| ₹ crore | Q1 FY27 | Q1 FY26 | Change |
|---|---|---|---|
| Revenue | 5,547 | 4,440 | +24.9% |
| EBITDA | 1,388 | 1,238 | +12.1% |
| EBITDA margin | 25.0% | 27.9% | −2.9 pts |
| Profit before tax | 1,396 | 1,279 | +9.1% |
| Net profit | 1,055 | 969 | +8.8% |
| EPS | ₹1.44 | ₹1.33 | +8.3% |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 | FY22 and earlierAlpha Plus |
|---|
| 2,65,602 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 1,888 | 1,888 | 713 | 1,206 | 3,946 | ||
| 18.8 | 18.8 | 18.9 | 17.9 | 17.8 | ||
| 2,63,732 | — | — | — | — | ||
| 28,717 | 27,610 | 23,769 | 20,268 | 17,734 | ||
| — | +16.2% | +17.3% | +14.3% | — | ||
| 8,199 | 8,049 | 6,834 | 5,046 | 4,086 | ||
| 28.6% | 29.2% | 28.8% | 24.9% | 23.0% | ||
| 7,604 | 7,494 | 6,366 | 4,603 | 3,657 | ||
| 6,148 | 6,062 | 5,323 | 3,985 | 2,986 | ||
| 21.4% | 22.0% | 22.4% | 19.7% | 16.8% | ||
| ₹8.41 | ₹8.29 | ₹7.28 | ₹5.45 | ₹4.08 | ||
| — | +13.9% | +33.6% | +33.5% | — | ||
| — | 1,541 | 587 | 4,659 | 1,267 | ||
| — | −985 | −1,011 | −653 | −590 | ||
| 556 | 556 | −425 | 4,007 | 676 | ||
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 2,65,601.6 | |
| - Cash, Equiv & ST Investments | 3,945.7 | 1,206.3 | 713.5 | 1,888.0 | 1,888.0 | |
| + Minority Interest | 17.8 | 17.9 | 18.9 | 18.8 | 18.8 | |
| Enterprise Value | — | — | — | — | 2,63,732.5 | |
| Revenue | 17,734.4 | 20,268.2 | 23,768.8 | 27,610.1 | 28,717.4 | |
| Growth %, YoY | — | +14.3 | +17.3 | +16.2 | — | |
| EBITDA | 4,085.9 | 5,046.4 | 6,833.7 | 8,049.3 | 8,199.5 | |
| Margin % | 23.04 | 24.90 | 28.75 | 29.15 | 28.55 | |
| EBIT | 3,657.1 | 4,603.2 | 6,366.3 | 7,493.7 | 7,604.0 | |
| Net Income | 2,986.2 | 3,985.2 | 5,322.7 | 6,062.3 | 6,147.7 | |
| Margin % | 16.84 | 19.66 | 22.39 | 21.96 | 21.41 | |
| EPS, Adj (current shares) | 4.08 | 5.45 | 7.28 | 8.29 | 8.41 | |
| Growth %, YoY | — | +33.5 | +33.6 | +13.9 | — | |
| Cash from Operations | 1,266.9 | 4,659.5 | 586.6 | 1,541.4 | — | |
| Capital Expenditures | -590.5 | -652.5 | -1,011.3 | -985.4 | — | |
| Free Cash Flow | 676.4 | 4,007.0 | -424.7 | 556.0 | 556.0 | |
Prices at the 29 October 2026 close · figures from the company's filings with NSE
Bharat Electronics (NSE: BEL) had a market capitalisation of ₹2,70,463 crore at the 29 October 2026 close (₹370.00 a share), a PE ratio of 44.0 on the last four quarters' profit and a price-to-book ratio of 11.27. In FY26 its consolidated net profit was ₹6,062 crore on revenue of ₹27,610 crore; in Q1 FY27 (April–June 2026) it was ₹1,054 crore, up 8.7% year on year. It had no borrowings on 31 March 2026. Promoters held 51.14% of the shares on 30 September 2026.
BEL's PE ratio is 44.0 at the 29 October 2026 close (₹370.00 a share): a market capitalisation of ₹2,70,463 crore divided by consolidated net profit of ₹6,146 crore over the last four quarters (Q2 FY26 to Q1 FY27). On FY26 net profit (₹6,062 crore) it is 44.6.
BEL's net worth — shareholders' equity in its consolidated balance sheet — was ₹23,988 crore on 31 March 2026, up 20.1% from ₹19,974 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹2,70,463 crore at the 29 October 2026 close.
