BEL
Bharat Electronics Limited (BEL) Stock Analysis
Bharat Electronics Limited is a major Indian public-sector defence and electronics company. It designs and manufactures radar, communication, electronic warfare, and other systems for defence and civilian customers. Its primary customers include the Indian armed forces and government agencies. The company is listed on Indian stock exchanges and is headquartered in India.
Industrials › Aerospace & Defense
₹398.00
-1.57% 1W | -3.20% 52W
Market Cap
290.9k CR
P/E Ratio
47.3
52W High
₹473.4
52W Low
₹380.4
Div. Yield
0.64%
Beta
0.3
50 DMA
₹403.9
200 DMA
₹419.5
Profit Margin
21.4%
Inst. Own.
28.9%
✅ BOUNCE FROM SUPPORT
🔥 APPROACHING RESISTANCE
Fundamentals
Profit & Loss
| Metric | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,533 | 4,009 | 4,162 | 8,564 | 4,244 | 4,605 | 5,771 | 9,150 | 4,440 | 5,792 | 7,154 | 10,224 | 5,547 |
| Expenses | 2,860 | 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 | 673 | 1,014 | 1,072 | 2,287 | 948 | 1,400 | 1,669 | 2,816 | 1,238 | 1,702 | 2,127 | 2,982 | 1,388 |
| OPM % | 19% | 25% | 26% | 27% | 22% | 30% | 29% | 31% | 28% | 29% | 30% | 29% | 25% |
| Other Income | 140 | 137 | 167 | 225 | 204 | 158 | 186 | 195 | 163 | 154 | 139 | 110 | 170 |
| Interest | 1 | 2 | 1 | 4 | 1 | 1 | 1 | 6 | 1 | 2 | 2 | 2 | 1 |
| Depreciation | 109 | 108 | 107 | 119 | 108 | 111 | 111 | 138 | 121 | 126 | 135 | 173 | 161 |
| Profit before tax | 703 | 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 % | 25% | 25% | 25% | 25% | 25% | 25% | 25% | 26% | 25% | 26% | 26% | 24% | 25% |
| Net Profit | 539 | 790 | 860 | 1,797 | 791 | 1,093 | 1,312 | 2,127 | 969 | 1,287 | 1,580 | 2,226 | 1,055 |
| EPS in Rs | 0.74 | 1.08 | 1.18 | 2.46 | 1.08 | 1.49 | 1.79 | 2.91 | 1.33 | 1.76 | 2.16 | 3.04 | 1.44 |
| Metric | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 7,093 | 7,354 | 8,656 | 10,401 | 12,164 | 12,968 | 14,109 | 15,368 | 17,734 | 20,268 | 23,769 | 27,610 | 28,717 |
| Expenses | 5,913 | 5,961 | 6,864 | 8,361 | 9,255 | 10,209 | 10,895 | 12,024 | 13,645 | 15,217 | 16,932 | 19,557 | 20,518 |
| Operating Profit | 1,179 | 1,393 | 1,792 | 2,039 | 2,909 | 2,759 | 3,214 | 3,344 | 4,090 | 5,051 | 6,837 | 8,053 | 8,199 |
| OPM % | 17% | 19% | 21% | 20% | 24% | 21% | 23% | 22% | 23% | 25% | 29% | 29% | 29% |
| Other Income | 507 | 573 | 420 | 196 | 73 | 99 | 125 | 232 | 281 | 670 | 742 | 566 | 572 |
| Interest | 7 | 10 | 18 | 6 | 16 | 8 | 10 | 9 | 19 | 12 | 13 | 10 | 6 |
| Depreciation | 166 | 192 | 212 | 272 | 338 | 372 | 387 | 401 | 429 | 443 | 467 | 556 | 595 |
| Profit before tax | 1,513 | 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 % | 21% | 24% | 24% | 28% | 30% | 28% | 30% | 26% | 25% | 25% | 26% | 25% | |
| Net Profit | 1,197 | 1,337 | 1,523 | 1,431 | 1,887 | 1,825 | 2,100 | 2,400 | 2,986 | 3,985 | 5,323 | 6,062 | 6,148 |
| EPS in Rs | 1.51 | 1.69 | 2.07 | 1.96 | 2.58 | 2.50 | 2.87 | 3.28 | 4.08 | 5.45 | 7.28 | 8.29 | 8.40 |
| Dividend Payout % | 20% | 31% | 33% | 34% | 44% | 37% | 46% | 46% | 44% | 40% | 33% | 30% |
Growth — CAGR
| Metric | 3Y | 5Y | 10Y |
|---|---|---|---|
| Revenue CAGR | 16.0% | 14.0% | 14.0% |
| Profit CAGR | 27.0% | 24.0% | 16.0% |
Shareholding Pattern
Promoters51.14%
FIIs18.56%
DIIs20.60%
Public9.70%
Promoters51.14%
FIIs18.14%
DIIs20.88%
Public9.84%
Promoters51.14%
FIIs18.51%
DIIs20.47%
Public9.87%
Promoters51.14%
FIIs19.51%
DIIs20.00%
Public9.37%
Promoters51.14%
FIIs18.02%
DIIs21.02%
Public9.82%
Promoters51.14%
FIIs16.42%
DIIs25.50%
Public6.95%
Promoters51.14%
FIIs17.56%
DIIs22.63%
Public8.66%
Promoters51.14%
FIIs17.55%
DIIs20.87%
Public10.43%
Promoters51.14%
FIIs19.51%
DIIs20.00%
Public9.37%
Promoters51.14%
FIIs18.02%
DIIs21.02%
Public9.82%
BEL
Holdings Analysis
Key strengths & risk signals
70
Overall
87
Fundamental
54
Technical
Risks (4)
NEGLIGIBLE DIVIDEND! 0.64% yield - little to no income.
