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Bharat Electronics Ltd

BEL

NSE

₹365.00-1.67%22 Oct 2026 at 10:11 AM

Reports

Aerospace and Defence Equipment

Bharat Electronics Ltd

BEL

NSE

₹365.00

-1.67%

22 Oct 2026 at 10:11 AM

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Aerospace and Defence Equipment

Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.Guidance Report: Management guidance vs outcomes.Forensic Report: Accounting quality and red flags.Deep Dive Report: In-depth business analysis.

Bharat Electronics Limited is India’s defence-electronics backbone - a state-owned company that designs, builds and supports the radars, missile systems, electronic-warfare suites and communication networks that equip the country’s Army, Navy and Air Force. Founded in 1954 under the Ministry of Defence and headquartered in Bengaluru, it was created to give India strategic self-reliance in military electronics, and that mission still defines it: 94% of its turnover comes from defence, and three-quarters of that comes from products developed inside India. The recurring approach is to partner with DRDO and global OEMs to productionise advanced technology, then sustain it through a nationwide network of support centres - a model that turns one-time system orders into decades of service revenue.

Business segments

One dominant engine - defence electronics and systems - supported by a small civilian-electronics sideline and a growing export channel, all fed by the same R&D and manufacturing backbone.

1. Defence electronics and systems: the arsenal that equips India’s forces

BEL is the default supplier of mission-critical electronic systems to the Indian armed forces, from the radars that watch the border to the electronic-warfare suites that protect fighter jets and warships.

Radars, missiles and fire control - the company makes the Akash and QRSAM surface-to-air missile systems, the LRSAM system, and a family of radars that includes the Aslesha, Ashwini, Weapon Locating Radar and 3D Surveillance Radar, so it provides both the eyes and the fist of India’s air defence.
Electronic warfare and avionics - it builds systems that detect, jam or deceive enemy sensors, plus the avionics and electro-optics that go into platforms like the LCA fighter; for naval ships and submarines, electronics typically account for 25-30% of the total platform value.
Communication and network-centric systems - its SATCOM networks, software-defined radios and C4I (command, control, communications, computers and intelligence) systems tie the three services together, and a dedicated Network & Cyber Security SBU now protects those links.
Newer bets: seekers, ammunition and unmanned systems - four new SBUs formed in FY24 cover Seekers & Missiles, Arms & Ammunition, Network & Cyber Security and Unmanned Systems; BEL is already DRDO’s largest production partner for missile seekers and has delivered electronic fuses and anti-drone systems.
Service revenue that grows with the installed base - beyond the one-time project revenue, BEL earns recurring income from spares, repairs and annual maintenance contracts, and it deploys roughly 300 service engineers across 13 regional product-support centres and seven waterfront support centres to keep critical systems operational.

2. Non-defence and civilian electronics: defence technology repurposed for the civilian state

BEL takes the technologies it masters for the military - secure communication, sensors, power electronics - and applies them to elections, smart cities, railways, space and healthcare.

The voting machine franchise - it manufactures Electronic Voting Machines (EVMs) and Voter Verifiable Paper Audit Trail (VVPAT) units, making it the electoral infrastructure provider for the world’s largest democracy.
Smart cities and homeland security - it has executed the Delhi CCTV project and a ₹456-crore comprehensive security solution for ONGC, and its ‘e-chhawani’ portal delivers municipal services to over 20 lakh citizens across 62 Cantonment Boards.
Railways and metros - together with Delhi Metro, BEL developed India’s first indigenous Automatic Train Supervision system (i-ATS), already running on the Red Line, and is now co-developing an Indigenous Communication-Based Train Control system (i-CBTC) that will enable driverless metro operations.
Space and solar - it is an ISRO-qualified partner for satellite assembly, integration and testing, has built three RISAT satellites, and runs a plant capable of producing about 60,000 multi-junction solar cells a year for space applications; on the ground, it has signed an MoU with NHPC to set up a gigawatt-scale vertically integrated solar manufacturing unit.
Medical and energy storage - during Covid-19, BEL manufactured and delivered 30,000 ICU-grade ventilators; it now has a Li-ion battery integration and testing facility in Pune and an MoU with Triton Electric Vehicle for hydrogen fuel-cell manufacture.

