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Aerospace & Defense

Bharat Electronics

411.20-0.74%

52W High

₹473.25

52W Low

₹367.75

About

Bharat Electronics Limited is an India-based company, which manufactures and supplies electronic equipment and systems for the defense sector as well as for non-defense markets. It manufactures electronic products and systems for the army, navy, and the air force.

Key Points

Its defense products include radar and fire control systems, weapon systems, communication, network centric systems (c4i), electronic warfare systems, avionics, anti-submarine warfare systems & sonars, electro-optics, tank electronics, gun upgrades, strategic components, and others. Its non-defense products include electronic voting machines, software solutions / services, healthcare solutions, civil aviation and solar cells/power plants, railway / metro / airport solutions, space electronics and systems, alternate energy solutions, secure communication solutions.

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Bharat Electronics — Price Chart

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Bharat Electronics

411.20 0.74%
📄 BSE: 500049📄 NSE: BEL
Market Cap300395.36 Cr.
Current Price411.20
High / Low473.25 / 367.75
Stock P/E49.04
Book Value
Dividend Yield0.61 %
ROCE %
ROE %
Face Value

Fundamentals

Key Ratios

mgmt Effectiveness

Return on average equity - 5 year average

25.95

Net Income/employee - trailing 12 month

6482697.00

Revenue/employee - most recent fiscal year

30234460.00

Return on investment - most recent fiscal year

26.01

Return on average assets - most recent fiscal year

14.11

Receivables turnover - most recent fiscal year

1.78

Inventory turnover - most recent fiscal year

1.32

Revenue/employee - trailing 12 month

30485510.00

Return on average assets - 5 year average

11.00

Net Income/employee - most recent fiscal year

6596003.00

Asset turnover - most recent fiscal year

0.65

Return on average equity - most recent fiscal year

27.58

Return on investment - 5 year average

23.70

margins

Operating margin - trailing 12 month

26.48

Gross Margin - 5 year average

46.71

Operating margin - 1st historical fiscal year

27.15

Operating Margin - 5 year average

23.93

Net Profit Margin % - 1st historical fiscal year

21.82

Gross Margin - 1st historical fiscal year

48.94

Net Profit Margin % - trailing 12 month

21.26

Net Profit Margin - 5 year average

19.62

Pretax Margin - 5 year average

26.26

Pretax margin - 1st historical fiscal year

29.17

Pretax margin - trailing 12 month

28.45

Free Operating Cash Flow/Revenue, 5 Year Average

0.85

Gross Margin - trailing 12 month

47.84

financialstrength

Free Cash Flow - most recent fiscal year

-15268.80

LT debt/equity - most recent fiscal year

0.00

Quick ratio - most recent fiscal year

1.39

Payout ratio - trailing 12 month

0.00

Current ratio - most recent fiscal year

1.98

Current EV/Free Cash Flow, LFY

83.36

Total debt/total equity - most recent fiscal year

0.00

Net Interest coverage - trailing 12 month

1178.92

Payout ratio - most recent fiscal year

30.15

valuation

P/E excluding extraordinary items, most recent fiscal year

49.69

Current Dividend Yield - Common Stock Primary Issue, LTM

0.61

Price to Book - most recent fiscal year

12.55

P/E Basic excluding extraordinary items - TTM

49.04

P/E including extraordinary items - TTM

49.05

P/E excluding extraordinary items low, trailing 12 months

19.58

Price to Tangible Book - most fiscal year

13.03

Price to sales - most recent fiscal year

10.91

Dividend Yield - indicated annual dividend divided by closing price

0.45

Price to Cash Flow per share - trailing 12 month

44.92

Peg Ratio

1.84

is ForCasted

true

P/E Normalized, most recent fiscal year

49.71

P/E excluding extraordinary items high, trailing 12 months

55.98

P/E excluding extraordinary items, most recent fiscal year quarter

49.05

Price to sales - trailing 12 month

10.48

Net Debt, LFY

-84382.10

income Statement

Earnings before taxes - most recent fiscal year

80529.60

Revenue - trailing 12 month

287173.50

Net Income available to common - most recent fiscal year

60620.00

EBITD - trailing 12 month

81994.60

Net Income available to common - trailing 12 months

61464.30

Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM

8.40

Revenue - most recent fiscal year

276101.10

Net Income Available to Common, Normalized - most recent fiscal year

60595.32

Earnings before taxes - trailing 12 month

81698.50

Earnings before taxes Normalized - most recent fiscal year

80496.60

EBITD - most recent fiscal year

80512.20

growth

EPS Change %, TTM over TTM

11.52

Revenue growth rate, 5 year

14.37

EPS growth rate, 5 year

23.62

Revenue Change % - most recent quarter 1 year ago

24.94

Growth rate% - EPS, 3 year

26.63

Revenue/share (5 yr growth)

