Bharat Electronics
Market cap ₹2.65 L Cr
- P/E
- 43.21
- Day range
- ₹356.20 – ₹364.50
- 52-week range
- ₹354.55 – ₹473.45
- Volume
- 90.47 L
- Open
- ₹361.00
- Prev close
- ₹362.00
Latest results · Q1 FY27(consolidated)Revenue ₹5,547 Cr+24.9%Profit ₹1,055 Cr+8.8%Margin 19.0%YoY vs the same quarter last year
No red flags in exchange filings: no rising pledge, promoter selling, surveillance or critical filing on record.
BEL in NSE indices and F&O
F&O margin for one lot of BEL (1,425 shares)Research profile
Composite 57 / 100Factor percentiles
Derived metrics
- Earn. yield
- 2.3%
- Graham no.
- ₹78.93
- vs Graham
- -78.3%
- ROE ÷ P/B
- 2.5%
- 12-1 mom.
- -1.1%
- Return / vol
- -0.40
- Magic Formula
- #178
- Piotroski
- 4/6
- FCF yield
- 0.2%
- PEG
- 9.23
Appears in 12 scans
Percentiles rank this stock against the other tracked stocks and change as they do. Scans describe where figures sit today. Hover a label for its definition. Not investment advice.
Peer comparison
All 12 in Defence| Company | M-cap | P/E | P/B | ROE | ROCE | OPM | D/E | Sales YoY |
|---|---|---|---|---|---|---|---|---|
| Hindustan AeronauticsHAL | ₹3.19 L Cr | 34.26 | 7.70 | 24.0% | 32.0% | 28.0% | 0.00 | +14.4% |
| Bharat ElectronicsBEL | ₹2.65 L Cr | 43.21 | 11.04 | 27.6% | 36.0% | 25.0% | 0.00 | +24.9% |
| Bharat Heavy ElectricalsBHEL | ₹1.37 L Cr | 56.44 | 5.05 | 6.3% | 9.0% | 11.0% | 0.22 | +23.8% |
| Power Finance CorpPFC | ₹1.05 L Cr | 4.03 | 0.73 | 26.8% | 9.7% | — | 7.62 | -0.0% |
| Indian Railway FinanceIRFC | ₹97,230 Cr | 13.19 | 1.60 | 12.8% | 5.6% | — | 7.12 | +23.4% |
| REC LtdRECLTD | ₹78,523 Cr | 4.91 | 0.92 | 20.1% | 9.7% | — | 6.10 | -2.0% |
| Mazagon Dock ShipbuildersMAZDOCK | ₹75,634 Cr | 26.46 | 7.69 | 29.1% | 36.0% | 15.0% | 0.05 | +12.1% |
| Rail Vikas NigamRVNL | ₹38,083 Cr | 42.68 | 3.84 | 9.0% | 11.0% | 4.3% | 0.49 | +10.5% |
| Sector median | ₹77,079 Cr | 30.36 | 4.45 | 12.7% | 12.0% | 15.0% | 0.25 | +11.3% |
Sector as classified in the tracked universe; medians use every tracked Defence company, and P/E only profitable ones. Tinted figures beat the median.
Latest news
Updated 2d agoHeadlines about Bharat Electronics from the last two weeks in the financial press. Stories belong to their publishers; Parasram India does not endorse them.
Key metrics
- P/E (TTM)
- 43.0
- EPS (TTM)
- ₹8.40
- Price / Book
- 11.07
- ROE (FY26)
- 27.6%
- ROCE (latest year)
- 36%
- Dividend yield
- 0.69%
Moving averages (NSE)
- 20-day
- ₹379.23
- Price below
- 50-day
- ₹394.92
- Price below
- 200-day
- ₹416.51
- Price below
Charts & trends
From company filings. Amounts in ₹ crore.
Revenue, profit & margin - quarterly
₹ crore; a loss shows red. Operating margin below, same periods.
- Revenue
- Net profit
Operating margin
Who owns the company
% of equity by quarter, latest Sept 2026
- Promoter
- DII
- FII
- Public
Cash flows
Where cash came from and went, by fiscal year (₹ crore)
- Operating
- Investing
- Financing
- Free cash flow
Return on equity
Net profit over shareholders' equity, by fiscal year
Equity vs debt
Shareholders' equity against borrowings (₹ crore); the ratio below, same years.
- Equity
- Debt
Debt to equity
Dividends per share
₹ by fiscal year of the ex-date; the latest year runs to date. Not adjusted for the bonus of 15 Sept 2022: earlier bars are per pre-bonus share.
