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Bharat Dynamics Ltd.
NSE: BDL · Capital Goods
₹1,060.00-1.40%06 Nov 2026
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Instant answers about Bharat Dynamics Ltd. — computed from its filings, no language modelMarket cap₹38,856 cr
Current price₹1,060.00
High / Low₹1,614 / ₹974
P/E74.6
P/B9.16
Book value₹115.7
ROE12.3%
ROCE16.8%
Debt / equity0.00
Dividend yield0.49%
EPS (TTM)₹14.21
Face value₹5
Price & valuation
split & bonus adjusted · pick a metric and rangeAnnual performance
annual · ₹ crore · line = operating margin| FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 4,588 | 3,069 | 3,095 | 1,914 | 2,817 | 2,489 | 2,369 | 3,345 | 2,442 |
| EBITDA | 668 | 622 | 728 | 345 | 726 | 408 | 537 | 472 | 223 |
| Operating margin | 14.6% | 20.3% | 23.5% | 18.0% | 25.8% | 16.4% | 22.6% | 14.1% | 9.1% |
| Interest | 3 | 4 | 5 | 4 | 3 | 5 | 3 | 3 | 3 |
| Depreciation | 63 | 82 | 96 | 95 | 90 | 77 | 67 | 71 | 76 |
| Profit before tax | 774 | 671 | 742 | 341 | 710 | 482 | 828 | 749 | 568 |
| Tax | 246 | 249 | 208 | 83 | 210 | 130 | 216 | 199 | 147 |
| Net profit | 528 | 0 | 535 | 258 | 500 | 352 | 613 | 550 | 420 |
| EPS ₹ | 26.65 | 23.06 | 29.18 | 14.06 | 27.28 | 19.22 | 16.72 | 14.99 | 11.47 |
| Operating cash flow | — | — | — | — | 530 | 2,130 | 412 | 167 | 604 |
| Capex | — | — | — | — | 102 | 108 | 81 | 283 | 217 |
| Dividend paid | — | — | — | — | 145 | 167 | 145 | 217 | 190 |
| Total assets | 6,598 | 5,468 | 5,685 | 5,962 | — | 8,672 | 10,340 | 11,742 | 14,262 |
| Equity | 1,956 | 2,269 | 2,607 | 2,685 | — | 3,212 | 3,637 | 4,009 | 4,241 |
Quarterly performance
last 33 quarters · ₹ crore| JUN '17 | MAR '18 | JUN '18 | MAR '19 | JUN '19 | SEP '19 | DEC '19 | MAR '20 | JUN '20 | SEP '20 | DEC '20 | MAR '21 | JUN '21 | SEP '21 | DEC '21 | MAR '22 | JUN '22 | SEP '22 | DEC '22 | MAR '23 | JUN '23 | SEP '23 | DEC '23 | MAR '24 | JUN '24 | SEP '24 | DEC '24 | MAR '25 | JUN '25 | SEP '25 | DEC '25 | MAR '26 | JUN '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 864 | 2,021 | 548 | 877 | 492 | 659 | 509 | 1,435 | 31 | 277 | 459 | 1,137 | 129 | 504 | 804 | 1,381 | 695 | 535 | 462 | 798 | 298 | 616 | 602 | 854 | 191 | 545 | 832 | 1,777 | 248 | 1,147 | 567 | 480 | 572 |
| Operating profit | 116 | 385 | 124 | 120 | 112 | 158 | 53 | 405 | -119 | 52 | 40 | 344 | -34 | 66 | 290 | 404 | 42 | 94 | 89 | 183 | -33 | 134 | 119 | 316 | -52 | 99 | 127 | 299 | -45 | 188 | 26 | 55 | 83 |
| Operating margin | 13.5% | 19.1% | 22.5% | 13.7% | 22.7% | 23.9% | 10.5% | 28.2% | -377.0% | 18.9% | 8.6% | 30.3% | -26.2% | 13.1% | 36.0% | 29.3% | 6.0% | 17.5% | 19.3% | 23.0% | -11.0% | 21.8% | 19.7% | 37.0% | -27.4% | 18.1% | 15.2% | 16.8% | -18.3% | 16.3% | 4.6% | 11.5% | 14.5% |
| Other income | 42 | 30 | 22 | 57 | 25 | 25 | 33 | 32 | 31 | 11 | 55 | 25 | 28 | 20 | 35 | 29 | 37 | 45 | 36 | 37 | 107 | 78 | 88 | 88 | 80 | 86 | 84 | 100 | 87 | 121 | 97 | 119 | 103 |