3. Exports and international business: the global supply-chain window

BEL sells radars, warning receivers, communication gear and sub-assemblies to foreign militaries and OEMs, using offset obligations and government-to-government channels to open doors.

OEM supply chain insertion - the company is a contracted supplier to Thales, SAAB and Elbit Systems, and its largest single export order, worth USD 93.15 million, came from Airbus Defence and Space for radar warning receivers and missile approach warning systems on the C295 aircraft programme.
Government-backed reach - it coordinates with the Ministry of External Affairs and Ministry of Defence to supply products under Lines of Credit and grants to friendly countries, and maintains overseas marketing offices in New York, Muscat, Colombo and ASEAN Countries.
Diversifying the export basket - beyond defence, BEL signed a USD 73 million contract with a US firm to develop and supply IoT devices, with a provision for up to USD 365 million in upgrades over five years, showing that its electronics manufacturing capability can cross over into commercial markets.

Research, development and technology backbone

A three-tier R&D engine - blue-sky labs, product-engineering centres and embedded SBU development groups - turns 6-7% of annual revenue into a pipeline of indigenised products and 288 granted patents.

Central Research Labs - two CRLs in Bengaluru and Ghaziabad pursue applied and blue-sky research, feeding the technology pipeline.
Product Development and Innovation Centre and Centres of Excellence - one PDIC and three CoEs (Radar & Weapon Systems, Electronic Warfare & Photonics, Military Communication Systems) engineer core technology modules into field-ready products.
Embedded D&E groups - every SBU and unit has its own Development & Engineering team that handles customer liaison and product customisation, so development stays close to the end user.
Collaborative R&D at scale - 346 empanelled partners, including IIT Madras for quantum science, DRDO labs for laser fuzes and digital radar warning receivers, and start-ups for AI in air defence, multiply the internal effort of 2,698 R&D staff.

Group structure and partners

BEL operates through one wholly-owned subsidiary, two joint ventures and a web of strategic MoUs that lock in technology access and market reach.

BEL Optronic Devices Limited - a wholly-owned subsidiary that manufactures Image Intensifier Tubes, a critical night-vision component.
BEL-THALES Systems Limited - a 74% subsidiary stake held by BEL, formed with Thales France that designs and supplies civilian and defence radars, including a co-developed Multi-Target Tracking Radar with Thales Netherlands.
GE BE Private Limited - a 26% associate that manufactures CT Max and other X-Ray tubes, giving BEL a foothold in medical imaging components.
Platform partnerships - MoUs with ADA for the Advanced Medium Combat Aircraft programme, with Goa Shipyard for autonomous boats, and with Israel Aerospace Industries for domestic manufacture of the LORA weapon system, position BEL as the prime contractor on next-generation platforms.

