Bharat Electronics share price
NSE: BELBSE: 500049Aerospace & DefenseLarge Cap
Share price at the NSE close on 27 Oct 2026. Previous close ₹363.00.
27 Oct: open ₹366.05, high ₹374.40, low ₹365.30
- Next results date: the board meets on 30 Oct 2026 to consider: financial results. The notice · Results calendar
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹2,68,963 Cr25th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 43.76
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 11.21
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.68%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 28.0%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 31.7%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.00
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 1,35,10,73741.3% delivered
About Bharat Electronics
Bharat Electronics Limited designs, develops and makes electronic equipment and systems for India's armed forces.12 Its customers also include paramilitary forces, the Coast Guard, government agencies, public sector companies, private firms, equipment makers and foreign governments.2 It is a public sector enterprise under the Ministry of Defence's Department of Defence Production, based in Bengaluru.1
Its defence products include electronic warfare and avionics systems, communication systems, radar and fire control systems, weapon systems, C4I systems (for command, control, communications, computers and intelligence), anti-submarine warfare systems, tank and gun upgrades, electro-optics, and arms and ammunition.3 Outside defence it offers network and cyber security, rail and metro systems, civil aviation radars, space electronics, anti-drone systems, homeland security, medical electronics and software.3 It has 9 manufacturing units, at Bengaluru, Ghaziabad, Pune, Machilipatnam, Panchkula, Chennai, Kotdwar, Hyderabad and Navi Mumbai, and overseas offices in New York and ASEAN countries.45
It was incorporated in 1954.6 It is a Navratna company, a status for large public sector companies that gives their boards more freedom to invest, and the Government of India appoints all its directors.78 It owns BEL Optronic Devices Limited outright and 74% of BEL-THALES Systems Limited, and holds 26% of GE BE Private Limited and 40% of BEL IAI AeroSystems Private Limited.9 BEL Optronic Devices makes image intensifier tubes, used in night vision devices; BEL-THALES Systems designs and supplies defence and civilian radars; and BEL IAI AeroSystems, a joint venture with Israel Aerospace Industries, supports MRSAM (medium-range surface-to-air missile) systems after their warranty ends.1011
Bharat Electronics key points
Results
- On a standalone basis, turnover in the year to Mar 2026 was ₹26,680 crore, which the company describes as its highest, against ₹23,024 crore a year earlier.12
- Standalone EBITDA (earnings before interest, tax, depreciation and amortisation) rose to ₹8,015 crore in the year to Mar 2026, from ₹6,768 crore a year earlier.13
- Standalone profit after tax was ₹6,048 crore in the year to Mar 2026, up 14.38% from ₹5,288 crore a year earlier.14
Revenue mix
- Share of standalone turnover by customer type15Exports were ₹1,331 crore in the year to Mar 2026.
Item year to Mar 2026 Defence 88.13% Non-defence 6.20% Exports 4.99% Others 0.68% - Around 94% of standalone turnover in the year to Mar 2026 came from government and government-related entities, against 96% a year earlier.16
Where revenue comes from
Plants and capacity
- The company runs 30 strategic business units (its product divisions).18
- Facilities set up in the year to Mar 2026 include a night vision products factory at Nimmaluru, Andhra Pradesh, an electronic warfare land systems facility at Ibrahimpatnam, Telangana, and an artificial intelligence centre of excellence in Pune.19
- All of its manufacturing ran on renewable energy in the year to Mar 2026.20
Order book
- The order book (orders received but not yet delivered) was ₹73,882 crore on 1 April 2026, including export orders of ₹4,550 crore.2122
- Orders received in the year to Mar 2026 totalled ₹30,045 crore: ₹27,898 crore for defence and ₹2,147 crore for non-defence business.2324
- On its earnings call of 27 Jul 2026, the company said the order book is split roughly 30% each across the Army, Navy and Air Force, and that fuzes (devices that set off ammunition) are its largest item.2526
- Large orders in the book include air defence radars, avionics for the Light Combat Aircraft, mountain radars, an air defence weapon system, an electronic suite for the BMP II armoured vehicle upgrade and electronic warfare suites for helicopters.27
