Bharat Electronics (BEL)

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Bharat Electronics (BEL) · mywealthgrid

About

Bharat Electronics is a defence electronics PSU supplying radars, avionics and electronic warfare systems to India's defence sector. At ₹3,00,295 Cr market cap, it is a significant player in defence manufacturing. The company delivers consistent margins (29% OPM) with strong return on equity (27.58%), though recent valuation (PE 48.86) reflects elevated expectations.

Founded: 1954
Face value: ₹1

Market cap

₹2,80,046 Cr

P/E

45.6×

P/B

11.7×

Dividend yield

0.9%

ROE

27.6%

ROCE

34.8%

Debt / equity

OPM

29.2%

EPS (TTM)

₹8.4

Book value

₹32.8

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Valuation premium at PE 48.86 relative to ROE 27.58% implies strong growth already priced in; downside if orders disappoint or margins compress from current 29% level
Execution lumpiness: Mar quarter (₹10,224 Cr revenue) is double Jun quarter (₹5,546 Cr), an 85% swing—verify if order pipeline stability and contract timing can smooth earnings
Stock weakness: Down 12% from 52w high (₹468.45 to ₹410.8) despite strong profitability metrics; verify if order flow slowing, competitive pressure emerging, or macro headwinds intensifying
Procurement risk: As a PSU, growth depends entirely on government defence capex cycles; verify whether budgeting delays, capex cuts or policy shifts are impacting order inflow

Generated analysis · source review pending

Growth drivers

Stable OPM 29-30% across Dec (₹7,122 Cr revenue, 29.73%), Mar (₹10,224 Cr, 29.16%) and Sep (₹5,792 Cr, 29.39%) quarters means earnings scale directly with revenue growth—verify if order pipeline supports acceleration
Mar quarter revenue (₹10,224 Cr) demonstrates large contract execution capacity; sustained growth depends on order book replenishment and bid wins—verify pending contracts and defence ministry capex plans
ROE 27.58% with zero debt (D/E 0) and consistent dividend payouts across 2024–2026 show capital efficiency and cash generation; growth will be limited by reinvestment rate—verify capex and R&D intensity decisions
Defence electronics demand tied to government procurement cycles; verify if India's defence budget growth and domestic manufacturing initiatives are accelerating order inflow

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹383.1-1.2%1Y

Quick read

rule-based

Pros

+Strong return on equity of 27.8% (3-yr avg)
+High return on capital employed of 34.7%
+Healthy operating margin of 29.2%
+Profit CAGR of 23.6% over the last 5 years
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 1197.6×
+Dividend payout of 40.4% of profit

Cons

−Trading at 11.7× book value

Research score

Structured signal from quality, growth, valuation and momentum.

60/100

Business quality: 94
Growth

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY 50 NIFTY 100 NIFTY 200 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Hindustan AeronauticsHALHAL	₹3,08,267 Cr	₹3,08,267 Cr	₹33,785 Cr	₹10,014 Cr	29.5%	₹9,321 Cr	27.6%	16.1%	24%	713
Bharat ElectronicsBELBEL	₹2,80,046 Cr	₹2,80,046 Cr	₹28,717 Cr	₹8,199 Cr	29.2%	₹6,146 Cr	22%	34.8%	27.6%	342
Tata Motors LimitedTMCVTMCV	₹1,53,008 Cr	₹1,57,825 Cr	₹87,197 Cr	₹8,812 Cr	9.1%	₹4,191 Cr	3.6%	31.3%	24%	-54
Bharat Heavy Electricals LimitedBHELBHEL	₹1,46,596 Cr	₹1,54,783 Cr	₹35,993 Cr	₹3,383 Cr	6.9%	₹2,432 Cr	4.7%	6.8%	6.3%	119
ABB IndiaABBABB	₹1,46,211 Cr	₹1,46,211 Cr	₹13,611 Cr	₹1,902 Cr	15.5%	₹2,988 Cr	12.6%	30%	22.4%	21
Hitachi Energy India LimitedPOWERINDIAPOWERINDIA	₹1,39,553 Cr	₹1,39,553 Cr	₹9,163 Cr	₹1,424 Cr	15.4%	₹1,150 Cr	12.1%	28.8%	21%	-42
Cg Power And Industrial Solutions LimitedCGPOWERCGPOWER	₹1,38,443 Cr	₹1,38,443 Cr	₹12,821 Cr	₹1,638 Cr	13.1%	₹973 Cr	9.7%	26.2%	20.4%	48
Siemens IndiaSIEMENSSIEMENS	₹1,35,460 Cr	₹1,35,460 Cr	₹18,849 Cr	₹2,013 Cr	11.4%	₹3,421 Cr	11.1%	22%	20.3%	23
Cummins India LimitedCUMMINSINDCUMMINSIND	₹1,34,719 Cr	₹1,34,719 Cr	₹12,662 Cr	₹2,588 Cr	21.4%	₹2,367 Cr	19.5%	34.7%	29.5%	60
Polycab India LimitedPOLYCABPOLYCAB	₹1,20,329 Cr	₹1,20,462 Cr	₹31,188 Cr	₹4,284 Cr	13.9%	₹2,864 Cr	9.4%	33.9%	24.5%	114
Siemens Energy India LimitedENRINENRIN	₹1,18,724 Cr	₹1,18,724 Cr	₹9,436 Cr	₹2,024 Cr	19.3%	₹1,488 Cr	14.1%	33.8%	29%	-175
Ge Vernova T&D India LimitedGVT&DGVT&D	₹1,08,882 Cr	₹1,08,882 Cr	₹6,712 Cr	₹1,757 Cr	27.1%	₹1,305 Cr	19.9%	73.2%	55.3%	90

