Incorporated in 1954, Bharat Electronics Ltd manufactures and supplies electronic equipment and systems to the defence sector. Company also has a limited presence in the civilian market[1]
Prices delayed · Fundamentals as reported · checked 30 Oct, 9:31 am ISTData as published. No model runs on this page.
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Automated flags from the reported numbers. Context, not a call.
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 3,533 | 4,009 | 4,162 | 8,564 | 4,244 | 4,605 | 5,771 | 9,150 | 4,440 | 5,792 | 7,154 |
Generated on demand from the fundamentals above plus a live web scan. Takes one to two minutes.
The business narrative, written down and turned into explicit assumptions.
A valuation from those assumptions, under bull, base and bear cases.
Where today's price sits relative to that range.
| 10,224 |
| 5,547 |
| Expenses + | 2,860 | 2,995 | 3,090 | 6,277 | 3,295 | 3,205 | 4,101 | 6,334 | 3,201 | 4,090 | 5,027 | 7,243 | 4,159 |
| Operating Profit | 673 | 1,014 | 1,072 | 2,287 | 948 | 1,400 | 1,669 | 2,816 | 1,238 | 1,702 | 2,127 | 2,982 | 1,388 |
| OPM % | 19% | 25% | 26% | 27% | 22% | 30% | 29% | 31% | 28% | 29% | 30% | 29% | 25% |
| Other Income + | 140 | 137 | 167 | 225 | 204 | 158 | 186 | 195 | 163 | 154 | 139 | 110 | 170 |
| Interest | 1 | 2 | 1 | 4 | 1 | 1 | 1 | 6 | 1 | 2 | 2 | 2 | 1 |
| Depreciation | 109 | 108 | 107 | 119 | 108 | 111 | 111 | 138 | 121 | 126 | 135 | 173 | 161 |
| Profit before tax | 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 |
| Tax % | 25% | 25% | 25% | 25% | 25% | 25% | 25% | 26% | 25% | 26% | 26% | 24% | 25% |
| Net Profit + | 539 | 790 | 860 | 1,797 | 791 | 1,093 | 1,312 | 2,127 | 969 | 1,287 | 1,580 | 2,226 | 1,055 |
| EPS in Rs | 0.74 | 1.08 | 1.18 | 2.46 | 1.08 | 1.49 | 1.79 | 2.91 | 1.33 | 1.76 | 2.16 | 3.04 | 1.44 |
| Raw PDF |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 7,093 | 7,354 | 8,656 | 10,401 | 12,164 | 12,968 | 14,109 | 15,368 | 17,734 | 20,268 | 23,769 | 27,610 | 28,717 |
| Expenses + | 5,913 | 5,961 | 6,864 | 8,361 | 9,255 | 10,209 | 10,895 | 12,024 | 13,645 | 15,217 | 16,932 | 19,557 | 20,518 |
| Operating Profit | 1,179 | 1,393 | 1,792 | 2,039 | 2,909 | 2,759 | 3,214 | 3,344 | 4,090 | 5,051 | 6,837 | 8,053 | 8,199 |
| OPM % | 17% | 19% | 21% | 20% | 24% | 21% | 23% | 22% | 23% | 25% | 29% | 29% | 29% |
| Other Income + | 507 | 573 | 420 | 196 | 73 | 99 | 125 | 232 | 281 | 670 | 742 | 566 | 572 |
| Interest | 7 | 10 | 18 | 6 | 16 | 8 | 10 | 9 | 19 | 12 | 13 | 10 | 6 |
| Depreciation | 166 | 192 | 212 | 272 | 338 | 372 | 387 | 401 | 429 | 443 | 467 | 556 | 595 |
| Profit before tax | 1,513 | 1,764 | 1,983 | 1,957 | 2,628 | 2,478 | 2,942 | 3,166 | 3,923 | 5,266 | 7,099 | 8,053 | 8,170 |
| Tax % | 21% | 24% | 24% | 28% | 30% | 28% | 30% | 26% | 25% | 25% | 26% | 25% | |
| Net Profit + | 1,197 | 1,337 | 1,523 | 1,431 | 1,887 | 1,825 | 2,100 | 2,400 | 2,986 | 3,985 | 5,323 | 6,062 | 6,148 |
| EPS in Rs | 1.51 | 1.69 | 2.07 | 1.96 | 2.58 | 2.50 | 2.87 | 3.28 | 4.08 | 5.45 | 7.28 | 8.29 | 8.40 |
| Dividend Payout % | 20% | 31% | 33% | 34% | 44% | 37% | 46% | 46% | 44% | 40% | 33% | 30% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 80 | 240 | 223 | 244 | 244 | 244 | 244 | 244 | 731 | 731 | 731 | 731 |
| Reserves | 8,037 |
| 9,006 |
| 7,512 |
| 7,772 |
| 8,968 |
| 9,828 |
| 10,816 |
| 12,042 |
| 13,131 |
| 15,595 |
| 19,243 |
| 23,257 |
| Borrowings + | 25 | 28 | 64 | 80 | 34 | 8 | 3 | 53 | 61 | 63 | 61 | 65 |
| Other Liabilities + | 7,587 | 9,330 | 9,800 | 10,868 | 11,575 | 14,271 | 18,430 | 21,574 | 21,567 | 23,136 | 20,788 | 20,473 |
| Total Liabilities | 15,729 | 18,605 | 17,600 | 18,965 | 20,821 | 24,351 | 29,492 | 33,912 | 35,490 | 39,524 | 40,824 | 44,527 |
| Fixed Assets + | 1,073 | 1,232 | 1,501 | 1,839 | 2,298 | 2,713 | 2,652 | 2,675 | 2,963 | 3,035 | 3,419 | 4,121 |
| CWIP | 140 | 430 | 743 | 940 | 849 | 828 | 883 | 1,006 | 855 | 894 | 1,052 | 731 |
| Investments | 0 | 462 | 491 | 937 | 964 | 1,110 | 1,306 | 1,572 | 650 | 682 | 743 | 800 |
| Other Assets + | 14,516 | 16,481 | 14,865 | 15,248 | 16,710 | 19,700 | 24,651 | 28,659 | 31,022 | 34,913 | 35,610 | 38,876 |
| Total Assets | 15,729 | 18,605 | 17,600 | 18,965 | 20,821 | 24,351 | 29,492 | 33,912 | 35,490 | 39,524 | 40,824 | 44,527 |