In Week of Mar 28, 2026, Bharat Electronics Ltd (Aerospace & Defence - Equipments) is outperforming Nifty 500 with +13.2% relative strength. Fundamentals: Average. On a 7-week streak.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Based on Q3 FY26 (ended December 31, 2025) earnings • Updated Feb 22, 2026
What: Finalization of New Generation Corvettes order expected before March 2026
Impact: +₹5000 Cr revenue
“We are confident that before March we will get 2 to 3,000 cr minimum this year”
What: Execution of key defense projects including LRSAM, Akash Army, HimShakti
Impact: +₹5000 Cr revenue
“For Q4 FY26, planned executions include LRSAM, Akash Army, HimShakti, Arudhra MPR, D29 EW system, BMP-2 upgrade, and LCA LRUs, expected to contribute ₹4,000 to ₹5,000 crore”
What: Increased indigenization and value addition driving margin improvement
“Drivers for margin expansion include increased indigenization and value addition”
Earnings deceleration risks from management commentary
Trigger: If order not secured by March 31, 2026
Impact: -100 bps margin impact
Management view: Regarding NGC yes we told after Q2 also that there is a chance of spilling over order to next financial year.
Monitor: Order book update in March 2026
Trigger: If Q4 product mix differs from YTD
Impact: -200 bps margin impact
Management view: No as of now we maintained aa margin of 27% what you have guided for the current year because it's a composition of products which we sell.
Monitor: Q4 EBITDA margin vs guidance
Key quotes from recent conference calls
“We are maintaining that and we are confident that we will achieve or exceed this guidance. — BEL Management”
“The EBITDA margin improved to 30% up to Q3 FY26 from 28% in the previous year — BEL Management”
“The company's order book stood at ₹73,015 crore as of January 1, 2026, and further increased to ₹73,450 crore by January 28, 2026. — BEL Management”
“For Q4 FY26, planned executions include LRSAM, Akash Army, HimShakti, Arudhra MPR, D29 EW system, BMP-2 upgrade, and LCA LRUs, expected to contribute ₹4,000 to ₹5,000 crore. — BEL Management”
Forward-looking targets from management for FY26
Implied PAT Growth
20%
OPM Guidance
27%
Key Milestones
• NGC order of ₹3,000-5,000 Cr by March 2026
• 95% on-time delivery target for current year
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +24% | +16% | Stable |
| PAT (Net Profit) | +20% | +30% | Stable |
| OPM | 30.0% | +100 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Feb 22, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Bharat Electronics Ltd's latest quarterly results (Dec 2025) show
Bharat Electronics Ltd's profit is growing with an stable trend.
Bharat Electronics Ltd's revenue growth trend is stable.
Bharat Electronics Ltd's operating margin is volatile.
Bharat Electronics Ltd's long-term compounding rates
Bharat Electronics Ltd's earnings growth is stable with mixed signals on a sequential basis.
Bharat Electronics Ltd's trailing twelve month (TTM) performance
Bharat Electronics Ltd appears significantly undervalued based on our fair value analysis.
Bharat Electronics Ltd's current PE ratio is 49.6x.
Bharat Electronics Ltd's current PE is 49.6x.
Bharat Electronics Ltd's price-to-book ratio is 13.7x.
Bharat Electronics Ltd is rated Average with a fundamental score of 59.28/100. This score is calculated from objective financial metrics
Bharat Electronics Ltd has a debt-to-equity ratio of N/A.
Bharat Electronics Ltd's return ratios over recent years
Bharat Electronics Ltd's operating cash flow is positive (FY2025).
Bharat Electronics Ltd's current dividend yield is 0.59%.
Bharat Electronics Ltd's shareholding pattern (Dec 2025)
Bharat Electronics Ltd's promoter holding has remained stable recently.
Bharat Electronics Ltd has been outperforming Nifty 500 for 7 consecutive weeks, indicating building momentum.
Bharat Electronics Ltd is a re-entry — it briefly dropped off the outperformance list but has now returned. Re-entries can signal renewed strength.
Bharat Electronics Ltd has 3 key growth catalysts identified from recent earnings analysis
Bharat Electronics Ltd has 2 key risks worth monitoring
In Q3 FY26 (ended December 31, 2025), Bharat Electronics Ltd's management highlighted
Bharat Electronics Ltd's management has provided the following forward guidance for FY26
Based on quantitative research signals, here is why Bharat Electronics Ltd may be worth studying
Bharat Electronics Ltd investment thesis summary:
Bharat Electronics Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
