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Bharat Electronics Ltd.
BELLarge CapNSEBSE
Industrials · Capital Goods
₹409.75down 1.25down 0.30 percentas of 28 Aug 2026
Book value ₹32.65Div yield 0.61%
Key metrics
- Market Cap
- 3,02,624.85 ₹ cr
- P/E
- 49.69 x
- P/B
- 12.55 x
- ROE
- 7.02%
- ROCE
- 7.12%
- Debt to Equity
- 0.60 x
- Net Margin
- 6.52%
- Dividend Yield
- 0.61%
- Revenue Growth (YoY)
- 24.94%
Observations
Mechanical observations generated from stored data, not analysis or opinion. Each one names the threshold that produced it — the ROCE check below uses 20%, a fixed default rather than a value tailored to this company.
- ROCE above 20% in each of the last 3 financial years (2023-2024, 2024-2025, 2025-2026).
- Revenue grew year-on-year in each of the last 3 years.
- Net margin declined year-on-year in 1 of the last 3 years.
- Promoter holding 51.1% (pledge data not available).
- Debt-to-equity 0.60 — above the Capital Goods median of 0.31.
BEL
₹409.75down 0.30 percent
EOD Synced: 28 Aug 2026 18:30 ISTOverview & Live Price Chart
Executive Investment Verdict & Quality Synthesis
Autonomous V2Multi-dimensional quantitative synthesis across capital efficiency, forensic accounting, intrinsic valuation, and ownership governance.
Factual Quantitative Consensus
1. Capital Efficiency & MoatHigh ROCE Compounder
29.65%ROCE
ROE: 25.27%·P/B: 12.55x
2. Forensic Health & SolvencyPiotroski 8/9 · Strong Health
8/9Piotroski Score
Altman: 6.9 (Safe Zone)
3. Valuation & DCF Spread-97.0% Valuation Premium
₹12DCF Fair Value
CMP: ₹409.8
4. Ownership & GovernanceClean Promoter Holding
51.14%Promoter Stake
Pledged: 0.0%·Inst: 33.01%
Institutional Factor Scores
QVGM Factor Grade Matrix
Institutional Multi-Factor Profile (QVGM)
Composite 0–100 percentile ranks normalized across all 500 universe constituents
Rank #53 of 86 in IndustrialsQVGM 42/100
Quality (Q)31
ROE, ROCE, Margins & Cash Conversion
Value (V)26
P/E, P/B, EV/EBITDA vs Sector Benchmarks
Growth (G)66
3Y Sales & EPS Compounded Growth
Momentum (M)51
Relative Strength & Trend Position
TheScreener Radar™ 5-Pillar Quantitative Scorecard
Holistic quantitative radar evaluating fundamental quality, valuation multiples, balance sheet health, growth, and price momentum
Sector Rank:Rank #53 of 86 in Industrials
Valuation
Weak26/100
P/E Ratio:49.69x
P/B Ratio:12.55x
Dividend Yield:0.61%
P/E, P/B, EV/EBITDA & Dividend Yield relative to 5Y medians and sector
Growth
Moderate66/100
3Y Sales CAGR:—
3Y PAT CAGR:—
Quarterly YoY:+12.4%
3-Year Compounded Sales & Net Profit Growth trajectory
Profitability
Weak31/100
ROE:25.3%
ROCE:29.7%
OPM %:—
Return on Equity (ROE), ROCE & Operating Margin efficiency
Solvency & Health
Strong89/100
Piotroski F-Score:8/9
Altman Z-Score:6.87
Debt / Equity:0.00
Balance Sheet strength, Altman Z-Score & Piotroski F-Score checklist
Momentum
Moderate51/100
1Y Return:—
RSI (14):54.2
From 52W High:—
1-Year Relative Strength vs NIFTY 500, RSI-14 & 52W High distance
Quantitative Drivers & Growth Analysis
52-week corridor, deep valuation multiples, compounded CAGR trajectory, and institutional flow shifts
52-Week Low₹370.80
From 52W High-12.53%
52-Week High₹468.45
Valuation MultiplesCash Flow & Yield
PEG Ratio1.89
Earnings Yield23.12%
Price / FCF—
FCF Yield-0.44%
Payout Ratio2.64%
Net-Net Ratio-7.97
Solvency & SafetyPiotroski & Altman
Piotroski F-Score8/9
Altman Z-Score6.87
Graham Number₹263.78
1Y Flow & Margin ShiftsTrailing 12M
FII Stake:▼ 1.49%
DII Stake:▲ +0.71%
OPM Margin:▲ +0.36%
Net Margin:▼ 0.43%
Compounded Annual Growth Rate (CAGR Matrix)
Historical Fundamental Trajectory| Metric | QoQ Shift | YoY Shift | 1Y CAGR | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Revenue Growth | ▼ 45.75% | ▲ +24.94% | 16.16% | 15.90% | 14.37% |
| Net Profit Growth | ▼ 52.62% | ▲ +8.70% | 13.92% | 26.64% | 23.63% |
| EPS Growth | ▼ 52.63% | ▲ +8.27% | 13.87% | 26.35% | 23.63% |
Intrinsic Valuation Models & DCF Sensitivity
Institutional DCF & Intrinsic Valuation Studio — BEL
2-Stage Discounted Cash Flow, Reverse DCF Implied Growth, and Benjamin Graham & Peter Lynch valuation benchmarks.