Research and development
- R&D spending was ₹2,048 crore in the year to Mar 2026, 7.68% of standalone turnover.28
- Research runs in 3 tiers: 2 Central Research Laboratories in Bengaluru and Ghaziabad, a product development centre with 3 centres of excellence in Bengaluru, and 30 engineering groups in the business units, with an R&D team of 3,295.2930
- BEL was granted 51 patents in the year to Mar 2026, taking its granted patents to 344.31
What the company expects
- On its earnings call of 27 Jul 2026, the company said it expects an order this financial year for HAMMER, a weapon system it has agreed to make in India in a joint venture with Safran Electronics and Defence of France.3233
- On its earnings call of 27 Jul 2026, the company said it aims to stop importing modules and sub-modules within 5 years, components such as semiconductors aside.34
- On its earnings call of 27 Jul 2026, the company said its aim is for exports to reach 10% of revenue.35
Recent events
- On 21 Oct 2026, the company said it had received further orders worth ₹1,011 crore since its previous disclosure, including low-level lightweight radars, communication equipment, sonar and jammers.36
- In its exchange filing of 30 Sep 2026, the company said CARE Ratings had assigned it an ESG rating (a score of environmental, social and governance practices) of 77.7.37
- In its exchange filing of 5 May 2026, the company said it had signed a ₹1,251 crore contract, excluding taxes, with the Ministry of Defence to supply the Indian Army with a ground-based mobile electronic intelligence system that detects and locates radars.38
- On 31 Mar 2026, the company said it had received further orders worth ₹6,795 crore, including mountain radars from the Ministry of Defence, avionics for the Light Combat Aircraft from HAL and an export order for communication equipment.39
Last updated
All 39 sources, each with its page
- 1. Annual report, 5 Aug 2026, page 158
- 2. Annual report, 5 Aug 2026, page 92
- 3. Annual report, 5 Aug 2026, page 32
- 4. Annual report, 5 Aug 2026, page 40
- 5. Annual report, 5 Aug 2026, page 33
- 6. Annual report, 5 Aug 2026, page 3
- 7. Exchange filing, 21 Oct 2026, page 2
- 8. Annual report, 5 Aug 2026, page 69
- 9. Annual report, 5 Aug 2026, page 201
- 10. Annual report, 5 Aug 2026, page 204
- 11. Annual report, 5 Aug 2026, page 77
- 12. Annual report, 5 Aug 2026, page 46
- 13. Annual report, 5 Aug 2026, page 46
- 14. Annual report, 5 Aug 2026, page 34
- 15. Annual report, 5 Aug 2026, page 32
- 16. Annual report, 5 Aug 2026, page 154
- 17. Annual report, 5 Aug 2026, page 62
- 18. Annual report, 5 Aug 2026, page 48
- 19. Annual report, 5 Aug 2026, page 64
- 20. Annual report, 5 Aug 2026, page 33
- 21. Annual report, 5 Aug 2026, page 46
- 22. Annual report, 5 Aug 2026, page 45
- 23. Annual report, 5 Aug 2026, page 35
- 24. Annual report, 5 Aug 2026, page 45
- 25. Earnings call, 27 Jul 2026, page 6
- 26. Earnings call, 27 Jul 2026, page 11
- 27. Annual report, 5 Aug 2026, page 63
- 28. Annual report, 5 Aug 2026, page 63
- 29. Annual report, 5 Aug 2026, page 40
- 30. Annual report, 5 Aug 2026, page 63
- 31. Annual report, 5 Aug 2026, page 35
- 32. Earnings call, 27 Jul 2026, page 11
- 33. Annual report, 5 Aug 2026, page 77
- 34. Earnings call, 27 Jul 2026, page 13
- 35. Earnings call, 27 Jul 2026, page 20
- 36. Exchange filing, 21 Oct 2026, page 2
- 37. Exchange filing, 30 Sep 2026, page 1
- 38. Exchange filing, 5 May 2026, page 2
- 39. Exchange filing, 31 Mar 2026, page 2
Results
Consolidated; ₹ crore.Bharat Electronics quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +19.8%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +11.7%
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹5,547 Crdown 45.75%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹1,055 Crdown 52.63%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 19.0%
Revenue by quarter
Net profit by quarter, a loss in red
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,605 | 5,771 | 9,150 | 4,440 | 5,792 | 7,154 | 10,224 | 5,547 |
| Net profit | 1,093 | 1,312 | 2,127 | 969 | 1,287 | 1,580 | 2,226 | 1,055 |
| Net margin | 23.7% | 22.7% | 23.2% | 21.8% | 22.2% | 22.1% | 21.8% | 19.0% |
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹27,610 Crup 16.16%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹6,062 Crup 13.89%
- Net margin
- 22.0%
Revenue by year
Net profit by year, a loss in red
The years either side of a change of basis do not compare. From the year to Mar 2018, GST replaced excise duty on 1 Jul 2017, and revenue before that day includes the duty.
