1.76 |
Bharat Electronics
Bharat Electronics
426.10
+16.20
(3.95%)
Q1 Quarterly Results are out. Check out the updated financials17 hours ago
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Key Fundamentals
Market Cap
3,11,469.70 Cr
EPS
7.28
PE Ratio
54.70
Dividend Yield
0.56 %
Industry
Aerospace & Defense 52 Week High
436.00
52 Week Low
240.25
PB Ratio
14.44
Debt to Equity
0.00
Sector
Engineering Analyst Rating and Forecast
- By Refinitiv from25 analysts
Actual
Company News
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BEL has confirmed its revenue growth target exceeding 15% and EBITDA margin target over 27%. The company expects order inflow to reach ₹57,000 crore, which includes ₹27,000 crore excluding QRSAM orders.
Bharat Electronics reported Q2 revenue of 57.6 billion rupees, up from 45.8 billion rupees year-over-year, exceeding estimates of 52.58 billion rupees. The company's Q2 EBITDA reached 16.95 billion rupees compared to 13.9 billion rupees in the previous year, surpassing estimates of 14.41 billion rupees. However, EBITDA margin declined to 29.41% from 30.29% year-over-year, falling short of the estimated 30.3%. Q2 net profit increased to 12.9 billion rupees from 10.9 billion rupees year-over-year, beating estimates of 11.18 billion rupees. The company's order book reached 744.53 billion rupees as of October 1st.
Bharat Electronics has secured orders worth ₹732 crore across multiple defense technology segments. The orders cover software defined radios, tank subsystems, communication equipment, and cyber security solutions.
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Peer Comparison Compare Peers on Screener
Competitors | LTP | Market Cap (₹ Cr.) | P/E Ratio | Revenue (₹ Cr.) | YoY Revenue Growth % | Net Profit (₹ Cr.) | YoY Profit Growth % | RSI |
|---|---|---|---|---|---|---|---|---|
4,679.80 | #1 3,12,973.30 | #1 37.67 | #1 33,542.60 | 3.92 | #1 8,364 | -3.71 | 41.89 | |
426.10 | #2 3,11,469.70 | #5 54.70 | #2 24,511.10 | #7 17.06 | #2 5,287 | #6 17.79 | 63.11 | |
13,878.00 | 1,25,582.10 | 93.79 | 7,611.10 | 24.49 | 1,288 | 17.34 | 44.10 | |
2,729.00 | 1,10,082.40 | 47.17 | 12,553.10 | 18.78 | 2,277 | 28.10 | 37.40 | |
1,529.90 | 56,080.40 | 99.99 | 3,695.50 | 35.31 | 550 | #1 155.56 | 49.95 | |
2,556.10 | 29,280.60 | 52.24 | 5,410.50 | 39.01 | 527 | 37.84 | 44.99 | |
2,744.00 | 15,362.00 | 71.61 | 113.70 | 2.06 | 4 | -22.26 | 49.67 | |
1,357.20 | 12,254.20 | 45.12 | 1,032.00 | #1 126.91 | 299 | -2.37 | 40.59 | |
1,042.25 | 9,895.60 | 60.92 | 1,068.70 | 16.10 | 154 | 126.39 | 44.51 | |
276.80 | 9,232.20 | 142.05 | 565.00 | 51.27 | 56 | 110.71 | 38.16 |
Growth Rate
Revenue Growth
17.06 %
Net Income Growth
34.09 %
Cash Flow Change
-87.41 %
ROE
9.61 %
ROCE
11.92 %
EBITDA Margin (Avg.)