| Interest | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 16 | 18 | 16 | 30 | 17 | 21 | 23 | 36 | 17 | 21 | 25 | 31 | 21 | 24 | 25 | 21 | 23 | 21 | 19 | 14 | 17 | 17 | 16 | 16 | 16 | 18 | 18 | 20 | 18 | 19 | 19 | 20 | 20 |
| Profit before tax | 141 | 396 | 128 | 146 | 118 | 161 | 63 | 400 | -106 | 41 | 69 | 338 | -28 | 62 | 299 | 378 | 53 | 117 | 106 | 206 | 57 | 194 | 189 | 388 | 11 | 166 | 193 | 378 | 23 | 288 | 103 | 154 | 166 |
| Tax | 40 | 60 | 47 | 22 | 53 | 55 | 9 | 91 | -28 | 14 | 19 | 77 | -7 | 19 | 85 | 113 | 13 | 41 | 22 | 53 | 15 | 47 | 54 | 99 | 4 | 44 | 46 | 160 | 5 | 72 | 30 | 41 | 47 |
| Net profit | 0 | 337 | 0 | 0 | 0 | 106 | 53 | 310 | -78 | 26 | 49 | 260 | -21 | 43 | 213 | 264 | 40 | 76 | 84 | 153 | 42 | 147 | 135 | 289 | 7 | 123 | 147 | 218 | 18 | 216 | 73 | 113 | 119 |
| EPS ₹ | 4.74 | 18.37 | 4.46 | 6.77 | 3.58 | 5.80 | 2.90 | 16.90 | -4.26 | 1.43 | 2.68 | 14.21 | -1.14 | 2.36 | 11.64 | 14.42 | 2.17 | 4.14 | 4.57 | 8.33 | 2.28 | 8.03 | 7.37 | 7.88 | 0.20 | 3.34 | 4.01 | 7.44 | 0.50 | 0.00 | 1.99 | 3.09 | 3.24 |
| Revenue YoY | — | — | -36.5% | -56.6% | -10.4% | — | — | 63.7% | -93.6% | -58.0% | -9.7% | -20.8% | 308.9% | 82.0% | 75.0% | 21.5% | 440.3% | 6.1% | -42.6% | -42.2% | -57.2% | 15.2% | 30.3% | 7.0% | -35.8% | -11.5% | 38.3% | 108.0% | 29.7% | 110.6% | -31.9% | -73.0% | 130.8% |
| Profit YoY | — | — | — | -100.0% | — | — | — | — | — | -75.3% | -7.5% | -15.9% | — | 64.8% | 333.5% | 1.5% | — | 75.3% | -60.7% | -42.2% | 4.9% | 94.0% | 61.2% | 89.0% | -82.7% | -16.7% | 9.0% | -24.6% | 154.2% | 76.2% | -50.4% | -48.0% | 547.4% |
Returns & margins
trailing-twelve-month, per quarter| DEC '19 | MAR '20 | JUN '20 | SEP '20 | DEC '20 | MAR '21 | JUN '21 | SEP '21 | DEC '21 | MAR '22 | JUN '22 | SEP '22 | DEC '22 | MAR '23 | JUN '23 | SEP '23 | DEC '23 | MAR '24 | JUN '24 | SEP '24 | DEC '24 | MAR '25 | JUN '25 | SEP '25 | DEC '25 | MAR '26 | JUN '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.0% | 18.0% | 15.0% | 11.9% | 11.8% | 9.6% | 11.7% | 12.4% | 18.5% | 18.6% | 20.9% | 19.0% | 14.8% | 11.0% | 11.0% | 12.6% | 14.1% | 16.8% | 15.9% | 14.8% | 15.2% | 12.3% | 12.6% | 14.2% | 12.4% | 9.9% | 12.3% |
| ROCE | 21.7% | 28.6% | 20.0% | 15.4% | 15.6% | 12.8% | 15.7% | 16.5% | 25.1% | 26.6% | 29.7% | 27.2% | 21.0% | 15.1% | 15.2% | 16.8% | 19.2% | 22.9% | 21.6% | 20.3% | 20.4% | 18.8% | 19.0% | 21.0% | 18.9% | 13.5% | 16.8% |
| Net margin | 6.3% | 15.2% | 14.9% | 13.8% | 13.9% | 13.5% | 15.7% | 14.9% | 19.3% | 17.7% | 16.6% | 17.4% | 15.1% | 14.1% | 16.9% | 19.6% | 20.6% | 25.9% | 25.5% | 25.3% | 23.4% | 14.8% | 14.9% | 15.0% | 14.0% | 17.2% | 18.8% |
