Bharat Dynamics Share Price & Earnings Call Analysis

Financials of Bharat Dynamics

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Bharat Dynamics

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +7982986166028541915458321,7772481,147567480
Expenses +6153304824835382434467051,478293960541425
Operating Profit183-33134119316-5299127299-451882655
OPM %23%-11%22%20%37%-27%18%15%17%-18%16%5%12%
Other Income +371077888888086841008712197119
Interest1111111111111
Depreciation14171716161618182018191920
Profit before tax206571941893881116619337823288103154
Tax %26%27%24%29%26%36%26%24%28%21%25%29%26%
Net Profit +1534214713528971231472731821673113
EPS in Rs4.171.144.013.687.880.203.344.017.440.505.891.993.09

Financials of Bharat Dynamics

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +2,8414,0794,8874,5883,0693,1051,9142,8172,4892,3693,3452,442
Expenses +2,5643,5644,3173,9192,4462,3491,5682,0902,0801,8322,8722,218
Operating Profit277515569669623756346727409537473223
OPM %10%13%12%15%20%24%18%26%16%23%14%9%
Other Income +439385300173136889578155362350424
Interest554455556443
Depreciation675362638296959077677176
Profit before tax644841803774671742341710482828749568
Tax %31%33%35%32%37%28%24%30%27%26%27%26%
Net Profit +444562524528423535258500352613550420
EPS in Rs1,928.482,810.352,183.5814.4111.5314.597.0313.649.6116.7114.9911.47
Dividend Payout %19%30%30%25%30%30%52%30%49%32%31%0%

Financials of Bharat Dynamics

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital11598122183183183183183183183183183
Reserves1,5381,7532,0731,7732,0852,4242,5012,8473,0283,4543,8264,058
Borrowings +044451511109870
Other Liabilities +6,7597,7866,2084,6973,2503,1283,3343,5955,5356,7817,79810,020
Total Liabilities8,4129,6418,4076,6575,5235,7506,0306,6368,75610,42611,81414,262
Fixed Assets +5186977578689579329158748098248571,003
CWIP142126136130474222417473230174
Investments33323944500044
Other Assets +7,7498,8157,5115,4204,5164,7715,0895,7217,8739,53010,72313,081
Total Assets8,4129,6418,4076,6575,5235,7506,0306,6368,75610,42611,81414,262

Financials of Bharat Dynamics

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
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
Free Cash Flow-94368-556-510-54471,0124282,022331-115
CFO/OP-197%109%-15%-13%61%90%332%101%574%106%78%

Financials of Bharat Dynamics

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days431312616340623927489063
Inventory Days2863022762543802226365345848415911,381
Days Payable10020218612911583322171142325328846
Cash Conversion Cycle230114101186328178375403469564354598
Working Capital Days-126-106-1144128195169144237322207254
ROCE %48%40%37%32%31%13%26%16%24%20%14%