13.22 %
Quarterly Financial Results
Balance Sheet
| Balance Sheet | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Total Assets | 15,726 | 18,604 | 17,596 | 18,961 | 20,821 | 24,348 | 29,492 | 33,911 | 35,491 | 39,527 | 40,832 |
| Fixed Assets | 1,073 | 1,232 | 1,501 | 1,839 | 2,298 | 2,713 | 2,652 | 2,675 | 2,963 | 3,035 | 3,419 |
| Current Assets | 14,006 | 15,833 | 14,067 | 14,305 | 15,874 | 18,738 | 23,716 | 27,294 | 30,048 | 34,063 | 34,858 |
| Capital Work in Progress | 140 | 430 | 743 | 940 | 849 | 828 | 883 | 1,006 | 855 | 894 | 1,052 |
| Investments | 0 | 462 | 491 | 937 | 964 | 1,110 | 1,306 | 1,572 | 650 | 682 | 743 |
| Other Assets | 14,512 | 16,480 | 14,861 | 15,244 | 16,710 | 19,697 | 24,651 | 28,657 | 31,023 | 34,916 | 35,618 |
| Total Liabilities | 15,726 | 18,604 | 17,596 | 18,961 | 20,821 | 24,348 | 29,492 | 33,911 | 35,491 | 39,527 | 40,832 |
| Current Liabilities | 6,966 | 8,451 | 8,751 | 9,896 | 10,449 | 12,866 | 16,832 | 19,581 | 20,566 | 22,027 | 19,753 |
| Non Current Liabilities | 637 | 902 | 1,096 | 1,036 | 1,147 | 1,397 | 1,586 | 2,027 | 1,046 | 1,156 | 1,087 |
| Total Equity | 8,123 | 9,251 | 7,750 | 8,029 | 9,225 | 10,086 | 11,075 | 12,302 | 13,879 | 16,344 | 19,993 |
| Reserve & Surplus | 8,037 | 9,006 | 7,512 | 7,772 | 8,968 | 9,828 | 10,816 | 12,042 | 13,131 | 15,596 | 19,243 |
| Share Capital | 80 | 240 | 223 | 244 | 244 | 244 | 244 | 244 | 731 | 731 | 731 |
Cash Flow
| Cash Flow | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Net Cash Flow | 386 | 472 | 197 | -1,895 | -45 | 861 | 1,422 | -1,742 | 2,645 | -2,739 | -493 |
| Investing Activities | -839 | -1,470 | 3,115 | -6 | -896 | -649 | -2,595 | -4,872 | 2,691 | -5,924 | 617 |
| Operating Activities | 1,434 | 2,260 | -61 | -687 | 1,514 | 2,570 | 5,093 | 4,207 | 1,267 | 4,660 | 587 |
| Financing Activities | -209 | -318 | -2,857 | -1,202 | -663 | -1,061 | -1,076 | -1,078 | -1,313 | -1,475 | -1,696 |
Share Holding
| % Holding | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 |
| Promoter | 51.14 % | 51.14 % | 51.14 % | 51.14 % | 51.14 % | 51.14 % | 51.14 % | 51.14 % | 51.14 % | 51.14 % | 51.14 % | 51.14 % | 51.14 % | 51.14 % | 51.14 % | 51.14 % | 51.14 % | 51.14 % | 51.14 % |
| FIIs | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 17.78 % | 17.56 % | 17.43 % | 17.27 % | 17.35 % | 17.56 % | 18.56 % | 18.15 % |
| DIIs | 29.79 % | 28.52 % | 27.99 % | 26.48 % | 26.04 % | 26.88 % | 25.63 % | 25.05 % | 25.50 % | 23.61 % | 22.90 % | 23.37 % | 22.64 % | 20.61 % | 20.22 % | 20.93 % | 20.88 % | 20.60 % | 20.88 % |
| Government | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % |
| Public / Retail | 6.02 % | 5.03 % | 4.36 % | 4.53 % | 4.96 % | 4.72 % | 4.95 % | 5.65 % | 6.13 % | 5.79 % | 6.61 % | 6.76 % | 7.52 % | 9.74 % | 10.29 % | 9.50 % | 9.33 % | 8.59 % | 8.47 % |
| Others | 13.05 % | 15.31 % | 16.51 % | 17.86 % | 17.86 % | 17.27 % | 18.28 % | 18.16 % | 17.23 % | 19.46 % | 19.35 % | 0.96 % | 1.14 % | 1.08 % | 1.09 % | 1.08 % | 1.10 % | 1.12 % | 1.36 % |
| No of Share Holders | 3,73,893 | 3,49,284 | 3,25,933 | 3,67,504 | 4,31,034 | 4,37,097 | 5,04,617 | 7,07,098 | 7,80,211 | 7,67,820 | 9,74,782 | 10,98,230 | 13,64,870 | 25,18,660 | 27,72,000 | 26,53,680 | 26,78,440 | 25,42,380 | 24,98,590 |
Dividend History
| Annual Cash Flows | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Per Share (₹) | 0.00 | 2.25 | 2 | 3.4 | 2.8 | 4 | 4.5 | 1.8 | 2.2 | 2.4 |
| Dividend Yield (%) | 0.00 | 4.77 | 6.44 | 13.7 | 6.71 | 5.69 | 4.92 | 0.89 | 0.73 | 0.56 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