| EBITDA margin | 17.5% | 23.5% | 18.9% | 17.4% | 17.2% | 16.7% | 20.1% | 18.7% | 25.9% | 25.8% | 23.7% | 24.3% | 20.5% | 16.4% | 15.9% | 17.2% | 17.4% | 22.6% | 22.8% | 22.0% | 20.2% | 14.1% | 14.1% | 14.2% | 12.5% | 9.1% | 12.7% |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest coverage | 100.74 | 160.67 | 123.20 | 95.44 | 98.48 | 87.96 | 116.99 | 124.22 | 190.77 | 207.97 | 172.31 | 186.61 | 145.00 | 107.13 | 149.50 | 174.77 | 204.20 | 268.17 | 225.80 | 221.02 | 226.06 | 227.21 | 267.90 | 255.12 | 231.93 | 168.50 | 214.31 |
| Asset turnover | 0.46 | 0.54 | 0.46 | 0.40 | 0.39 | 0.32 | 0.34 | 0.37 | 0.43 | 0.47 | 0.57 | 0.50 | 0.45 | 0.29 | 0.24 | 0.23 | 0.25 | 0.23 | 0.22 | 0.21 | 0.23 | 0.28 | 0.29 | 0.31 | 0.29 | 0.17 | 0.19 |
Balance sheet
equity vs borrowings over time · ₹ crore| MAR '18‡ | MAR '19‡ | MAR '20‡ | MAR '21‡ | SEP '22 | MAR '23 | SEP '23 | MAR '24 | SEP '24 | MAR '25 | SEP '25 | MAR '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Share capital | 183 | 183 | 183 | 183 | 183 | 183 | 183 | 183 | 183 | 183 | 183 | 183 |
| Other equity / reserves | 1,773 | 2,085 | 2,424 | 2,501 | 2,945 | 3,028 | 3,190 | 3,454 | 3,549 | 3,826 | 4,034 | 4,058 |
| Total equity | 1,956 | 2,269 | 2,607 | 2,685 | 3,128 | 3,212 | 3,373 | 3,637 | 3,732 | 4,009 | 4,217 | 4,241 |
| Borrowings | 0 | 2 | 2 | — | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Current liabilities | 4,232 | 2,919 | 2,315 | 2,521 | 2,469 | 2,206 | 1,866 | 3,006 | 3,050 | 4,360 | 5,074 | 6,346 |
| Non-current liabilities | 410 | 281 | 764 | 756 | 1,228 | 3,255 | 4,058 | 3,697 | 3,747 | 3,373 | 3,777 | 3,675 |
| Total assets | 6,598 | 5,468 | 5,685 | 5,962 | 6,825 | 8,672 | 9,297 | 10,340 | 10,530 | 11,742 | 13,068 | 14,262 |
| Property, plant & equipment | 720 | 812 | 753 | 743 | 686 | 646 | 667 | 672 | 657 | 667 | 653 | 700 |
| Capital work-in-progress | 130 | 47 | 42 | 22 | 79 | 74 | 55 | 73 | 97 | 117 | 171 | 174 |
| Investments | 239 | 4 | 4 | 5 | 0 | 0 | 0 | 0 | 4 | 4 | 4 | 4 |
| Inventories | 1,926 | 1,665 | 857 | 1,397 | 1,714 | 1,822 | 1,738 | 1,982 | 2,257 | 2,645 | 3,203 | 4,626 |
| Receivables | 770 | 526 | 338 | 323 | 220 | 185 | 559 | 310 | 696 | 826 | 1,192 | 423 |
| Cash & equivalents | 30 | 17 | 297 | 457 | 269 | 1,053 | 293 | 594 | 194 | 134 | 582 | 863 |
Cash flow
annual · ₹ crore · line = free cash flow| FY17‡ | FY18‡ | FY19‡ | FY20‡ | FY21‡ | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | -420 | -342 | 84 | 504 | 1,068 | 530 | 2,130 | 412 | 167 | 604 |
| Cash from investing | 3 | 1,047 | 170 | -33 | -734 | -573 | -1,171 | -722 | -407 | 320 |
| Cash from financing | -166 | -769 | -268 | -191 | -173 | -149 | -171 | -148 | -220 | -194 |
| Capex | — | — | — | 57 | 57 | 102 | 108 | 81 | 283 | 217 |
| Free cash flow | — | — | — | 447 | 1,011 | 428 | 2,022 | 331 | -115 | 387 |
| Dividends paid | 122 | 219 | 265 | 187 | 169 | 145 | 167 | 145 | 217 | 190 |
Where the assets sit
Mar '26 · ₹ croreFixed assets (PPE)₹700 cr5%
CWIP₹174 cr1%
Investments₹4 cr0%
Inventories₹4,626 cr32%
Receivables₹423 cr3%
Cash & equivalents₹863 cr6%
Other assets₹7,471 cr52%
Peer comparison