DCF Intrinsic Fair Value
₹12.6
Verdict:Overvalued (-96.9%)
Benjamin Graham Number
₹78.2
-80.9% vs CMPPeter Lynch Fair Value
₹41.5
-89.9% vs CMPReverse DCF Implied Growth
60.0% CAGR
Aggressive Expectations (Priced for Perfection)Valuation Spectrum PositioningCMP: ₹409.8
₹0 (Distress)CMP: ₹410DCF: ₹13Graham: ₹78
Scenario Calibration & Sensitivity Levers
Tune Discount Rate (WACC), 5-Year Growth, and Terminal Value to model bear, base, and bull cases.
Discount Rate (WACC)11.5%
Cost of Capital Hurdle
5-Year FCF Growth CAGR6.0%
Assumed stage-1 cash flow expansionTerminal Growth Rate4.5%
Long-term perpetual GDP growth rate5-Year Projected Cash Flow Schedule (₹ Cr)
| Projection Period | Growth Rate | Projected FCF | Discount Factor | Present Value |
|---|---|---|---|---|
| Year 1 | 6% | ₹589 | 0.8969 | ₹529 |
| Year 2 | 6% | ₹625 | 0.8044 | ₹503 |
| Year 3 | 6% | ₹662 | 0.7214 | ₹478 |
| Year 4 | 6% | ₹702 | 0.6470 | ₹454 |
| Year 5 | 6% | ₹744 | 0.5803 | ₹432 |
2D Sensitivity Matrix (WACC vs Terminal Growth Rate)
Click any cell to apply WACC & terminal growth scenario. Values in ₹ / share.| WACC \ g(Terminal) | 3.0% | 4.0% | 4.5% | 5.0% | 6.0% |
|---|---|---|---|---|---|
| 10.0% | ₹13 -97% | ₹15 -96% | ₹16 -96% | ₹17 -96% | ₹21 -95% |
| 11.0% | ₹12 -97% | ₹13 -97% | ₹14 -97% | ₹14 -96% | ₹17 -96% |
| 11.5% | ₹11 -97% | ₹12 -97% | ₹13 -97% | ₹13 -97% | ₹15 -96% |
| 12.0% | ₹10 -97% | ₹11 -97% | ₹12 -97% | ₹12 -97% | ₹14 -97% |
| 13.0% | ₹9 -98% | ₹10 -98% | ₹10 -97% | ₹11 -97% | ₹12 -97% |
Discounted cash flow (DCF) and valuation models are quantitative projections based on user-supplied assumptions — not a forecast, not a guarantee of future performance, and not SEBI-registered investment advice. Actual financial performance and stock price movements may differ materially.
New to intrinsic valuation models? Learn how Discounted Cash Flow and Terminal Growth rates work.Read DCF Academy Guide →
Valuation history
P/E49.69current
ReportedComputed, approximate
P/B12.55current
ReportedComputed, approximate
The dashed line is computed from historical close price divided by the most recently reported annual EPS or book value — not IndianAPI's own figure, which only ever gives a single current reading with no history behind it. Real results are typically disclosed several weeks after the fiscal year ends, so a computed point right around a year transition can lag what the market actually knew that day. The solid line is the real reported figure.
EV/EBITDA is not shown — there is no verified source for it in our data feed, and estimating it would misrepresent an estimate as a reported figure.
| Date | P/E | P/B |
|---|---|---|
| 31 Aug 2026 | 49.69 | 12.55 |
Analyst Consensus, Price Targets & Forecasts
Analyst Consensus & Recommendations
Aggregated institutional equity research ratings · 31 Aug 2026
Buy(1.87 / 5)
Strong Buy:8
Buy:20
Hold:0
Sell:2
Strong Sell:0
Coverage: 30 contributing analystsScale: 1 (Strong Buy) – 5 (Strong Sell)
Ratings shown are third-party analyst estimates compiled from institutional brokers. They do not constitute investment advice.
Risk Profile & Volatility
Statistical return volatility classification · 31 Aug 2026
Moderate risk
Low RiskModerate RiskHigh Risk
Annualised Standard Deviation:24.05%
Analyst Price Targets
12-month forward price consensus · 31 Aug 2026
Upside: +19.10%
Mean Target₹488.00vs CMP ₹409.75
High Target₹550.00+34.2% max upside
Low Target₹346.00-15.6% downside
Median Target₹500.0029 estimates
Low: ₹346.00Mean: ₹488.00High: ₹550.00
Mean Target Current Price (₹409.75)
Price targets are third-party analyst estimates compiled from institutional brokers. They do not constitute investment advice.
