Bharat Electronics Limited Share Price & Analysis
Price Chart
Fundamentals
Strengths
- ✓Excellent return on equity (ROE 27.6%)
- ✓Efficient capital deployment (ROCE 36.5%)
- ✓Virtually debt-free
Concerns
- ✗High premium to book value (P/B 12.4x)
Today's Price Action
Bharat Electronics Limited is quoted at ₹410.1, unchanged from the previous session. The day’s turnover of 52,40,390 shares matches the 20‑day average, indicating that trade interest is holding steady without any surge or slump in participation.
Valuation Snapshot
The stock trades at a forward P/E of 49.4, considerably higher than the sector’s undefined baseline, suggesting that earnings expectations are priced in at a premium. A return on equity of 27.6 % underscores strong profitability relative to its capital base.
Key Levels to Watch
The current price sits roughly midway between the 52‑week low of ₹361 and the high of ₹473, providing a reference window for support and resistance. Open‑interest data on the nearest strike‑priced options points to modest concentration around the ₹420 and ₹440 marks, which could act as liquidity cushions on short‑term moves.
Chart Pattern
The daily chart recorded a Bearish Harami two sessions ago, a Bearish Engulfing six sessions ago, and another Bearish Harami nine sessions ago. These formations on the 1‑day timeframe signal a series of reversal cues where bearish candlesticks have engulfed preceding bullish bodies, indicating a momentary weakening of upward momentum.
Data Summary
Key
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| HAL Hindustan Aeronautics Limited | ₹4,568 | ₹3.0L Cr | 33 | 7.44 | 24 | 32 | 0 |
| ABB ABB India Limited | ₹7,530 | ₹1.6L Cr | 104 | 20.35 | 22.4 | 29.9 | 0.01 |
| TMCV Tata Motors Limited | ₹405 -1.53% | ₹1.5L Cr | 38.6 | 10.71 | 34 | 35.9 | 0.44 |
| CUMMINSIND Cummins India Limited | ₹5,590 | ₹1.5L Cr | 62.3 | 18.27 | 30.2 | 39.5 | 0 |
| BHEL Bharat Heavy Electricals Limited | ₹417 | ₹1.5L Cr | 60.4 | 5.55 | 6.23 | 9.14 | 0.45 |
| CGPOWER CG Power and Industrial Solutions Limited | ₹912 | ₹1.4L Cr | 118 | 18.02 | 20.5 | 26.7 | 0.02 |
| POLYCAB Polycab India Limited | ₹9,073 | ₹1.3L Cr | 46.6 | 11.37 | 23 | 33.2 | 0.02 |
Showing 7 peers in the same sector · Sorted by market cap
Shareholding Pattern
BEL · as of Mar 2026
| Category | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoters | 51.14% | 51.14% | 51.14% | 51.14% | 51.14% | 51.14% |
| FII | 17.77% | 17.56% | 17.43% | 17.27% | 17.34% | 17.55% |
| DII | 23.37% | 22.63% | 20.62% | 20.22% | 20.94% | 20.87% |
| Public | 7.72% | 8.66% | 10.82% | 11.37% | 10.58% | 10.43% |
Corporate Events
To consider and approve the financial results for the period ended Jun 30, 2026
To consider and approve the financial results for the period ended March 31, 2026 and dividend
Interim Dividend - Rs 1.95 Per Share
