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Bharat Electronics Ltd

Q1 FY27Aerospace & Defense

Bharat Electronics Q1 FY27 earnings call: Revenue & Margins

Q1 FY27 earnings call: what management said on revenue, margins and capex.

Price₹377
Market cap₹2.8L Cr
P/E44.9
Updated16 Oct 2026
Read4 min read

Bharat Electronics Ltd Q1 FY27 key numbers

Revenue
Planned R&D investment is over INR 2,200 crores and capital expenditure exceeds INR 1,200 crores.

As stated in Bharat Electronics Ltd's Q1 FY27 earnings call transcript · published 25 Aug 2026. Reported figures, not investment advice.

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 16 Oct 2026.

Revenue & Sales Performance

Moderate growth
  • 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.

2 more points from Bharat Electronics Ltd's call on revenue

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Profitability & Margins

See what Bharat Electronics Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex planned
  • 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.

2 more points from Bharat Electronics Ltd's call on capex

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Top-ranked in Aerospace & Defense

Ranked on what management guided this quarter

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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

Order book rising
  • 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.

2 more points from Bharat Electronics Ltd's call on order book

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What the Q1 FY27 call signalled

2 of 4 strong

RevenueModerate growth
MarginMargins steady
CapexCapex planned
Order bookOrder book rising

Bharat Electronics Ltd — Quarterly revenue & net profit

Revenue Net profit
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26
Jun 2026Q1 FY27
Sep 2026Q2 FY27

Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹7.3K Cr, net profit ₹1.5K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

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What Bharat Electron's management said in earlier quarters

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  • DCX Systems (Q1 FY27)

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  • Shree Refrigerat (Q1 FY27)

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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 44.9 with a market cap of ₹275,759 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 the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.