BEL's book value per share was ₹32.82 on 31 March 2026: shareholders' equity of ₹23,988 crore divided by the 730.98 crore shares in issue, up 20.1% from ₹27.32 a year earlier. The share price at the 29 October 2026 close was ₹370.00.
BEL's price-to-book (PB) ratio is 11.27 at the 29 October 2026 close: a market capitalisation of ₹2,70,463 crore divided by shareholders' equity (book value) of ₹23,988 crore on 31 March 2026. That is a book value of ₹32.82 per share against a share price of ₹370.00.
In FY26, BEL's return on equity (ROE) was 27.6% and its return on capital employed (ROCE) was 32.3%. ROE is net profit divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 29.3% and ROCE 33.0%.
BEL's dividend yield is 0.68% at the 29 October 2026 close: dividends of ₹2.50 a share that went ex-dividend in the 12 months before that day, divided by the share price of ₹370.00. They were ₹0.55 on 13 August 2026 and ₹1.95 on 6 March 2026 (interim).
BEL's market capitalisation was ₹2,70,463 crore (₹2.70 lakh crore) at the 29 October 2026 close: 730.98 crore shares at ₹370.00 each.
Yes. BEL had no borrowings on 31 March 2026 (consolidated balance sheet), and it held ₹8,572 crore of cash, bank balances and current investments.
BEL's debt-to-equity ratio was 0.00 on 31 March 2026: no borrowings against total equity of ₹24,007 crore. A year earlier, on 31 March 2025, it was 0.00.
BEL's basic earnings per share (EPS) were ₹8.29 in FY26, against ₹7.28 in FY25. Over the last four quarters (Q2 FY26 to Q1 FY27) they add up to ₹8.40.
Promoters held 51.14% of BEL on 30 September 2026, unchanged from both the previous quarter and a year earlier, according to the shareholding pattern filed with NSE.
BEL will announce its Q2 FY27 results (July–September 2026) on Friday, 30 October 2026, the date of the board meeting it has notified to the exchanges.
In 2026, BEL has declared two dividends totalling ₹2.50 a share: ₹1.95 (interim) with record date 6 March 2026 and ₹0.55 with record date 13 August 2026.
In FY26, BEL generated ₹1,541 crore of cash from operations and spent ₹985 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of ₹556 crore. In FY25 it was −₹425 crore.
BEL's latest results are for Q1 FY27 (April–June 2026), filed on 27 July 2026: consolidated net profit ₹1,054 crore, up 8.7% from ₹970 crore in Q1 FY26; revenue from operations ₹5,547 crore, up 24.9% year on year.
On 30 September 2026, BEL's shares were held by promoters 51.14%, foreign portfolio investors (FII/FPI) 16.98%, domestic institutions (DII) 21.88% (including mutual funds at 14.90%) and retail and other non-institutional investors 10.00%. Over the year, FII holding was down 1.17 percentage points from 18.15% and DII holding was up 1.00 percentage points from 20.88%.
On FY26 consolidated figures, against HAL and Data Patterns: BEL's operating margin of 27.1% is the second highest of the three (HAL 25.4%, Data Patterns 38.0%; peer average 31.7%); its return on equity of 27.6% is the highest of the three (HAL 24.0%, Data Patterns 16.7%; peer average 20.4%).
In FY26, BEL earned net profit of ₹6,062 crore on revenue of ₹27,610 crore, against ₹9,116 crore on ₹33,089 crore for HAL. BEL's operating margin was 27.1% (HAL 25.4%) and its return on equity 27.6% (HAL 24.0%). At the 29 October 2026 close, BEL's market capitalisation was ₹2,70,463 crore against ₹3,25,689 crore for HAL, and its PE ratio on FY26 profit 44.6 against 35.7.
In FY26 (April 2025–March 2026), BEL's consolidated net profit was ₹6,062 crore, up 13.9% from ₹5,321 crore in FY25, on revenue from operations of ₹27,610 crore (up 16.2%). Over three years, from FY23, net profit was up 103.1%.
At the 29 October 2026 closing prices, on FY26 net profit, BEL's PE ratio is 44.6, the second highest of the three: HAL 35.7 and Data Patterns 83.0, a peer average of 59.4. Each is the company's market capitalisation at that price divided by its FY26 net profit.
From Bharat Electronics' own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 29 October 2026 close). Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.