Financial statements
| Line item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,009 | 4,162 | 8,564 | 4,244 | 4,605 | 5,771 | 9,150 | 4,440 | 5,792 | 7,154 | 10,224 | 5,547 |
| Expenses | 2,995 | 3,090 | 6,277 | 3,295 | 3,205 | 4,101 | 6,334 | 3,201 | 4,090 | 5,027 | 7,243 | 4,159 |
| Operating Profit | 1,014 | 1,072 | 2,287 | 948 | 1,400 | 1,669 | 2,816 | 1,238 | 1,702 | 2,127 | 2,982 | 1,388 |
| OPM % | 25% | 26% | 27% | 22% | 30% | 29% | 31% | 28% | 29% | 30% | 29% | 25% |
| Other Income | 137 | 167 | 225 | 204 | 158 | 186 | 195 | 163 | 154 | 139 | 110 | 170 |
| Interest | 2 | 1 | 4 | 1 | 1 | 1 | 6 | 1 | 2 | 2 | 2 | 1 |
| Depreciation | 108 | 107 | 119 | 108 | 111 | 111 | 138 | 121 | 126 | 135 | 173 | 161 |
| Profit before tax | 1,041 | 1,132 | 2,390 | 1,043 | 1,445 | 1,744 | 2,867 | 1,279 | 1,728 | 2,128 | 2,917 | 1,396 |
| Tax % | 25% | 25% | 25% | 25% | 25% | 25% | 26% | 25% | 26% | 26% | 24% | 25% |
| Net Profit | 790 | 860 | 1,797 | 791 | 1,093 | 1,312 | 2,127 | 969 | 1,287 | 1,580 | 2,226 | 1,055 |
| EPS in Rs | ₹1.08 | ₹1.18 | ₹2.46 | ₹1.08 | ₹1.49 | ₹1.79 | ₹2.91 | ₹1.33 | ₹1.76 | ₹2.16 | ₹3.04 | ₹1.44 |
From company filings, updated 26 Oct 2026. Consolidated figures where the company reports them. Information only, not investment advice.
Working-capital cycle
0 days since Mar 2021
+32 days since Mar 2021
-62 days since Mar 2021
+94 days since Mar 2021
+88 days since Mar 2021
Strengths, risks & growth
Incorporated in 1954, Bharat Electronics Ltd manufactures and supplies electronic equipment and systems to the defence sector. Company also has a limited presence in the civilian market [1]
Strengths
- Company is almost debt free.
- Company has delivered good profit growth of 23.5% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.7%
- Company has been maintaining a healthy dividend payout of 34.5%
Risks
- Stock is trading at 11.0 times its book value
- Company has high debtors of 170 days.
- Working capital days have increased from 79.4 days to 135 days
Compounded Sales Growth
- 10 Years
- +14%
- 5 Years
- +14%
- 3 Years
- +16%
- TTM
- +20%
Compounded Profit Growth
- 10 Years
- +16%
- 5 Years
- +24%
- 3 Years
- +27%
- TTM
- +12%
Stock Price CAGR
- 10 Years
- +25%
- 5 Years
- +39%
- 3 Years
- +40%
- 1 Year
- -14%
Return on Equity
- 10 Years
- +24%
- 5 Years
- +26%
- 3 Years
- +28%
- Last Year
- +27%
Strengths and risks are a machine-generated checklist, not advice; growth is compounded annually over each period.
Shareholding pattern
| Holder | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 | Change |
|---|---|---|---|---|---|
| Promoter | 51.14% | 51.14% | 51.14% | 51.14% | 0.00 pp |
| FII | 18.51% | 19.51% | 18.02% | 16.99% | -1.03 pp |
| DII | 20.47% | 20.00% | 21.02% | 21.86% | +0.84 pp |
| Public | 9.87% | 9.37% | 9.82% | 10.00% | +0.18 pp |
Filed with NSE for Sept 2026: promoters 51.14%, public 48.86% · XBRL filing
Analysts & fund holdings
Who holds the shares, quarter by quarter
Mutual funds 14.90% (-0.09 pp)- Promoters51.1%
- Foreign institutions17.0%
- Mutual funds14.9%
- Insurance4.3%
- Other domestic institutions2.7%
- Retail8.3%
- Others1.7%
| Fund | % of company | % of fund | 3-month change |
|---|---|---|---|
| Kotak Flexi Cap Fund | 1.03% | 5.34% | -0.08 pp |
| HDFC Defence Fund | 0.62% | 14.87% | +0.00 pp |
| Kotak Mid Cap Fund | 0.47% | 1.96% | -0.09 pp |
| Motilal Oswal Nifty India Defence Index Fund | 0.40% | 19.97% | +0.17 pp |
| Kotak Large & Mid Cap Fund | 0.40% | 3.56% | -0.13 pp |
Scorecard
- Performance
- Avg
- Valuation
- High
- Growth
- Avg
- Profitability
- High
- Entry point
- Good
- Red flags
- Low
Analyst coverage, holdings and scorecard from market data; not a recommendation by Parasram India.
