Bharat Dynamics logo

Bharat Dynamics

BDL NSE

Key Fundamentals

MidcapEngineeringAerospace & Defense
Market Cap
₹40,641 Cr
Volatility
Moderate
P/E Ratio
76.56
EBITDA
₹647 Cr
Return on Equity
9.91%
Debt to Equity
0
Book Value
₹115.7
EPS
₹15.77
52W High
₹1,633.4
52W Low
₹1,085.1

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

4
  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 35.1%

Weaknesses

4
  • Stock is trading at 9.40 times its book value
  • The company has delivered a poor sales growth of 4.99% over past five years.
  • Company has a low return on equity of 13.9% over last 3 years.
  • Earnings include an other income of Rs.440 Cr.

Growth Rate

Revenue Growth
-22.46% lower than 3Y
Net Income Growth
-23.53% lower than 3Y
Cash Flow Change
261% higher than 3Y
ROE
-27.72% lower than 3Y
ROCE
-29.15% higher than 3Y
EBITDA Margin (Avg.)
1.44% higher than 3Y

AI News Digest

1d ago
Headwinds 3
  • FY26 revenue miss on technical issues Sep 28

    BDL posted FY26 PAT of ₹420.34 Cr, but revenue fell short because of technical issues. That raises questions about how reliably it can convert orders into revenue.

  • Stock down 20% YTD Sep 23

    Shares have lost 20% year-to-date and 14% in the past month. The stock recently slipped close to its March low of ₹1,095.

  • Competition and R&D squeeze margins Sep 23

    Emkay Global says rising competition and higher R&D spending are likely to pressure margins in the near term.

Positives 4
  • ₹810.79 Cr SAT-SAAW IAF order Sep 23

    BDL signed a ₹810.79 Cr MoD contract for 160 indigenous SAT-SAAW glide bombs for the IAF under the Buy (Indian-IDDM) category, with 60% indigenous content. Deliveries are scheduled for FY28-FY29.

  • ₹26,176 Cr order book, ₹5,500 Cr target Sep 28

    The order book stands at ₹26,176 Cr after fresh orders of ₹5,909 Cr. Management is targeting ₹5,500 Cr in FY27 revenue.

  • Emkay 'Add' with ₹1,350 target Sep 23

    Emkay Global started coverage with an 'Add' rating and a ₹1,350 target. Shares rose 2% to ₹1,181.50 on about 1.1 million shares traded, even as the Sensex and Nifty fell up to 1%.

  • Defence budget and capex tailwinds Sep 23

    India's defence budget grew from ₹2.53 trillion in FY14 to ₹6.81 trillion in FY26. Jefferies says more than $120 billion of acquisition proposals were cleared in FY26, giving visibility on medium-term orders.

Neutral 5
  • Technicals: oversold, ₹1,085 support Sep 23

    Prithvi Finmart says the stock can recover toward the 50-DMA at ₹1,265 and the 200-DMA at ₹1,320 as long as ₹1,085 support holds. RSI is in oversold territory.

  • RVV-BD integration on Su-30 MKI Sep 7

    India plans to integrate the RVV-BD long-range air-to-air missile with the Su-30 MKI fleet to strengthen the IAF's beyond-visual-range combat capability, and BDL is linked to the programme. No contract value has been disclosed yet.

  • 56th AGM: all resolutions passed Sep 30

    All nine resolutions at the 56th AGM on Sep 28 passed, including a ₹0.40 final dividend and new director appointments. The scrutinizer report was filed on Sep 30.

  • Prakash Rajpurohit joins board Sep 18

    Prakash Rajpurohit was appointed Part-Time Official Director effective Sep 17, 2026, replacing Meera Mohanty, after MoD approval.

  • FY26 BRSR filed, new plants planned Sep 3

    BDL filed its FY26 Business Responsibility and Sustainability Report. It outlines plans for new manufacturing facilities in Maharashtra and Uttar Pradesh.