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	12,968	14,109	15,368	17,734	20,268	23,769	27,610
COGS	7,097	7,826	8,897	9,828	10,576	12,187	14,033
Gross profit	5,870	6,283	6,471	7,907	9,692	11,582	13,577
	3,084	3,042	3,084	3,775	4,603	4,712	5,489
	2,787	3,241	3,387	4,132	5,089	6,869	8,088
OPM %	21.5%	23%	22%	23.3%	25.1%	28.9%	29.3%
Depreciation	372	387	401	429	443	467	556
Interest	4	6	5	15	7	10	7
	99	125	232	281	670	742	566
Profit before tax	2,510	2,972	3,212	3,969	5,308	7,135	8,092
Tax	686	872	812	983	1,323	1,812	2,029
Tax %	27.3%	29.4%	25.3%	24.8%	24.9%	25.4%	25.1%
	1,825	2,100	2,400	2,986	3,985	5,323	6,062
PAT margin %	14.1%	14.9%	15.6%	16.8%	19.7%	22.4%	22%
EPS (₹)	7.5	8.6	9.9	4.1	5.5	7.3	8.3
EPS adjusted (₹)	2.5	2.9	3.3	4.1	5.5	7.3	8.3
	37.4%	46.4%	45.7%	44%	40.4%	33%	30.2%
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	—	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	80	223	244	244	244	244	244	731	731	731	731
Reserves	8,164	7,512	7,772	8,968	9,828	10,816	12,042	13,131	15,595	19,243	23,257
Minority interest	6	14	13	13	14	15	16	18	18	19	19
	41	30	47	—	—	0	0	0	0	0	0
	7,478	9,817	10,885	11,596	14,263	18,415	21,608	21,612	23,182	20,839	20,530
Total equity & liabilities	15,769	17,596	18,961	20,821	24,348	29,490	33,911	35,491	39,527	40,832	44,538
	1,060	1,501	1,839	2,298	2,713	2,652	2,675	2,963	3,035	3,419	4,121
CWIP	140	414	444	323	247	397	446	361	456	477	486
Investments	0	491	937	964	1,110	1,306	1,572	650	682	743	800
	14,569	15,190	15,740	17,236	20,279	25,134	29,217	31,517	35,353	36,193	39,132
Total assets	15,769	17,596	18,961	20,821	24,348	29,490	33,911	35,491	39,527	40,832	44,538