 Bonus | 1:10 | 28 Sept 2017 | 0.00 | 0.00 | |
| 09 Feb 2021 |  Dividend | ₹ 1.40 /share | 08 Feb 2021 | 44.10 | 46.92 |
| 24 Mar 2021 | Dividend | ₹ 1.40 /share | 23 Mar 2021 | 45.72 | 42.22 |
| 16 Sept 2021 | Dividend | ₹ 1.20 /share | 14 Sept 2021 | 48.75 | 69.28 |
| 10 Feb 2022 | Dividend | ₹ 1.50 /share | 09 Feb 2022 | 68.28 | 67.53 |
| 26 Mar 2022 | Dividend | ₹ 1.50 /share | 24 Mar 2022 | 69.67 | 68.67 |
| 11 Aug 2022 | Dividend | ₹ 1.50 /share | 08 Aug 2022 | 78.33 | 95.80 |
| 16 Sept 2022 | Bonus | 2:1 | 15 Sept 2022 | 108.57 | 111.10 |
| 10 Feb 2023 | Dividend | ₹ 0.60 /share | 10 Feb 2023 | 94.30 | 95.80 |
| 25 Mar 2023 | Dividend | ₹ 0.60 /share | 24 Mar 2023 | 91.65 | 91.42 |
| 18 Aug 2023 | Dividend | ₹ 0.60 /share | 17 Aug 2023 | 107.05 | 128.70 |
| 10 Feb 2024 | Dividend | ₹ 0.70 /share | 09 Feb 2024 | 189.70 | 180.60 |
| 23 Mar 2024 | Dividend | ₹ 0.70 /share | 22 Mar 2024 | 195.80 | 197.25 |
| 16 Aug 2024 | Dividend | ₹ 0.80 /share | 14 Aug 2024 | 258.85 | 293.60 |
| 28 Aug 2024 |  Annual General Meeting | NA | 28 Aug 2024 | 311.15 | 300.80 |
| 25 Oct 2024 |  Quarterly Result Announcement | NA | 25 Oct 2024 | 277.20 | 271.35 |
| 30 Jan 2025 | Quarterly Result Announcement | NA | 30 Jan 2025 | 281.25 | 267.20 |
| 11 Mar 2025 | Dividend | ₹ 1.50 /share | 11 Mar 2025 | 264.71 | 272.33 |
| 19 May 2025 | Quarterly Result Announcement | NA | 19 May 2025 | 311.25 | 363.90 |
| 28 Jul 2025 | Quarterly Result Announcement | NA | 28 Jul 2025 | 427.55 | 395.20 |
| 14 Aug 2025 | Dividend | ₹ 0.90 /share | 14 Aug 2025 | 363.90 | 388.85 |
| 28 Aug 2025 | Annual General Meeting | NA | 28 Aug 2025 | 389.60 | 365.85 |
| 31 Oct 2025 | Quarterly Result Announcement | NA | 31 Oct 2025 | 413.15 | 409.90 |
Announcements
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
22 hours ago
22 hours agoFinancial Results For The Quarter And Half Year Ended 30.09.2025.1 day ago
1 day agoAnnouncement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order2 days ago
2 days agoIntimation Of ESG Rating.4 days ago
4 days agoAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation4 days ago
4 days agoAnnouncement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order9 days ago
9 days agoAnnouncement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderOct 15, 2025
Oct 15, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Oct 15, 2025
Oct 15, 2025Board Meeting Intimation for Consider And Approve Inter Alia Unaudited Standalone And Consolidated Financial Results For The Quarter And Half Year Ended 30Th September 2025Oct 07, 2025
Oct 07, 2025Closure of Trading WindowSep 30, 2025
Sep 30, 2025Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderSep 29, 2025
Sep 29, 2025Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderSep 16, 2025
Sep 16, 2025Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/sSep 15, 2025
Sep 15, 2025Announcement under Regulation 30 (LODR)-Dividend UpdatesSep 09, 2025
Sep 09, 2025Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderSep 01, 2025
Sep 01, 2025Announcement under Regulation 30 (LODR)-Change in ManagementSep 01, 2025
Sep 01, 2025Shareholder Meeting / Postal Ballot-Scrutinizers ReportAug 28, 2025
Aug 28, 2025Shareholder Meeting / Postal Ballot-Outcome of AGMAug 28, 2025
Aug 28, 2025Notice Of Record Date.Aug 07, 2025
Aug 07, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 06, 2025
Aug 06, 2025Intimation Of Book Closure.Aug 05, 2025
