Arthneeti

Bharat Dynamics Q4 FY26 Share Price & Earnings Call Analysis

₹996.00+2.26% today
Market cap
₹36,510 Cr
P/E
70.11
ROE
10.19%
PEG
11.53
Price to sales
13.20
Debt to equity
0.00
52W high / low
₹1,467 / ₹974
Sales growth (5Y)
4.99%
EBITDA margin
12.72%
Net profit margin
17.21%
Promoter holding
74.93%
Sales (last year)
₹2,766 Cr

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

Potential multibaggers · Q2 FY27

Potential multibaggers in Aerospace & Defense
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Bharat Dynamics rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Aerospace & Defense companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹5,129 Cr193.7
240%+Up 0–2%₹1,098 Cr40.9
340%+Flat₹14,818 Cr106.9
440%+Flat₹14,300 Cr—
540%+Flat₹8,040 Cr91.2
640%+Flat₹7,979 Cr243.3

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Bharat Dynamics announcements

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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%
7out of 100

Momentum score · price trend

7 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−34.9%17%
Last 6 months−27.4%10%
Last 3 months−21.3%17%

The price is 50.6% below its all-time high of ₹2,015.5 (30 May 2025). Stocks more than 20% below their peak have their score halved, so 14 became 7.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Bharat Dynamics: 0.4 × 17 + 0.4 × 10 + 0.2 × 17 = 14, halved to 7 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Bharat Dynamics's management said in earlier quarters

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