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Bharat Dynamics Ltd

₹ 1,5420.05%
06 Jan – close price
🔗bdl-india.in/Home-Page•BSE: 541143•NSE: BDL
Market Cap₹ 56,542 Cr.
Current Price₹ 1,542
High / Low₹ 2,097
Stock P/E86.4
Book Value₹ 115
Dividend Yield0.30 %
ROCE19.7 %
ROE14.4 %
Face Value₹ 5.00
Sales₹ 4,004 Cr.
OPM14.2 %
Mar Cap₹ 56,542 Cr.

ABOUT

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

KEY POINTS

Product PortfolioThe company offers a comprehensive defence portfolio including Surface-to-Air Missiles, Air-to-Air Missiles, Anti-Tank Guided Missiles, torpedoes, and launchers. It also offers counter-measure systems and specialised test equipment for missile and underwater weapon platforms.[1]

Also present in buckets:
Aggressive Growth TriggersAggressive Growth TriggersAggressive Growth TriggersExcellent ResultsOrder Book PositionOrder Book PositionOrder Book PositionLarge Order ReceiptsLarge Order ReceiptsLarge Order ReceiptsRed Flags And Poor PerformanceRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Hind.Aeronautics4516.0035.66302018.790.891669.0510.826628.6110.9233.8832104.7830.588469.331669.078.148.820.00
2.Bharat Electron413.1053.02301966.960.581287.1617.885792.0925.7838.8825152.1129.525695.671287.7714.0013.210.00
3.Bharat Dynamics1542.5086.4456542.270.30215.8876.191147.03110.5519.664004.0814.19654.13215.8813.414.940.00
4.Garden Reach Sh.2507.5046.6028723.910.55153.7957.301677.3845.4936.645900.309.56616.41153.7912.515.020.01
5.Data Pattern2678.6064.2414995.870.2949.1962.45307.46237.7921.00920.0433.05233.4349.199.7512.180.00
6.Zen Technologies1350.2049.3112191.000.1561.91-6.29173.57-28.2337.22808.9738.44247.2558.736.7921.380.01
7.Apollo Micro Sys266.55111.739523.630.0933.05108.25225.2640.1714.54669.0026.0485.2433.058.255.200.29
–Median: 26 Co.652.9561.585073.610.1115.6438.59130.3819.2118.09533.4321.8244.5615.648.147.670.08

Quarterly Results

Standalone figures in ₹ crores

Dec 2022Dec 2023Dec 2024Jun 2023Jun 2024Jun 2025Mar 2023Mar 2024Mar 2025Sep 2022Sep 2023Sep 2024Sep 2025
Sales
4626028322981912487988541,7775356165451,147
Expenses
3734837053302432936155381,478441482446960
Operating Profit
89119127-33-52-451833162999413499188
Other Income
36888410780873788100457886121
Profit before tax
106189193571123206388378117194166288
Tax %
21%29%24%27%36%21%26%26%28%35%24%26%25%
Net Profit
841351474271815328927376147123216
EPS in Rs
2.283.684.011.140.200.504.177.887.442.074.013.345.89

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
1,0762,8414,0794,8874,5883,0693,1051,9142,8172,4892,3693,3454,004
Expenses
1,0882,5643,5644,3173,9192,4462,3491,5682,0902,0801,8322,8723,436
Operating Profit
-12277515569669623756346727409537473568
Other Income
464439385300173136889578155362350391
Interest
1554455556443
Depreciation
42675362638296959077677174
Profit before tax
409644841803774671742341710482828749882
Net Profit
279444562524528423535258500352613550654
EPS in Rs
1,212.131,928.482,810.352,183.5814.4111.5314.597.0313.649.6116.7114.9917.84
Dividend Payout %
21%19%30%30%25%30%30%52%30%49%32%31%–