Forward Financial Forecasts & Consensus Estimates
Institutional broker consensus estimates and forward earnings trajectory
FY2024EConsensus
Mean Estimate
₹1.08
Low:—
High:—
FY2024EConsensus
Mean Estimate
₹0.74
Low:—
High:—
FY2024EConsensus
Mean Estimate
₹1.17
Low:—
High:—
FY2024EConsensus
Mean Estimate
₹2.46
Low:—
High:—
FY2025E3 Analysts
Mean Estimate
₹1.79
Low:—
High:—
FY2025E3 Analysts
Mean Estimate
₹1.50
Low:—
High:—
FY2025E5 Analysts
Mean Estimate
₹2.91
Low:—
High:—
FY2025EConsensus
Mean Estimate
₹1.08
Low:—
High:—
FY2026E3 Analysts
Mean Estimate
₹1.76
Low:—
High:—
FY2026E4 Analysts
Mean Estimate
₹2.16
Low:—
High:—
FY2026E5 Analysts
Mean Estimate
₹3.04
Low:—
High:—
FY2026E4 Analysts
Mean Estimate
₹1.33
Low:—
High:—
FY2027E3 Analysts
Mean Estimate
₹1.44
Low:—
High:—
FY2027E3 Analysts
Mean Estimate
₹3.58
Low:₹3.00
High:₹3.00
FY2027E3 Analysts
Mean Estimate
₹2.42
Low:₹2.00
High:₹2.00
FY2027E3 Analysts
Mean Estimate
₹1.84
Low:₹1.00
High:₹1.00
FY2028E1 Analysts
Mean Estimate
₹2.78
Low:₹2.00
High:₹2.00
FY2028E1 Analysts
Mean Estimate
₹2.22
Low:₹2.00
High:₹2.00
FY2028E1 Analysts
Mean Estimate
₹1.65
Low:₹1.00
High:₹1.00
FY2028E1 Analysts
Mean Estimate
₹3.85
Low:₹3.00
High:₹3.00
| Period / Fiscal Year | Consensus Mean | Bull Case (High) | Bear Case (Low) | Brokers |
|---|---|---|---|---|
| FY2024 Forecast | ₹1.08 | — | — | — |
| FY2024 Forecast | ₹0.74 | — | — | — |
| FY2024 Forecast | ₹1.17 | — | — | — |
| FY2024 Forecast | ₹2.46 | — | — | — |
| FY2025 Forecast | ₹1.79 | — | — | 3 |
| FY2025 Forecast | ₹1.50 | — | — | 3 |
| FY2025 Forecast | ₹2.91 | — | — | 5 |
| FY2025 Forecast | ₹1.08 | — | — | — |
| FY2026 Forecast | ₹1.76 | — | — | 3 |
| FY2026 Forecast | ₹2.16 | — | — | 4 |
| FY2026 Forecast | ₹3.04 | — | — | 5 |
| FY2026 Forecast | ₹1.33 | — | — | 4 |
| FY2027 Forecast | ₹1.44 | — | — | 3 |
| FY2027 Forecast | ₹3.58 | ₹3.00 | ₹3.00 | 3 |
| FY2027 Forecast | ₹2.42 | ₹2.00 | ₹2.00 | 3 |
| FY2027 Forecast | ₹1.84 | ₹1.00 | ₹1.00 | 3 |
| FY2028 Forecast | ₹2.78 | ₹2.00 | ₹2.00 | 1 |
| FY2028 Forecast | ₹2.22 | ₹2.00 | ₹2.00 | 1 |
| FY2028 Forecast | ₹1.65 | ₹1.00 | ₹1.00 | 1 |
| FY2028 Forecast | ₹3.85 | ₹3.00 | ₹3.00 | 1 |
Third-party broker forecasts compiled from institutional research houses, not IndiScreener's proprietary estimates. Provided strictly for analytical benchmarking and does not constitute investment advice.
Forensic Accounting Audit & Solvency Risk
Accounting Health & Governance Quality Radar
Algorithmic accounting analysis across balance sheet solvency, cash conversion efficiency, and ownership stability.
Clean Governance & Solvency
Financial Strengths & Catalysts
6 Factors- •Company has delivered a high Return on Equity (ROE) of 25.3%.
- •Company is virtually debt-free with a Debt-to-Equity ratio of 0.00x.
- •Company has demonstrated healthy revenue growth of 15.9% CAGR over 3 years.
- •Net profit has grown at an impressive 26.6% CAGR over 3 years.
- •High promoter holding of 51.1% with zero encumbrance / pledge.
- •High institutional backing: FIIs & DIIs hold a combined 33.0%.
Risk Factors & Watchouts
1 Watchout- •Cash conversion lag: Operating Cash Flow is below 50% of reported Net Profit.
Forensic Accounting & Health Audit
Piotroski F-Score, Altman Z-Score Distress Model & Beneish Earnings Manipulation Checks
Piotroski F-Score8 / 9
● Strong (High Quality)
Altman Z-Score6.87
● Safe Zone
Negligible risk of financial distress over the next 2 years.
Beneish M-Score-1.99
● Low Risk (Clean Accounting)
Cash flows closely match reported earnings with conservative accruals.
