Capital Goods · NIFTY 50
Bharat Electronics Limited
NSEBEL
BSE500049 ISININE263A01024 SeriesEQ Listed on NSE · BSE
₹404.80 +5.80 (+1.45%) Updated 12 Nov, 6:47 pm IST
Price, daily close-4.61% in a year
Today
- Open
- ₹401.40
- Prev close
- ₹399.00
- Day high
- ₹406.70
- Day low
- ₹398.60
- Volume
- 1.14 Cr
- Value traded
- ₹460.65 Cr
- Upper circuit
- ₹415.65
- Lower circuit
- ₹391.45
- 52W high
- ₹473.45
- 52W low
- ₹354.55
- 1 month
- +7.81%
- 6 months
- -8.32%
52W low52W high
Ratios
Key numbers
Worked out from the latest filings (Consolidated) and today's price. TTM = last four quarters.
Market cap₹295,901 Cr
P/E (TTM)46.26
P/B11.27
Book value / share₹35.92
EPS (TTM)₹8.75
ROE24.4%
Dividend yield0.62%
Dividend (12m)₹2.50 / share
Net margin (TTM)21.2%
Operating margin27.9%
Debt / equity—
Current ratio2.16
EV / EBITDA34.55
Sales growth (YoY qtr)+26.51%
Profit growth (YoY qtr)+19.60%
Sales CAGR 3Y+15.90%
Profit CAGR 3Y+26.64%
Shares730.98 Cr
Quarterly results
Results for each quarter
Last 12 quarters, consolidated, ₹ crore. Hover a bar to see the number.
Revenue and net profit
Dec 23
Mar 24
Jun 24
Sep 24
Dec 24
Mar 25
Jun 25
Sep 25
Dec 25
Mar 26
Jun 26
Sep 26
Revenue · QoQ (vs last quarter)
—+106%-50%+8.5%+25%+59%-51%+30%+24%+43%-46%+32%
Revenue · YoY (vs a year ago)
————+39%+6.8%+4.6%+26%+24%+12%+25%+27%
Net profit · QoQ (vs last quarter)
—+109%-56%+38%+20%+62%-54%+33%+23%+41%-53%+46%
Net profit · YoY (vs a year ago)
————+53%+18%+23%+18%+20%+4.6%+8.7%+20%
RevenueNet profitLine = trend
Dec 23
Mar 24
Jun 24
Sep 24
Dec 24
Mar 25
Jun 25
Sep 25
Dec 25
Mar 26
Jun 26
Sep 26
EPS (₹) · YoY (vs a year ago)
————+53%+18%+23%+17%+21%+4.5%+8.3%+20%
EPS (₹)Line = trend
| ₹ Cr | Dec 23 | Mar 24 | Jun 24 | Sep 24 | Dec 24 | Mar 25 | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 4,162 | 8,564 | 4,244 | 4,605 | 5,771 | 9,150 | 4,440 | 5,792 | 7,154 | 10,224 | 5,547 | 7,328 |
| Other income | 167 | 225 | 204 | 158 | 186 | 195 | 163 | 154 | 139 | 110 | 170 | 187 |
| Total income | 4,330 | 8,790 | 4,447 | 4,763 | 5,957 | 9,344 | 4,603 | 5,946 | 7,292 | 10,335 | 5,717 | 7,515 |
| Raw material | 2,188 | 4,564 | 2,557 | 2,416 | 3,176 | 4,429 | 1,961 | 3,014 | 4,113 | 4,794 | 3,041 | 3,444 |
| Purchases | 176 | 178 | 66.9 | 85.3 | 104 | 174 | 99.2 | 104 | 167 | 379 | 280 | 287 |
| Employee cost | 625 | 637 | 667 | 656 | 672 | 766 | 696 | 768 | 820 | 831 | 793 | 767 |
| Other expenses | 333 | 1,229 | 314 | 407 | 448 | 819 | 429 | 484 | 382 | 1,117 | 345 | 541 |
| Total expenses | 3,198 | 6,399 | 3,404 | 3,317 | 4,213 | 6,477 | 3,324 | 4,218 | 5,164 | 7,417 | 4,320 | 5,461 |
| Operating profit | 1,073 | 2,287 | 948 | 1,400 | 1,669 | 2,816 | 1,238 | 1,702 | 2,127 | 2,982 | 1,388 | 2,041 |
| OPM % | 25.8% | 26.7% | 22.3% | 30.4% | 28.9% | 30.8% | 27.9% | 29.4% | 29.7% | 29.2% | 25.0% | 27.9% |
| Finance cost | 0.5 | 4.1 | 1.2 | 1.3 | 1.3 | 5.9 | 1.4 | 1.7 | 2.0 | 1.6 | 1.2 | 2.6 |
| Depreciation | 107 | 119 | 108 | 111 | 111 | 138 | 121 | 126 | 135 | 173 | 161 | 171 |
| Profit before tax | 1,132 | 2,390 | 1,043 | 1,445 | 1,744 | 2,867 | 1,279 | 1,728 | 2,128 | 2,917 | 1,396 | 2,054 |
| Tax | 284 | 604 | 262 | 361 | 442 | 746 | 319 | 450 | 558 | 703 | 352 | 523 |
| Net profit | 860 | 1,797 | 791 | 1,093 | 1,312 | 2,127 | 969 | 1,287 | 1,580 | 2,226 | 1,055 | 1,540 |
| Profit to shareholders | 860 | 1,797 | — | 1,092 | 1,311 | 2,127 | 970 | 1,288 | 1,579 | 2,225 | 1,054 | 1,540 |
| EPS (₹) | 1.17 | 2.46 | 1.08 | 1.50 | 1.79 | 2.91 | 1.33 | 1.76 | 2.16 | 3.04 | 1.44 | 2.11 |
Profit & loss
Results for each year
8 financial years (April to March), consolidated, ₹ crore.
