Bharat Electronics Ltd.

NSE: BEL · Capital Goods

₹396.00+0.23%06 Nov 2026

Ask the data

Instant answers about Bharat Electronics Ltd. — computed from its filings, no language model

Market cap₹2,89,468 cr

Current price₹396.00

High / Low₹468 / ₹362

P/E45.2

P/B11.02

Book value₹35.9

ROE24.4%

ROCE32.4%

Debt / equity0.00

Dividend yield0.72%

EPS (TTM)₹8.75

Face value₹1

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 7 periods

	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	12,968	14,109	15,368	17,734	20,268	23,769	27,610
EBITDA	2,754	3,211	3,341	4,086	5,046	6,834	8,049
Operating margin	21.2%	22.8%	21.7%	23.0%	24.9%	28.8%	29.2%
Interest	4	6	5	15	7	10	7
Depreciation	372	387	401	429	443	467	556
Profit before tax	2,478	2,942	3,166	3,923	5,266	7,099	8,053
Tax	686	872	812	983	1,323	1,812	2,029
Net profit	1,824	2,099	2,399	2,984	3,985	5,321	6,062
EPS ₹	7.49	8.62	9.85	4.09	5.45	7.28	8.29
Operating cash flow	—	—	4,207	1,267	4,659	587	1,541
Capex	—	—	555	590	653	1,011	985
Dividend paid	—	—	1,023	1,243	1,462	1,681	2,083
Total assets	24,348	29,490	33,911	35,491	39,527	40,832	44,538
Equity	10,072	11,060	12,286	13,862	16,326	19,974	23,988

Quarterly performance

last 30 quarters · ₹ crore

showing latest 8 of 30 periods

	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	SEP '26
Revenue	2,124	2,748	2,278	5,817	1,676	3,195	2,320	6,917	1,649	3,678	3,702	6,340	3,141	3,962	4,153	6,479	3,533	4,009	4,162	8,564	4,244	4,605	5,771	9,150	4,440	5,792	7,154	10,224	5,547	7,328
Operating profit	355	549	357	1,494	146	627	456	1,981	70	864	829	1,578	522	868	863	1,832	673	1,014	1,072	2,287	948	1,400	1,669	2,816	1,238	1,702	2,127	2,982	1,388	2,041
Operating margin	16.7%	20.0%	15.7%	25.7%	8.7%	19.6%	19.7%	28.6%	4.2%	23.5%	22.4%	24.9%	16.6%	21.9%	20.8%	28.3%	19.0%	25.3%	25.8%	26.7%	22.3%	30.4%	28.9%	30.8%	27.9%	29.4%	29.7%	29.2%	25.0%	27.9%
Other income	26	12	33	29	16	27	24	58	45	62	60	64	82	74	59	66	140	137	167	225	204	158	186	195	163	154	139	110	170	187
Interest	0	1	0	2	0	0	0	6	0	0	0	4	1	2	10	2	1	2	1	4	1	1	1	6	1	2	2	2	1	3
Depreciation	88	91	92	101	94	97	100	97	97	99	98	106	99	109	106	114	109	108	107	119	108	111	111	138	121	126	135	173	161	171
Profit before tax	292	468	298	1,420	68	558	380	1,936	18	826	791	1,531	504	831	806	1,782	703	1,041	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	86	133	86	381	21	162	109	580	5	216	206	385	148	216	203	415	174	261	284	604	262	361	442	746	319	450	558	703	352	523
Net profit	211	344	223	1,047	54	399	278	1,368	24	624	596	1,154	366	624	613	1,382	539	789	860	1,797	791	1,092	1,311	2,127	970	1,288	1,579	2,225	1,054	1,540
EPS ₹	0.86	1.42	0.91	4.30	0.22	1.64	1.14	5.62	0.10	2.56	2.45	4.74	1.50	0.86	0.83	1.90	0.74	1.08	1.17	2.46	1.08	1.50	1.79	2.91	1.33	1.76	2.16	3.04	1.44	2.11
Revenue YoY	—	—	—	—	-21.1%	16.3%	1.9%	18.9%	-1.6%	15.1%	59.5%	-8.4%	90.5%	7.7%	12.2%	2.2%	12.5%	1.2%	0.2%	32.2%	20.1%	14.9%	38.6%	6.8%	4.6%	25.8%	24.0%	11.7%	24.9%	26.5%
Profit YoY	—	—	—	—	-74.5%	16.0%	24.9%	30.7%	-54.6%	56.5%	114.3%	-15.6%	1398.0%	-0.1%	2.9%	19.7%	47.3%	26.6%	40.2%	30.0%	46.9%	38.4%	52.5%	18.4%	22.6%	17.9%	20.5%	4.6%	8.7%	19.6%

