Bharat Electronics Limited
NSE: BELINE263A01024·Capital GoodsNifty 50·www.bel-india.in ↗·Mcap ₹2.90L Cr·Listed 2000
₹393.55▲ ₹1.55  (0.40%)
52W: ₹380 – ₹473 · Vol: 60.8L shares · Close 25 Sept
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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q4 FY18
₹ croreQ1 FY27Q4 FY26Q3 FY26Q2 FY26Q1 FY26Q4 FY25Q3 FY25Q2 FY25Q1 FY25Q4 FY24Q3 FY24Q2 FY24Q1 FY24Q4 FY23Q3 FY23Q2 FY23Q1 FY23Q4 FY22Q3 FY22Q2 FY22Q1 FY22Q4 FY21Q3 FY21Q2 FY21Q1 FY21Q4 FY20Q3 FY20Q2 FY20Q1 FY20Q4 FY19Q4 FY18
Revenue from operations5,54710,2247,1545,7924,4409,1505,7714,6054,2448,5644,1624,0093,5336,4794,1533,9623,1416,3403,7023,6781,6496,9172,3203,1951,6765,8172,2782,7482,12500
Other income17011013915416319518615820422516713714066.258.673.882.263.959.962.445.357.523.527.516.528.633.411.525.800
Total expenses4,3207,4175,1644,2183,3246,4774,2133,3173,4046,3993,1983,1052,9704,7643,4063,2052,7194,8732,9712,9141,6765,0391,9642,6651,6244,4252,0132,2921,85800
EBITDA1,3882,9822,1271,7021,2382,8161,6691,4009482,2871,0731,0146731,8328638685221,578829864701,9814566271461,49435754935500
EBITDA margin25.0%29.2%29.7%29.4%27.9%30.8%28.9%30.4%22.3%26.7%25.8%25.3%19.0%28.3%20.8%21.9%16.6%24.9%22.4%23.5%4.2%28.6%19.7%19.6%8.7%25.7%15.7%20.0%16.7%––
Finance costs1.21.621.71.45.91.31.31.24.10.51.51.12.59.71.814.30.20.50.15.60.40.30.11.90.11.20.300
Depreciation16117313512612113811111110811910710810911410610999.310698.299.497.596.899.896.79410191.791.288.400
Profit before tax1,3962,9172,1281,7281,2792,8671,7441,4451,0432,3901,1321,0417031,7828068315041,53179182717.81,93638055868.51,42029846829200
Tax3527035584503197464423612626042842611744152032161483852062164.758010916220.938185.713386.300
Net profit1,0552,2261,5801,2879692,1271,3121,0937911,7978607905391,3826146243661,15559662524.41,36827939953.81,04722334421100
Net margin19.0%21.8%22.1%22.2%21.8%23.2%22.7%23.7%18.6%21.0%20.7%19.7%15.2%21.3%14.8%15.8%11.7%18.2%16.1%17.0%1.5%19.8%12.0%12.5%3.2%18.0%9.8%12.5%9.9%––
EPS (₹)1.443.042.161.761.332.911.791.501.082.461.171.080.741.900.830.861.504.742.452.560.105.621.141.640.224.300.911.420.860.000.00
Net profit YoY+8.8%+4.7%+20.4%+17.8%+22.5%+18.4%+52.5%+38.4%+46.9%+30.0%+40.2%+26.5%+47.0%+19.6%+2.9%−0.0%+1400.7%−15.6%+114.0%+56.4%−54.7%+30.7%+25.0%+16.0%−74.4%––––––