Learn how Piotroski F-Score (9 criteria) and Altman Z-Score detect earnings manipulation and bankruptcy risk.Read Forensic Guide →
10-Year Financial Statements & DuPont ROE
Financial Statements
consolidated · amounts in ₹ Crores
Accounting Flow:
Wall Street Cash Flow & Free Cash Flow (FCF) Cascade
FY26 (2025-2026)3-Stage institutional flow from reported earnings to owner Free Cash Flow and capital allocation
FCF Conversion Rate (FCF / PAT)
9.2%Low Cash Conversion
Measures how much reported accounting profit turns into real liquid cash.
Free Cash Flow Margin
2.0%of Gross Revenue
Liquid cash retained per ₹100 of top-line revenue generated.
CapEx Reinvestment Rate
63.9%of Operating Cash
Portion of operating cash reinvested in future capacity and maintenance.
Reported Net Profit (PAT)₹6,062 CrInflow
6,062
+ D&A Non-Cash Charge₹556 CrAdd-back
556
Working Capital Adjustment-₹5,076 Cr- Tied Up
5,076
= Operating Cash Flow (CFO)₹1,541 CrOperating Cash
1,541
- Capital Expenditures (CapEx)-₹985 CrReinvestment
985
= Free Cash Flow (FCF)₹556 CrFree Cash Flow
556
- Dividends & Debt Repayment-₹1,334 CrCapital Return
1,334
= Net Change in Cash-₹778 CrNet Balance
778
Multi-Year Historical FCF vs Reported PAT Trajectory:
Free Cash Flow (FCF) Reported Net Profit (PAT)
| Metric | 2014-201531 Mar 2015 | 2015-201631 Mar 2016 | 2016-201731 Mar 2017 | 2017-201831 Mar 2018 | 2018-201931 Mar 2019 | 2019-202031 Mar 2020 | 2020-202131 Mar 2021 | 2021-202231 Mar 2022 | 2022-202331 Mar 2023 | 2023-202431 Mar 2024 | 2024-202531 Mar 2025 | 2025-202631 Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | ₹12,164.17 | ₹12,967.67 | ₹14,108.69 | ₹15,368.18 | ₹17,734.44 | ₹20,268.24 | ₹23,768.75 | ₹27,610.11 |
| Operating profit | — | — | — | — | ₹2,569.33 | ₹2,402.32 | ₹2,824.69 | ₹2,941.21 | ₹3,659.00 | ₹4,604.72 | ₹6,368.14 | ₹7,495.55 |
| OPM | — | — | — | — | 21.12% | 18.53% | 20.02% | 19.14% | 20.63% | 22.72% | 26.79% | 27.15% |
| Net profit | — | — | — | — | ₹1,886.40 | ₹1,823.85 | ₹2,098.94 | ₹2,398.87 | ₹2,984.42 | ₹3,984.52 | ₹5,321.44 | ₹6,062.00 |
| EPS | — | — | — | — | 2.60 | 2.49 | 2.87 | 3.28 | 4.11 | 5.54 | 7.28 | 8.29 |
| Net margin | — | — | — | — | 15.51% | 14.06% | 14.88% | 15.61% | 16.83% | 19.66% | 22.39% | 21.96% |
| ROE | — | — | — | — | 20.48% | 18.11% | 18.98% | 19.53% | 21.53% | 24.41% | 26.64% | 25.27% |
| ROCE | 20.00% | 20.00% | 23.00% | 25.00% | 24.77% | 20.92% | 22.31% | 20.53% | 24.52% | 26.31% | 30.21% | 29.65% |
| Debt / equity | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Compounded growth (CAGR)
| Metric | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|
| Revenue | 16.16% | 15.90% | 14.37% | — |
| Net profit | 13.92% | 26.64% | 23.63% | — |
| EPS | 13.87% | 26.35% | 23.63% | — |
Each column only appears when 12 real reported years actually support it — never extrapolated from fewer.
