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BEL · NSE · Aerospace & Defense

Bharat Electronics Ltd

What the numbers mean, from its filings and the exchange. Data as of 12 Oct 2026.
Large Cap · AMFI list Jan-Jun 2026 · Vendor sector: Consumer Cyclical
fair low confidence No valuation within 120 days; P/E 43.8 vs peers 48.1 (8th of 16); P/B 12.4 vs peers 9.4 (10th of 16).
Statements through FY2026Prices adjusted for corporate actionsNot yet reviewed by the adversarial model

What is Bharat Electronics's share price today?

Bharat Electronics last traded at ₹373.90 on the NSE, as of 12 Oct 2026, 11:00 pm IST, up 1.6% on the day, down 10.1% over a year. Its 52-week range is ₹366 to ₹473. The live price is in the app.

₹373.90 +1.6% today
−10.1% over 1 year · NSE, as of 12 Oct 2026, 11:00 pm IST
60 month-end closes, 31 Oct 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range7% of the way up
Low ₹366High ₹473

What is Bharat Electronics's market cap?

Bharat Electronics's market capitalisation is about ₹2.69 lakh crore: what it would cost to buy every share at today's price. That makes it the 31st largest large cap company we cover.

₹2.7 L Cr Large Cap31st largest large cap company
Large Cap means the 100 largest listed companies, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →

Key facts

From the exchange
Symbol
NSE: BEL
ISIN
INE263A01024
Cap bucket
Large Cap, 31st largest by market cap
Industry (NSE)
Industrials › Capital Goods › Aerospace & Defense
Listed since
2000
Futures and options
Traded

Is Bharat Electronics overvalued?

Fair, with low confidence: no valuation within 120 days; P/E 43.8 vs peers 48.1 (8th of 16); P/B 12.4 vs peers 9.4 (10th of 16).

Valuation

Latest price and trailing 12 months
P/E 43.83
vs peers 48.1 · 8th of 16
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B 12.36
vs peers 9.4 · 10th of 16
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap ₹2.69 lakh Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield 0.6%
vs peers 0.8% · 8th of 12
Last year's dividends as a share of today's price. Learn more →
PEG (vendor) Not available
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth 1.64
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
3 models could be judged
Skipped — Fair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored

Our valuation range

🔒 Pro
Value range, implied growth at today's price, and the nine models behind it: in the app.

Is Bharat Electronics a quality business?

Quality score 68.5, 4th of 16 in its peer set; WATCH on 30 of 30 flags judged.

Quality and risk

Data as of 12 Oct 2026
Business quality Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score 68.5
vs peers 58.1 · 4th of 16
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level WATCH
30 of 30 flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →

Profitability

ROE 27.9%
vs peers 24.0% · 7th of 16
Return on equity: profit as a share of shareholders' money. Learn more →
ROCE 35.4%
vs peers 32.1% · 6th of 16
Return on capital employed: operating profit as a share of all the capital in the business, debt and equity. Learn more →
Profit margin 21.0%
vs peers 12.6% · 2nd of 16
Profit after everything, as a share of revenue. Learn more →
EPS ₹8.24
Trailing 12 months
Profit for each share over the last 12 months.

Scorecard

🔒 Pro
Health scores and red flags with their values and history: in the app.
See the scorecard →
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Has Bharat Electronics made money for shareholders?

Mixed: −10.1% over one year and +41.8% a year over five years.

Shareholder returns

1-year return −10.1%
Price only
What the share price did over the last 12 months. Learn more →
5-year return +41.8% a year
Price only
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer No
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →

Returns

3Y and 5Y are yearly averages
1W
−4.3%
1M
−3.9%
3M
−10.4%
6M
−16.6%
1Y
−10.1%
3Y
+42.8%
5Y
+41.8%

Does Bharat Electronics pay a dividend?

