Bharat Electronics Ltd
Bharat Electronics Ltd Q1 FY27 Results & Concall Highlights: Revenue, Margins & Order Book
Q1 FY27 earnings call: what management guided on revenue, margins and order book.
What the Q1 FY27 call signalled
2 of 4 strong
Not discussed on this call: fundraise.
The short version
Bharat Electronics Limited (BEL) expects a revenue growth of 15% for the financial year 2026-27. Bharat Electronics Limited (BEL) projects a revenue growth of around 15% for FY27, with the possibility of slightly exceeding this target based on Q1 performance (25.27% growth achieved).
From Bharat Electronics Ltd's Q1 FY27 earnings-call transcript · updated 25 Aug 2026.
Revenue & Sales Performance
- Bharat Electronics Limited (BEL) expects a revenue growth of 15% for the financial year 2026-27.
- The company met its internal expectations in Q1 and is confident of achieving the guidance for the year.
- Order inflow is anticipated to be more than INR 20,000 crores, including significant programs like QRSAM.
- Planned R&D investment is over INR 2,200 crores and capital expenditure exceeds INR 1,200 crores.
- BEL aims to maintain an EBITDA margin between 21% to 23%.
- Export revenue targets include gradual increase, aiming to achieve 10% of total revenues through exports within five years.
- Major programs like Shatrughat, Samaghat (~INR 9,000 crores), Shakti Phase 4 (~INR 2,000 crores), and HAMMER (~INR 2,500 crores) expected to contribute significantly.
- Other key projects like Akash Army, D-29 EW systems, and LCA LRUs also expected to drive revenue growth.
- Overall, BEL plans steady increases backed by strong order book and new program executions.
Profitability & Margins
See what Bharat Electronics Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Bharat Electronics Limited (BEL) has planned a capex of more than INR 1,200 crores for the current financial year.
- This capex is primarily for production-related infrastructure and capacity enhancement.
- Indigenization efforts are funded separately through the R&D budget, not from capex.
- R&D budget for this year is allocated at more than INR 2,200 crores, focusing on niche technology development, indigenization, and collaborative R&D.
- BEL aims for zero import of any subsystem or module (except components like semiconductors) within the next 5 years, supported by its upcoming formal indigenization policy.
- Strategic investments include partnering with MSMEs and startups to support the indigenization drive and innovation.
- BEL continues to invest strategically in large defense projects such as QRSAM, LRSAM, and other key missile and naval programs.
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
See what Bharat Electronics Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Current order book stands around INR 72,000 crores.
- Top 7-8 major projects constitute about INR 20,000 crores of this, including Fuzes, LRSAM, LCA LRUs, BMP-2 upgrade, Ashwini Radar, EW suite for Mi-17 V5, MPR Arudhra.
- Total expected order inflow for the financial year is INR 55,000+ crores including QRSAM.
- Major upcoming orders include Shatrughat, Samaghat (expected in 3-6 months), NGC and P75I naval programs (high probability), HAMMER project and Shakti Phase 4.
- QRSAM order is delayed and expected by Q1/Q2 FY27, awaiting CCS approval.
- Export order book is approximately USD 465 million, with a target to achieve USD 300 million orders this year.
- BEL aims for 10% revenue from exports in next five years.
Bharat Electronics Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: 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
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Frequently Asked Questions
What were Bharat Electronics Ltd Q1 FY27 results?
Bharat Electronics Limited (BEL) expects a revenue growth of 15% for the financial year 2026-27. Bharat Electronics Limited (BEL) projects a revenue growth of around 15% for FY27, with the possibility of slightly exceeding this target based on Q1 performance (25.27% growth achieved).
What is Bharat Electronics Ltd share price analysis?
Bharat Electronics Ltd currently shows a below-average growth signal. 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 Electronics Ltd planning capital expenditure?
Bharat Electronics Limited (BEL) has planned a capex of more than INR 1,200 crores for the current financial year.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.