Balance sheet
| Metric | 2014-2015 | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | — | — | — | — | ₹20,820.58 | ₹24,348.31 | ₹29,489.67 | ₹33,910.58 | ₹35,491.17 | ₹39,526.68 | ₹40,831.86 | ₹44,537.52 |
| Total liabilities | — | — | — | — | ₹11,609.08 | ₹14,276.78 | ₹18,430.09 | ₹21,624.65 | ₹21,629.54 | ₹23,200.21 | ₹20,857.97 | ₹20,549.21 |
| Total equity | — | — | — | — | ₹9,211.50 | ₹10,071.53 | ₹11,059.58 | ₹12,285.93 | ₹13,861.63 | ₹16,326.47 | ₹19,973.89 | ₹23,988.31 |
| Total debt | — | — | — | — | ₹33.34 | ₹11.30 | ₹2.52 | ₹52.70 | ₹61.34 | ₹62.51 | ₹61.23 | ₹65.46 |
| Cash | — | — | — | — | ₹582.86 | ₹362.56 | ₹515.12 | ₹411.83 | ₹841.74 | ₹591.52 | ₹484.74 | ₹436.74 |
| Current assets | — | — | — | — | ₹15,874.44 | ₹18,738.09 | ₹23,713.31 | ₹27,293.71 | ₹30,047.74 | ₹34,062.98 | ₹34,857.88 | ₹38,056.87 |
| Current liabilities | — | — | — | — | ₹10,448.75 | ₹12,865.72 | ₹16,829.55 | ₹19,581.04 | ₹20,565.78 | ₹22,026.73 | ₹19,752.54 | ₹19,259.75 |
| Inventory | — | — | — | — | ₹5,936.96 | ₹5,328.97 | ₹6,632.05 | ₹7,005.80 | ₹7,476.04 | ₹8,584.19 | ₹10,124.56 | ₹11,195.47 |
| Receivables | — | — | — | — | ₹8,260.31 | ₹10,998.69 | ₹11,385.86 | ₹11,985.03 | ₹13,350.77 | ₹13,185.59 | ₹13,971.93 | ₹16,982.44 |
| Payables | — | — | — | — | ₹1,434.05 | ₹2,450.13 | ₹3,298.90 | ₹3,369.30 | ₹3,330.38 | ₹3,706.31 | ₹3,338.77 | ₹3,583.40 |
| Net PP&E | — | — | — | — | ₹2,461.63 | ₹2,814.48 | ₹2,882.97 | ₹2,955.30 | ₹3,055.54 | ₹3,244.89 | ₹3,681.51 | ₹3,967.09 |
| Retained earnings | — | — | — | — | ₹9,122.44 | ₹10,023.51 | ₹11,099.08 | ₹12,474.61 | ₹13,729.03 | ₹16,251.61 | ₹19,891.83 | ₹23,870.55 |
Cash flow
| Metric | 2014-2015 | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | — | — | — | — | ₹1,513.88 | ₹2,570.41 | ₹5,093.22 | ₹4,207.22 | ₹1,199.26 | ₹4,659.49 | ₹564.27 | ₹1,541.37 |
| Capital expenditure | — | — | — | — | ₹-729.22 | ₹-746.58 | ₹-469.25 | ₹-554.56 | ₹-590.45 | ₹-652.53 | ₹-1,011.28 | ₹-985.36 |
| Free cash flow | — | — | — | — | ₹784.66 | ₹1,823.83 | ₹4,623.97 | ₹3,652.66 | ₹608.81 | ₹4,006.96 | ₹-447.01 | ₹556.01 |
| OCF / net profit | — | — | — | — | 0.80 | 1.41 | 2.43 | 1.75 | 0.40 | 1.17 | 0.11 | 0.25 |
| FCF / Capex intensity | — | — | — | — | 5.99 | 5.76 | 3.33 | 3.61 | 3.33 | 3.22 | 4.25 | 3.57 |
Income statement detail
| Metric | 2014-2015 | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit | — | — | — | — | ₹6,163.95 | ₹5,823.53 | ₹6,069.81 | ₹6,414.43 | ₹7,849.60 | ₹9,631.43 | ₹11,517.95 | ₹13,513.64 |
| Cost of revenue | — | — | — | — | ₹6,000.22 | ₹7,144.14 | ₹8,038.88 | ₹8,953.75 | ₹9,884.84 | ₹10,636.81 | ₹12,250.80 | ₹14,096.47 |
| EBITDA | — | — | — | — | ₹2,907.45 | ₹2,774.17 | ₹3,212.00 | ₹3,342.33 | ₹4,087.81 | ₹5,047.92 | ₹6,835.52 | ₹8,051.22 |
| Income before tax | — | — | — | — | ₹2,628.34 | ₹2,478.40 | ₹2,941.78 | ₹3,166.24 | ₹3,922.91 | ₹5,266.21 | ₹7,099.00 | ₹8,052.96 |
| Interest expense | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax expense | — | — | — | — | ₹780.31 | ₹685.77 | ₹872.44 | ₹811.78 | ₹982.56 | ₹1,323.10 | ₹1,811.85 | ₹2,029.49 |
| D&A | — | — | — | — | ₹338.12 | ₹371.85 | ₹387.31 | ₹401.12 | ₹428.81 | ₹443.20 | ₹467.38 | ₹555.67 |
| EBITDA margin | — | — | — | — | 23.90% | 21.39% | 22.77% | 21.75% | 23.05% | 24.91% | 28.76% | 29.16% |
Financial ratios
| Metric | 2014-2015 | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | — | — | — | — | 1.52 | 1.46 | 1.41 | 1.39 | 1.46 | 1.55 | 1.76 | 1.98 |
| Quick ratio | — | — | — | — | 0.95 | 1.04 | 1.02 | 1.04 | 1.10 | 1.16 | 1.25 | 1.39 |
| Interest coverage | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory days | 321.00 | 401.00 | 407.00 | 305.00 | 361.15 | 272.26 | 301.12 | 285.59 | 276.05 | 294.56 | 301.65 | 289.88 |