14.36

Tangible Book Value, Total Equity, 5 Year CAGR

17.29

Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year Interim CAGR

21.21

Capital Spending growth rate, 5 year

15.99

Revenue Change %, TTM over TTM

19.83

Growth rate% - Revenue, 3 year

15.90

Book value per share growth rate, 5 year

16.75

EPS Change % - most recent quarter 1 year ago

8.27

Net Profit Margin growth rate, 5 year

8.26

Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR

20.17

Total Debt, 5 Year CAGR

91.83

persharedata

Cash Flow per share - trailing 12 month

9.16

Cash Flow per share - most recent fiscal year

9.00

EPS including extraordinary items - trailing 12 month

8.40

EPS including extraordinary items - most recent fiscal year

8.29

EBITD per share - trailing 12 month

11.20

Revenue/share - trailing 12 month

39.24

EPS excluding extraordinary items - trailing 12 month

8.40

EPS Basic excluding extraordinary items - most recent fiscal year

8.29

EPS Basic excluding extraordinary items - trailing 12 month

8.40

Book value per share - most recent fiscal year

32.82

Revenue/share - most recent fiscal year

37.76

EPS Normalized - most recent fiscal year

8.29

Book value (tangible) per share - most recent fiscal year

31.61

Dividends per share - trailing 12 month

2.50

EPS excluding extraordinary items - most recent fiscal year

8.29

Cash per share - most recent fiscal year

11.63

priceand Volume

Market Cap

300395.36

52 week Low Date

2025-08-29T00:00:00

Price - 1 Day % Change

0.22

Relative (S&P500) price percent change - 13 week

-2.95

Avg trading volume last 10 days

9.16

Price - 13 week price percent change

0.28

Price - 52 week price percent change

13.21

Avg Trading Volume Last 3 months

251.79

Price - 5 Day % Change

-0.51

Price % Change Month To Date

6.20

Relative (S&P500) price percent change - 04 week

7.34

52 week High Date

2026-03-06T00:00:00

Price - 26 week price percent change

-7.38

PDATE

2026-08-28T00:00:00

Price - YTD price percent change

3.08

Relative (S&P500) price percent change - 52 week

17.33

NPRICE

411.90

Relative (S&P500) price percent change - 26 week

-2.55

52 week Low

361.60

52 week High

473.45

Beta

1.22

Relative (S&P500) price percent change - Year to Date

13.69

Peer comparison

Sector: Financials
S.No.NameCMP Rs.P/EMar Cap Rs.Cr.Div Yld %ROE %
1.Hindustan Aeronautics481232.99321814.53123.98
2.Bharat Dynamics1250109.445820.310.4110.19
3.Data Patterns (India)452083.625304.760.2416.73

Financial Performance

Quarterly Results

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue 4162.168564.084243.574604.905770.699149.594439.745792.097153.8510224.435546.98
Total Revenue 4162.168564.084243.574604.905770.699149.594439.745792.097153.8510224.435546.98
Costof Revenue Total 2131.584410.872315.102141.852981.354748.932076.082838.553824.505294.023020.97
Gross Profit 2030.584153.211928.472463.052789.344400.662363.662953.543329.354930.412526.01
Selling/ General/ Admin Expenses Total 624.96637.39666.57656.01671.97766.08696.48767.77819.88831.42792.84
Depreciation/ Amortization 107.46118.54107.68111.19110.93137.58120.79126.49135.44172.95160.55
Unusual Expense( Income) 0.000.00
Other Operating Expenses Total 333.121228.59313.70407.09447.88818.52428.91483.60382.231117.34344.77
Total Operating Expense 3197.126395.393403.053316.144212.136471.113322.264216.415162.057415.734319.13
Operating Income 965.042168.69840.521288.761558.562678.481117.481575.681991.802808.701227.85
Interest Inc( Exp) Net- Non- Op Total -0.51-4.05-1.18-1.32-1.32-5.86-1.44-1.65-2.03-1.61-1.16
Other Net 167.42225.43203.58157.76186.38194.64163.32153.92138.54110.25169.56
Net Income Before Taxes 1131.952390.071042.921445.201743.622867.261279.361727.952128.312917.341396.25
Provisionfor Income Taxes 283.83604.41261.93361.32442.35746.25318.69449.53558.12703.15352.35
Net Income After Taxes 848.121785.66780.991083.881301.272121.01960.671278.421570.192214.191043.90
Minority Interest -0.680.44-0.28-0.33-0.650.020.860.61-0.60-1.13-0.19
Equity In Affiliates 12.1411.0110.298.9010.336.018.388.749.5112.1610.63
Net Income Before Extra Items 859.581797.11791.001092.451310.952127.04969.911287.771579.102225.221054.34
Net Income 859.581797.11791.001092.451310.952127.04969.911287.771579.102225.221054.34
Income Availableto Com Excl Extra Ord 859.581797.11791.001092.451310.952127.04969.911287.771579.102225.221054.34
Income Availableto Com Incl Extra Ord 859.581797.11791.001092.451310.952127.04969.911287.771579.102225.221054.34
Diluted Net Income 859.581797.11791.001092.451310.952127.04969.911287.771579.102225.221054.34
Diluted Weighted Average Shares 734.68729.19732.41728.30732.37730.96729.26731.69731.06732.52732.18
Diluted EPS Excluding Extra Ord Items 1.172.461.081.501.792.911.331.762.163.041.44
DPS- Common Stock Primary Issue 0.700.800.000.001.500.900.000.001.950.55
Diluted Normalized EPS 1.172.461.081.501.792.911.331.762.163.041.44
period Length 33333333333