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

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Ratios

Peer Comparison

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Mkt Cap

Market Capitalization

₹2,66,551Cr

Close Price

₹364.65

Industry

Aerospace and Defence Equipment

Price To Earnings

43.41

Price To Sales

9.28

Revenue

₹28,717Cr

Rev Gr TTM

Revenue Growth TTM

19.83%

PAT Gr TTM

PAT Growth TTM

11.70%

Upcoming Results on

30 Oct 2026

Consolidated

Standalone

Numbers

Percentage

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	4,009	4,162	8,564	4,244	4,605	5,771	9,150	4,440	5,792	7,154	10,224	5,547
Growth YoY Revenue Growth YoY%	1.2	0.2	32.2	20.1	14.9	38.6	6.8	4.6	25.8	24.0	11.8	24.9
Expenses ExpensesCr	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 Operating ProfitCr	1,014	1,073	2,287	948	1,400	1,669	2,816	1,238	1,702	2,127	2,982	1,388
OPM OPM%	25.3	25.8	26.7	22.3	30.4	28.9	30.8	27.9	29.4	29.7	29.2	25.0
Other Income Other IncomeCr	137	167	225	204	158	186	195	163	154	139	110	170
Interest Expense Interest ExpenseCr	2	1	4	1	1	1	6	1	2	2	2	1
Depreciation DepreciationCr	108	107	119	108	111	111	138	121	126	135	173	161
PBT PBTCr	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 TaxCr	261	284	604	262	361	442	746	319	450	558	703	352
PAT PATCr	781	848	1,786	781	1,084	1,301	2,121	961	1,278	1,570	2,214	1,044
Growth YoY PAT Growth YoY%	27.0	40.6	30.7	47.8	38.8	53.4	18.8	23.0	17.9	20.7	4.4	8.7
NPM NPM%	19.5	20.4	20.9	18.4	23.5	22.6	23.2	21.6	22.1	21.9	21.7	18.8
EPS EPS₹	1.1	1.2	2.5	1.1	1.5	1.8	2.9	1.3	1.8	2.2	3.0	1.4

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	4,009	4,162	8,564	4,244	4,605	5,771	9,150	4,440	5,792	7,154	10,224	5,547
Growth YoY Revenue Growth YoY%	1.2	0.2	32.2	20.1	14.9	38.6	6.8	4.6	25.8	24.0	11.8	24.9
Expenses ExpensesCr	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 Operating ProfitCr	1,014	1,073	2,287	948	1,400	1,669	2,816	1,238	1,702	2,127	2,982	1,388
OPM OPM%	25.3	25.8	26.7	22.3	30.4	28.9	30.8	27.9	29.4	29.7	29.2	25.0
Other Income Other IncomeCr	137	167	225	204	158	186	195	163	154	139	110	170
Interest Expense Interest ExpenseCr	2	1	4	1	1	1	6	1	2	2	2	1
Depreciation DepreciationCr	108	107	119	108	111	111	138	121	126	135	173	161
PBT PBTCr	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 TaxCr	261	284	604	262	361	442	746	319	450	558	703	352
PAT PATCr	781	848	1,786	781	1,084	1,301	2,121	961	1,278	1,570	2,214	1,044
Growth YoY PAT Growth YoY%	27.0	40.6	30.7	47.8	38.8	53.4	18.8	23.0	17.9	20.7	4.4	8.7
NPM NPM%	19.5	20.4	20.9	18.4	23.5	22.6	23.2	21.6	22.1	21.9	21.7	18.8
EPS EPS₹	1.1	1.2	2.5	1.1	1.5	1.8	2.9	1.3	1.8	2.2	3.0	1.4

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	7,354	8,656	10,401	12,164	12,968	14,109	15,368	17,734	20,268	23,769	27,610	28,717
Growth Revenue Growth%	3.7	17.7	20.1	16.9	6.6	8.8	8.9	15.4	14.3	17.3	16.2	19.8
Expenses ExpensesCr	5,964	6,869	8,366	9,258	10,213	10,898	12,027	13,649	15,222	16,935	19,561	20,518
Operating Profit Operating ProfitCr	1,389	1,787	2,035	2,906	2,754	3,211	3,341	4,086	5,046	6,834	8,049	8,199
OPM OPM%	18.9	20.6	19.6	23.9	21.2	22.8	21.7	23.0	24.9	28.8	29.1	28.6
Other Income Other IncomeCr	573	420	196	73	99	125	232	281	670	742	566	572
Interest Expense Interest ExpenseCr	6	13	2	13	4	6	5	15	7	10	7	6
Depreciation DepreciationCr	192	212	272	338	372	387	401	429	443	467	556	595
PBT PBTCr	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 TaxCr	427	486	550	780	686	872	812	983	1,323	1,812	2,029	2,063
PAT PATCr	1,337	1,497	1,407	1,848	1,793	2,069	2,354	2,940	3,943	5,287	6,023	6,107
Growth PAT Growth%	11.7	12.0	-6.0	31.3	-3.0	15.4	13.8	24.9	34.1	34.1	13.9	11.7
NPM NPM%	18.2	17.3	13.5	15.2	13.8	14.7	15.3	16.6	19.4	22.2	21.8	21.3
EPS EPS₹	1.8	1.8	1.9	2.6	2.5	2.9	3.3	4.1	5.5	7.3	8.3	8.4

