Bharat Electron
Bharat Electron Q1 FY26 earnings call: Revenue & Margins
Q1 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Bharat Electronics Limited (BEL) aims to sustain revenue growth of at least 15% annually over the next 3-4 years. Bharat Electronics Limited (BEL) targets a revenue growth rate of 15% to 17.5%+ annually over the next 3-4 years, supported by a strong order book and new programs like QRSAM and Kusha (INR30,000-40,000 crores).
From Bharat Electron's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Bharat Electronics Limited (BEL) aims to sustain revenue growth of at least 15% annually over the next 3-4 years.
- Internal targets are higher, around 16% to 17.5% revenue growth, driven by multiple large projects in the pipeline such as QRSAM, Kusha, and other missile programs.
- Order book stands strong at over INR 80,000 crores, including upcoming orders worth INR 40,000-50,000 crores for programs like QRSAM.
- Exports are targeted to grow at more than 20% year-on-year, aiming to reach 10% of total turnover from current 4-5% in the next five years.
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Profitability & Margins
See what Bharat Electron said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Bharat Electronics Limited (BEL) is making proactive investments in R&D, focusing on emerging technologies such as AI, ML, and quantum technology.
- The company is hiring around 200 new technical employees from premier institutes to strengthen its R&D capabilities.
- BEL is investing between 6% to 7% of its turnover annually on R&D, translating to INR 1,600 to 1,800 crores this year.
- Strategic investments include development and indigenization programs for SONAR systems in partnership with NPOL.
- BEL is working closely with startups and defense users through AI incubation centers for the Navy and Army to develop cutting-edge technological solutions.
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Top-ranked in Aerospace & Defense
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- As of July 1, 2025, Bharat Electronics Limited's order book stands at approximately INR74,859 crores.
- Post July 1, 2025, an additional INR2,600 crores worth of orders have been received.
- Major pending orders include:
- LRSAM program: INR5,000+ crores
- Fuses: INR4,500+ crores
- Akash Army: INR3,000 crores
- BMP upgrade: INR3,000 crores
- Ashwini, Arudhra radar: INR2,500 crores
- Shakti EW system: INR2,000 crores
- The top 10-12 programs make up around INR35,000 to INR40,000 crores of the order book.
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Bharat Electron — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹10.2K Cr, net profit ₹2.2K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Bharat Electronics Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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Frequently Asked Questions
What were Bharat Electron Q1 FY26 results?
Bharat Electronics Limited (BEL) aims to sustain revenue growth of at least 15% annually over the next 3-4 years. Bharat Electronics Limited (BEL) targets a revenue growth rate of 15% to 17.5%+ annually over the next 3-4 years, supported by a strong order book and new programs like QRSAM and Kusha (INR30,000-40,000 crores).
What is Bharat Electron share price analysis?
Bharat Electron currently shows a neutral. The stock trades at a P/E of 49.2 with a market cap of ₹302,625 Cr. Investors should review the full earnings analysis for detailed insights.
Is Bharat Electron planning capital expenditure?
Bharat Electronics Limited (BEL) is making proactive investments in R&D, focusing on emerging technologies such as AI, ML, and quantum technology.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.