Bharat Electronics cash flow

Latest FY26

Cash from operations: ₹1,541cr+162.8% on FY25
Capital spending: ₹985cr−2.6% on FY25
Free cash flow: ₹556cr−₹425 cr in FY25
Cash from financing: −₹2,097cr−₹1,696 cr in FY25

₹ crore except per share

Tap a line for its trend	Last 12Mto Sep 2026	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus

Changes in working capital
Adjustments to reconcile profit — non-cash items						FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	—	556	467	443	429
	—	2.5	5.5	2.9	11.3
	—	−38.8	−35.5	−42.1	−45.9
	—	48.3	0.0	0.0	0.0
	—	−46.2	−17.7	1,196	106
	—	−1,057	−1,672	−1,065	−835
	—	−3,759	−1,724	−1,190	−925
	—	26.9	3.1	45.7	−94.6
	—	476	998	593	138
	—	245	−368	376	−38.9
	—	231	65.0	33.5	320
	—	−1,066	−2,003	991	490
	—	—	−10.3	—	—
	—	344	−10.3	−86.9	−979
Cash from operating activities
	8,496	8,053	7,099	5,266	3,923
	—	−3,960	−4,220	1,380	−1,332
	—	4,093	2,879	6,646	2,591
	—	−535	−622	−572	−261
	—	−4.3	−4.2	−4.2	−3.7
	—	0.0	0.0	−0.2	−154
	—	2,021	1,675	1,418	913
	—	1,541	587	4,659	1,267
Cash from investing activities
	—	985	1,011	653	590
	—	3.9	3.1	8.5	1.7
	—	12.0	0.1	0.1	2.3
	—	588	673	443	261
	—	2,111	952	−5,723	3,016
	—	1,730	617	−5,924	2,691
Cash from financing activities
	—	7.2	6.0	5.8	4.3
	—	6.7	4.2	4.2	3.7
	—	2,083	1,681	1,462	1,243
	—	0.0	−5.5	−2.9	−62.0
	—	−2,097	−1,696	−1,475	−1,313
	—	1,175	−493	−2,739	2,645
	—	1,175	−493	−2,739	2,645
	—	1,888	713	1,206	3,946
Reference items
	8,538	8,049	6,834	5,046	4,086
	28.2%	29.2%	28.8%	24.9%	23.0%
	556	556	−425	4,007	676
	—	549	−429	4,003	—
	₹0.76	₹0.76	−₹0.58	₹5.48	₹0.93
	486.43×	—	—	—	—
	—	0.25×	0.11×	1.17×	0.42×
	—	2,021	1,675	1,418	913
	—	6.7	4.2	4.2	3.7

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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

BEL₹370.00

Bharat Electronics Ltd.

· Capital Goods & Defence

₹ CrorePeersHAL BDL DATAPATTNS CGPOWER ABB CUMMINSIND ENRIN SIEMENSMcap ₹2.70L Cr

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In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Last 12M 30/09/2026
Adjustments to Reconcile Profit — Non-cash Items
+ Depreciation & Amortisation	428.8	443.2	467.4	555.7	—
+ Finance Costs	11.3	2.9	5.5	2.5	—
+ Undistributed Profits of Associates	-45.9	-42.1	-35.5	-38.8	—
+ Other Non-cash Items	0.0	0.0	0.0	48.3	—
+ Other Reconciling Items	106.3	1,195.6	-17.7	-46.2	—
Changes in Working Capital
+ Inventories	-834.7	-1,065.3	-1,672.1	-1,056.6	—
+ Trade Receivables — Current	-925.4	-1,190.1	-1,724.0	-3,759.4	—
+ Other Financial Assets — Current	-94.6	45.7	3.1	26.9	—
+ Other Current Assets	137.8	592.6	998.4	476.3	—
+ Trade Payables — Current	-38.9	375.6	-367.5	244.6	—
+ Other Financial Liabilities — Current	320.3	33.5	65.0	231.1	—
+ Other Current Liabilities	490.0	990.8	-2,002.8	-1,066.0	—
+ Provisions	—	—	-10.3	—	—
+ Provisions — Current	-978.8	-86.9	-10.3	344.1	—
Cash from Operating Activities
Profit Before Tax (per I/S)	3,922.9	5,266.2	7,099.0	8,053.0	8,496.0
+ Total Adjustments (incl. Working Capital)	-1,332.0	1,379.6	-4,219.6	-3,959.9	—
Cash from Operations (pre-tax)	2,590.9	6,645.8	2,879.4	4,093.0	—
+ Interest Received — Operating	-260.9	-572.0	-622.3	-535.3	—
+ Interest Paid — Operating	-3.7	-4.2	-4.2	-4.3	—
+ Other Inflows / (Outflows) — Operating	-153.6	-0.2	0.0	0.0	—
+ Income Taxes Paid	913.2	1,418.4	1,674.6	2,020.6	—
Cash from Operating Activities	1,266.9	4,659.5	586.6	1,541.4	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	590.5	652.5	1,011.3	985.4	—
+ Disp of Fixed Assets	1.7	8.5	3.1	3.9	—
+ Government Grants Received	2.3	0.1	0.1	12.0	—
+ Interest Received — Investing	260.9	442.6	673.4	588.3	—
+ Other Inflows / (Outflows) — Investing	3,016.4	-5,722.6	951.7	2,111.1	—
Cash from Investing Activities	2,690.8	-5,923.9	616.9	1,730.0	—
Cash from Financing Activities
+ Payment of Lease Liabilities	4.3	5.8	6.0	7.2	—
+ Interest Paid	3.7	4.2	4.2	6.7	—
+ Dividends Paid	1,242.8	1,462.1	1,680.8	2,082.9	—
+ Other Inflows / (Outflows) — Financing	-62.0	-2.9	-5.5	0.0	—
Cash from Financing Activities	-1,312.9	-1,475.0	-1,696.4	-2,096.9	—
Net Changes in Cash (pre-FX)	2,644.8	-2,739.4	-492.9	1,174.5	—
Net Changes in Cash	2,644.8	-2,739.4	-492.9	1,174.5	—
Closing Cash	3,945.7	1,206.3	713.5	1,888.0	—
Reference Items
EBITDA	4,085.9	5,046.4	6,833.7	8,049.3	8,538.2
EBITDA Margin %	23.04	24.90	28.75	29.15	28.22
Free Cash Flow (CFO − Capex)	676.4	4,007.0	-424.7	556.0	556.0
Free Cash Flow to Equity	—	4,002.8	-428.8	549.3	—
Free Cash Flow per Basic Share	0.93	5.48	-0.58	0.76	0.76
Price to Free Cash Flow	—	—	—	—	486.43
Cash Flow to Net Income	0.42	1.17	0.11	0.25	—
Cash Paid for Taxes	913.2	1,418.4	1,674.6	2,020.6	—
Cash Paid for Interest	3.7	4.2	4.2	6.7	—

As filed, sign as filed: a payment tagged as a positive magnitude in the filing stays positive here, so read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown — depth follows the filer, so a thin statement means a thin filing. Total Adjustments is the filer's own grand total of the reconciliation and spans BOTH the non-cash items and the working-capital block; Profit Before Tax plus it equals Cash from Operations (pre-tax). It can be reported when its components are not, so it is never a sum of the rows above it. No consensus estimates → no Est columns. Click any row to chart it.

« ‹ › »Latest: FY26 · ConsolidatedFA Financial Analysis · alphave

Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 145%.