Bharat Electronics Ltd

Bharat Electronics Ltd maintains a robust capital structure characterized by negligible leverage and strong liquidity. The company reports a debt-to-equity ratio of 0.0, indicating an absence of significant long-term debt obligations relative to its equity base. With a current ratio of 1.98, the firm holds sufficient short-term assets to cover its immediate liabilities, supporting a low liquidity risk assessment. The balance sheet reflects total assets of 445.38 billion INR against total liabilities of 205.49 billion INR, resulting in a solid equity position of 239.88 billion INR. Cash and equivalents stand at 85.72 billion INR, providing a substantial buffer for operational flexibility and capital allocation.

Profitability metrics demonstrate high efficiency in capital utilization. The return on equity (ROE) stands at 25.27%, while the return on assets (ROA) is 13.61%, indicating effective management of both shareholder capital and asset base. Operating income of 74.94 billion INR on revenues of 276.10 billion INR suggests strong operational margins. The net income of 60.62 billion INR further underscores the company's ability to convert top-line growth into bottom-line earnings. These returns are supported by a gross profit of 135.77 billion INR, reflecting healthy pricing power or cost control within its specialized manufacturing segment.

Bharat Electronics Ltd (BAJE.NS) has experienced no material changes in its fundamental profile or operational outlook compared to prior analysis. A comprehensive review of 17 key fields, excluding four schema-expansion metrics, confirms that the company’s core business dynamics remain stable, with no significant shifts in financial performance, strategic direction, or risk factors identified during this period. This stability is reflected in the absence of any new watcher signals or cross-source alerts that would typically indicate emerging opportunities or threats. The lack of material change suggests that the company continues to operate within its established parameters, providing a consistent backdrop for investors and analysts monitoring the defense electronics sector. Despite the static nature of recent developments, Bharat Electronics maintains a notable presence in the analyst community, with nine analysts currently covering the stock. This level of coverage indicates ongoing interest from the financial community, even in the absence of immediate catalysts or significant news flow. The company’s profile remains defined by its established market position, with no changes in index membership or top holder structures reported. As such, the current investment thesis for Bharat Electronics continues to rely on its long-term fundamentals and sector-specific trends, rather than any recent short-term developments.

Revenue grew 16.2% year-over-year to INR 276.1 billion in FY2026, demonstrating strong top-line expansion momentum.

Net income surged 13.9% to INR 60.6 billion in FY2026, reflecting robust profitability growth.

Operating margin stands at 27.1%, significantly above the 12.0% cohort median, indicating superior operational efficiency.

Analysts project 144.5% upside to a mean price target of INR 485.36, signaling strong market confidence.

Cash conversion ratio of 0.25 places the company in the bottom quartile of its cohort.

The company is benchmarked against Oil & Gas Exploration, a sector mismatch that may distort peer comparisons.

Revenue INR 102.24B, +11,8% YoY; Operating income +4,9% YoY.

• ▍Revenue INR 102.24B, +11,8% YoY
• ▍Operating income +4,9% YoY
• ▍Net income +4,6% YoY
• ▍Net margin 21.8%

Revenue INR 71.54B, +24,0% YoY; Operating income +27,8% YoY.

• ▍Revenue INR 71.54B, +24,0% YoY
• ▍Operating income +27,8% YoY
• ▍Net income +20,4% YoY
• ▍Net margin 22.1%

Revenue INR 57.92B, +25,8% YoY; Operating income +22,3% YoY.

• ▍Revenue INR 57.92B, +25,8% YoY
• ▍Operating income +22,3% YoY
• ▍Net income +17,9% YoY
• ▍Net margin 22.2%

Revenue INR 44.40B, +4,6% YoY; Operating income +33,0% YoY.

• ▍Revenue INR 44.40B, +4,6% YoY
• ▍Operating income +33,0% YoY
• ▍Net income +22,6% YoY
• ▍Net margin 21.8%

Revenue INR 91.50B; Operating income INR 26.78B.

• ▍Revenue INR 91.50B
• ▍Operating income INR 26.78B
• ▍Net margin 23.2%

Revenue INR 57.71B; Operating income INR 15.59B.

• ▍Revenue INR 57.71B
• ▍Operating income INR 15.59B
• ▍Net margin 22.7%

Revenue INR 46.05B; Operating income INR 12.89B.

• ▍Revenue INR 46.05B
• ▍Operating income INR 12.89B
• ▍Net margin 23.7%

Revenue INR 42.44B; Operating income INR 8.41B.

• ▍Revenue INR 42.44B
• ▍Operating income INR 8.41B
• ▍Net margin 18.6%

Revenue INR 276.10B, +16,2% YoY; Operating income +17,7% YoY.

• ▍Revenue INR 276.10B, +16,2% YoY
• ▍Operating income +17,7% YoY
• ▍Net income +13,9% YoY
• ▍Free cash flow +14,6% YoY
• ▍Net margin 22.0%

Revenue INR 237.69B, +17,3% YoY; Operating income +38,3% YoY.

• ▍Revenue INR 237.69B, +17,3% YoY
• ▍Operating income +38,3% YoY
• ▍Net income +33,5% YoY
• ▍Free cash flow +34,8% YoY
• ▍Net margin 22.4%

Revenue INR 202.68B, +14,3% YoY; Operating income +25,9% YoY.

• ▍Revenue INR 202.68B, +14,3% YoY
• ▍Operating income +25,9% YoY
• ▍Net income +33,5% YoY
• ▍Free cash flow +47,9% YoY
• ▍Net margin 19.7%

Revenue INR 177.34B, +15,4% YoY; Operating income +24,4% YoY.

• ▍Revenue INR 177.34B, +15,4% YoY
• ▍Operating income +24,4% YoY
• ▍Net income +24,4% YoY
• ▍Free cash flow +30,4% YoY
• ▍Net margin 16.8%