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Bharat Electronics Ltd.

Capital GoodsAerospace & Defense

www.bel-india.in BSE: 500049NSE: BEL

₹358.25BSE2.06%

23 Oct, 1:48 PM

₹358.25

₹2.68L Cr

43.65

10.72

27.40%

₹366.30

₹354.70

₹473.25

₹360.80

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Price Performance

Peer Comparison

Name
HAL HAL	4,768.00	34.98	3,18,871.92	0.92	1,589.66	14.88%	5,515.17	14.45%	31.99
Bharat Electronics Ltd. BEL	358.25	43.65	2,68,268.88	0.68	1,054.53	8.82%	5,546.98	24.94%	36.68
DATAPATTNS DATAPATTNS	3,880.50	2,842.47	21,724.58	0.26					11.11
AEQUS AEQUS	239.40		16,055.74	0.00	-53.23	-1,571.61%	395.54	54.77%	1.50
ASTRA MICRO ASTRAMICRO	1,505.00	77.48	14,289.22	0.16	12.35	-24.12%	176.66	-11.55%	20.29
APOLLO APOLLO	375.60	119.09	13,957.28	0.06	25.22	42.58%	251.29	88.12%	14.52
ZEN TECH ZENTEC	1,482.80	78.30	13,388.64	0.06	31.85	-39.99%	141.64	-10.48%	16.83
PARAS PARAS	1,185.45	102.78	9,553.23	0.08	20.74	45.34%	127.91	37.26%	18.68

Quarterly Results

consolidated figures in ₹ Crores · Quarterly

Particulars	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	8,564.08	4,243.57	4,604.90	5,770.69	9,149.59	4,439.74	5,792.09	7,153.85	10,224.43	5,546.98
Expenses	6,276.85	3,295.37	3,204.95	4,101.20	6,333.53	3,201.47	4,089.92	5,026.61	7,242.78	4,158.58
	2,287.23	948.20	1,399.95	1,669.49	2,816.06	1,238.27	1,702.17	2,127.24	2,981.65	1,388.40
	26.71%	22.34%	30.40%	28.93%	30.78%	27.89%	29.39%	29.74%	29.16%	25.03%
	225.43	203.58	157.76	186.38	194.64	163.32	153.92	138.54	110.25	169.56
Interest	4.05	1.18	1.32	1.32	5.86	1.44	1.65	2.03	1.61	1.16
	118.54	107.68	111.19	110.93	137.58	120.79	126.49	135.44	172.95	160.55
	2,401.08	1,053.21	1,454.10	1,753.95	2,873.27	1,287.74	1,736.69	2,137.82	2,929.50	1,406.88
	25.17%	24.87%	24.85%	25.22%	25.97%	24.75%	25.88%	26.11%	24.00%	25.04%
	1,797.11	791.00	1,092.45	1,310.95	2,127.04	969.91	1,287.77	1,579.10	2,225.22	1,054.34
	2.46	1.08	1.49	1.79	2.91	1.33	1.76	2.16	3.04	1.44