WEAK POSITION! Current price (398.0) is below both moving averages.
WEAK! Trading at 18.9% of 52W range - near yearly lows.
NEGATIVE MOMENTUM! Price declined across timeframes - down 1.6% (1 week), 3.5% (1 month), 5.2% (3 months).
Strengths (4)
PERFECT RECORD! Revenue has grown consistently every year. Exceptional business stability.
LOW VOLATILITY! Beta of 0.30 - stable stock, less market risk.
TESTING SUPPORT! Stock is at key support level.
BULLISH SENTIMENT! In last 30 days: 17 up days, 13 down days. Avg volume on up days: 10,515,141 vs down days: 10,241,371. Ratio: 1.03x
Fundamental & Technical Analysis
70Overall
87Fundamental
54Technical
Fundamental Breakdown
Growth Quality
28/30
Revenue CAGR: 15.5% (VERY GOOD, 13/15). Profit CAGR: 26.6% (EXCELLENT, 15/15).
Profit Margin
8/10
EXCELLENT EFFICIENCY! 21.4% profit margin - company keeps strong profits.
PEG Valuation
8/10
FAIRLY VALUED! PEG of 1.78 indicates reasonable valuation.
Dividend Yield
3/10
NEGLIGIBLE DIVIDEND! 0.64% yield - little to no income.
Debt to Equity
10/10
VERY LOW DEBT! D/E of 0.00 - excellent financial health.
Public Holding
20/20
VERY LESS PUBLIC HOLDING! 6.68% public ownership - strong promoter/institutional control.
Stability Index
10/10
PERFECT RECORD! Revenue has grown consistently every year. Exceptional business stability.
Technical Breakdown
Moving Averages
3/10
BEARISH TREND! 50-day average (403.9) is below 200-day average (419.5) - negative signal.
Price Position
2/10
WEAK POSITION! Current price (398.0) is below both moving averages.
Trend Pattern
16/20
TESTING SUPPORT! Stock is at key support level.
52W Performance
3/10
WEAK YEAR! Stock declined 3.2% in the last year.
Volume Sentiment
20/30
BULLISH SENTIMENT! In last 30 days: 17 up days, 13 down days. Avg volume on up days: 10,515,141 vs down days: 10,241,371. Ratio: 1.03x
RSI
3/5
NEUTRAL! RSI at 46.6 - balanced momentum.
52W Range
1/5
WEAK! Trading at 18.9% of 52W range - near yearly lows.
Momentum
1/5
NEGATIVE MOMENTUM! Price declined across timeframes - down 1.6% (1 week), 3.5% (1 month), 5.2% (3 months).
Beta
5/5
LOW VOLATILITY! Beta of 0.30 - stable stock, less market risk.
BEL
Concall / Investor Presentation
Earnings call transcripts & AI summaries
| Quarter | Concall | Summary |
|---|---|---|
| Q4FY262026-07-28 | Concall PDF | |
| Q2FY262026-01-29 | Concall PDF |
Peer Comparison
Industrials · Aerospace & Defense · 8 stocks
| Stock | Price | P/E | Profit Margin | Revenue CAGR 5Y | Profit CAGR 5Y | 52W Change | Stock Strength | Trendline | YoY Profit | QoQ Profit | YoY Revenue | QoQ Revenue |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BEL | ₹398.00 | 47.3 | 21.4% | 15.5% | 26.6% | -3.2% | 70 | BOUNCE FROM SUPPORT | +8.7% | -52.6% | +24.9% | -45.7% |
| HAL | ₹4,825.00 | 34.7 | 27.6% | 6.4% | 16.1% | -0.2% | 82 | BOUNCE FROM SUPPORT | +14.9% | -62.1% | +14.4% | -60.4% |
| MAZDOCK | ₹2,232.00 | 33.6 | 20.1% | 19.6% | 32.2% | -23.4% | 72 | BREAKDOWN | +21.5% | -19.1% | +12.1% | -23.6% |
| BDL | ₹1,174.50 | 82.5 | 18.8% | -0.9% | 6.1% | -26.5% | 56 | BREAKDOWN | +549.2% | +4.9% | +144.8% | +15.8% |
| COCHINSHIP | ₹1,382.50 | 53.5 | 13.5% | 26.9% | 33.0% | -27.3% | 62 | BREAKDOWN | -19.3% | -45.2% | +2.4% | -26.3% |
| MEGASOFT | ₹190.00 | 7.9 | 80.8% | – | – | +161.2% | 53 | CONSOLIDATING DOWN | -104.2% | -99.6% | – | – |
| GRSE | ₹2,373.20 | 33.9 | 10.7% | 40.0% | 48.6% | -9.6% | 77 | BREAKDOWN | +43.8% | -43.0% | +38.5% | -14.4% |
| DATAPATTNS | ₹4,505.00 | 94.2 | 28.5% | 26.8% | 29.8% | +60.4% | 74 | BREAKDOWN | -13.3% | -84.0% | +16.8% | -66.4% |
Data from TradeAlone · Updated daily