Annual results

financial years ending March · from the fourth-quarter filings
₹ croreFY26FY25FY24FY23FY22FY21FY20FY19FY18
Revenue from operations27,61023,76920,26817,73415,36814,10912,96812,16410,485
Other income56674267028123212599.473196
Total expenses20,12317,41215,67214,09212,43311,29210,5899,6098,724
EBITDA8,0496,8345,0464,0863,3413,2112,7542,9062,035
EBITDA margin29.2%28.8%24.9%23.0%21.7%22.8%21.2%23.9%19.4%
Finance costs6.79.77.1155.16.43.612.82.2
Depreciation556467443429401387372338272
Profit before tax8,0537,0995,2663,9233,1662,9422,4782,6281,957
Tax2,0291,8121,323983812872686780550
Net profit6,0625,3233,9852,9862,4002,1001,8251,8871,431
Net margin22.0%22.4%19.7%16.8%15.6%14.9%14.1%15.5%13.6%
EPS (₹)8.297.285.454.099.858.627.497.745.83
Net profit YoY+13.9%+33.6%+33.5%+24.4%+14.3%+15.1%−3.3%+31.8%–
EPS is as filed for each period and is not restated for later bonus issues or splits.

Cash flow

annual · ₹ crore
₹ croreFY26FY25FY24FY23FY22
Operating cash flow1,5415874,6591,2674,207
Investing cash flow1,730617−5,9242,691−4,872
Financing cash flow−2,097−1,696−1,475−1,313−1,078
Capital expenditure9851,011653590555
Free cash flow (CFO − capex)556−4254,0076763,653

Net profit trend

annual, ₹ crore
FY21
₹2,100
FY22
₹2,400+14%
FY23
₹2,986+24%
FY24
₹3,985+33%
FY25
₹5,323+34%
FY26
₹6,062+14%

Result filings

as filed with NSE · PDF and XBRL
PeriodBasisFiledDocuments
Q1 FY27Consolidated27 Jul 2026PDF on NSE XBRL
Q1 FY27Standalone27 Jul 2026PDF on NSE XBRL
Q4 FY26Consolidated · audited19 May 2026PDF on NSE XBRL
Q4 FY26Standalone · audited19 May 2026PDF on NSE XBRL
Q3 FY26Consolidated28 Jan 2026PDF on NSE XBRL
Q3 FY26Standalone28 Jan 2026PDF on NSE XBRL
Q2 FY26Consolidated31 Oct 2025PDF on NSE XBRL
Q2 FY26Standalone31 Oct 2025PDF on NSE XBRL
Q1 FY26Consolidated28 Jul 2025PDF on NSE XBRL
Q1 FY26Standalone28 Jul 2025PDF on NSE XBRL

Annual reports

NSE archive
Key ratios
P/E (TTM)5Y avg 37.6×46.8×
P/B5Y avg 9.43×11.99×
ROEFY26, on average equity27.6%
Net margin22.0%
Debt / equity0.00×
Revenue CAGR (3Y)15.9%
Profit CAGR (3Y)26.6%
EPS (TTM)₹8.41
Market cap₹2.88L Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
11.99×
vs 8-point avg 9.43× (+27%)
5.14× low9.43× avg13.69× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹44,538 Cr+9%
Net worth₹23,988 Cr+20%
Total borrowings₹0 Cr
Cash & bank balances₹1,888 Cr+165%
Investments₹625 Cr+7%
Inventories₹10,176 Cr+12%
Trade receivables₹12,876 Cr+41%
Trade payables₹3,583 Cr+7%
Change vs the same date a year earlier.
Shareholding 30 Jun 2026
%Jun 26Mar 26Dec 25Sept 25Jun 25Mar 25Dec 24Sept 24Jun 24Mar 24Dec 23Sept 23
Promoter51.1451.1451.1451.1451.1451.1451.1451.1451.1451.1451.1451.14
FII18.0219.5018.5118.1518.5617.5617.3517.2717.4317.5617.7817.18
DII21.0219.9920.4820.8820.6020.8820.9420.2220.6122.6423.3724.19
of which MF14.9914.2814.8215.1214.60–––––––
Retail8.518.088.558.478.599.339.5010.299.747.526.766.61
Other public1.311.291.321.361.111.091.071.081.081.140.950.88
26,04,298 shareholders · NSE shareholding pattern filings.