Sales, operating profit and net profit
FY19
FY20
FY21
FY22
FY23
FY24
FY25
FY26
Revenue · YoY (vs a year ago)
—+6.6%+8.8%+8.9%+15%+14%+17%+16%
Net profit · YoY (vs a year ago)
—-3.3%+15%+14%+24%+34%+34%+14%
RevenueOperating profitNet profitLine = trend
| ₹ Cr | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 12,164 | 12,968 | 14,109 | 15,368 | 17,734 | 20,268 | 23,769 | 27,610 |
| Other income | 73.0 | 99.4 | 125 | 232 | 281 | 670 | 742 | 566 |
| Total expenses | 9,609 | 10,589 | 11,292 | 12,433 | 14,092 | 15,672 | 17,412 | 20,123 |
| Employee cost | 1,895 | 2,075 | 1,956 | 2,128 | 2,317 | 2,489 | 2,761 | 3,116 |
| Operating profit | 2,906 | 2,754 | 3,211 | 3,341 | 4,086 | 5,046 | 6,834 | 8,049 |
| OPM % | 23.9% | 21.2% | 22.8% | 21.7% | 23.0% | 24.9% | 28.8% | 29.2% |
| Finance cost | 12.8 | 3.6 | 6.4 | 5.1 | 15.0 | 7.1 | 9.7 | 6.7 |
| Depreciation | 338 | 372 | 387 | 401 | 429 | 443 | 467 | 556 |
| Profit before tax | 2,628 | 2,478 | 2,942 | 3,166 | 3,923 | 5,266 | 7,099 | 8,053 |
| Tax | 780 | 686 | 872 | 812 | 983 | 1,323 | 1,812 | 2,029 |
| Tax rate % | 29.7% | 27.7% | 29.7% | 25.6% | 25.0% | 25.1% | 25.5% | 25.2% |
| Net profit | 1,887 | 1,825 | 2,100 | 2,400 | 2,986 | 3,985 | 5,323 | 6,062 |
| Profit to shareholders | 1,886 | 1,824 | 2,099 | 2,399 | 2,984 | 3,985 | 5,321 | 6,062 |
| Net margin % | 15.5% | 14.1% | 14.9% | 15.6% | 16.8% | 19.7% | 22.4% | 22.0% |
| EPS (₹) | 7.74 | 7.49 | 8.62 | 9.85 | 4.09 | 5.45 | 7.28 | 8.29 |
Balance sheet
Assets and debt
At each year end (and the latest half year), ₹ crore.
Equity, debt and assets
Mar 23
Mar 24
Mar 25
Mar 26
Sep 26
Shareholders' equity · YoY (vs a year ago)
—+18%+22%+20%—
Shareholders' equityBorrowingsCashLine = trend
| ₹ Cr | Mar 23 | Mar 24 | Mar 25 | Mar 26 | Sep 26 |
|---|---|---|---|---|---|
| Shareholders' equity | 13,862 | 16,326 | 19,974 | 23,988 | 26,259 |
| Long-term borrowings | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Short-term borrowings | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Current liabilities | 20,566 | 22,027 | 19,753 | 19,260 | 17,928 |
| Fixed assets (PPE) | 2,694 | 2,788 | 3,205 | 3,482 | 3,682 |
| Inventories | 6,448 | 7,447 | 9,119 | 10,176 | 10,592 |
| Trade receivables | 7,033 | 7,392 | 9,116 | 12,876 | 12,036 |
| Cash & equivalents | 3,946 | 1,206 | 713 | 1,888 | 928 |
| Current assets | 30,048 | 34,063 | 34,858 | 38,057 | 38,730 |
| Total assets | 35,491 | 39,527 | 40,832 | 44,538 | 45,548 |
Cash flow
Cash coming in and going out
For each financial year, ₹ crore. Free cash flow = cash from operations minus spending on fixed assets.