Risk & trend
From 275 daily sessions to 23 Oct 2026.
Risk
- Volatility (1Y)
- 24.9%
- Downside volatility
- 25.2%
- Worst 5% of days
- 2.4%
- Average of that tail
- 3.6%
- Max drawdown (1Y)
- 22.7%
- Below its peak
- 22.7%
Against the market
- Beta vs Nifty 50
- 0.88
- Correlation
- 0.47
- Relative strength (3M)
- -5.4%
- ATR (14)
- 2.2%
Return
- Return 1M
- -9.0%
- Return 3M
- -10.7%
- Return 6M
- -19.3%
- Return 1Y
- -10.0%
- vs 200-day average
- -13.1%
Momentum
- RSI (14)
- 31.2
- MACD histogram
- -0.91
- Stochastic %K
- 22.5
- ADX (14)
- 30.9
- +DI / −DI
- 12.4 / 39.5
- Money flow index
- 26.1
Participation
- Delivery (20d avg)
- 56.5%
- vs its 60-day baseline
- -0.7 pts
- Volume vs 20-day
- -0.2σ
- Close vs day's VWAP
- +1.0%
- 52-week position
- 0 / 100
These describe what this stock's price has already done. They are not forecasts, signals or recommendations, and a dash means the figure was withheld for want of enough history rather than being zero.
Financial quality
From consolidated statements to 31 Mar 2026.
Piotroski F-Score
4 of 6 tested
- Return on assets positive — passed
- Operating cash flow positive — not testableno cash flow statement for this period
- Return on assets improving — failed
- Cash flow exceeds profit — not testableneeds cash flow and profit against assets
- Debt to assets falling — passed
- Current ratio improving — passed
- No new equity issued — not testableno share count is collected, and financing cash flow mixes equity with debt
- Operating margin improving — failed
- Asset turnover improving — passed
- Free cash flow
- ₹556 Cr
- FCF yield
- 0.2%
- Cash conversion
- 0.25
- Accruals ratio
- 0.102
- Net debt
- -₹1,823 Cr
- Net debt / equity
- -0.08
- EV / sales
- 9.15
- PEG
- 9.23
- Capex intensity
- 3.6%
- Revenue CAGR
- 11.7%
- Profit CAGR
- 4.7%
Computed from filed statements, not filed themselves. A dash means an input was absent, and the score counts only the criteria that could actually be tested.
Model simulation
30 independent runs of NeoQuasar/Kronos-small, conditioned on daily bars to 23 Oct 2026, simulating 10 sessions ahead.
Lower edge (10th percentile)
₹390.58
+7.9%
Upper edge (90th percentile)
₹406.02
+12.2%
The marker is the last close, ₹362. Eight of every ten simulated runs ended inside this range; the middle run ended at ₹399.83 (+10.5%), which is the centre of the simulation and not an expected or target price.
The model reads price history only. It has not seen this company's results, its filings, its industry or anything that happened after 23 Oct 2026. Ranges widen with horizon because the further out the simulation runs, the less the recent past constrains it.