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	7,354	8,656	10,401	12,164	12,968	14,109	15,368	17,734	20,268	23,769	27,610	28,717
Growth Revenue Growth%	3.7	17.7	20.1	16.9	6.6	8.8	8.9	15.4	14.3	17.3	16.2	19.8
Expenses ExpensesCr	5,964	6,869	8,366	9,258	10,213	10,898	12,027	13,649	15,222	16,935	19,561	20,518
Operating Profit Operating ProfitCr	1,389	1,787	2,035	2,906	2,754	3,211	3,341	4,086	5,046	6,834	8,049	8,199
OPM OPM%	18.9	20.6	19.6	23.9	21.2	22.8	21.7	23.0	24.9	28.8	29.1	28.6
Other Income Other IncomeCr	573	420	196	73	99	125	232	281	670	742	566	572
Interest Expense Interest ExpenseCr	6	13	2	13	4	6	5	15	7	10	7	6
Depreciation DepreciationCr	192	212	272	338	372	387	401	429	443	467	556	595
PBT PBTCr	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 TaxCr	427	486	550	780	686	872	812	983	1,323	1,812	2,029	2,063
PAT PATCr	1,337	1,497	1,407	1,848	1,793	2,069	2,354	2,940	3,943	5,287	6,023	6,107
Growth PAT Growth%	11.7	12.0	-6.0	31.3	-3.0	15.4	13.8	24.9	34.1	34.1	13.9	11.7
NPM NPM%	18.2	17.3	13.5	15.2	13.8	14.7	15.3	16.6	19.4	22.2	21.8	21.3
EPS EPS₹	1.8	1.8	1.9	2.6	2.5	2.9	3.3	4.1	5.5	7.3	8.3	8.4

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	240	223	244	244	244	244	244	731	731	731	731
Reserves ReservesCr	9,006	7,512	7,772	8,968	9,828	10,816	12,042	13,131	15,595	19,243	23,257
Current Liabilities Current LiabilitiesCr	8,451	8,751	9,896	10,449	12,866	16,830	19,581	20,566	22,027	19,753	19,260
Non Current Liabilities Non Current LiabilitiesCr	902	1,096	1,036	1,147	1,397	1,586	2,027	1,046	1,156	1,086	1,271
Total Liabilities Total LiabilitiesCr	18,604	17,596	18,961	20,821	24,348	29,490	33,911	35,491	39,527	40,832	44,538
Current Assets Current AssetsCr	15,833	14,067	14,305	15,874	18,738	23,713	27,294	30,048	34,063	34,858	38,057
Non Current Assets Non Current AssetsCr	2,772	3,530	4,656	4,946	5,610	5,776	6,617	5,443	5,464	5,974	6,481
Total Assets Total AssetsCr	18,604	17,596	18,961	20,821	24,348	29,490	33,911	35,491	39,527	40,832	44,538

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	240	223	244	244	244	244	244	731	731	731	731
Reserves ReservesCr	9,006	7,512	7,772	8,968	9,828	10,816	12,042	13,131	15,595	19,243	23,257
Current Liabilities Current LiabilitiesCr	8,451	8,751	9,896	10,449	12,866	16,830	19,581	20,566	22,027	19,753	19,260
Non Current Liabilities Non Current LiabilitiesCr	902	1,096	1,036	1,147	1,397	1,586	2,027	1,046	1,156	1,086	1,271
Total Liabilities Total LiabilitiesCr	18,604	17,596	18,961	20,821	24,348	29,490	33,911	35,491	39,527	40,832	44,538
Current Assets Current AssetsCr	15,833	14,067	14,305	15,874	18,738	23,713	27,294	30,048	34,063	34,858	38,057
Non Current Assets Non Current AssetsCr	2,772	3,530	4,656	4,946	5,610	5,776	6,617	5,443	5,464	5,974	6,481
Total Assets Total AssetsCr	18,604	17,596	18,961	20,821	24,348	29,490	33,911	35,491	39,527	40,832	44,538