| Receivable days | 196.00 | 185.00 | 184.00 | 176.00 | 247.86 | 309.58 | 294.56 | 284.65 | 274.78 | 237.45 | 214.56 | 224.50 |
| Payable days | 111.00 | 112.00 | 108.00 | 91.00 | 87.23 | 125.18 | 149.78 | 137.35 | 122.98 | 127.18 | 99.48 | 92.79 |
| Cash conversion cycle | 406.00 | 473.00 | 483.00 | 390.00 | 521.78 | 456.66 | 445.90 | 432.89 | 427.86 | 404.84 | 416.73 | 421.60 |
| Working capital days | 52.00 | 8.00 | 63.00 | 125.00 | 30.00 | 30.00 | 30.00 | 30.00 | 30.00 | 30.00 | 30.00 | 30.00 |
| Fixed asset turnover | — | — | — | — | 4.94 | 4.61 | 4.89 | 5.20 | 5.80 | 6.25 | 6.46 | 6.96 |
| ROA | — | — | — | — | 9.06% | 7.49% | 7.12% | 7.07% | 8.41% | 10.08% | 13.03% | 13.61% |
| ROIC | — | — | — | — | 20.86% | 17.88% | 18.84% | 18.34% | 20.97% | 21.83% | 24.26% | 23.74% |
| Gross margin | — | — | — | — | 50.67% | 44.91% | 43.02% | 41.74% | 44.26% | 47.52% | 48.46% | 48.94% |
DuPont 3-Stage ROE Factor Decomposition
Deconstructing Return on Equity into Profitability, Asset Efficiency, and Financial Leverage
High Quality Moat (Margin Driven, Low Debt Risk)FY2025-2026
Net marginProfitability
21.96%
Net Profit generated per ₹100 of revenue (Profitability)
×
Asset turnoverEfficiency
0.62
Revenue generated per ₹1 of total assets (Capital Efficiency)
×
Equity multiplierLeverage
1.86
Total assets supported per ₹1 of shareholder equity (Leverage)
=
Implied DuPont ROEFinal Output
25.27%
Reported: 25.27%
Explore the 3-Stage DuPont Formula: Net Margin × Asset Turnover × Leverage Multiplier.Read DuPont Guide →
Corporate Actions, Dividends & Capital Changes
Chronological Corporate Actions Registry
Historical stock splits, bonus shares, rights issues, and corporate schemes
| Year | Execution Date | Action Type | Ratio / Term |
|---|---|---|---|
| 2026 | 13 Aug 2026 | dividend | 55% |
| 2025 | 14 Aug 2025 | dividend | 90% |
| 11 Mar 2025 | dividend | 150% | |
| 2024 | 16 Aug 2024 | dividend | 80% |
| 23 Mar 2024 | dividend | 70% | |
| 10 Feb 2024 | dividend | 70% | |
| 2023 | 18 Aug 2023 | dividend | 60% |
| 25 Mar 2023 | dividend | 60% | |
| 10 Feb 2023 | dividend | 60% | |
| 2022 | 16 Sept 2022 | bonus | 2:1 |
| 11 Aug 2022 | dividend | 150% | |
| 26 Mar 2022 | dividend | 150% | |
| 10 Feb 2022 | dividend | 150% | |
| 2021 | 16 Sept 2021 | dividend | 120% |
| 24 Mar 2021 | dividend | 140% | |
| 09 Feb 2021 | dividend | 140% | |
| 2020 | 17 Sept 2020 | dividend | 140% |
| 12 Feb 2020 | dividend | 140% | |
| 2019 | 22 Aug 2019 | dividend | 170% |
| 28 Mar 2019 | dividend | 70% | |
| 20 Mar 2019 | dividend | 70% | |
| 11 Feb 2019 | dividend | 30% | |
| 2018 | 22 Aug 2018 | dividend | 40% |
| 09 Feb 2018 | dividend | 160% | |
| 2017 | 29 Sept 2017 | bonus | 1:10 |
| 17 Aug 2017 | dividend | 105% | |
| 30 Mar 2017 | dividend | 90% | |
| 17 Mar 2017 | split | 1:10 | |
| 04 Feb 2017 | dividend | 30% | |
| 2016 | 22 Aug 2016 | dividend | 145% |
| 05 Feb 2016 | dividend | 25% | |
| 2015 | 15 Sept 2015 | bonus | 2:1 |
| 12 Aug 2015 | dividend | 232% | |
| 29 Jan 2015 | dividend | 60% | |
| 2014 | 16 Sept 2014 | dividend | 173% |
| 30 Jan 2014 | dividend | 60% | |
| 2013 | 11 Sept 2013 | dividend | 163% |
| 31 Jan 2013 | dividend | 60% | |
| 2012 | 11 Sept 2012 | dividend | 108% |
| 02 Feb 2012 | dividend | 100% | |
| 2011 | 15 Sept 2011 | dividend | 156% |
| 03 Feb 2011 | dividend | 60% | |
| 2010 | 15 Sept 2010 | dividend | 132% |
| 04 Feb 2010 | dividend | 60% | |
| 2009 | 16 Sept 2009 | dividend | 127% |
| 29 Jan 2009 | dividend | 60% | |
| 2008 | 16 Sept 2008 | dividend | 147% |
| 31 Jan 2008 | dividend | 60% | |
| 2007 | 11 Sept 2007 | dividend | 140% |
| 29 Jan 2007 | dividend | 40% | |
| 2006 | 05 Sept 2006 | dividend | 106% |