Profit & Loss

consolidated figures in ₹ Crores · Annual

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
INCOME :
	15,378.44	17,734.83	20,268.46	23,768.91	27,610.18
	15,368.18	17,734.44	20,268.24	23,768.75	27,610.11
EXPENDITURE :
Increase/Decrease in Stock	-280.28	-393.28	-561.72	-821.36	-596.88
Raw Material Consumed	9,146.85	10,220.84	11,138.04	13,008.59	14,630.03
Power & Fuel Cost	43.13	46.81	57.21	55.85	58.73
Employee Cost	2,128.01	2,317.34	2,489.49	2,760.63	3,115.55
Other Manufacturing Expenses	197.16	156.72	183.46	199.90	238.43
General and Administration Expenses	155.09	220.24	272.39	300.60	327.54
Selling and Distribution Expenses	47.00	48.98	58.28	56.87	70.93
Miscellaneous Expenses	609.11	1,119.94	1,760.25	1,525.80	2,009.49
	12,046.07	13,737.59	15,397.40	17,086.88	19,853.82
Operating Profit (Excl OI)	3,322.11	3,996.85	4,870.84	6,681.87	7,756.29
	253.81	373.72	850.63	897.04	862.47
	3,575.92	4,370.57	5,721.47	7,578.91	8,618.76
Interest	8.55	18.84	12.06	12.53	10.13
PBDT	3,567.37	4,351.73	5,709.41	7,566.38	8,608.63
	401.13	428.82	443.20	467.38	555.67
Profit Before Taxation & Exceptional Items	3,166.24	3,922.91	5,266.21	7,099.00	8,052.96
	3,166.24	3,922.91	5,266.21	7,099.00	8,052.96
Provision for Tax	811.78	982.56	1,323.10	1,811.85	2,029.49
	2,354.46	2,940.35	3,943.11	5,287.15	6,023.47
Extra items				0.00	0.00
Minority Interest	-1.35	-1.82	-0.72	-1.24	-0.26
Share of Associate	45.76	45.89	42.13	35.53	38.79
Consolidated Net Profit	2,398.87	2,984.42	3,984.52	5,321.44	6,062.00
Profit Balance B/F	7,034.55	8,010.07	9,351.79	11,474.35	14,714.55
Appropriations	9,433.42	10,994.49	13,336.31	16,795.79	20,776.55
Equity Dividend %	450.00%	180.00%	220.00%	240.00%	250.00%
	9.85	4.08	5.45	7.28	8.29
Adjusted EPS	3.28	4.08	5.45	7.28	8.29

Balance Sheet

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
	243.66	730.98	730.98	730.98	730.98
Total Reserves	12,042.27	13,130.65	15,595.49	19,242.91	23,257.33
Reserve excluding Revaluation Reserve	12,042.27	13,130.65	15,595.49	19,242.91	23,257.33
	12,285.93	13,861.63	16,326.47	19,973.89	23,988.31
Minority Interest	16.34	17.75	17.92	18.94	18.83
Deferred Tax Assets / Liabilities	-619.49	-500.83	-569.21	-525.32	-576.72
Other Long Term Liabilities	220.16	198.10	182.81	174.81	176.05
Long Term Trade Payables	0.34	0.37
Long Term Provisions	1,805.32	844.65	967.28	902.16	1,083.83
Total Non-Current Liabilities	1,406.33	542.29	580.88	551.65	683.16
Trade Payables	3,369.30	3,330.38	3,706.31	3,338.77	3,583.40
Other Current Liabilities	15,787.23	16,607.86	17,625.61	15,674.06	14,821.88
Short Term Provisions	424.51	627.54	694.81	739.71	854.47
Total Current Liabilities	19,581.04	20,565.78	22,026.73	19,752.54	19,259.75
Total Liabilities	33,289.64	34,987.45	38,952.00	40,297.02	43,950.05
Gross Block	4,832.18	5,541.08	6,037.75	6,868.57	8,105.55
Less: Accumulated Depreciation	2,156.99	2,578.28	3,002.58	3,449.38	3,984.93
Net Block	2,675.19	2,962.80	3,035.17	3,419.19	4,120.62
Capital Work in Progress	445.93	361.23	456.42	476.98	485.50
Non Current Investments	1,572.02	649.99	682.23	742.97	799.59
Long Term Investment	1,572.02	649.99	682.23	742.97	799.59
Long Term Loans & Advances	59.95	48.49	51.22	38.03	44.21
Other Non Current Assets	682.66	423.43	226.64	187.11	197.56
Total Non-Current Assets	5,995.93	4,939.71	4,889.02	5,439.14	5,893.18
Inventories	5,591.90	6,448.04	7,446.89	9,118.98	10,175.53
Sundry Debtors	6,108.09	7,033.48	7,392.38	9,116.37	12,875.76
Cash and Bank	7,563.74	8,111.58	11,056.59	9,545.10	8,572.03
Other Current Assets	171.64	254.86	324.50	290.58	193.41
Short Term Loans and Advances	7,858.34	8,199.78	7,842.62	6,786.85	6,240.14
Total Current Assets	27,293.71	30,047.74	34,062.98	34,857.88	38,056.87
Net Current Assets (Including Current Investments)	7,712.67	9,481.96	12,036.25	15,105.34	18,797.12
Total Assets	33,289.64	34,987.45	38,952.00	40,297.02	43,950.05
Contingent Liabilities	2,132.72	2,387.80	3,611.96	3,015.10	3,134.49
Total Debt	0.00	0.00	0.00	0.00	0.00
	50.42	18.96	22.34	27.32	32.82
Adjusted Book Value	16.81	18.96	22.34	27.32	32.82