Compounded Profit Growth

10 Years:2%
5 Years:1%
3 Years:2%
TTM:18%

Compounded Sales Growth

10 Years:2%
5 Years:2%
3 Years:6%
TTM:83%

Return on Equity

10 Years:19%
5 Years:14%
3 Years:15%
Last Year:14%

Stock Price CAGR

10 Years:%
5 Years:55%
3 Years:49%
1 Year:30%

Balance Sheet

Standalone figures in ₹ crores

Mar 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
11511598122183183183183183183183183183
Reserves
9361,5381,7532,0731,7732,0852,4242,5012,8473,0283,4543,8264,034
Borrowings
0044451511109871
Other Liabilities
6,1996,7597,7866,2084,6973,2503,1283,3343,5955,5356,7817,7988,849
Total Liabilities
7,2518,4129,6418,4076,6575,5235,7506,0306,6368,75610,42611,81413,068
Fixed Assets
277518697757868957932915874809824857951
Gross Block
7125868198701,0491,2201,2911,3691,4511,4161,4971,601–
Accumulated Depreciation
43569122113180263359454577607673743–
CWIP
70142126136130474222417473230171
Investments
133323944500044
Other Assets
6,9047,7498,8157,5115,4204,5164,7715,0895,7217,8739,53010,72311,942
Total Assets
7,2518,4129,6418,4076,6575,5235,7506,0306,6368,75610,42611,81413,068

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
–-765284-420-342845041,0685302,130412167
Cash from Investing Activity
–23914931,047170-33-734-573-1,171-722-407
Cash from Financing Activity
–-72-324-166-769-268-191-173-149-171-148-220
Net Cash Flow
–-598109-583-63-15280162-192788-459-460

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
934313126163406239274890
Inventory Days
534286302276254380222636534584841591
Days Payable
15310020218612911583322171142325328
Cash Conversion Cycle
475230114101186328178375403469564354
Working Capital Days
-1,137-126-106-1144128195169144237322207
ROCE %
46%–48%40%37%32%31%13%26%16%24%20%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
74.93%74.93%74.93%74.93%74.93%74.93%74.93%74.93%74.93%74.93%74.93%74.93%
FIIs
3.24%2.83%3.36%3.09%3.09%2.95%3.06%2.94%3.09%3.25%3.77%2.43%
DIIs
12.39%14.10%13.78%12.81%13.32%12.39%9.52%8.46%8.70%9.45%10.10%11.30%
Public
9.43%8.15%7.92%9.17%8.64%9.72%12.49%13.67%13.26%12.35%11.19%11.34%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Bharat Dynamics Limited Confirms Non-Large Corporate Status for Debt Issuance

8th April 2026, 10:37 pm

Bharat Dynamics Limited Confirms SEBI Dematerialization Compliance for Q4 FY26

7th April 2026, 10:46 pm

Bharat Dynamics Ltd Announces Retirement of GM (HR)

1st April 2026, 5:52 pm

Bharat Dynamics Limited Announces Trading Window Closure from April 1st

27th March 2026, 4:58 pm

Bharat Dynamics Completes Advanced Akash Weapon System FOPM, Eyes Early Delivery

26th March 2026, 6:55 pm

Published by Other Websites

External media mentions & references

Nuvama Names Top 3 Defence Stocks: Up to 43% Upside Seen

14th April 2026, 6:52 am

India Defense Boost: BEL, HAL, BDL Eye ₹2.38 Lakh Crore Deals Amid Valuation Worries

12th April 2026, 6:49 am

Indian Defence Sector: Strong Q4 Growth Faces Geopolitical Cost Pressures

6th April 2026, 4:45 pm

India Defence Exports Smash Record ₹38,424 Cr, Surge 62%

2nd April 2026, 4:05 pm

Defence Stocks Surge 7%; GRSE, Mazagon Jump 19% On Mega Orders

1st April 2026, 11:23 am

News Articles

Editorial & research coverage

India Defence Sector Surges on ₹3.6T Procurement; Budget Boosts Outlook
India Defence Sector Surges on ₹3.6T Procurement; Budget Boosts Outlook