Yes. Bharat Electronics's dividend yield is 0.62% at the latest price; the last payout was ₹0.55 a share, ex-dividend 13 Aug 2026.

Dividends

Per share, by ex-dividend date
Dividend yield0.62%
The past 12 months' dividends as a share of today's price.
13 Aug 2026 · Final₹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
Payout ratio🔒 In the app
The share of profit paid out as dividends; a very high share leaves little to reinvest.
Dividend growth, 5 years🔒 In the app
How fast the dividend per share has grown a year.
Years without a miss🔒 In the app
How many years in a row a dividend has been paid.

Is Bharat Electronics growing?

Revenue 3 years 16.1% a year; profit 3 years 26.6% a year; revenue 5 years 13.4% a year.

Growth

Statements through FY2026 (Mar-26)
Revenue 3 years 16.1% a year
vs peers 18.4% · 8th of 12
Compound annual growth of revenue over three years. Learn more →
Profit 3 years 26.6% a year
vs peers 30.1% · 7th of 11
Compound annual growth of net profit over three years. Learn more →
Revenue 5 years 13.4% a year
Compound annual growth of revenue over five years. Learn more →
Profit 5 years 20.7% a year
Compound annual growth of net profit over five years. Learn more →
EPS 3 years 26.6% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
EPS 5 years 23.6% a year
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
P/E vs own history 2.2%
vs peers 5.2% · 6th of 11
Today's P/E against its own 5-year median; negative is cheaper than its history. Learn more →

How did Bharat Electronics do last quarter?

Bharat Electronics reported revenue of ₹5,547 Cr, up 16.2% on a year earlier and a net profit of ₹1,044 Cr, up 13.9% in the Jun 2026 quarter.

Latest quarter

Jun 2026
Revenue, latest quarter₹5,547 Cr
+16.2% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹1,044 Cr
+13.9% on a year earlier
What was left for shareholders after every cost and tax.

How does Bharat Electronics compare with its peers?

Compared with 15 Capital Goods (the sector, as the industry was too small); 8th of 16 on P/E; 4th of 16 on quality score.

Compared with 15 Capital Goods (the sector, as the industry was too small)

15 companies

Bharat Electronics against its peers

Largest 10 of 15 peers, by market cap
CompanyMarket capP/EP/BROEROCE1YQuality 🔒Rank 🔒
Bharat Electronics Ltd₹2.7 L Cr43.812.427.9%35.4%−10.1%
Hindustan Aeronautics Ltd₹3.1 L Cr33.45.724.0%16.2%−1.9%
Tata Motors Ltd₹1.5 L Cr36.010.853.5%48.5%+24.5%
Bharat Heavy Electricals Ltd₹1.5 L Cr62.03.25.2%5.6%+84.6%
ABB India Ltd₹1.4 L Cr48.114.022.4%29.8%+31.7%
Hitachi Energy India Ltd₹1.4 L Cr118.620.921.0%27.9%+72.1%
CG Power & Industrial Solutions Ltd₹1.3 L Cr107.812.621.4%28.1%+14.5%
Cummins India Ltd₹1.3 L Cr56.615.831.2%39.6%+22.1%
Siemens Ltd₹1.3 L Cr39.17.712.0%12.3%+16.8%
Polycab India Ltd₹1.2 L Cr43.28.724.1%33.5%+7.4%
Siemens Energy India Ltd₹1.1 L Cr74.227.950.2%58.3%−2.6%
Peer median—48.19.424.0%32.1%+22.1%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.

Full peer comparison

🔒 Pro
Every peer, every figure, the ranks and the quality and forensic scores side by side: in the app.

Who owns Bharat Electronics?

Bharat Electronics is held by promoters 51.1%, foreign institutions 18.0%, domestic institutions 21.0%.