Cash Flow

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
	3,212.00	3,968.80	5,308.34	7,134.53	8,091.75
Adjustment	265.63	832.02	-48.54	-185.36	29.17
Changes In working Capital	1,533.88	-2,534.23	818.06	-4,710.26	-4,558.93
Cash Flow after changes in Working Capital	5,011.51	2,266.59	6,077.86	2,238.91	3,561.99
Cash Flow from Operating Activities	4,207.22	1,199.26	4,659.49	564.27	1,541.37
Cash Flow from Investing Activities	-4,871.66	2,707.65	-5,923.85	639.29	1,730.00
Cash Flow from Financing Activitie	-1,077.60	-1,262.08	-1,475.01	-1,696.43	-2,096.86
Net Cash Inflow / Outflow	-1,742.04	2,644.83	-2,739.37	-492.87	1,174.51
Opening Cash & Cash Equivalents	3,042.90	1,300.86	3,945.69	1,206.32	713.45
Closing Cash & Cash Equivalent	1,300.86	3,945.69	1,206.32	713.45	1,887.96

Ratios

Valuation

43.65

10.72

29.61

9.34

8.41

34.24

Profitability

27.40

36.68

14.30

28.09

21.82

Leverage & Liquidity

0.00

1.98

795.96

Returns

0.68

0.66

Shareholding Pattern

Numbers in percentages

Particulars	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26	Jun '26	Sep '26
	51.14	51.14	51.14	51.14	51.14	51.14	51.14	51.14	51.14	51.14
	38.04	37.48	38.28	38.43	39.16	39.03	38.99	39.49	39.04	38.86
	10.82	11.38	10.59	10.43	9.70	9.84	9.87	9.37	9.82	10.00
	48.86	48.86	48.86	48.86	48.86	48.86	48.86	48.86	48.86	48.86
No. of Shareholders	25,18,663	27,72,002	26,53,676	26,78,435	25,42,378	24,98,588	25,43,622	25,30,896	26,04,298	26,45,635

Mutual Funds Invested(494)

Based on each fund's latest monthly portfolio · Sep 2026

A total of 311 active funds hold 8.91% in Bharat Electronics Ltd., contributing to ₹25.28K Cr of holdings

Fund				As of
NI CPSE Exchange Traded SchemeIndex	3,764.22	20.19	9,69,41,098	Sep '26
KO Kotak Flexi Cap Fund - Growth - Direct PlanFlexi Cap Fund	2,834.59	5.34	7,30,00,000	Sep '26
SB SBI Nifty 50 ETFIndex	2,697.24	1.33	6,94,62,874	Sep '26
SB SBI BSE Sensex ETFIndex	1,876.31	1.62	4,81,29,058	Sep '26
HD HDFC Defence Fund - Growth - Direct PlanEquity - Thematic Fund - Other	1,708.53	14.87	4,40,00,130	Sep '26
KO Kotak Mid Cap Fund - Growth - Direct PlanMid Cap Fund	1,304.21	1.96	3,35,87,745	Sep '26
KO Kotak Large & Mid Cap Fund - Growth - Direct PlanLarge & Mid Cap	1,087.24	3.56	2,80,00,000	Sep '26
MO Motilal Oswal Nifty India Defence Index Fund - Growth - Direct PlanIndex Funds - Other	1,085.00	19.97	2,79,42,349	Sep '26
UT UTI Nifty 50 ETFIndex	925.01	1.33	2,38,22,053	Sep '26
UT UTI BSE Sensex ETFIndex	884.14	1.62	2,26,78,871	Sep '26

Corporate Actions

Showing: All

Date	Type	Details
2026-10-16	Board Meeting	Quarterly Results
2026-08-06	AGM
2026-07-13	Board Meeting	Quarterly Results

Insider Trading

Date	Person	Category	Transaction Type	Shares	Value (₹)

No insider trading data available.