Operating, investing and financing cash
FY22
FY23
FY24
FY25
FY26
Operations · YoY (vs a year ago)
—-70%+268%-87%+163%
OperationsInvestingFinancingLine = trend
| ₹ Cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 4,207 | 1,267 | 4,659 | 587 | 1,541 |
| Cash from investing | -4,872 | 2,691 | -5,924 | 617 | 1,730 |
| Cash from financing | -1,078 | -1,313 | -1,475 | -1,696 | -2,097 |
| Spent on fixed assets | -555 | -590 | -653 | -1,011 | -985 |
| Free cash flow | 3,653 | 676 | 4,007 | -425 | 556 |
| Net cash flow | -1,742 | 2,645 | -2,739 | -493 | 1,175 |
Shareholding
Who holds the shares
Promoter and public holding at each quarter end, as filed with NSE.
Holding over time
Promoter & groupPublic
Latest (30 Sep 2026)
51.1%promoter
- Promoter & group
- 51.14%
- Public (FIIs, mutual funds, retail…)
- 48.86%
- Promoter change, last quarter
- 0.00 pts
Dividends & news
Latest dividends and announcements
Dividends & corporate actions
- Dividend - Re 0.55 Per Share
- 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
- Interim Dividend - Re 0.70 Per Share
- Annual General Meeting/Dividend - Re 0.60 Per Share
Board meetings
- Bharat Electronics Limited has informed the Exchange about Board Meeting to be held on 30-Oct-2026 to inter-alia consider and approve the Unaudited F…
- Bharat Electronics Limited has informed the Exchange about Board Meeting to be held on 30-Oct-2026 to inter-alia consider and approve the Unaudited F…
- the financial results for the period ended September 30, 2026
- BHARAT ELECTRONICS LIMITED has informed the Exchange about Board Meeting to be held on 27-Jul-2026 to inter-alia consider and approve the Unaudited F…
- BHARAT ELECTRONICS LIMITED has informed the Exchange about Board Meeting to be held on 27-Jul-2026 to inter-alia consider and approve the Unaudited F…
Filings with NSE
- Bagging/Receiving of orders/contracts
- Analysts/Institutional Investor Meet/Con. Call Updates
- Analysts/Institutional Investor Meet/Con. Call Updates
- Copy of Newspaper Publication
- Outcome of Board Meeting
- Analysts/Institutional Investor Meet/Con. Call Updates
- Press Release
Latest news
BEL Share PriceUpstox · 10 Nov, 5:18 pmBharat Electronics (BEL) Share Price Today (NSE), Market NewsTechGraph · 9 Nov, 1:30 pmBEL Outlook for the WeekEquitypandit · 8 Nov, 1:30 pmDefence Stock Picks: UBS adds this PSU to its APAC 'key call' list; Sees 37% upsideCNBC TV18 · 12 Nov, 9:14 amWhy Bharat Electronics Share Price is FallingEquitymaster · 21 Oct, 12:30 pmBharat Electronics shares fall over 2% despite Rs 770-crore radar dealMoneycontrol.com · 22 Oct, 12:30 pmBEL shares down 16% in 6 months - Is a trend reversal in this multibagger defence stock on the cards? Experts decodeLivemint · 9 Oct, 12:30 pmBharat Electronics Shares Fall 4% After Q1 Results As Margins Disappoint InvestorsHDFC Sky · 28 Jul, 12:30 pmAbout
About Bharat Electronics Limited
Bharat Electronics Limited (BEL) is an Indian public sector aerospace and defence electronics company, headquartered in Bengaluru. It primarily manufactures advanced electronic products for ground and aerospace applications. BEL is one of sixteen PSUs under the administration of the Ministry of Defence of India. It has been granted Navratna status by the Government of India.
From Wikipedia (CC BY-SA 4.0).
Company details
- Company name
- Bharat Electronics Limited
- NSE symbol
- BEL
- BSE scrip code
- 500049
- ISIN
- INE263A01024
- Listed on
- NSE, BSE
- Series
- EQ (normal equity)
- Listed on NSE since
- 19 Jul 2000
- Face value
- ₹1 per share
- Market lot
- 1 share
- Shares issued
- 730.98 crore
- Index
- NIFTY 50, NIFTY 500
- Sector (NSE)
- Capital Goods
- Industry
- Aerospace & Defense
- Chair
- Manoj Jain
- Headquarters
- Bengaluru, Karnataka, India
- Registered address
- Outer Ring Raod, Nagavara, Bengaluru - 560045
- Founded
- 1954
- Employees
- 21,551
- Financial year
- April to March
- Results basis
- Consolidated
- Website
- bel-india.in
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Prices from NSE via Upstox. Financials from the company's results filed with NSE (XBRL); ratios are our own working. Profile from global-stock-logos (MIT). For information only, not a recommendation to buy or sell.