BHARAT ELECTRONICS LTD (BEL) financials

BHARAT ELECTRONICS LTD (BEL) NSE/BSE financials on Fincrux: quarterly results, profit and loss, cash flow, balance sheet, ratios, and shareholding.

Incorporated in 1954, Bharat Electronics Ltd manufactures and supplies electronic equipment and systems to the defence sector. Company also has a limited presence in the civilian market[1]

Market Cap: ₹2,66,441Cr.
Current Price: ₹364
Stock P/E: 43.5
ROE: 27.8%
ROCE: 37.0%
Book Value: ₹32.4
Dividend Yield: 0.69%
52W High / Low: ₹473/360

In Jun 2026, BHARAT ELECTRONICS LTD (BEL) reported sales ₹5,533 Cr and net profit ₹1,048 Cr.

Annual TTM: sales ₹28,596 Cr, net profit ₹6,128 Cr.

Shareholding: Promoters 51.14% (Sep 2026), FIIs 16.99% (Sep 2026), DIIs 21.86% (Sep 2026), Public 10.00% (Sep 2026), No. of Shareholders 26,45,635% (Sep 2026).

BEL quarterly results (₹ Cr.)
Category	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	4,583	5,756	9,120	4,417	5,764	7,122	10,177	5,533
Expenses	3,195	4,103	6,331	3,177	4,068	5,004	7,215	4,144
Operating Profit	1,389	1,653	2,789	1,240	1,695	2,118	2,962	1,389
OPM %	30%	29%	31%	28%	29%	30%	29%	25%
Other Income	167	205	194	164	159	160	108	167
Interest	1	1	6	1	2	2	2	1
Depreciation	103	103	130	113	118	127	165	153
Profit before tax	1,451	1,754	2,848	1,289	1,734	2,148	2,904	1,403
Tax %	25%	25%	26%	25%	26%	26%	24%	25%
Net Profit	1,091	1,316	2,105	969	1,286	1,590	2,203	1,048
EPS in Rs	1.49	1.80	2.88	1.33	1.76	2.18	3.01	1.43
Raw PDF	—	—	—	—	—	—	—	—

BEL profit and loss (₹ Cr.)
Category	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	12,921	14,064	15,314	17,646	20,169	23,658	27,480	28,596
Expenses	10,187	10,880	12,001	13,595	15,167	16,888	19,461	20,431
Operating Profit	2,734	3,184	3,313	4,051	5,003	6,770	8,018	8,165
OPM %	21%	23%	22%	23%	25%	29%	29%	29%
Other Income	102	126	234	360	756	768	590	594
Interest	7	9	8	18	12	12	10	6
Depreciation	350	366	380	408	412	436	524	564
Profit before tax	2,479	2,935	3,158	3,985	5,335	7,090	8,075	8,189
Tax %	28%	30%	26%	25%	25%	25%	25%	—
Net Profit	1,794	2,065	2,349	3,007	4,020	5,288	6,048	6,128
EPS in Rs	2.45	2.83	3.21	4.11	5.50	7.23	8.27	8.38
Dividend Payout %	38%	47%	47%	44%	40%	33%	30%	—

BEL balance sheet (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	244	244	244	244	731	731	731	731
Reserves	8,775	9,609	10,564	11,741	12,851	15,351	18,967	22,967
Borrowings	33	8	3	53	61	63	61	65
Other Liabilities	11,411	14,050	18,243	21,413	21,411	23,011	20,659	20,327
Total Liabilities	20,463	23,911	29,053	33,450	35,054	39,156	40,418	44,090
Fixed Assets	2,084	2,520	2,480	2,524	2,672	2,759	3,173	3,899
CWIP	721	683	736	859	841	891	1,044	728
Investments	1,019	1,162	1,331	1,554	664	768	820	864
Other Assets	16,638	19,547	24,506	28,513	30,877	34,738	35,381	38,600
Total Assets	20,463	23,911	29,053	33,450	35,054	39,156	40,418	44,090

BEL cash flows (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	1,466	2,533	5,103	4,161	1,087	4,648	457	1,494
Cash from Investing Activity	-854	-639	-2,569	-4,861	2,800	-5,889	772	1,747
Cash from Financing Activity	-628	-1,059	-1,075	-1,077	-1,262	-1,474	-1,696	-2,096
Net Cash Flow	-16	834	1,459	-1,777	2,625	-2,715	-467	1,145
Free Cash Flow	761	1,806	4,637	3,615	524	4,006	-544	515
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	78%	113%	177%	150%	53%	121%	31%	44%