Dividend - Rs 0.90 Per Share
Interim Dividend - Rs 1.5 Per Share
Annual General Meeting/Dividend - Re 0.80 Per Share
Interim Dividend - Re 0.70 Per Share
Record: 22 Mar 2024
Interim Dividend - Re 0.70 Per Share
Record: 9 Feb 2024
Annual General Meeting/Dividend - Re 0.60 Per Share
Latest News
All news →Raymond appoints ex-BEL CMD as CEO of Defence unit
Raymond Limited has appointed former Bharat Electronics Limited (BEL) chairman Bhanu Prakash Srivastava as CEO of its Defence business. This move aims to drive strategic growth in the defence sector, leveraging his extensive experience. The appointment signals Raymond’s focused push into high-growth defence manufacturing. 📊 *STOCKS:* RAYMOND | 🏢 *SECTOR:* Corporate | #MEDIUMIMPACT #LeadershipChange
Defence capex to surge to ₹2.8L Cr by FY30
*Defence capex to surge to ₹2.8L Cr by FY30* driven by strong 11% CAGR, with domestic sourcing exceeding **70%**. This signals robust order visibility for homegrown defence players. Firms like BEL and HAL are poised to gain from increased indigenous production mandates. 📊 *STOCKS:* BEL, HAL | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #Defence
Defence panel to review ₹1 lakh crore proposals Friday
*Defence panel to review ₹1 lakh crore proposals Friday.* The Defence Acquisition Committee will meet to consider defence procurement proposals exceeding **₹1 lakh crore**, boosting domestic manufacturing. While no specific companies are named, firms like HAL, BEL, and L&T may benefit. Approval could accelerate military modernization and increase order visibility for defence contractors. 📊 *STOCKS:* | 🏢 *SECTOR:* Defence | #MEDIUMIMPACT #Defence
Defence supplier stock surges 15% on Navy warship role
Bharat Electronics Limited (BEL) jumped **15%** after contributing to the commissioning of three Indian Navy warships. The multibagger stock gained on back of strong defence order momentum and strategic involvement in key naval projects. BEL’s critical role highlights its growing footprint in indigenous defence manufacturing. 📊 *STOCKS:* BEL | 🏢 *SECTOR:* Defence | #MEDIUMIMPACT #Defence
Jefferies picks HAL, BEL, L&T, KEI for growth amid capex boom
*Jefferies names HAL, BEL, L&T, KEI as top picks amid India's capex surge.* The brokerage highlights strong order flows in defence and power sectors, driven by **₹10 lakh crore**+ government capex plans. Earnings visibility and execution track records make these stocks attractive. Long-term infra and defence spending trends remain favorable. 📊 *STOCKS:* HAL | BEL | LT | KEI | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #Defence
India to finalize deal for 114 Rafale fighter jets