Dividend Intelligence & Capital Return History
Historical cash payout track record across 15 dividend distributions
Latest Year DPS:₹2.50
Yield on CMP:0.61%
3Y Dividend CAGR:+11.6%
Annual Dividend Payout Progression (Per Share)Total Cumulative DPS: ₹15.90
₹2.5
2026
₹2.4
2025
₹2.2
2024
₹1.8
2023
₹3.0
2022
₹4.0
2021
| Ex-Date | Amount (Per Share) | Dividend Type |
|---|---|---|
| 13 Aug 2026 | ₹0.55 | Final |
| 06 Mar 2026 | ₹1.95 | Interim |
| 14 Aug 2025 | ₹0.90 | Final |
| 11 Mar 2025 | ₹1.50 | Interim |
| 14 Aug 2024 | ₹0.80 | Final |
| 22 Mar 2024 | ₹0.70 | Interim |
| 09 Feb 2024 | ₹0.70 | Interim |
| 17 Aug 2023 | ₹0.60 | Final |
| 24 Mar 2023 | ₹0.60 | Interim |
| 10 Feb 2023 | ₹0.60 | Interim |
| 24 Mar 2022 | ₹1.50 | Interim |
| 09 Feb 2022 | ₹1.50 | Interim |
| 14 Sept 2021 | ₹1.20 | Final |
| 23 Mar 2021 | ₹1.40 | Interim |
| 08 Feb 2021 | ₹1.40 | Interim |
Industry Peer Group & Valuation Spread
Compare valuation multiples and market cap relative to sector competitors
Capital GoodsCompare Peers in Studio
Market Cap3,02,624.85 ₹ cr
Beats 99% of 112 industry peers · median 16,628.39 ₹ cr
P/E49.69 x
Beats 46% of 101 industry peers · median 53.63 x
P/B12.55 x
Beats 78% of 103 industry peers · median 7.25 x
ROE7.02%
Beats 27% of 111 industry peers · median 12.73%
ROCE7.12%
Beats 18% of 111 industry peers · median 14.81%
Debt to Equity0.60 x
Beats 90% of 111 industry peers · median 0.31 x
Net Margin6.52%
Beats 20% of 111 industry peers · median 8.85%
Dividend Yield0.61%
Beats 60% of 86 industry peers · median 0.42%
Revenue Growth (YoY)24.94%
Beats 55% of 110 industry peers · median 21.65%
| Company | Market Cap ▼ | P/E | P/B |
|---|---|---|---|
| ₹3.22 L | 35.66 | 7.92 | |
Tata Motors Ltd.TMCV | ₹1.73 L | 56.69 | 13.48 |
| ₹1.57 L | 95.32 | 20.31 | |
| ₹1.51 L | 93.75 | 5.74 | |
Hitachi Energy India Ltd.POWERINDIA | ₹1.49 L | 152.87 | 29.18 |
Peers are chosen strictly by industry classification. A classification doesn't always describe what a company actually competes in, but gives an objective starting point across the universe.
Regulatory Filings & Market Intelligence
Corporate Filings & Document Vault
SEBI LODR VerifiedAudited Annual Reports, Investor Decks, Earnings Concall Transcripts, and Board Resolutions for Bharat Electronics Ltd. (BEL)
Indexed Documents7 Filings
Latest Disclosure23 Jul 2026
AGM / EGM23 Jul 2026
Bharat Electronics Ltd: Notice of Annual General Meeting and Record Date for Dividend
Press Release17 Jul 2026
Bharat Electronics Ltd: Press Release: Business Updates and New Strategic Initiatives
Secretarial Filing06 Jul 2026
Bharat Electronics Ltd: Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015
Investor Deck02 Apr 2026
Bharat Electronics Ltd: Investor Presentation on Q4 Financial Results and Growth Outlook
Shareholding05 Mar 2026
Bharat Electronics Ltd: Quarterly Statement of Shareholding Pattern filed with NSE/BSE
Corporate Action03 Mar 2026
Bharat Electronics Ltd: Recommendation of Final Dividend for the Financial Year 2025-26
News
- IndianAPIBharat Electronics shares to be in focus on Thursday as company secures ₹730 crore order
Bharat Electronics (BEL) announced new orders worth ₹730 crore, enhancing investor interest. Following an 8% rebound in August, BEL's stock price has countered previous declines.
- IndianAPIStock market today: Gift Nifty hints a muted start; eight day trading stocks to buy on Friday, 14 August
Indian stock market indices, Sensex and Nifty 50, are expected to open lower on August 14. Global cues remain mixed, with domestic equities ending mixed the previous day. Oil prices rise amid US-Iran tensions, and upcoming economic data will be closely monitored.