Corporate actions
- dividendNot available — not reported in this filing
Dividend - Re 0.55 Per Share
13 Aug 2026ex-date - dividend₹1.95
Interim Dividend - Rs 1.95 Per Share
6 Mar 2026ex-date - dividend₹0.90
Dividend - Rs 0.90 Per Share
14 Aug 2025ex-date - dividend₹1.50
Interim Dividend - Rs 1.5 Per Share
11 Mar 2025ex-date - dividendNot available — not reported in this filing
Annual General Meeting/Dividend - Re 0.80 Per Share
14 Aug 2024ex-date - dividendNot available — not reported in this filing
Interim Dividend - Re 0.70 Per Share
22 Mar 2024ex-date - dividendNot available — not reported in this filing
Interim Dividend - Re 0.70 Per Share
9 Feb 2024ex-date - dividendNot available — not reported in this filing
Annual General Meeting/Dividend - Re 0.60 Per Share
17 Aug 2023ex-date - dividend₹0.60
Interim Dividend - Rs 0.60 Per Share
24 Mar 2023ex-date - dividendNot available — not reported in this filing
Interim Dividend - Re 0.60 Per Share
10 Feb 2023ex-date - bonusNot available — not reported in this filing
Bonus 2:1
15 Sept 2022ex-date - dividend₹1.50
Annual General Meeting/Dividend - Rs 1.50 Per Share
8 Aug 2022ex-date - dividend₹1.50
Interim Dividend - Rs 1.50 Per Share
24 Mar 2022ex-date - dividend₹1.50
Interim Dividend - Rs 1.50 Per Share
9 Feb 2022ex-date - dividend₹1.20
Annual General Meeting/Dividend - Rs 1.20 Per Share
14 Sept 2021ex-date - dividend₹1.40
Interim Dividend - Rs 1.40 Per Share
23 Mar 2021ex-date - dividend₹1.40
Interim Dividend - Rs 1.40 Per Share
8 Feb 2021ex-date - dividend₹1.40
Annual General Meeting/Dividend - Rs 1.40 Per Share
15 Sept 2020ex-date - dividend₹1.40
Interim Dividend - Rs 1.40 Per Share
11 Feb 2020ex-date - dividend₹1.70
Annual General Meeting/Dividend - Rs 1.70 Per Share
20 Aug 2019ex-date - dividendNot available — not reported in this filing
Interim Dividend - Re 0.70 Per Share
27 Mar 2019ex-date
Company announcements
BEL receives orders worth Rs.1011 crore.
Bharat Electronics Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 30/10/2026 ,inter alia, to consider and approve To consider and approve ....
Press Release - BEL receives orders worth Rs.533 Crore.
Certificate under Reg.74(5) of SEBI (DP) Regulations, 2018.
Intimation of ESG Rating.
Intimation of Closure of Trading Window.
Press Release - BEL receives orders worth Rs.648 Crore.
Intimation of Appointment of Statutory Auditors for FY 2026-27.
Intimation of Payment Date of Final Dividend FY 2025-26.
Newspaper Publication - Notice of Loss of Share Certificates.
Voting Results and Scrutinizer Report of 72nd AGM held on 28.08.2026.
Proceedings of 72nd AGM held on 28.08.2026.
Press Release - BEL receives orders worth Rs.730 Crore.
Newspaper Publication- Addendum to the Notice of 72nd AGM.
Addendum to the Notice of 72nd AGM.
Filed with BSE (scrip 500049); the last 45 days. Documents open at bseindia.com.
SEBI filings & orders
From SEBI's website. An order may concern the company, its officers or trading in its shares, and may be under appeal - read the order itself. Personal identifiers are withheld.
Buybacks, open offers & rights issues
- Buyback - Letter of Offer
Bharat Electronics Limited - Letter of Offer
9 Mar 2018Read on SEBI - Buyback - Draft Letter of Offer
Bharat Electronics Limited - Draft Letter of Offer
16 Feb 2018Read on SEBI - Buyback - Public Announcement
Bharat Electronics Limited - Public Announcement
8 Feb 2018Read on SEBI - Buyback - Post Buyback Public Announcement
Bharat Electronics Limited - Post Buyback Public Announcement
4 Nov 2016Read on SEBI - Buyback
Bharat Electronics Limited
7 Oct 2016Read on SEBI
Regulatory orders
- Order
Order against M/s. Bharat Electronics Limited
16 Feb 2005Read on SEBI
Documents
Annual reports
Earnings calls
- Jul 2026TranscriptRecording
- May 2026TranscriptRecording
- Jan 2026TranscriptRecording
- Nov 2025TranscriptRecording
- Aug 2025TranscriptRecording
- May 2025TranscriptRecording
Credit ratings
- Rating update · 20 Feb from icra
- Rating update · 21 Feb 2025 from icra
- Rating update · 22 Feb 2024 from icra
- Rating update · 9 Mar 2023 from icra
- Rating update · 14 Jan 2022 from icra
- Rating update · 17 Feb 2021 from icra
Documents open at BSE or the rating agency that issued them.
Sourced from the company's NSE XBRL filing dated 27 Jul 2026 (unaudited). View the source filing. Figures are as filed and are not investment advice.
Bharat Electronics: common questions
Answered from the figures on this page.