Earlier results (standalone, Sep '07 – Mar '19)

₹ crore · from BSE, before the NSE XBRL filings begin

Bharat Electronics Ltd. reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

showing latest 8 of 11 periods

	FY09†	FY10†	FY11†	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†	FY18†	FY19†
Revenue	4,606	5,374	5,635	5,767	6,104	6,276	6,843	7,295	9,084	10,401	12,085
Operating profit	1,133	1,003	1,003	564	636	892	1,144	1,461	1,754	2,000	2,862
Operating margin	24.6%	18.7%	17.8%	9.8%	10.4%	14.2%	16.7%	20.0%	19.3%	19.2%	23.7%
Other income	172	175	243	575	610	428	478	532	479	200	170
Interest	11	0	0	0	1	3	—	—	—	1	—
Depreciation	104	115	122	118	131	142	154	169	192	251	316
Profit before tax	1,190	1,063	1,124	1,021	1,115	1,175	1,467	1,820	2,029	1,948	2,703
Tax	382	330	320	265	225	243	299	462	482	549	776
Net profit	808	734	804	756	890	932	1,167	1,358	1,548	1,399	1,927

Quarters

showing latest 8 of 47 periods

	SEP '07†	DEC '07†	MAR '08†	JUN '08†	SEP '08†	DEC '08†	MAR '09†	JUN '09†	SEP '09†	DEC '09†	MAR '10†	JUN '10†	SEP '10†	DEC '10†	MAR '11†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†	MAR '18†	JUN '18†	SEP '18†	DEC '18†	MAR '19†
Revenue	709	662	2,294	384	788	681	2,753	911	1,308	1,240	1,914	924	978	1,373	2,360	940	1,082	1,447	2,297	797	1,064	1,465	2,778	898	1,045	1,201	3,131	1,012	1,294	1,608	2,928	1,095	1,468	1,517	3,215	871	1,795	2,191	4,227	1,803	2,476	2,513	3,608	2,102	3,381	2,716	3,885
Operating profit	153	127	699	-33	170	171	825	92	329	309	274	92	107	223	581	51	62	129	322	-106	-10	160	593	-56	2	178	768	-46	119	278	793	-5	175	293	999	-47	338	483	980	163	595	445	796	310	854	768	929
Operating margin	21.6%	19.2%	30.5%	-8.5%	21.5%	25.1%	30.0%	10.1%	25.2%	24.9%	14.3%	9.9%	11.0%	16.2%	24.6%	5.4%	5.7%	8.9%	14.0%	-13.3%	-1.0%	10.9%	21.3%	-6.2%	0.2%	14.8%	24.5%	-4.5%	9.2%	17.3%	27.1%	-0.5%	12.0%	19.3%	31.1%	-5.4%	18.9%	22.0%	23.2%	9.1%	24.0%	17.7%	22.1%	14.8%	25.3%	28.3%	23.9%
Other income	50	65	52	61	46	36	30	44	45	44	42	51	68	46	78	145	141	142	147	163	144	130	173	112	109	102	105	115	111	114	139	126	138	135	134	139	171	78	91	72	51	49	28	9	14	18	129
Interest	0	0	0	0	7	0	4	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1	2	—	0	0	1	—	0	0	4	—	0	11	1	0	0	0	1	0	—	—	12
Depreciation	22	23	27	24	26	27	28	28	28	28	30	30	30	30	33	29	29	29	30	31	31	32	37	34	34	34	40	36	38	37	43	40	40	41	47	43	45	45	57	56	59	59	77	69	74	80	93
Profit before tax	181	168	745	5	183	179	823	107	346	324	286	113	145	239	626	167	174	241	439	26	103	257	728	22	77	244	831	33	192	354	887	80	272	386	1,082	49	464	504	1,012	179	587	435	747	250	794	706	953
Tax	58	55	240	2	59	56	264	35	108	101	86	32	41	69	178	44	49	67	105	7	23	60	135	5	17	53	168	8	45	82	165	19	66	91	287	12	118	131	221	54	175	132	188	70	223	198	284
Net profit	123	113	505	3	124	123	559	73	237	224	200	81	104	171	448	123	125	175	334	19	80	198	593	17	59	192	663	26	147	272	723	61	207	296	794	36	346	374	792	125	412	303	559	180	571	508	669
EPS ₹	15.35	14.12	63.10	0.32	15.47	15.35	69.93	9.09	29.67	27.98	24.97	10.18	13.01	21.32	56.03	15.35	15.63	21.83	41.73	2.42	10.03	24.70	74.09	2.15	7.43	23.97	82.91	3.20	18.37	33.98	90.36	7.59	8.61	12.32	33.10	1.50	14.43	16.72	3.39	0.56	1.85	1.23	2.28	0.74	2.34	2.09	2.74
Revenue YoY	—	—	—	—	11.1%	2.8%	20.0%	137.2%	66.1%	82.2%	-30.5%	1.5%	-25.3%	10.7%	23.3%	1.7%	10.7%	5.4%	-2.7%	-15.2%	-1.7%	1.2%	20.9%	12.7%	-1.8%	-18.0%	12.7%	12.7%	23.8%	33.9%	-6.5%	8.2%	13.4%	-5.7%	9.8%	-20.4%	22.3%	44.4%	31.5%	106.9%	38.0%	14.7%	-14.6%	16.6%	36.6%	8.1%	7.7%
Profit YoY	—	—	—	—	0.7%	8.7%	10.8%	2785.3%	91.8%	82.3%	-64.3%	12.0%	-56.2%	-23.8%	124.4%	50.8%	20.1%	2.4%	-25.5%	-84.3%	-35.8%	13.1%	77.5%	-11.1%	-25.9%	-3.0%	11.9%	49.1%	147.2%	41.8%	9.0%	137.0%	40.7%	8.8%	9.9%	-40.5%	67.5%	26.3%	-0.3%	247.2%	19.1%	-18.9%	-29.4%	43.4%	38.5%	67.6%	19.7%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 27 periods