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	2,260	-61	-687	1,546	2,570	5,093	4,207	1,199	4,659	564	1,541
Investing Cash Flow Investing Cash FlowCr	-1,470	3,115	-6	-928	-649	-2,595	-4,872	2,708	-5,924	639	1,730
Financing Cash Flow Financing Cash FlowCr	-318	-2,857	-1,202	-663	-1,061	-1,076	-1,078	-1,262	-1,475	-1,696	-2,097
Net Cash Flow Net Cash FlowCr	472	197	-1,895	-45	861	1,422	-1,742	2,645	-2,739	-493	1,175
Free Cash Flow Free Cash FlowCr	1,607	-853	-1,492	785	1,825	4,625	3,660	611	4,015	-444	560
CFO To PAT CFO To PAT%	169.1	-4.1	-48.8	83.7	143.4	246.1	178.7	40.8	118.2	10.7	25.6
CFO To EBITDA CFO To EBITDA%	162.7	-3.4	-33.7	53.2	93.3	158.6	125.9	29.4	92.3	8.3	19.1

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	2,260	-61	-687	1,546	2,570	5,093	4,207	1,199	4,659	564	1,541
Investing Cash Flow Investing Cash FlowCr	-1,470	3,115	-6	-928	-649	-2,595	-4,872	2,708	-5,924	639	1,730
Financing Cash Flow Financing Cash FlowCr	-318	-2,857	-1,202	-663	-1,061	-1,076	-1,078	-1,262	-1,475	-1,696	-2,097
Net Cash Flow Net Cash FlowCr	472	197	-1,895	-45	861	1,422	-1,742	2,645	-2,739	-493	1,175
Free Cash Flow Free Cash FlowCr	1,607	-853	-1,492	785	1,825	4,625	3,660	611	4,015	-444	560
CFO To PAT CFO To PAT%	169.1	-4.1	-48.8	83.7	143.4	246.1	178.7	40.8	118.2	10.7	25.6
CFO To EBITDA CFO To EBITDA%	162.7	-3.4	-33.7	53.2	93.3	158.6	125.9	29.4	92.3	8.3	19.1