BEL shareholding pattern (%)
Category	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Promoters	51.14%	51.14%	51.14%	51.14%	51.14%	51.14%	51.14%	51.14%
FIIs	17.34%	17.55%	18.56%	18.14%	18.51%	19.51%	18.02%	16.99%
DIIs	20.94%	20.87%	20.60%	20.88%	20.47%	20.00%	21.02%	21.86%
Public	10.58%	10.43%	9.70%	9.84%	9.87%	9.37%	9.82%	10.00%
No. of Shareholders	26,53,676	26,78,435	25,42,378	24,98,588	25,43,622	25,30,896	26,04,298	26,45,635

BEL key ratios
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	162	190	170	145	145	133	140	171
Inventory Days	272	202	230	228	238	256	272	264
Days Payable	89	125	154	138	124	128	99	92
Cash Conversion Cycle	346	267	246	235	260	262	313	342
Working Capital Days	136	120	47	3	29	17	85	135
ROCE %	32%	26%	28%	28%	31%	36%	39%	37%

BELUpdated 23 Oct 2026, 5:11

Bharat Electronics Ltd

BELUpdated 23 Oct 2026, 5:11

Market Cap

₹2,66,441Cr.

Current Price

₹364

High / Low

₹473/360

Stock P/E

43.5

Book Value₹32.4

Dividend Yield0.69%

ROCE37.0%

ROE27.8%

Face Value₹1.00

About

Incorporated in 1954, Bharat Electronics Ltd manufactures and supplies electronic equipment and systems to the defence sector. Company also has a limited presence in the civilian market[1]

Quarterly results

Last reported quarters₹ Cr.

Quarter	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Jun 2023	3511	1	2846	142	101	704	25	531	0.73
Sep 2023	3993	2	2989	171	100	1073	24	812	1.11
Dec 2023	4137	1	3087	223	100	1172	24	893	1.22
Mar 2024	8529	4	6249	221	111	2386	25	1784	2.44
Jun 2024	4199	1	3262	202	100	1037	25	776	1.06
Sep 2024	4583	1	3195	167	103	1451	25	1091	1.49
Dec 2024	5756	1	4103	205	103	1754	25	1316	1.8
Mar 2025	9120	6	6331	194	130	2848	26	2105	2.88
Jun 2025	4417	1	3177	164	113	1289	25	969	1.33
Sep 2025	5764	2	4068	159	118	1734	26	1286	1.76
Dec 2025	7122	2	5004	160	127	2148	26	1590	2.18
Mar 2026	10177	2	7215	108	165	2904	24	2203	3.01
Jun 2026	5533	1	4144	167	153	1403	25	1048	1.43

Profit & loss

Annual statement₹ Cr.

Year	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Mar 2015	6843	6	5695	479	154	1467	20	1167	1.47
Mar 2016	7328	8	5953	537	172	1732	25	1307	1.65
Mar 2017	8600	16	6834	471	192	2029	24	1548	2.1
Mar 2018	10322	5	8319	200	251	1948	28	1399	1.91
Mar 2019	12085	15	9219	170	316	2703	29	1927	2.64
Mar 2020	12921	7	10187	102	350	2479	28	1794	2.45
Mar 2021	14064	9	10880	126	366	2935	30	2065	2.83
Mar 2022	15314	8	12001	234	380	3158	26	2349	3.21
Mar 2023	17646	18	13595	360	408	3985	25	3007	4.11
Mar 2024	20169	12	15167	756	412	5335	25	4020	5.5
Mar 2025	23658	12	16888	768	436	7090	25	5288	7.23
Mar 2026	27480	10	19461	590	524	8075	25	6048	8.27
TTM	28596	6	20431	594	564	8189	—	6128	8.38

Shareholding pattern

As of Sep 2026%

Holder	Share
Promoters	51.14%
FIIs	16.99%
DIIs	21.86%
Public	10%

Shareholding trend

Ownership over time%

Quarter	Promoters	FIIs	DIIs	Public
Dec 2023	51.14%	17.77%	23.37%	7.72%
Mar 2024	51.14%	17.56%	22.63%	8.66%
Jun 2024	51.14%	17.43%	20.62%	10.82%
Sep 2024	51.14%	17.27%	20.22%	11.37%
Dec 2024	51.14%	17.34%	20.94%	10.58%
Mar 2025	51.14%	17.55%	20.87%	10.43%
Jun 2025	51.14%	18.56%	20.6%	9.7%
Sep 2025	51.14%	18.14%	20.88%	9.84%
Dec 2025	51.14%	18.51%	20.47%	9.87%
Mar 2026	51.14%	19.51%	20%	9.37%
Jun 2026	51.14%	18.02%	21.02%	9.82%
Sep 2026	51.14%	16.99%	21.86%	10%

Balance sheet

Assets & liabilities₹ Cr.