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities
Exempted	0	0	0	0

SegmentFigure

Exempted · revenue

₹ crore by fiscal year

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	45.3%	44.5%	42.1%	44.6%	47.8%	48.7%	49.2%
EBITDA margin %	21.2%	22.8%	21.7%	23%	24.9%	28.8%	29.2%
EBIT margin %	18.4%	20%	19.1%	20.6%	22.7%	26.8%	27.1%
PAT margin %	14.1%	14.9%	15.6%	16.8%	19.7%	22.4%	22%
Working capital
Receivable days	189	170	145	145	133	140	170
Inventory days	3	232	229	239	257	273	265
Payable days	—	154	138	124	128	100	93
NWC days	—	248	236	261	262	313	342
Leverage
Current ratio	1.46	1.41	1.39	1.46	1.55	1.76	1.98
Debt to EBITDA	—	0	0	0	0	0	0
Debt to equity	—	0	0	0	0	0	0
Interest coverage	689.4	462.8	628	263.4	738.6	734.4	1,197.6
Asset turnover	0.53	0.48	0.45	0.5	0.51	0.58	0.62
Return ratios
Return on assets %	7.5%	7.1%	7.1%	8.4%	10.1%	13%	13.6%
Return on capital employed %	21.6%	24.4%	23.5%	26.9%	32.5%	36.9%	34.8%
Return on equity %	18.1%	19%	19.5%	21.5%	24.4%	26.6%	25.3%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	51.14%	51.14%	51.14%	51.14%	51.14%	51.14%	51.14%	51.14%	51.14%	51.14%	51.14%	51.14%
	17.18%	17.78%	17.56%	17.43%	17.27%	17.35%	17.56%	18.56%	18.15%	18.51%	19.5%	18.02%
	24.19%	23.37%	22.64%	20.61%	20.22%	20.94%	20.88%	20.6%	20.88%	20.48%	19.99%	21.02%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	7.49%	7.71%	8.66%	10.82%	11.37%	10.57%	10.42%	9.7%	9.83%	9.87%	9.37%	9.82%
No. of shareholders	—	—	—	—	—	—	—	—	24,98,588	25,43,622	25,30,896	26,04,298

Promoter holding up 0 percentage points since Sep 2023.

42 deals · 31 Aug 2021 – 24 Jun 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
24 Jun 2026	THE MTBJ LTD. AS TRST FOR GOVRNMNT PENSION INVSTMNT FUND MUTB400045794	Block	NSE	Buy	8,37,516	₹420.00	₹35.18 Cr
24 Jun 2026	THE MTBJ LTD. AS TRST FOR GOVRNMNT PENSION INVSTMNT FUND MTBJ400045828	Block	NSE	Sell	8,37,516	₹420.00	₹35.18 Cr
26 Sept 2025	MORGAN STANLEY ASIA SINGAPORE PTE	Block	NSE	Buy	3,94,579	₹403.15	₹15.91 Cr
26 Sept 2025	GOLDMAN SACHS BANK EUROPE SE - ODI	Block	NSE	Sell	3,94,579	₹403.15	₹15.91 Cr
15 Sept 2025	GOLDMAN SACHS (SINGAPORE) PTE - ODI	Block	NSE	Sell	29,84,304	₹399.30	₹119.16 Cr
15 Sept 2025	GOLDMAN SACHS BANK EUROPE SE - ODI	Block	NSE	Buy	29,84,304	₹399.30	₹119.16 Cr
11 Sept 2025	GOLDMAN SACHS (SINGAPORE) PTE - ODI	Block	NSE	Sell	24,65,814	₹386.00	₹95.18 Cr
11 Sept 2025	GOLDMAN SACHS BANK EUROPE SE - ODI	Block	NSE	Buy	24,65,814	₹386.00	₹95.18 Cr
14 Jul 2025	THE MTBJ LTD. AS TRST FOR GOVRNMNT PENSION INVSTMNT FUND MTBJ400045828	Block	NSE	Sell	13,46,928	₹409.30	₹55.13 Cr
14 Jul 2025	THE MTBJ LTD. AS TRST FOR GOVERNMENT PENSION INVESTMENT FUND MTBJ400045849	Block	NSE	Buy	13,46,928	₹409.30	₹55.13 Cr

1–10 of 42

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Mr. Manoj JainExecutive Director-Chairperson-MD
Mr. Damodar BhattadExecutive Director
Mr. Venkata Suresh Kumar KaipaExecutive Director
Mr. Rajnish SharmaExecutive Director
Mr. Harikumar Raghavan NairExecutive Director
Mr. Kamesh KasanaExecutive Director
Ms. Meera MohantyNon-Executive - Nominee Director
Mr. Binoy Kumar DasNon-Executive - Nominee Director
Mr. Pradeep TripathiNon-Executive - Independent Director
Mr. Bharatsinh Prabhatsinh ParmarNon-Executive - Independent Director
Mr. S SreenivasCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹388.3 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹388.8	+0.9	+0.2%	₹388.8	56,098	+204	4,599	1425
23 Nov 2026	₹390.8	+1	+0.3%	₹390.8	7,116	+149	347	1425
29 Dec 2026	₹393.1	-0.4	-0.1%	₹393.1	25	+25	33	1425