*India to finalize deal for 114 Rafale fighter jets.* The government has finalized the request letter and will soon send it to France, marking a key step toward a major defence procurement. The deal could be worth over **$15 billion**, boosting domestic defence manufacturing. Ancillary players like BEL and HAL may benefit from subcontracting opportunities. 📊 *STOCKS:* BEL, HAL | 🏢 *SECTOR:* Defence | #MEDIUMIMPACT #Defence
Morgan Stanley forecasts Sensex at 89,000 by 2027
*Morgan Stanley forecasts Sensex to reach 89,000 by June 2027*, driven by India’s next capex cycle. The brokerage identifies 7 key stocks across infrastructure, defense, and capital goods as primary beneficiaries. **₹500,000 crore** in estimated capex over the next few years could fuel earnings growth. Institutional focus on domestic cyclicals may accelerate F&O activity. 📊 *STOCKS:* LT, ULTRACEMCO, HAL, BEL, TATAMOTORS, POWERGRID, IRFC | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #Capex
BEL wins ₹1,251 crore defence order
*BEL wins ₹1,251 crore defence order*\nBharat Electronics has secured a **₹1,251 crore** order from the Ministry of Defence. The contract strengthens BEL's order book and reinforces its dominance in India's defence electronics sector. Such orders are key to maintaining revenue momentum in the defence space.\n\n📊 *STOCKS:* BEL | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #OrderWin
Financials
Quarterly Results
| Metric | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹7.2K Cr ▲23.5% | ₹5.8K Cr ▲30.5% | ₹4.4K Cr ▼51.5% | ₹9.2K Cr ▲58.6% | ₹5.8K Cr ▲25.3% | ₹4.6K Cr ▲8.5% | ₹4.2K Cr ▼50.4% | ₹8.6K Cr |
| Op. Profit | ₹2.1K Cr ▲25.0% | ₹1.7K Cr ▲37.5% | ₹1.2K Cr ▼56.0% | ₹2.8K Cr ▲68.7% | ₹1.7K Cr ▲19.2% | ₹1.4K Cr ▲47.7% | ₹948 Cr ▼58.5% | ₹2.3K Cr |
| OPM | 30.0% ▲3.4% | 29.0% ▲3.6% | 28.0% ▼9.7% | 31.0% ▲6.9% | 29.0% ▼3.3% | 30.0% ▲36.4% | 22.0% ▼18.5% | 27.0% |
| Net Profit | ₹1.6K Cr ▲22.8% | ₹1.3K Cr ▲32.8% | ₹969 Cr ▼54.4% | ₹2.1K Cr ▲62.1% | ₹1.3K Cr ▲20.0% | ₹1.1K Cr ▲38.2% | ₹791 Cr ▼56.0% | ₹1.8K Cr |
| EPS (₹) | 2.16 ▲22.7% | 1.76 ▲32.3% | 1.33 ▼54.3% | 2.91 ▲62.6% | 1.79 ▲20.1% | 1.49 ▲38.0% | 1.08 ▼56.1% | 2.46 |
Values in ₹ Cr · Source: Screener.in
Annual Profit & Loss
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹27.6K Cr ▲16.2% | ₹23.8K Cr ▲17.3% | ₹20.3K Cr ▲14.3% | ₹17.7K Cr ▲15.4% | ₹15.4K Cr ▲8.9% | ₹14.1K Cr ▲8.8% | ₹13.0K Cr ▲6.6% | ₹12.2K Cr ▲17.0% | ₹10.4K Cr ▲20.2% | ₹8.7K Cr |
| Expenses | ₹19.6K Cr ▲15.5% | ₹16.9K Cr ▲11.3% | ₹15.2K Cr ▲11.5% | ₹13.6K Cr ▲13.5% | ₹12.0K Cr ▲10.4% | ₹10.9K Cr ▲6.7% | ₹10.2K Cr ▲10.3% | ₹9.3K Cr ▲10.7% | ₹8.4K Cr ▲21.8% | ₹6.9K Cr |
| Op. Profit | ₹8.0K Cr ▲17.7% | ₹6.8K Cr ▲35.4% | ₹5.1K Cr ▲23.5% | ₹4.1K Cr ▲22.3% | ₹3.3K Cr ▲4.0% | ₹3.2K Cr ▲16.5% | ₹2.8K Cr ▼5.2% | ₹2.9K Cr ▲42.7% | ₹2.0K Cr ▲13.8% | ₹1.8K Cr |
| OPM | 29.0% ▲0.0% | 29.0% ▲16.0% | 25.0% ▲8.7% | 23.0% ▲4.5% | 22.0% ▼4.3% | 23.0% ▲9.5% | 21.0% ▼12.5% | 24.0% ▲20.0% | 20.0% ▼4.8% | 21.0% |