Annual Financials

Profit & Loss

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue 12164.1712967.6714108.6915368.1817734.4420268.2423768.7527610.11
Total Revenue 12164.1712967.6714108.6915368.1817734.4420268.2423768.7527610.11
Costof Revenue Total 6000.227144.148038.888953.759884.8410636.8112250.8014096.47
Gross Profit 6163.955823.536069.816414.437849.609631.4311517.9513513.64
Selling/ General/ Admin Expenses Total 2904.912931.432688.082838.583416.214112.674545.715300.81
Depreciation/ Amortization 338.12371.85387.31401.12428.81443.20467.38555.67
Interest Exp( Inc) Net- Operating Total 0.010.010.010.010.010.000.00
Unusual Expense( Income) 18.700.000.750.0024.9496.661.290.00
Other Operating Expenses Total 332.88117.92168.97233.51320.63374.18135.43161.61
Total Operating Expense 9594.8410565.3511284.0012426.9714075.4415663.5217400.6120114.56
Operating Income 2569.332402.322824.692941.213659.004604.726368.147495.55
Interest Inc( Exp) Net- Non- Op Total 68.7573.97119.65223.71271.93654.65731.59550.36
Gain( Loss)on Saleof Assets 0.270.211.210.451.527.022.553.30
Other Net -10.011.90-3.770.87-9.54-0.18-3.283.75
Net Income Before Taxes 2628.342478.402941.783166.243922.915266.217099.008052.96
Provisionfor Income Taxes 780.31685.77872.44811.78982.561323.101811.852029.49
Net Income After Taxes 1848.031792.632069.342354.462940.353943.115287.156023.47
Minority Interest -0.27-0.87-0.82-1.35-1.82-0.72-1.24-0.26
Equity In Affiliates 38.6432.0930.4245.7645.8942.1335.5338.79
Net Income Before Extra Items 1886.401823.852098.942398.872984.423984.525321.446062.00
Net Income 1886.401823.852098.942398.872984.423984.525321.446062.00
Income Availableto Com Excl Extra Ord 1886.401823.852098.942398.872984.423984.525321.446062.00
Income Availableto Com Incl Extra Ord 1886.401823.852098.942398.872984.423984.525321.446062.00
Diluted Net Income 1886.401823.852098.942398.872984.423984.525321.446062.00
Diluted Weighted Average Shares 730.99730.99730.99730.99730.98730.98730.98731.24
Diluted EPS Excluding Extra Ord Items 2.582.502.873.284.085.457.288.29
DPS- Common Stock Primary Issue 1.130.931.331.501.802.202.40
Diluted Normalized EPS 2.602.492.873.284.115.547.288.29
period Length 1212121212121212
period Type MonthsMonthsMonthsMonthsMonthsMonthsMonthsMonths