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

217

across 23 fund houses

Held by these funds

9.51%

of the company's equity

All mutual funds

14.99%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

217 schemes · 23 fund houses

		Shares
CPSE ETF	Nippon India Mutual Fund	9.73 Cr	4,031.79	21.18%	1.331%	+1.1 L
Portfolio of Kotak Flexi Cap FundNEW	Kotak Mahindra Mutual Fund	7.35 Cr	3,046.21	5.4%	1.005%	—
Nifty 50 ETF	SBI Mutual Fund	6.95 Cr	2,879.33	1.35%	0.95%	+3.65 L
BSE Sensex ETF	SBI Mutual Fund	4.79 Cr	1,982.6	1.63%	0.655%	+4.75 L
Portfolio of Kotak Mid Cap FundNEW	Kotak Mahindra Mutual Fund	3.36 Cr	1,392.04	1.95%	0.459%	—
Portfolio of Kotak Large & Mid Cap FundNEW	Kotak Mahindra Mutual Fund	2.8 Cr	1,160.46	3.59%	0.383%	—
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	2.61 Cr	1,079.79	19.53%	0.356%	+6.6 L
ETF NIFTY 50 BEES	Nippon India Mutual Fund	2.18 Cr	903.58	1.35%	0.298%	+4.38 L

1–8 of 217

1 / 28

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Jul 2026Transcript AI SummaryPPTREC
May 2026Transcript AI SummaryPPTREC

Documents link to external sources (exchange filings, company investor pages).

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

46

Final dividend13 Aug 2026 · ex-date₹0.55
Interim dividend6 Mar 2026 · ex-date₹1.95
Final dividend14 Aug 2025 · ex-date₹0.9
Interim dividend11 Mar 2025 · ex-date₹1.5
Final dividend14 Aug 2024 · ex-date₹0.8
Interim dividend22 Mar 2024 · ex-date₹0.7
Interim dividend9 Feb 2024 · ex-date₹0.7
Final dividend17 Aug 2023 · ex-date₹0.6
Interim dividend24 Mar 2023 · ex-date₹0.6
Interim dividend10 Feb 2023 · ex-date₹0.6
Final dividend8 Aug 2022 · ex-date₹1.5
Interim dividend24 Mar 2022 · ex-date₹1.5
Interim dividend9 Feb 2022 · ex-date₹1.5
Final dividend14 Sept 2021 · ex-date₹1.2
Interim dividend23 Mar 2021 · ex-date₹1.4
Interim dividend8 Feb 2021 · ex-date₹1.4
Final dividend15 Sept 2020 · ex-date₹1.4
Interim dividend11 Feb 2020 · ex-date₹1.4
Final dividend20 Aug 2019 · ex-date₹1.7
Interim dividend27 Mar 2019 · ex-date₹0.7
Interim dividend19 Mar 2019 · ex-date₹0.7
Interim dividend8 Feb 2019 · ex-date₹0.3
Final dividend20 Aug 2018 · ex-date₹0.4
Interim dividend8 Feb 2018 · ex-date₹1.6
Final dividend14 Aug 2017 · ex-date₹1.05
Interim dividend29 Mar 2017 · ex-date₹0.9
Interim dividend2 Feb 2017 · ex-date₹3
Final dividend18 Aug 2016 · ex-date₹14.5
Interim dividend4 Feb 2016 · ex-date₹2.5
Final dividend10 Aug 2015 · ex-date₹23.2
Interim dividend28 Jan 2015 · ex-date₹6
Final dividend12 Sept 2014 · ex-date₹17.3
Interim dividend29 Jan 2014 · ex-date₹6
Final dividend6 Sept 2013 · ex-date₹16.3
Interim dividend30 Jan 2013 · ex-date₹6
Final dividend7 Sept 2012 · ex-date₹10.8
Interim dividend1 Feb 2012 · ex-date₹10
Final dividend13 Sept 2011 · ex-date₹15.6
Interim dividend2 Feb 2011 · ex-date₹6
Final dividend13 Sept 2010 · ex-date₹13.2
Interim dividend3 Feb 2010 · ex-date₹6
Final dividend14 Sept 2009 · ex-date₹12.7
Interim dividend28 Jan 2009 · ex-date₹6
Final dividend12 Sept 2008 · ex-date₹14.7
Interim dividend30 Jan 2008 · ex-date₹6
Final dividend7 Sept 2007 · ex-date₹14

1

Board meeting to consider results27 Jul 2026

1

Face value ₹10 → ₹116 Mar 2017 · ex-date

1–3 of 4

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

51 announcementsExport CSV

30 Sept 2026, 4:53 pmCompany Update

Intimation Of ESG Rating.