largest in Capital Goods · this company in bold| Company | Market cap ₹cr | Price | P/E | P/B | ROE |
|---|---|---|---|---|---|
| Hindustan Aeronautics Ltd. | 3,33,052 | 4,980.00 | 35.7 | 8.12 | 22.7% |
| Bharat Electronics Ltd. | 2,89,468 | 396.00 | 45.2 | 11.02 | 24.4% |
| Tata Motors Ltd. | 1,56,797 | 425.50 | 24.8 | 10.26 | 41.3% |
| Bharat Heavy Electricals Ltd. | 1,45,828 | 418.80 | 50.7 | 5.45 | 10.8% |
| ABB India Ltd. | 1,43,541 | 6,774.00 | 55.7 | 15.37 | 27.6% |
| Siemens Ltd. | 1,26,736 | 3,560.00 | 28.2 | 8.02 | 28.4% |
| Hitachi Energy India Ltd. | 1,23,988 | 27,800.00 | 107.8 | 23.95 | 22.2% |
| CG Power and Industrial Solutions Ltd. | 1,21,786 | 773.00 | 89.1 | 13.94 | 15.6% |
| Polycab India Ltd. | 1,18,610 | 7,871.00 | 37.6 | 9.06 | 24.1% |
| Cummins India Ltd. | 1,12,233 | 4,048.80 | 49.8 | 13.52 | 27.1% |
| Bharat Dynamics Ltd. | 38,856 | 1,060.00 | 74.6 | 9.16 | 12.3% |
StoxGud checklist: Neutral setup · 4/10
- Price above 50-day average
- Price above 200-day average
- 50-day average above 200-day (uptrend)
- RSI in healthy 40–70 zone
- Positive 1-year return
- Return on equity above 15%
- Debt to equity below 1
- Revenue growing year on year
- Net profit margin above 10%
- P/E below industry median
A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.
Returns & technicals
1 month-2.3%
6 months-27.7%
1 year-30.5%
3Y CAGR+26.8%
5Y CAGR+37.7%
10Y CAGR—
50-day avg₹1,133.41
200-day avg₹1,270.91
RSI (14)41
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FAQs
What is the share price of Bharat Dynamics Ltd.?
Bharat Dynamics Ltd. (BDL) closed at ₹1,060.00 on NSE on 06 Nov 2026.
What is the market cap of Bharat Dynamics Ltd.?
₹38,856 crore at the latest close.
What is the P/E ratio of Bharat Dynamics Ltd.?
74.6, on trailing-twelve-month earnings from its filings.
How fast is Bharat Dynamics Ltd. growing?
Bharat Dynamics Ltd.: revenue has compounded at -0.6% a year over three years; net profit at 6.1% a year. Latest-quarter revenue is up 130.8% year on year, profit up 547.4%.
How profitable is Bharat Dynamics Ltd.?
On a trailing-twelve-month basis return on equity is 12.3%, return on capital employed 16.8%, operating margin 12.7%, net margin 18.8%.
How much debt does Bharat Dynamics Ltd. have?
Bharat Dynamics Ltd. is debt-free: debt to equity is 0.00 with borrowings of ₹0 cr against cash of ₹863 cr (balance sheet of 2026-03-31). Operating profit covers interest 214.3 times.
Financials parsed from Bharat Dynamics Ltd.'s own XBRL filings to NSE (standalone), ₹ crore unless marked. Quarterly from JUN '17, annual from FY18, balance sheet from Mar '18. * = derived (full year or half year minus earlier quarters). ‡ = balance sheet / cash flow read from the company's published annual report (same basis), for years before the NSE filings carry them; each one checked to add up. Information only, not investment advice.
Bharat Dynamics Ltd. · advanced chart