Shareholding pattern

Latest filing, percent of shares
Promoters51.1%
The founders and controlling group.
Foreign institutions18.0%
Overseas funds investing through the FPI route.
Domestic institutions21.0%
Indian insurers, banks, pension and mutual funds together.
Mutual funds15.0%
Indian mutual fund schemes; part of domestic institutions.
Retail and others8.1%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.

What do analysts say about Bharat Electronics?

30 analysts cover Bharat Electronics, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Analyst consensus

30 analysts
ConsensusBuy
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.

What does Bharat Electronics do and what is it sensitive to?

Bharat Electronics Limited designs, develops, manufactures and supplies strategic electronic products and systems, mainly to the defence sector, and also sells services such as installation, repairs and maintenance for products it has delivered. Sensitive to: USD exchange rate.

Business-model card

FY2025 · 40 verified
2Revenue
4Channels
2Regulators
4Reg. dependencies
5Sensitivities
4Costs
3Geographies

Bharat Electronics Limited designs, develops, manufactures and supplies strategic electronic products and systems, mainly to the defence sector, and also sells services such as installation, repairs and maintenance for products it has delivered. It earns through sale of products and income from services, with exports and non-defence customers as additional lines.

Revenue engine

2 verified
Sale of defence and non-defence electronic products and systems (90.5%)
Manufacturing line: designs, develops, manufactures and supplies electronic products and systems. Stated as 90.47% of entity turnover.
Income from services on delivered systems (9.5%)
Services line: installation, repairs, maintenance and AMC contracts for products delivered by the Company. Stated as 9.53% of entity turnover.

Customers & channels

4 verified
Defence customers (94.0%)
Defence supplies are stated as the bulk of turnover, so demand is tied to defence procurement.
Indian Armed Forces
Long-term relations and collaborative working with the armed forces are listed as the basis for identifying customer needs.
Export customers
Export sales are reported as an all-time high, pursued through foreign OEMs, customers and government channels.
1 more statement
Non-defence customers
Non-defence customers are engaged on competitive pricing, reliability and timely implementation.

Regulators

2 verified
Ministry of Defence (MoD)
Budget and procurement policy for the armed forces; the company's core customer side is governed by MoD budget estimates.
Foreign Exchange Management Act, 1999 (FEMA)
Governs foreign direct investment, overseas direct investment and external commercial borrowings relevant to the company's export and foreign operations.

Regulatory dependencies

4 verified
Government policy favouring domestic procurement
Government procurement policy directs demand to domestic suppliers, so domestic-procurement rules move revenue volume.
Government policy and budget allocations for domestic defence industrial base
Interpretation: policy that broadens the domestic supplier base can increase competition and affect market position in some segments, per the company's risk section.
Revenue recognition on price escalation and ERV clauses
Revenue on contracts with price escalation and ERV is recognised at the most likely amount realisable from the customer under contract terms.
1 more statement
Liquidated damages for delayed delivery
Interpretation: penalties and liquidated damages for delay reduce revenue where the customer's review applies; the note excludes them from transaction price in that case.

Sensitivities

5 verified
USD exchange rate
Stated sensitivity: a 5% increase in USD shows an impact of 4,351 on profit loss/(gain) at 31 March 2025, against 1,896 at 31 March 2024. Interpretation: direction of P&L effect depends on net USD exposure.
Interest rate on working capital borrowings
Interest on the non-fund working capital limit is payable on SBI's 3-month MCLR, so rate moves affect financing cost. The fund-based limit was unutilised.
Raw material prices and vendor defaults
Increased raw material prices can cause vendor defaults, which delays input supply.
2 more statements
Geopolitical supply chain disruption
Geopolitical turmoil has increased the possibility of supply chain disruptions for the defence industry.
Customer credit risk
Counterparty default on contractual obligations results in financial loss; bad debts and advances written off were 8,309 in FY 2024-25 against 16,602 in FY 2023-24.