Sector Overview

Capital GoodsAerospace & Defense

Bharat Electronics Ltd. operates in the Capital Goods sector under the Aerospace & Defense industry. This sector is one of the key drivers of the Indian economy and is closely tracked by the relevant Nifty sectoral index.

Company Profile

Corporate information and contact details

Key Management

14 members across the board and senior leadership

S Sreenivas

Company Secretary & Compliance Officer

—

Manoj Jain

Chairman & Managing Director

₹1.04 Cr

Mar '26

Damodar Bhattad

Whole Time Director - Finance & CFO

₹86.32 L

Mar '26

Damodar S Bhattad

Whole Time Director - Finance & CFO

₹83.63 L

Mar '25

Rajnish Sharma

Whole Time Director - Bangalore Complex

₹81.23 L

Mar '26

Hari Kumar R

Whole Time Director - R & D

₹63.22 L

Mar '26

Kamesh Kasana

Whole Time Director & Other Units

₹57.78 L

Mar '26

Meera Mohanty

Government Nominee Director

—

Binoy Kumar Das

Government Nominee Director

—

Pradeep Tripathi

Non Executive Independent Director

₹8.55 L

Mar '26

Bharatsinh Prabhatsinh Parmar

Non Executive Independent Director

₹9.55 L

Mar '26

Ambrish Tripathi

Director - HR

—

Anoop Kumar Rai

Director - Marketing

—

Partha Pratim Pathak

Non-Official Director

—

BEL Latest News

News

10 of 10 articles

COMPANY22 Oct 2026 · 10:27

Bharat Electronics secures additional orders worth Rs 1,011 crore

Major orders received include Improved Low Level Light weight Radar, communication equipment, sonar, jammer, upgrade, spares, services etc

COMPANY13 Oct 2026 · 17:13

Bharat Electronics secures additional orders worth Rs 533 crore

Major orders received include communication equipment, avionics, cyber security solution, drones, jammers software solution, upgrades, spares, services etc

EQUITY22 Sept 2026 · 09:28

Bharat Electronics inches up on signing MoU with CDAC

The MoU is to jointly pursue the Sovereign Data Centre Infrastructure opportunities

COMPANY22 Sept 2026 · 09:09

Bharat Electronics signs MoU with CDAC

The MoU is to jointly pursue the Sovereign Data Centre Infrastructure opportunities

EQUITY18 Sept 2026 · 09:29

Bharat Electronics inches up on securing additional orders worth Rs 648 crore

Major orders received include Laser based IR jammer, communication equipment, cyber security solution, thermal imager, transducer, AI based software solution etc

COMPANY18 Sept 2026 · 09:17

Bharat Electronics secures additional orders worth Rs 648 crore

Major orders received include Laser based IR jammer, communication equipment, cyber security solution, thermal imager, transducer, AI based software solution etc

EQUITY27 Aug 2026 · 09:54

Bharat Electronics rises on securing additional orders worth Rs 730 crore

Major orders received include communication equipment, radar, avionics, tank sub system, electro optics etc

COMPANY26 Aug 2026 · 18:16

Bharat Electronics secures additional orders worth Rs 730 crore

Major orders received include communication equipment, radar, avionics, tank sub system, electro optics etc

COMPANY11 Aug 2026 · 10:12

Bharat Electronics wins additional orders worth Rs 541 crore

Major orders received include communication equipment, electro optics, ammunition fuzes, Chemical Biological Radiological and Nuclear systems, spares, services etc

EQUITY4 Aug 2026 · 11:35

Bharat Electronics rises on signing MoU with Esri India Technologies

MoU is aimed for Cooperation in Surge Deployment for BEL/Defence Services

BEL

₹358.25

-2.06%