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 9,206what Revenue, Mar 2017, includes. This period's revenue includes excise duty of ₹552 crore, a tax on the goods the company makes that it collects and pays to the government. | 10,485what Revenue, Mar 2018, includes. This period's revenue includes excise duty of ₹84 crore, a tax on the goods the company makes that it collects and pays to the government. | 12,164 | 12,968 | 14,109 | 15,368 | 17,734 | 20,268 | 23,769 | 27,610 |
| Net profit | 1,523 | 1,431 | 1,887 | 1,825 | 2,100 | 2,400 | 2,986 | 3,985 | 5,323 | 6,062 |
| Net margin | 16.5% | 13.6% | 15.5% | 14.1% | 14.9% | 15.6% | 16.8% | 19.7% | 22.4% | 22.0% |
Valuation
Today, against the company's own history. Its history crosses a change of basis in the accounts in the year to Mar 2018: days before it are of the company before the change.Bharat Electronics PE ratio and valuation
At or below today's level on 77% of 2,478 trading days over the last 10 years.
At or below today's level on 70% of 1,982 trading days since Oct 2018.
At or below today's level on 15% of 2,478 trading days over the last 10 years.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +33.6% | +13.9% | +16.8% | 0.6% |
| 3 years | +61.0% | +26.6% | +26.5% | 0.8% |
| 5 years | +58.5% | +23.6% | +27.2% | 1.3% |
Mutual fund holdings
481 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 200 of the 259 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 5 more funds filed their first portfolio on record, holding it.All 481 funds holding Bharat Electronics
- Bought againBought again. Funds that held it at the month's end, had not held it the month before, and held it in an earlier month.
- 4
- AddedAdded. Funds that held more shares than at the end of the month before.
- 148
- CutCut. Funds that held fewer shares than at the end of the month before.
- 111
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 213
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 6
| Fund | |||
|---|---|---|---|
| 9,69,41,098 | 20.19% | ₹3,764.2 Cr | |
| 7,30,00,000 | 5.34% | ₹2,834.6 Cr | |
| 6,94,62,874 | 1.33% | ₹2,697.2 Cr | |
| 4,81,29,058 | 1.62% | ₹1,876.3 Cr | |
| 4,40,00,130 | 14.87% | ₹1,708.5 Cr | |
| 3,35,87,745 | 1.96% | ₹1,304.2 Cr | |
| 2,80,00,000 | 3.56% | ₹1,087.2 Cr | |
| 2,79,42,349 | 19.97% | ₹1,085.0 Cr | |
| 2,38,22,053 | 1.33% | ₹925.0 Cr | |
| 2,26,78,871 | 1.62% | ₹884.1 Cr |
Promoter and insider buying and selling
Trades made since 28 Oct 2025.Bharat Electronics insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Others: no market trade · 3 pledge filings of unclear kind
Bharat Electronics competitors and peers
Aerospace & Defense, 35 listed companies, priced on 27 Oct 2026. The table lists the 8 companies closest to Bharat Electronics in market cap.Capital goods stocks
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| 3,24,690 | 34.83 | 7.91 | +7.4% | +12.2% | 24.5% | 20.8% | 0.93% | |
| 36,876 | 70.81 | 8.70 | −18.7% | −7.1% | 12.6% | 6.4% | 0.49% | |
| 23,062 | 86.07 | 13.28 | +33.8% | +24.9% | 16.5% | 20.2% | 0.24% | |
| 22,119 | 27.63 | 8.42 | +39.6% | +42.9% | 34.0% | 29.8% | 1.02% | |
| 16,359 | – | – | – | – | – | 13.0% | 0.00% | |