| Other Income | ₹566 Cr ▼23.7% | ₹742 Cr ▲10.7% | ₹670 Cr ▲138.4% | ₹281 Cr ▲21.1% | ₹232 Cr ▲85.6% | ₹125 Cr ▲26.3% | ₹99 Cr ▲35.6% | ₹73 Cr ▼62.8% | ₹196 Cr ▼53.3% | ₹420 Cr |
| Interest | ₹7 Cr ▼46.2% | ₹13 Cr ▲8.3% | ₹12 Cr ▼36.8% | ₹19 Cr ▲111.1% | ₹9 Cr ▼10.0% | ₹10 Cr ▲25.0% | ₹8 Cr ▼50.0% | ₹16 Cr ▲166.7% | ₹6 Cr ▼66.7% | ₹18 Cr |
| Depreciation | ₹556 Cr ▲19.1% | ₹467 Cr ▲5.4% | ₹443 Cr ▲3.3% | ₹429 Cr ▲7.0% | ₹401 Cr ▲3.6% | ₹387 Cr ▲4.0% | ₹372 Cr ▲10.1% | ₹338 Cr ▲24.3% | ₹272 Cr ▲28.3% | ₹212 Cr |
| PBT | ₹8.1K Cr ▲13.4% | ₹7.1K Cr ▲34.8% | ₹5.3K Cr ▲34.2% | ₹3.9K Cr ▲23.9% | ₹3.2K Cr ▲7.6% | ₹2.9K Cr ▲18.7% | ₹2.5K Cr ▼5.7% | ₹2.6K Cr ▲34.3% | ₹2.0K Cr ▼1.3% | ₹2.0K Cr |
| Tax % | 25.0% ▼3.8% | 26.0% ▲4.0% | 25.0% ▲0.0% | 25.0% ▼3.8% | 26.0% ▼13.3% | 30.0% ▲7.1% | 28.0% ▼6.7% | 30.0% ▲7.1% | 28.0% ▲16.7% | 24.0% |
| Net Profit | ₹6.1K Cr ▲13.9% | ₹5.3K Cr ▲33.6% | ₹4.0K Cr ▲33.5% | ₹3.0K Cr ▲24.4% | ₹2.4K Cr ▲14.3% | ₹2.1K Cr ▲15.1% | ₹1.8K Cr ▼3.3% | ₹1.9K Cr ▲31.9% | ₹1.4K Cr ▼6.0% | ₹1.5K Cr |
| EPS (₹) | 8.29 ▲13.9% | 7.28 ▲33.6% | 5.45 ▲33.6% | 4.08 ▲24.4% | 3.28 ▲14.3% | 2.87 ▲14.8% | 2.5 ▼3.1% | 2.58 ▲31.6% | 1.96 ▼5.3% | 2.07 |
| Div Payout | 30.0% ▼9.1% | 33.0% ▼17.5% | 40.0% ▼9.1% | 44.0% ▼4.3% | 46.0% ▲0.0% | 46.0% ▲24.3% | 37.0% ▼15.9% | 44.0% ▲29.4% | 34.0% ▲3.0% | 33.0% |
Values in ₹ Cr · Source: Screener.in
Balance Sheet
| Item | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Liabilities | ||||||||||
| Equity Capital | ₹731 Cr ▲0.0% | ₹731 Cr ▲0.0% | ₹731 Cr ▲0.0% | ₹731 Cr ▲199.6% | ₹244 Cr ▲0.0% | ₹244 Cr ▲0.0% | ₹244 Cr ▲0.0% | ₹244 Cr ▲0.0% | ₹244 Cr ▲9.4% | ₹223 Cr |
| Reserves | ₹20.8K Cr ▲8.3% | ₹19.2K Cr ▲23.4% | ₹15.6K Cr ▲18.8% | ₹13.1K Cr ▲9.0% | ₹12.0K Cr ▲11.3% | ₹10.8K Cr ▲10.1% | ₹9.8K Cr ▲9.6% | ₹9.0K Cr ▲15.4% | ₹7.8K Cr ▲3.5% | ₹7.5K Cr |
| Borrowings | ₹59 Cr ▼3.3% | ₹61 Cr ▼3.2% | ₹63 Cr ▲3.3% | ₹61 Cr ▲15.1% | ₹53 Cr ▲1666.7% | ₹3 Cr ▼62.5% | ₹8 Cr ▼76.5% | ₹34 Cr ▼57.5% | ₹80 Cr ▲25.0% | ₹64 Cr |
| Other Liabilities | ₹21.3K Cr ▲2.5% | ₹20.8K Cr ▼10.1% | ₹23.1K Cr ▲7.3% | ₹21.6K Cr ▼0.0% | ₹21.6K Cr ▲17.1% | ₹18.4K Cr ▲29.1% | ₹14.3K Cr ▲23.3% | ₹11.6K Cr ▲6.5% | ₹10.9K Cr ▲10.9% | ₹9.8K Cr |
| Total Liabilities | ₹42.9K Cr ▲5.1% | ₹40.8K Cr ▲3.3% | ₹39.5K Cr ▲11.4% | ₹35.5K Cr ▲4.7% | ₹33.9K Cr ▲15.0% | ₹29.5K Cr ▲21.1% | ₹24.4K Cr ▲17.0% | ₹20.8K Cr ▲9.8% | ₹19.0K Cr ▲7.8% | ₹17.6K Cr |
| Assets | ||||||||||
| Fixed Assets | ₹4.1K Cr ▲20.3% | ₹3.4K Cr ▲12.7% | ₹3.0K Cr ▲2.4% | ₹3.0K Cr ▲10.8% | ₹2.7K Cr ▲0.9% | ₹2.7K Cr ▼2.2% | ₹2.7K Cr ▲18.1% | ₹2.3K Cr ▲25.0% | ₹1.8K Cr ▲22.5% | ₹1.5K Cr |
| CWIP | ₹564 Cr ▼46.4% | ₹1.1K Cr ▲17.7% | ₹894 Cr ▲4.6% | ₹855 Cr ▼15.0% | ₹1.0K Cr ▲13.9% | ₹883 Cr ▲6.6% | ₹828 Cr ▼2.5% | ₹849 Cr ▼9.7% | ₹940 Cr ▲26.5% | ₹743 Cr |