Period	Equity Capital	Reserves	Borrowings	Other Liabilities	Total Liabilities	Fixed Assets	CWIP	Investments	Other Assets	Total Assets
Mar 2015	80	7805	0	7317	15202	771	140	19	14272	15202
Mar 2016	240	8744	0	9141	18125	976	430	319	16399	18125
Mar 2017	223	7285	50	9598	17157	1255	656	460	14786	17157
Mar 2018	244	7517	67	11028	18856	1607	833	903	15513	18856
Mar 2019	244	8775	33	11411	20463	2084	721	1019	16638	20463
Mar 2020	244	9609	8	14050	23911	2520	683	1162	19547	23911
Mar 2021	244	10564	3	18243	29053	2480	736	1331	24506	29053
Mar 2022	244	11741	53	21413	33450	2524	859	1554	28513	33450
Mar 2023	731	12851	61	21411	35054	2672	841	664	30877	35054
Mar 2024	731	15351	63	23011	39156	2759	891	768	34738	39156
Mar 2025	731	18967	61	20659	40418	3173	1044	820	35381	40418
Mar 2026	731	22967	65	20327	44090	3899	728	864	38600	44090

Cash flows

Operating, investing & financing₹ Cr.

Period	Operating	Investing	Financing	Net cash flow
Mar 2015	1349	-842	-232	276
Mar 2016	2249	-1485	-316	448
Mar 2017	-97	3148	-2835	216
Mar 2018	-789	41	-1201	-1948
Mar 2019	1466	-854	-628	-16
Mar 2020	2533	-639	-1059	834
Mar 2021	5103	-2569	-1075	1459
Mar 2022	4161	-4861	-1077	-1777
Mar 2023	1087	2800	-1262	2625
Mar 2024	4648	-5889	-1474	-2715
Mar 2025	457	772	-1696	-467
Mar 2026	1494	1747	-2096	1145

Key ratios

Historical financial ratios

Category	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	202	185	185	179	162	190	170	145	145	133	140	171
Inventory Days	329	397	405	303	272	202	230	228	238	256	272	264
Days Payable	110	112	111	93	89	125	154	138	124	128	99	92
Cash Conversion Cycle	421	470	479	388	346	267	246	235	260	262	313	342
Working Capital Days	55	10	64	128	136	120	47	3	29	17	85	135
ROCE %	20%	21%	25%	25%	32%	26%	28%	28%	31%	36%	39%	37%

Frequently asked questions

Quick answers about this company's financials on Fincrux

What is the market cap of BHARAT ELECTRONICS LTD (BEL)?

The reported market capitalisation for BHARAT ELECTRONICS LTD (BEL) is ₹2,66,441Cr. on Fincrux. Figures may update with market data and filings.

What is the current share price of BEL?

The current price shown for BHARAT ELECTRONICS LTD (BEL) on Fincrux is ₹364 with a 52-week high/low of ₹473/360.

What is the P/E ratio of BHARAT ELECTRONICS LTD (BEL)?

The stock P/E for BHARAT ELECTRONICS LTD (BEL) is 43.5 on Fincrux, with ROE at 27.8% and ROCE at 37.0%.

What were BEL latest quarterly results?

For Jun 2026, BHARAT ELECTRONICS LTD (BEL) reported sales ₹5,533 Cr and net profit ₹1,048 Cr (figures in ₹ crore unless noted).

What are BEL annual sales and net profit?

For TTM, BHARAT ELECTRONICS LTD (BEL) shows sales of ₹28,596 Cr and net profit of ₹6,128 Cr on the Fincrux profit & loss statement.

Who owns BHARAT ELECTRONICS LTD (BEL)?

Latest shareholding for BHARAT ELECTRONICS LTD (BEL) on Fincrux: Promoters 51.14% (Sep 2026), FIIs 16.99% (Sep 2026), DIIs 21.86% (Sep 2026), Public 10.00% (Sep 2026), No. of Shareholders 26,45,635% (Sep 2026).

Where can I find BHARAT ELECTRONICS LTD (BEL) financials?

BHARAT ELECTRONICS LTD (BEL) financials on Fincrux include quarterly results, profit and loss, cash flow, balance sheet, key ratios, and shareholding patterns for NSE/BSE research.

Does Fincrux show BEL balance sheet and cash flow?

Yes. The BHARAT ELECTRONICS LTD (BEL) page on Fincrux includes balance sheet, cash flow statements, historical ratios, and ownership trends alongside quarterly and annual results.

Figures in ₹ crore unless noted. Data sourced for research and may lag filings.

Last updated 23 October 2026 at 5:11