Bharat Dynamics Limited has appointed Shri Shailesh Vagerwal as its Chairman & Managing Director (CMD) effective from the date he assumes charge, following approval from the Ministry of Defence. The appointment is valid until 31.03.2031 or until further orders, whichever is earlier. This leadership change is significant for the company's strategic direction as it operates under the Ministry of Defence.

The Ministry of Defence, Department of Defence Production, Government of India, conveyed the approval via Office Memorandum No. DDP-M0001(24)/1/2026-D(BDL) dated 18.06.2026. The competent authority authorized the appointment of Shri Shailesh Vagerwal to the top post. The appointment order was received by Bharat Dynamics Limited on 19.06.2026.

Shri Shailesh Vagerwal is yet to assume the charge of Chairman & Managing Director. The tenure will commence immediately upon his assumption of charge. The company has intimated the stock exchanges regarding this development to ensure regulatory compliance.

Bharat Dynamics Limited reported a 27% decline in revenue from operations to ₹2,442 crore for FY26, while its total order book increased to ₹26,176 crore as of March 31, 2026. The company disclosed these figures in an investor presentation filed pursuant to Regulation 46(2)(o) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. New orders worth ₹5,909 crore were received during FY26, with export orders valued at approximately ₹417 crore. The company also noted that orders worth approximately ₹15,000 crore are in the pipeline for the current financial year.

Despite the revenue decline, the Profit After Tax (PAT) margin improved to 17.2% in FY26 from 16.4% in the previous year. However, the absolute PAT decreased to ₹420.33 crore from ₹549.64 crore in FY25. Earnings per share (EPS) for the year stood at ₹11.47, down from ₹14.99 in FY25. The company's R&D expenditure increased to ₹198.23 crore, constituting 8.1% of revenue, up from 6.7% in the prior year.

Financial Highlights

The following table summarises the key financial metrics for FY26 compared to FY25:

Operational Metrics

The company's trade receivables days improved significantly to 109 days in FY26 from 176 days in FY25. Conversely, inventory turnover days increased to 691 days from 289 days in the previous year. The number of employees decreased to 2,101 from 2,269 in FY25. The board declared a dividend of ₹4.90 per share for FY26, compared to ₹4.65 in the previous year.

Order Book and Export Pipeline

Bharat Dynamics identified potential products for exports, including Akash SAM, Light Weight Torpedo, and Astra missiles. The stable order book position, combined with the approximately ₹15,000 crore pipeline for the current financial year, reflects the company's continued focus on both domestic defence procurement and export opportunities.