Aug 05, 2025Business Responsibility and Sustainability Reporting (BRSR)Aug 05, 2025
Aug 05, 2025Reg. 34 (1) Annual Report.Aug 05, 2025
Aug 05, 2025Notice Of 71St Annual General Meeting And Integrated Annual Report 2024-25.Aug 05, 2025
Aug 05, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeAug 04, 2025
Aug 04, 2025Announcement under Regulation 30 (LODR)-Change in ManagementAug 01, 2025
Aug 01, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeJul 30, 2025
Jul 30, 2025Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderJul 30, 2025
Jul 30, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationJul 29, 2025
Jul 29, 2025Intimation Of Appointment Of Cost Auditor.Jul 28, 2025
Jul 28, 2025Intimation Of Appointment Of Secretarial Auditor.Jul 28, 2025
Jul 28, 2025Unaudited Standalone And Consolidated Financial Results For The Quarter Ended 30Th June 2025Jul 28, 2025
Jul 28, 2025Board Meeting Outcome for Outcome Of Board MeetingJul 28, 2025
Jul 28, 2025Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderJul 25, 2025
Jul 25, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJul 24, 2025
Jul 24, 2025Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderJul 24, 2025
Jul 24, 2025Announcement under Regulation 30 (LODR)-Change in DirectorateJul 17, 2025
Jul 17, 2025Announcement under Regulation 30 (LODR)-Change in DirectorateJul 17, 2025
Jul 17, 2025Announcement under Regulation 30 (LODR)-Change in DirectorateJul 15, 2025
Jul 15, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Jul 11, 2025
Jul 11, 2025Board Meeting Intimation for Notice Of Board Meeting.Jul 07, 2025
Jul 07, 2025Announcement under Regulation 30 (LODR)-Change in ManagementJul 01, 2025
Jul 01, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseJun 30, 2025
Jun 30, 2025Closure of Trading WindowJun 26, 2025
Jun 26, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseJun 20, 2025
Jun 20, 2025Disclosures under Reg. 29(2) of SEBI (SAST) Regulations 2011Jun 12, 2025
Jun 12, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseJun 06, 2025
Jun 06, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseJun 05, 2025
Jun 05, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseJun 04, 2025
Jun 04, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJun 02, 2025
Jun 02, 2025Mutual Fund Holdings
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About Bharat Electronics
Bharat Electronics Limited (BEL) is a Navratna Public Sector Undertaking established in 1954 under India's Ministry of Defence. The company specializes in designing, developing, manufacturing, and providing life cycle support for strategic electronic products and systems, primarily for the Indian defense services. BEL has expanded into civilian segments and international markets. Its product range includes radar systems, communication equipment, electronic warfare systems, avionics, naval systems, missile electronics, and various defense-related electronic products. The company has also diversified into non-defense sectors, producing items such as electronic voting machines, solar power systems, and healthcare equipment. BEL operates multiple manufacturing units across India and has established partnerships with international defense companies. The company is actively involved in research and development, regularly introducing new products and technologies to meet evolving defense and civilian needs.
Website
Chairperson NameManoj Jain
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