TL;DR: Order visibility is strong: the ₹26,176 Cr order book is about 4.8x the ₹5,500 Cr FY27 revenue target, and it now includes the ₹810.79 Cr SAT-SAAW contract on top of a fast-growing defence budget. The main concerns are execution and profitability, after the FY26 revenue miss on technical issues and Emkay's warning that competition and R&D costs will pressure margins. Those worries help explain why the stock is down 20% YTD. The stock is oversold near ₹1,085-1,095 support and held up on a weak market day after the order win, which suggests a possible bottom. A lasting rerating toward ₹1,265-1,350 likely depends on proof of faster execution against the FY27 target.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
298
616
602
854
191
545
832
1,777
248
1,147
567
480
572
Expenses
330
482
483
538
243
446
705
1,478
293
960
541
425
489
Operating Profit
-33
134
119
316
-52
99
127
299
-45
188
26
55
83
OPM %
-11%
22%
20%
37%
-27%
18%
15%
17%
-18%
16%
4.6%
12%
15%
Other Income
107
78
88
88
80
86
84
100
87
121
97
119
103
Interest
1
1
1
1
1
1
1
1
1
1
1
1
1
Depreciation
17
17
16
16
16
18
18
20
18
19
19
20
20
PBT
57
194
189
388
11
166
193
378
23
288
103
154
166
Tax %
27%
24%
29%
26%
36%
26%
24%
28%
21%
25%
29%
26%
28%
Net Profit
42
147
135
289
7
123
147
273
18
216
73
113
119
EPS in Rs
1.14
4.01
3.68
7.88
0.2
3.34
4.01
7.44
0.5
5.89
1.99
3.09
3.24
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,841
4,079
4,887
4,588
3,069
3,105
1,914
2,817
2,489
2,369
3,345
2,442
2,766
Expenses
2,564
3,564
4,317
3,919
2,446
2,349
1,568
2,090
2,080
1,832
2,872
2,217
2,414
Operating Profit
277
515
569
669
623
756
346
727
409
537
473
225
352
OPM %
10%
13%
12%
15%
20%
24%
18%
26%
16%
23%
14%
9%
13%
Other Income
439
385
300
173
136
88
95
78
155
362
350
424
440
Interest
5
5
4
4
5
5
5
5
6
4
4
5
3
Depreciation
67
53
62
63
82
96
95
90
77
67
71
76
79
PBT
644
841
803
774
671
742
341
710
482
828
749
568
710
Tax %
31%
33%
35%
32%
37%
28%
24%
30%
27%
26%
27%
26%
—
Net Profit
444
562
524
528
423
535
258
500
352
613
550
420
521
EPS in Rs
1,928
2,810
2,184
14.41
11.53
14.59
7.03
13.64
9.61
16.71
14.99
11.47
14.21
Div. Payout %
19%
30%
30%
25%
30%
30%
52%
30%
49%
32%
31%
43%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
115
98
122
183
183
183
183
183
183
183
183
183
Reserves
1,538
1,753
2,073
1,773
2,085
2,424
2,501
2,847
3,028
3,454
3,826
4,058
Borrowings
0
4
4
4
5
15
11
10
9
8
7
5
Other Liabilities
6,759
7,786
6,208
4,697
3,250
3,128
3,334
3,595
5,535
6,781
7,795
10,080
Total Liabilities
8,412
9,641
8,407
6,657
5,523
5,750
6,030
6,636
8,756
10,426
11,811
14,326
Fixed Assets
518
697
757
868
957
932
915
874
809
824
857
878
CWIP
142
126
136
130
47
42
22
41
74
73
230
299
Investments
3
3
3
239
4
4
5
0
0
0
4
4
Other Assets
7,749
8,815
7,511
5,420
4,516
4,771
5,089
5,721
7,873
9,530
10,719
13,145
Total Assets
8,412
9,641
8,407
6,657
5,523
5,750
6,030
6,636
8,756
10,426
11,811
14,326
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-765
284
-420
-342
84
504
1,068
530
2,130
412
167
604
Investing
239
149
3
1,047
170
-33
-734
-573
-1,171
-722
-407
320
Financing
-72
-324
-166
-769
-268
-191
-173
-149
-171
-148
-220
-194
Net Cash Flow
-598
109
-583
-63
-15
280
162
-192
788
-459
-460
729
Free Cash Flow
-943
68
-556
-510
-5
447
1,012
428
2,022
331
-115
375
CFO/OP
-197
109
-15
-13
61
90
332
101
574
106
78
366
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
43
13
12
61
63
40
62
39
27
48
90
63
Inventory Days
286
302
276
254
380
222
636
534
584
841
590
1,400
Days Payable
100
202
186
129
115
83
322
171
142
325
328
846
Cash Conversion Cycle
230
114
101
186
328
178
375
403
469
564
353
617
Working Capital Days
-126
-106
-11
44
128
195
169
144
237
322
207
264
ROCE %
—
48%
40%
37%
32%
31%
13%
26%
16%
24%
20%
14%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Bharat Dynamics insights

59 extracted metrics + investor summaries across FY09–FY27.

Log in — free

Shareholding Pattern

Others1.63%Promot.74.93%FIIs1.69%Public10.23%DIIs11.53%As ofJun 2026

Documents

1
Concall - Nov 2024 Nov 2024
2
Concall - Jun 2024 Jun 2024
3
Concall - Feb 2024 Feb 2024
4
Concall - Nov 2023 Nov 2023
5
Concall - Jun 2023 Jun 2023

Frequently Asked Questions about Bharat Dynamics

What does Bharat Dynamics Ltd do?
Bharat Dynamics (BDL), is a Government of India Enterprise. It is engaged in the manufacturing of guided missiles and allied defence equipments [1] [2].
Where is Bharat Dynamics Ltd (BDL) listed?
Bharat Dynamics Ltd trades as BDL on the NSE and under code 541143 on the BSE.
Which sector does Bharat Dynamics Ltd belong to?
Bharat Dynamics Ltd is classified under the Aerospace & Defense sector, in the Engineering industry.
What is the market capitalisation of Bharat Dynamics Ltd?
Bharat Dynamics Ltd has a market capitalisation of ₹40,641 Cr, which places it in the Large Cap band.
What is the PE ratio of Bharat Dynamics Ltd?
Bharat Dynamics Ltd trades at a PE ratio of 76.56, on earnings per share of ₹15.77, against a book value of ₹115.7 per share.
What is the 52-week high and low of Bharat Dynamics Ltd?
Over the last 52 weeks Bharat Dynamics Ltd has traded between ₹1,085.1 and ₹1,633.4.
Does Bharat Dynamics Ltd pay dividends?
Bharat Dynamics Ltd has a dividend yield of 0.44%.
What is the Return on Equity (ROE) of Bharat Dynamics Ltd?
Bharat Dynamics Ltd reported a return on equity of 9.91%. Its debt-to-equity ratio is 0.00.

Company Information

Bharat Dynamics (BDL), is a Government of India Enterprise. It is engaged in the manufacturing of guided missiles and allied defence equipments [1] [2].

Website bdl-india.in/Home-Page
CEO Commodore A. Madhavarao
Employees 2,269
Listed 2018-03-23
Face Value ₹ 5
Issued Size 36,65,62,500

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/BDL.md for Bharat Dynamics Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our MCP server.

Explore More

More in Aerospace & Defense → FII DII Data Stock Screener Nifty 50 Heatmap F&O Ban List