13th February 2026, 12:00 pm

BDL Stock: Export Ambitions Mask Execution Risks
BDL Stock: Export Ambitions Mask Execution Risks

13th February 2026, 9:30 am

Defence Stocks Tumble on Delivery Delays; HAL Leads Losses
Defence Stocks Tumble on Delivery Delays; HAL Leads Losses

5th February 2026, 11:36 am

Bharat Dynamics Plunges 6% on Weak Q3, Budget Disappointment
Bharat Dynamics Plunges 6% on Weak Q3, Budget Disappointment

2nd February 2026, 12:28 pm

Defence, Rail Stocks Eye Growth Amid Budget Clarity; Caution Advised
Defence, Rail Stocks Eye Growth Amid Budget Clarity; Caution Advised

2nd February 2026, 12:28 pm

Documents

Announcements

Closure of Trading Window

26 Dec - Trading window closed 1 Jan 2026 until 48 hours after unaudited Q3/9M results for 31 Dec 2025.

Announcement under Regulation 30 (LODR)-Change in Management

1 Dec 2025 - Promotions to General Manager effective 01-01-2025; H. Shankara Narayana retired 30-11-2025.

Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order

1 Dec 2025 - Indian Army orders ATGMs and SAMs worth Rs 2461.62 Crore; ATGMs 42 months, SAMs 12 months.

Announcement Under Regulation 30

28 Nov 2025 - BSE and NSE fined BDL Rs.5,42,800 each on 28-Nov-2025 for Regulation 17(1) non-compliance; waiver to be sought.

Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order

13 Nov 2025 - Signed Rs2,095.70 crore contract on 13-Nov-2025 to supply Invar anti-tank missiles to Indian Army over three years.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

(from bse)

Financial Year 2018

(from bse)

Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from bse)

Financial Year 2012

(from bse)

Financial Year 2011

(from bse)

Credit Ratings

Rating update

19 Nov 2024 from crisil

Rating update

25 Aug 2023 from crisil

Rating update

7 Jun 2022 from crisil

Rating update

31 Mar 2022 from crisil

Rating update

27 Jan 2021 from crisil

Rating update

23 Oct 2019 from crisil

Concalls

Nov 2024

PPT

Jun 2024

PPT

Feb 2024

PPT

Nov 2023

PPT

Jun 2023

PPT

Mar 2023

PPT

Sep 2022

PPT

Jun 2022

PPT

Dec 2021

PPT

Jul 2020

PPT

Stock Analysis

Description

  1. Bharat Dynamics Limited (BDL) is a Government of India Enterprise engaged in the manufacturing of guided missiles and allied defence equipment for the Indian Armed Forces.

Corporate Announcements

8th Apr 26
Impact Rating: 7
Bharat Dynamics Limited has confirmed it is not a large corporate under SEBI regulations for FY 2026-27. This classification exempts the company from specific debt issuance rules for large entities, supported by Nil outstanding borrowing reported as of March 31, 2026.
7th Apr 26
Impact Rating: 3
Bharat Dynamics Limited confirmed compliance with SEBI regulations for the quarter ended March 31, 2026. Its Registrar and Share Transfer Agent verified the proper processing, mutilation, and cancellation of dematerialized securities.
1st Apr 26
Impact Rating: 4
Bharat Dynamics Limited is reporting the retirement of Shri N. Satyanarayana, GM (HR), on March 31, 2026, as he reaches superannuation age. This announcement adheres to SEBI LODR regulations, detailing routine senior management changes.
27th Mar 26
Impact Rating: 5
Bharat Dynamics Limited (BDL) is closing its trading window from April 1, 2026, as per SEBI regulations. This closure applies to designated persons and their relatives and will end 48 hours after the company announces its audited financial results for the year ending March 31, 2026.
26th Mar 26
Impact Rating: 8
Bharat Dynamics Limited has achieved a milestone with the completion of the First-off Production Model (FOPM) of the Advanced Akash Weapon System, signalling enhanced performance and readiness for delivery to Indian armed forces.