	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	SEP '26
ROE	18.1%	16.6%	17.1%	17.6%	19.0%	18.7%	20.8%	23.6%	19.5%	22.3%	21.2%	21.3%	21.5%	22.8%	22.4%	24.1%	24.4%	26.0%	25.7%	28.3%	26.6%	27.5%	26.4%	27.7%	25.3%	25.6%	24.4%
ROCE	24.6%	22.4%	23.3%	24.1%	26.7%	26.2%	28.6%	32.3%	25.8%	29.8%	28.3%	28.5%	28.4%	29.8%	29.3%	31.5%	32.3%	34.4%	34.1%	37.5%	35.6%	36.8%	35.4%	37.2%	33.6%	34.1%	32.4%
Net margin	14.1%	13.3%	13.3%	13.7%	14.9%	14.7%	15.8%	16.4%	15.6%	16.3%	16.0%	15.7%	16.8%	17.4%	18.3%	19.6%	19.7%	20.2%	21.0%	21.5%	22.4%	23.0%	22.6%	22.5%	22.0%	21.4%	21.2%
EBITDA margin	21.2%	20.3%	20.2%	20.9%	22.8%	22.3%	23.1%	23.5%	21.7%	22.5%	22.2%	21.8%	23.0%	23.4%	24.1%	25.2%	24.9%	25.4%	26.5%	27.2%	28.8%	29.7%	29.5%	29.7%	29.2%	28.6%	28.2%
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	0.00	0.00	0.00	0.00	0.00	0.00
Interest coverage	689.44	674.02	969.85	899.48	462.82	450.62	478.31	558.98	627.98	615.94	508.93	220.38	263.40	275.76	294.50	840.23	738.56	774.30	852.29	842.40	734.37	738.97	742.79	729.86	1197.58	1267.64	1150.66
Asset turnover	0.53	0.51	0.53	0.53	0.48	0.48	0.49	0.54	0.45	0.50	0.51	0.53	0.50	0.51	0.50	0.50	0.51	0.53	0.54	0.58	0.58	0.59	0.59	0.62	0.62	0.64	0.66