General PDF

28 Sept 2026, 10:35 amInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

17 Sept 2026, 4:41 pmCompany Update

Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order

Award of Order / Receipt of Order PDF

11 Sept 2026, 5:07 pmCompany Update

Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s

Appointment of Statutory Auditor/s PDF

8 Sept 2026, 2:32 pmCorp. Action

Announcement under Regulation 30 (LODR)-Date of payment of Dividend

Date of payment of Dividend PDF

2 Sept 2026, 5:31 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

28 Aug 2026, 7:53 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

28 Aug 2026, 7:43 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

Date	Category	Subject	Filing
30 Sept 2026, 4:53 pm	Company Update General	Intimation Of ESG Rating.	PDF
28 Sept 2026, 10:35 am	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	45.3%	44.5%	42.1%	44.6%	47.8%	48.7%	49.2%
EBITDA margin %	21.2%	22.8%	21.7%	23%	24.9%	28.8%	29.2%
EBIT margin %	18.4%	20%	19.1%	20.6%	22.7%	26.8%	27.1%
PAT margin %	14.1%	14.9%	15.6%	16.8%	19.7%	22.4%	22%
Working capital
Receivable days	189	170	145	145	133	140	170
Inventory days	3	232	229	239	257	273	265
Payable days	—	154	138	124	128	100	93
NWC days	—	248	236	261	262	313	342
Leverage
Current ratio	1.46	1.41	1.39	1.46	1.55	1.76	1.98
Debt to EBITDA	—	0	0	0	0	0	0
Debt to equity	—	0	0	0	0	0	0
Interest coverage	689.4	462.8	628	263.4	738.6	734.4	1,197.6
Asset turnover	0.53	0.48	0.45	0.5	0.51	0.58	0.62
Return ratios
Return on assets %	7.5%	7.1%	7.1%	8.4%	10.1%	13%	13.6%
Return on capital employed %	21.6%	24.4%	23.5%	26.9%	32.5%	36.9%	34.8%
Return on equity %	18.1%	19%	19.5%	21.5%	24.4%	26.6%	25.3%

30

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
22	+22	23	₹71.0	320	₹0.4	127	+49	54
0	0	0	₹0.0	325	₹0.5	14	+13	21
0	0	0	₹0.0	330	₹0.6	122	+80	101
0	0	0	₹0.0	335	₹0.6	7	+7	7
3	0	0	₹47.5	340	₹0.8	170	+15	373
0	0	0	₹0.0	345	₹0.9	48	+34	44
14	+1	8	₹39.3	350	₹1.2	263	+59	490
19	+12	15	₹36.8	355	₹1.5	80	-9	68

Shaded cells are in the money against the underlying close. Green and red mark the move against the previous close — on the premium for LTP, on the position for change in OI. Settlement prices are the exchange's, not the last trade.

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,260	-61	-687	1,514	2,533	5,093	4,207	1,267	4,659	587	1,541
	-1,470	3,115	-6	-896	-639	-2,595	-4,872	2,691	-5,924	617	1,730
	-318	-2,857	-1,202	-663	-1,059	-1,076	-1,078	-1,313	-1,475	-1,696	-2,097
Net cash flow	472	197	-1,895	—	834	1,422	-1,742	2,645	-2,739	-493	1,175
Free cash flow	1,601	-855	—	752	1,790	4,624	3,653	676	4,007	-425	556
CFO / Operating profit %	—	—	—	—	91.9%	158.6%	125.9%	31%	92.3%	8.6%	19.2%

Bharat Electronics

About

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Futures3

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Dividends46

Board meetings1

Stock splits1

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Futures3

Option chain30

Dividends46

Board meetings1

Stock splits1

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Segment results

Exempted · revenue

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Return on equity

3

46

1

1

3

30

46

1

1