Cost inputs

4 verified
Purchases from trading houses (15.0%)
Trading houses supply a share of total purchases; the company buys from 450 trading houses in FY 2024-25.
Domestic procurement
Stated value of domestic procurement, against a value of production of 23,835 Crore.
Procurement from micro and small enterprises (35.9%)
Share of procurements sourced from MSEs.
1 more statement
Input components with long lead times
Input materials and components face delays from supply chain discontinuities, capacity constraints and long lead times.

Geographies

3 verified
Export markets
Products and systems are exported to these named countries and SEZs.
Domestic market
Products are served across Indian states and union territories through defence forces and non-defence customers.
International markets
Markets served across 14 countries per the market-served disclosure.
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.

What changed recently?

Q1 FY2027 results filed (27 Jul 2026).

Change log

6 entries · newest first
  1. Results filedQ1 FY2027 results filed.
  2. Results filedQ4 FY2026 results filed.
  3. Results filedQ3 FY2026 results filed.
  4. Results filedQ2 FY2026 results filed.
  5. Results filedQ1 FY2026 results filed.
  6. Results filedQ4 FY2025 results filed.
Get alerts →Sign in to be told when any of these change.

What this page does not tell you

What could not be judged, and why. Never empty.
  • Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored.
  • FlagsWATCH on 30 of 30 flags judged; 2 red.
  • Data gapsPEG (vendor), Business quality: not available yet.

What this page rests on

✓10 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓285 months of month-end prices, adjusted for bonuses and splits○no valuation of ours yet✓business-model card FY2025 · 40 verified

Questions people ask

What is Bharat Electronics's share price today?

Bharat Electronics last traded at ₹373.90 on the NSE, as of 12 Oct 2026, 11:00 pm IST, up 1.6% on the day, down 10.1% over a year. Its 52-week range is ₹366 to ₹473. The live price is in the app.

What is Bharat Electronics's market cap?

Bharat Electronics's market capitalisation is about ₹2.69 lakh crore: what it would cost to buy every share at today's price. That makes it the 31st largest large cap company we cover.

Is Bharat Electronics Ltd a large cap, mid cap or small cap?

Bharat Electronics Ltd (BEL) is a large cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.

What is Bharat Electronics Ltd's P/E ratio?

43.83, vs peers 48.1 · 8th of 16. Price divided by last year's earnings per share: how many years of today's profit you pay for.

Is Bharat Electronics Ltd overvalued?

Fair, with low confidence: no valuation within 120 days; P/E 43.8 vs peers 48.1 (8th of 16); P/B 12.4 vs peers 9.4 (10th of 16).

How does Bharat Electronics Ltd make money?

Bharat Electronics Limited designs, develops, manufactures and supplies strategic electronic products and systems, mainly to the defence sector, and also sells services such as installation, repairs and maintenance for products it has delivered. It earns through sale of products and income from services, with exports and non-defence customers as additional lines.

Who are Bharat Electronics Ltd's peers?

Compared with 15 Capital Goods (the sector, as the industry was too small): Hindustan Aeronautics Ltd, Tata Motors Ltd, Bharat Heavy Electricals Ltd, ABB India Ltd, Hitachi Energy India Ltd and 10 more. The app shows how they compare on every figure.

Is this investment advice?

No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.

How did Bharat Electronics do last quarter?

Bharat Electronics reported revenue of ₹5,547 Cr, up 16.2% on a year earlier and a net profit of ₹1,044 Cr, up 13.9% in the Jun 2026 quarter.

Who owns Bharat Electronics?

Bharat Electronics is held by promoters 51.1%, foreign institutions 18.0%, domestic institutions 21.0%.

Does Bharat Electronics pay a dividend?

Yes. Bharat Electronics's dividend yield is 0.62% at the latest price; the last payout was ₹0.55 a share, ex-dividend 13 Aug 2026.

What do analysts say about Bharat Electronics?

30 analysts cover Bharat Electronics, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Everything on Bharat Electronics, and 6,621 other companies, with 212 filters and the full peer tables

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