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 16 periods

	MAR '16‡	MAR '17‡	MAR '18‡	MAR '19‡	MAR '20‡	MAR '21‡	MAR '22‡	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	MAR '25	SEP '25	MAR '26	SEP '26
Share capital	240	223	244	244	244	244	244	731	731	731	731	731	731	731	731	731
Other equity / reserves	9,006	7,512	7,772	8,968	9,828	10,816	12,042	12,200	13,131	14,085	15,595	16,929	19,243	20,836	23,257	25,528
Total equity	9,246	7,736	8,016	9,212	10,072	11,060	12,286	12,931	13,862	14,816	16,326	17,660	19,974	21,567	23,988	26,259
Borrowings	28	30	47	0	0	0	0	0	0	0	0	0	0	0	0	0
Current liabilities	—	—	—	—	—	—	—	18,409	20,566	20,358	22,027	21,016	19,753	20,198	19,260	17,928
Non-current liabilities	—	—	—	—	—	—	—	2,121	1,046	1,075	1,156	1,112	1,086	1,143	1,271	1,343
Total assets	18,604	17,596	18,961	20,821	24,348	29,490	33,911	33,478	35,491	36,267	39,527	39,806	40,832	42,925	44,538	45,548
Property, plant & equipment	1,059	1,341	1,690	2,139	2,568	2,486	2,509	2,591	2,694	2,665	2,788	2,777	3,205	3,255	3,482	3,682
Capital work-in-progress	222	414	444	323	247	397	446	368	361	433	456	668	477	564	486	481
Investments	242	491	937	964	1,110	1,306	1,572	1,559	650	651	682	728	743	779	800	842
Inventories	45	49	188	41	53	39	27	6,536	6,448	6,732	7,447	9,362	9,119	10,211	10,176	10,592
Receivables	3,722	4,368	5,014	5,374	6,724	6,562	6,108	6,360	7,033	7,336	7,392	8,227	9,116	10,591	12,876	12,036
Cash & equivalents	—	—	—	—	—	—	—	1,089	3,946	1,443	1,206	2,002	713	741	1,888	928

Cash flow

annual · ₹ crore · line = free cash flow

showing latest 5 of 11 periods

	FY16‡	FY17‡	FY18‡	FY19‡	FY20‡	FY21‡	FY22	FY23	FY24	FY25	FY26
Cash from operations	2,260	-61	-687	1,514	2,570	5,093	4,207	1,267	4,659	587	1,541
Cash from investing	-1,470	3,115	-6	-896	-649	-2,595	-4,872	2,691	-5,924	617	1,730
Cash from financing	-318	-2,857	-1,202	-663	-1,061	-1,076	-1,078	-1,313	-1,475	-1,696	-2,097
Capex	659	794	807	1,491	1,509	938	555	590	653	1,011	985
Free cash flow	1,601	-855	-1,494	23	1,062	4,155	3,653	676	4,007	-425	556
Dividends paid	—	—	—	—	—	—	1,023	1,243	1,462	1,681	2,083

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹3,682 cr8%

CWIP

₹481 cr1%

Investments

₹842 cr2%

Inventories

₹10,592 cr23%

Receivables

₹12,036 cr26%

Cash & equivalents

₹928 cr2%

Other assets

₹16,986 cr37%

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%

StoxGud checklist: Bullish setup · 7/10

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+4.7%

6 months-9.9%

1 year-2.8%

3Y CAGR+42.2%

5Y CAGR+41.2%

10Y CAGR+26.0%

50-day avg₹388.39

200-day avg₹414.87

RSI (14)65

Compare Bharat Electronics Ltd. with

Hindustan Aeronautics vs Bharat Electronics Bharat Electronics vs Tata Motors Bharat Electronics vs Bharat Heavy Electricals Bharat Electronics vs ABB India

FAQs

What is the share price of Bharat Electronics Ltd.?

Bharat Electronics Ltd. (BEL) closed at ₹396.00 on NSE on 06 Nov 2026.

What is the market cap of Bharat Electronics Ltd.?

₹2,89,468 crore at the latest close.

What is the P/E ratio of Bharat Electronics Ltd.?

45.2, on trailing-twelve-month earnings from its filings.

How fast is Bharat Electronics Ltd. growing?

Bharat Electronics Ltd.: revenue has compounded at 15.9% a year over three years; net profit at 26.6% a year. Latest-quarter revenue is up 26.5% year on year, profit up 19.6%.

How profitable is Bharat Electronics Ltd.?

On a trailing-twelve-month basis return on equity is 24.4%, return on capital employed 32.4%, operating margin 28.2%, net margin 21.2%.

How much debt does Bharat Electronics Ltd. have?

Bharat Electronics Ltd. is debt-free: debt to equity is 0.00 with borrowings of ₹0 cr against cash of ₹928 cr (balance sheet of 2026-09-30). Operating profit covers interest 1,150.7 times.

Financials parsed from Bharat Electronics Ltd.'s own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from JUN '19, annual from FY20, balance sheet from Mar '16. * = 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.