- IndianAPIStock market today: Gift Nifty hints a weak start; eight day trading stocks to buy on Tuesday, 11 August
Indian stock markets are set to open weak due to rising Brent crude prices affecting investor sentiment. The Gift Nifty indicates a negative start, while concerns over US-Iran negotiations add to market volatility and cautious trading in equities persists.
- IndianAPIStock market today: Gift Nifty hints a weak start; eight day trading stocks to buy on Tuesday, 11 August
Indian stock markets are set to open weak due to rising Brent crude prices affecting investor sentiment. The Gift Nifty indicates a negative start, while concerns over US-Iran negotiations add to market volatility and cautious trading in equities persists.
- IndianAPIStocks to watch: RVNL, Wipro, Vodafone Idea among shares in focus today; check list here
Stock market today: Gift Nifty was trading near the 24,616.5 mark, down over 43 points from the previous close of Nifty futures.
- IndianAPIStocks to watch: RVNL, Wipro, Vodafone Idea among shares in focus today; check list here
Stock market today: Gift Nifty was trading near the 24,616.5 mark, down over 43 points from the previous close of Nifty futures.
- IndianAPIStock market today: Gift Nifty hints a gap-down start; eight day trading stocks to buy on Friday, 7 August
Indian stock market indices Sensex and Nifty 50 are expected to open lower on 7 August due to rising crude oil prices and Middle East tensions. Brent crude has surged, raising concerns over energy supplies and inflation. The Gift Nifty suggests a cautious start for domestic equities.
- IndianAPIStock market today: Gift Nifty hints a gap-down start; eight day trading stocks to buy on Friday, 7 August
Indian stock market indices Sensex and Nifty 50 are expected to open lower on 7 August due to rising crude oil prices and Middle East tensions. Brent crude has surged, raising concerns over energy supplies and inflation. The Gift Nifty suggests a cautious start for domestic equities.
- IndianAPIClosing Auction Session debuts successfully; BSE, NSE report strong participation
Indian stock markets implemented an auction-based closing price mechanism on Monday, enhancing price discovery. The BSE reported strong participation from over 400 trading members, while the NSE noted 515 members engaged, despite a spike in indices being labeled an aberration.
- IndianAPIClosing Auction Session debuts successfully; BSE, NSE report strong participation
Indian stock markets implemented an auction-based closing price mechanism on Monday, enhancing price discovery. The BSE reported strong participation from over 400 trading members, while the NSE noted 515 members engaged, despite a spike in indices being labeled an aberration.
- IndianAPIPassive funds go niche: should you bet on sectoral or thematic funds?
Passive investing has moved beyond broad-market indices. As sectoral and thematic index funds multiply, experts explain the opportunities, risks and who should actually invest.
- IndianAPIPassive funds go niche: should you bet on sectoral or thematic funds?
Passive investing has moved beyond broad-market indices. As sectoral and thematic index funds multiply, experts explain the opportunities, risks and who should actually invest.
- IndianAPIBharat Electronics shares to be in focus on Monday as company secures ₹847 crore order
Bharat Electronics Ltd. (BEL) announced a new order worth ₹847 crore, prompting investor interest. This follows a previous ₹572 crore order in July and a significant ₹1,081 crore order in June. Despite recent orders, BEL shares faced a decline in 2026.
- IndianAPIBharat Electronics shares to be in focus on Monday as company secures ₹847 crore order
Bharat Electronics Ltd. (BEL) announced a new order worth ₹847 crore, prompting investor interest. This follows a previous ₹572 crore order in July and a significant ₹1,081 crore order in June. Despite recent orders, BEL shares faced a decline in 2026.
- IndianAPIStock recommendations for 30 July from MarketSmith India
MarketSmith India reveals its top stock recommendations for today, 30 July. Get expert insights into the best-performing stocks to guide your investment decisions.
- IndianAPIStock recommendations for 30 July from MarketSmith India
MarketSmith India reveals its top stock recommendations for today, 30 July. Get expert insights into the best-performing stocks to guide your investment decisions.
- IndianAPIStock market today: Sensex drops 70 points, Nifty 50 ends at 23,985; IT stocks shine
The Sensex closed 70 points, or 0.09%, lower at 76,765.92, while the Nifty 50 ended at 23,985.35, down 11 points, or 0.04%.
- IndianAPIStock market today: Sensex drops 70 points, Nifty 50 ends at 23,985; IT stocks shine
The Sensex closed 70 points, or 0.09%, lower at 76,765.92, while the Nifty 50 ended at 23,985.35, down 11 points, or 0.04%.
- IndianAPIBharat Electronics Q1 sends mixed signals; prospects intact
Bharat Electronics must sustain the strong execution momentum, and protect its margins to justify its rich share valuation.
- IndianAPIBharat Electronics Q1 sends mixed signals; prospects intact
Bharat Electronics must sustain the strong execution momentum, and protect its margins to justify its rich share valuation.
For informational and educational purposes only. Not investment advice. Data may be delayed or incomplete. Consult a SEBI-registered investment adviser before making investment decisions.