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	29,268	34,923	34,612	22,733	18,116	30,482	51,376	71,307	1,47,255	2,20,171	2,92,830	2,66,551
Price To Earnings Price To Earnings	21.9	22.9	24.2	12.1	9.9	14.5	21.4	23.9	37.0	41.4	48.3	43.4
Price To Sales Price To Sales	4.0	4.0	3.3	1.9	1.4	2.2	3.3	4.0	7.3	9.3	10.6	9.3
Price To Book Price To Book	3.2	4.5	4.3	2.5	1.8	2.8	4.2	5.2	9.0	11.0	12.2	11.1
EV To EBITDA EV To EBITDA	15.9	17.4	16.6	7.5	6.0	7.9	13.1	15.5	27.0	30.8	35.3	32.6
Profitability Ratios Profitability Ratios
GPM GPM%	45.3	47.5	45.5	49.9	44.1	43.3	40.8	43.5	45.8	47.1	47.5	47.5
OPM OPM%	18.9	20.6	19.6	23.9	21.2	22.8	21.7	23.0	24.9	28.8	29.1	28.6
NPM NPM%	18.2	17.3	13.5	15.2	13.8	14.7	15.3	16.6	19.4	22.2	21.8	21.3
ROCE ROCE%	19.1	25.7	24.3	28.7	24.6	26.6	25.7	28.3	32.2	35.5	33.5	33.5
ROE ROE%	14.5	19.4	17.6	20.1	17.8	18.7	19.2	21.2	24.1	26.5	25.1	25.1
ROA ROA%	7.2	8.5	7.4	8.9	7.4	7.0	6.9	8.3	10.0	12.9	13.5	13.5
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	29,268	34,923	34,612	22,733	18,116	30,482	51,376	71,307	1,47,255	2,20,171	2,92,830	2,66,551
Price To Earnings Price To Earnings	21.9	22.9	24.2	12.1	9.9	14.5	21.4	23.9	37.0	41.4	48.3	43.4
Price To Sales Price To Sales	4.0	4.0	3.3	1.9	1.4	2.2	3.3	4.0	7.3	9.3	10.6	9.3
Price To Book Price To Book	3.2	4.5	4.3	2.5	1.8	2.8	4.2	5.2	9.0	11.0	12.2	11.1
EV To EBITDA EV To EBITDA	15.9	17.4	16.6	7.5	6.0	7.9	13.1	15.5	27.0	30.8	35.3	32.6
Profitability Ratios Profitability Ratios
GPM GPM%	45.3	47.5	45.5	49.9	44.1	43.3	40.8	43.5	45.8	47.1	47.5	47.5
OPM OPM%	18.9	20.6	19.6	23.9	21.2	22.8	21.7	23.0	24.9	28.8	29.1	28.6
NPM NPM%	18.2	17.3	13.5	15.2	13.8	14.7	15.3	16.6	19.4	22.2	21.8	21.3
ROCE ROCE%	19.1	25.7	24.3	28.7	24.6	26.6	25.7	28.3	32.2	35.5	33.5	33.5
ROE ROE%	14.5	19.4	17.6	20.1	17.8	18.7	19.2	21.2	24.1	26.5	25.1	25.1
ROA ROA%	7.2	8.5	7.4	8.9	7.4	7.0	6.9	8.3	10.0	12.9	13.5	13.5
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	HAL	BEL	BDL	DATAPATTNS	MTARTECH	AZAD	AEQUS
Market CapitalizationMkt CapCr	3,22,416	2,66,405	38,416	21,578	20,886	16,458	16,160
Close PriceClose₹	4,821.00	364.45	1,048.00	3,854.30	6,790.00	2,548.40	240.95
IndustryIndustry	Aerospace and Defence Equipment	Aerospace and Defence Equipment	Aerospace and Defence Equipment	Aerospace and Defence Equipment	Aerospace and Defence Equipment	Aerospace and Defence Equipment	Aerospace and Defence Equipment
Price To EarningsPE	34.59	43.39	73.75	80.53	156.49	118.59
Price To SalesPS	9.54	9.28	13.89	22.92	19.33	25.78	11.79
RevenueRevenueCr	33,785	28,717	2,766	941	1,080	638	1,370
Revenue Growth TTMRev Gr TTM%	7.4%	19.8%	-18.7%	33.8%	53.4%	28.7%
PAT Growth TTMPAT Gr TTM%	12.2%	11.7%	-7.1%	24.9%	125.2%	40.9%

	HAL	BEL	BDL	DATAPATTNS	MTARTECH	AZAD	AEQUS
Market CapitalizationMkt CapCr	3,22,416	2,66,405	38,416	21,578	20,886	16,458	16,160
Close PriceClose₹	4,821.00	364.45	1,048.00	3,854.30	6,790.00	2,548.40	240.95
IndustryIndustry	Aerospace and Defence Equipment	Aerospace and Defence Equipment	Aerospace and Defence Equipment	Aerospace and Defence Equipment	Aerospace and Defence Equipment	Aerospace and Defence Equipment	Aerospace and Defence Equipment
Price To EarningsPE	34.59	43.39	73.75	80.53	156.49	118.59
Price To SalesPS	9.54	9.28	13.89	22.92	19.33	25.78	11.79
RevenueRevenueCr	33,785	28,717	2,766	941	1,080	638	1,370
Revenue Growth TTMRev Gr TTM%	7.4%	19.8%	-18.7%	33.8%	53.4%	28.7%
PAT Growth TTMPAT Gr TTM%	12.2%	11.7%	-7.1%	24.9%	125.2%	40.9%

FY2026

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Jun 26