| 15,808 | 113.77 | 10.41 | +77.1% | +69.7% | 10.7% | 11.8% | 0.06% | |
| 14,891 | 78.77 | 11.33 | +4.0% | +16.3% | 15.7% | 17.4% | 0.15% | |
| 14,694 | – | 10.55 | – | – | −14.5% | −5.7% | 0.00% |
Dividends
Per share, by the year it was paid for, and the latest payments.Bharat Electronics dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossary| Ex-date | Type | Per share |
|---|---|---|
| 13 Aug 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹0.55 |
| 6 Mar 2026 | Interim | ₹1.95 |
| 14 Aug 2025 | Final | ₹0.90 |
| 11 Mar 2025 | Interim | ₹1.50 |
| 14 Aug 2024 | Final | ₹0.80 |
| 22 Mar 2024 | Interim | ₹0.70 |
Latest announcements
Routine notices left out.Bharat Electronics announcements
Oct 2026
27 Oct · Analysts
16 Oct · Board meeting
13 Oct · Business
Sep 2026
30 Sep · General Updates
17 Sep · Business
Bharat Electronics share price by year
Each calendar year to 2025.Bharat Electronics share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 399.60 | +36.3% | 432.25 | 244.60 |
| 2024 | 293.15 | +59.1% | 335.50 | 174.65 |
| 2023 | 184.20 | +84.4% | 184.20 | 88.95 |
| 2022 | 99.90 | +42.7% | 112.85 | 62.62 |
| 2021 | 69.98 | +75.0% | 74.53 | 39.75 |
| 2020 | 39.98 | +19.9% | 40.42 | 19.48 |
| 2019 | 33.35 | +13.8% | 40.13 | 24.83 |
| 2018 | 29.32 | −51.7% | 61.35 | 25.30 |
| 2017 | 60.72 | +45.7% | 63.00 | 41.38 |
| 2016 | 41.67 | +0.3% | 45.71 | 31.21 |
Recent sessions
The 9 trading days to 26 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 26 Oct 2026 | 361.00 | 364.50 | 356.20 | 363.00 | 361.81 | 90,49,094 | 53.8% |
| 23 Oct 2026 | 366.00 | 366.45 | 354.55 | 362.00 | 358.42 | 91,78,911 | 50.1% |
| 22 Oct 2026 | 369.55 | 369.55 | 361.70 | 364.50 | 365.25 | 81,79,108 | 41.8% |
| 21 Oct 2026 | 377.20 | 377.80 | 366.80 | 371.20 | 371.07 | 84,15,231 | 57.7% |
| 19 Oct 2026 | 376.00 | 380.50 | 374.55 | 377.20 | 377.06 | 54,19,051 | 50.5% |
| 16 Oct 2026 | 380.40 | 381.15 | 376.70 | 376.85 | 378.77 | 91,43,278 | 59.2% |
| 15 Oct 2026 | 380.45 | 382.50 | 377.30 | 380.40 | 380.41 | 91,00,694 | 53.6% |
| 14 Oct 2026 | 383.50 | 383.85 | 379.05 | 382.35 | 381.17 | 97,09,173 | 54.5% |
| 13 Oct 2026 | 373.00 | 380.00 | 369.40 | 380.00 | 376.13 | 80,41,157 | 54.5% |
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Bonus shares and stock split history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 15 Sep 2022 | Bonus | 0.3333 | Holders received 2 bonus shares for every 1 held. |
| 28 Sep 2017 | Bonus | 0.9091 | Holders received 1 bonus share for every 10 held. |
| 16 Mar 2017 | Split | 0.1000 | Each share became 10. |
| 14 Sep 2015 | Bonus | 0.3333 | Holders received 2 bonus shares for every 1 held. |
Company details
- NSE symbol
- BEL
- BSE code
- 500049
- ISIN
- INE263A01024
- Industry
- Aerospace & Defense
- Website
- www.bel-india.in
- CIN
- L32309KA1954GOI000787
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1954
- Registered office
- Outer Ring Road, Nagavara, Bengaluru 560045, Karnataka
- Share registrar
- Integrated Registry Management Services Pvt. Ltd (Integrated Enterprises (India) Ltd)
- Keeps the register of shareholders and handles transfers and dividend payments