Assets & Liabilities

Balance Sheet

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash 582.86362.56515.12411.83841.74591.52484.74436.74
Short Term Investments 315.7738.392018.306245.784146.169826.178782.036615.71
Cashand Short Term Investments 898.631659.025061.207546.648091.8511032.499495.488503.67
Accounts Receivable- Trade Net 8260.3110998.6911385.8611985.0313350.7713185.5913971.9316982.44
Total Receivables Net 8763.7011612.6411840.0412558.9914152.4814254.3915012.6118125.80
Total Inventory 5936.965328.976632.057005.807476.048584.1910124.5611195.47
Prepaid Expenses 142.85106.52116.95115.46114.3941.4841.7056.63
Other Current Assets Total 132.3030.9463.0766.82212.98150.43183.53175.30
Total Current Assets 15874.4418738.0923713.3127293.7130047.7434062.9834857.8838056.87
Property/ Plant/ Equipment Total- Gross 3419.194124.494556.444995.315484.976054.636897.187651.61
Accumulated Depreciation Total -957.56-1310.01-1673.47-2040.01-2429.43-2809.74-3215.67-3684.52
Property/ Plant/ Equipment Total- Net 2461.632814.482882.972955.303055.543244.893681.513967.09
Intangibles Net 684.90726.00651.77725.93762.20684.00789.48884.69
Long Term Investments 964.521110.411306.021572.09650.05682.27743.01800.82
Note Receivable- Long Term 290.31378.07402.75685.15443.35258.31200.35216.66
Other Long Term Assets Total 544.78581.26532.85678.40532.29594.23559.63611.39
Total Assets 20820.5824348.3129489.6733910.5835491.1739526.6840831.8644537.52
Accounts Payable 1434.052450.133298.903369.303330.383706.313338.773583.40
Accrued Expenses 0.32495.87467.15570.26710.12820.23946.841165.13
Notes Payable/ Short Term Debt 0.000.000.000.000.000.000.000.00
Current Portof LT Debt/ Capital Leases 33.349.471.351.191.922.262.543.03
Other Currentliabilities Total 8981.049910.2513062.1515640.2916523.3617497.9315464.3914508.19
Total Current Liabilities 10448.7512865.7216829.5519581.0420565.7822026.7319752.5419259.75
Long Term Debt 0.000.000.000.000.000.000.000.00
Total Long Term Debt 0.001.831.1751.5159.4260.2558.6962.43
Total Debt 33.3411.302.5252.7061.3462.5161.2365.46
Minority Interest 13.3014.1714.9916.3417.7517.9218.9418.83
Other Liabilities Total 1147.031395.061584.021974.31983.701089.841018.281197.45
Total Liabilities 11609.0814276.7818430.0921624.6521629.5423200.2120857.9720549.21
Common Stock Total 243.66243.66243.66243.66730.98730.98730.98730.98
Retained Earnings( Accumulated Deficit) 9122.4410023.5111099.0812474.6113729.0316251.6119891.8323870.55
Other Equity Total -154.60-195.64-283.16-432.34-598.38-656.12-648.92-613.22
Total Equity 9211.5010071.5311059.5812285.9313861.6316326.4719973.8923988.31
Total Liabilities Shareholders' Equity 20820.5824348.3129489.6733910.5835491.1739526.6840831.8644537.52
Total Common Shares Outstanding 730.99730.99730.99730.99730.98730.98730.98730.98
Tangible Book Valueper Share Common Eq 11.6612.7814.2415.8117.9221.4026.2431.61
period Length 0.000.000.000.000.000.000.000.00
Cash Equivalents 1258.072527.78889.033103.95614.80228.711451.22
Capital Lease Obligations 1.831.1751.5159.4260.2558.6962.43
Deferred Income Tax 0.361.452.895.479.5210.75

Cash Movement

Cash Flow

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Net Income/ Starting Line 2666.982510.492972.203212.003968.805308.347134.538091.75
Depreciation/ Depletion 338.13371.86387.32401.13428.82443.20467.38555.67
Non- Cash Items 73.99-43.5361.97-135.50403.20630.78-652.74-526.50
Changesin Working Capital -1565.22-268.411671.73729.59-3601.56-1722.83-6384.90-6579.55
Cashfrom Operating Activities 1513.882570.415093.224207.221199.264659.49564.271541.37
Capital Expenditures -729.22-746.58-469.25-554.56-590.45-652.53-1011.28-985.36
Other Investing Cash Flow Items Total -166.7297.62-2125.97-4317.103298.10-5271.321650.572715.36
Cashfrom Investing Activities -895.94-648.96-2595.22-4871.662707.65-5923.85639.291730.00
Financing Cash Flow Items -49.41-54.02-43.07-52.62-14.95-7.14-9.68-6.73
Total Cash Dividends Paid -566.24-980.17-1022.74-1023.31-1242.80-1462.09-1680.78-2082.89
Issuance( Retirement)of Debt Net -47.02-26.33-9.92-1.67-4.33-5.78-5.97-7.24
Cashfrom Financing Activities -662.67-1060.52-1075.73-1077.60-1262.08-1475.01-1696.43-2096.86
Net Changein Cash -44.73860.931422.27-1742.042644.83-2739.37-492.871174.51
Cash Interest Paid 12.753.606.375.0514.957.149.686.73
Cash Taxes Paid 771.79574.24533.07804.291067.331418.371674.642020.62
period Length 1212121212121212
period Type MonthsMonthsMonthsMonthsMonthsMonthsMonthsMonths

Ownership

Shareholding Pattern

Promoter

2025-09-302025-12-312026-03-312026-06-30
51.14%51.14%51.14%51.14%

FII

2025-09-302025-12-312026-03-312026-06-30
18.14%18.51%19.51%18.02%

MF

2025-09-302025-12-312026-03-312026-06-30
15.12%14.82%14.28%14.99%

Other

2025-09-302025-12-312026-03-312026-06-30
15.60%15.53%15.07%15.85%