| Investments | ₹779 Cr ▲4.8% | ₹743 Cr ▲8.9% | ₹682 Cr ▲4.9% | ₹650 Cr ▼58.7% | ₹1.6K Cr ▲20.4% | ₹1.3K Cr ▲17.7% | ₹1.1K Cr ▲15.1% | ₹964 Cr ▲2.9% | ₹937 Cr ▲90.8% | ₹491 Cr |
| Other Assets | ₹37.5K Cr ▲5.2% | ₹35.6K Cr ▲2.0% | ₹34.9K Cr ▲12.5% | ₹31.0K Cr ▲8.2% | ₹28.7K Cr ▲16.3% | ₹24.7K Cr ▲25.1% | ₹19.7K Cr ▲17.9% | ₹16.7K Cr ▲9.6% | ₹15.2K Cr ▲2.6% | ₹14.9K Cr |
| Total Assets | ₹42.9K Cr ▲5.1% | ₹40.8K Cr ▲3.3% | ₹39.5K Cr ▲11.4% | ₹35.5K Cr ▲4.7% | ₹33.9K Cr ▲15.0% | ₹29.5K Cr ▲21.1% | ₹24.4K Cr ▲17.0% | ₹20.8K Cr ▲9.8% | ₹19.0K Cr ▲7.8% | ₹17.6K Cr |
Values in ₹ Cr · Source: Screener.in
Cash Flow Statement
| Item | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating CF | ₹587 Cr ▼87.4% | ₹4.7K Cr ▲288.6% | ₹1.2K Cr ▼71.5% | ₹4.2K Cr ▼17.4% | ₹5.1K Cr ▲98.2% | ₹2.6K Cr ▲69.7% | ₹1.5K Cr ▲320.4% | ₹-687 Cr ▼1026.2% | ₹-61 Cr ▼102.7% | ₹2.3K Cr |
| Investing CF | ₹617 Cr ▲110.4% | ₹-5.9K Cr ▼318.8% | ₹2.7K Cr ▲155.6% | ₹-4.9K Cr ▼87.7% | ₹-2.6K Cr ▼299.8% | ₹-649 Cr ▲27.6% | ₹-896 Cr ▼14833.3% | ₹-6 Cr ▼100.2% | ₹3.1K Cr ▲311.9% | ₹-1.5K Cr |
| Financing CF | ₹-1.7K Cr ▼15.0% | ₹-1.5K Cr ▼16.9% | ₹-1.3K Cr ▼17.1% | ₹-1.1K Cr ▼0.2% | ₹-1.1K Cr ▼1.4% | ₹-1.1K Cr ▼60.0% | ₹-663 Cr ▲44.8% | ₹-1.2K Cr ▲57.9% | ₹-2.9K Cr ▼798.4% | ₹-318 Cr |
| Net Cash Flow | ₹-493 Cr ▲82.0% | ₹-2.7K Cr ▼203.6% | ₹2.6K Cr ▲251.8% | ₹-1.7K Cr ▼222.5% | ₹1.4K Cr ▲65.2% | ₹861 Cr ▲2013.3% | ₹-45 Cr ▲97.6% | ₹-1.9K Cr ▼1061.9% | ₹197 Cr ▼58.3% | ₹472 Cr |
| Free Cash Flow | ₹-422 Cr ▼110.5% | ₹4.0K Cr ▲557.1% | ₹611 Cr ▼83.3% | ₹3.7K Cr ▼20.9% | ₹4.6K Cr ▲153.4% | ₹1.8K Cr ▲132.5% | ₹785 Cr ▲152.6% | ₹-1.5K Cr ▼74.9% | ₹-853 Cr ▼153.1% | ₹1.6K Cr |
Values in ₹ Cr · Source: Screener.in
Key Ratios History
| Metric | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 140d ▲5.3% | 133d ▼8.3% | 145d ▲0.0% | 145d ▼14.7% | 170d ▼10.1% | 189d ▲17.4% | 161d ▼8.5% | 176d ▼4.3% | 184d ▼0.5% | 185d |
| Inventory Days | 273d ▲6.2% | 257d ▲7.1% | 240d ▲4.3% | 230d ▼1.3% | 233d ▲14.2% | 204d ▼25.8% | 275d ▼9.8% | 305d ▼25.1% | 407d ▲1.5% | 401d |
| Days Payable | 100d ▼21.9% | 128d ▲3.2% | 124d ▼10.8% | 139d ▼10.3% | 155d ▲23.0% | 126d ▲41.6% | 89d ▼2.2% | 91d ▼15.7% | 108d ▼3.6% | 112d |
| Cash Conv. Cycle | 313d ▲19.5% | 262d ▲0.4% | 261d ▲10.1% | 237d ▼4.4% | 248d ▼7.1% | 267d ▼23.1% | 347d ▼11.0% | 390d ▼19.3% | 483d ▲2.1% | 473d |
| Working Capital Days | 85d ▲372.2% | 18d ▼35.7% | 28d ▲600.0% | 4d ▼91.5% | 47d ▼60.5% | 119d ▼11.2% | 134d ▲7.2% | 125d ▲98.4% | 63d ▲687.5% | 8d |
| ROCE | 39.0% ▲11.4% | 35.0% ▲16.7% | 30.0% ▲11.1% | 27.0% ▼3.6% | 28.0% ▲7.7% | 26.0% ▼13.3% | 30.0% ▲20.0% | 25.0% ▲8.7% | 23.0% ▲15.0% | 20.0% |
Source: Screener.in · Lower days = better efficiency
Deep Dive Analysis
About Bharat Electronics Limited
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]
Capital Goods · Aerospace & Defense