Synopsis:
A leading defence PSU has continued its strong order momentum, securing nearly Rs. 800 crore worth of fresh orders in just ten days. With a robust Rs. 75,000 crore order book and multiple projects in the pipeline, the company remains confident of exceeding its annual order inflow guidance.
Shares of a leading defence manufacturer extended gains after the company announced new orders across communication, radar, and combat systems, highlighting continued strength in India’s defence electronics segment. Investor sentiment remained positive following the company’s disclosure of steady margins and a growing order book.
Bharat Electronics Limited (BEL), with a market capitalisation of Rs. 3,04,708.13 crore, opened at Rs. 416 on Monday against the previous close of Rs. 414.25. The stock touched an intraday high of Rs. 420.30, marking a rise of about 1.46 percent from its previous close.
What’s the News?
Navratna Defence Public Sector Undertaking Bharat Electronics Limited (BEL) has secured additional orders worth Rs. 792 crore since its last disclosure on 30th October 2025. The latest wins include contracts for Defence network upgrades, radio communication systems, radars, communication equipment, drones, combat management systems, gun sighting systems, upgrades, spares, and related services.
Order Book Details
As of 1st October 2025, BEL’s order book stood at Rs. 74,453 crore, which increased to Rs. 75,600 crore by 4th November 2025. The company has received orders worth Rs. 14,750 crore as of 4th November.
Management highlighted that the product mix for the first and second halves of the financial year remains broadly similar, covering over 350 main equipment and more than 1,000 sub-equipment line items. This diversified portfolio ensures stable margins across segments. BEL reiterated its confidence in maintaining an EBITDA margin of over 27 percent for the full year.
Management further stated that several large projects are in the pipeline, including the QRSAM system (expected by March), Shatrughat, Samaghat, next-generation communication systems, additional LCA orders from HAL, Shakti, GBMES, mountain radar, and HAMMER systems. These upcoming contracts are expected to help BEL surpass its annual target of Rs. 27,000 crore in order inflows, excluding QRSAM.
As of 1st October 2025, key orders within the order book include LRSAM (Rs. 5,000 crore), electronic fuses (Rs. 4,500 crore), BMP-2 upgrade (Rs. 3,000 crore), and Akash Army (Rs. 2,700 crore). The top seven contracts together amount to approximately Rs. 25,000 crore of the total Rs. 74,000 crore order book at that date.
Financial Snapshot
Quarter-on-Quarter (QoQ): Revenue rose from Rs. 4,440 crore to Rs. 5,792 crore, an increase of 30.4 percent. Operating profit improved from Rs. 1,238 crore to Rs. 1,702 crore, up 37.5 percent. Profit before tax climbed from Rs. 1,279 crore to Rs. 1,728 crore, marking a 35.1 percent growth. Net profit increased from Rs. 969 crore to Rs. 1,287 crore, up 32.8 percent sequentially.
Year-on-Year (YoY): Revenue grew from Rs. 4,605 crore to Rs. 5,792 crore, a 25.7 percent rise. Operating profit rose from Rs. 1,400 crore to Rs. 1,702 crore, up 21.6 percent. Profit before tax increased from Rs. 1,445 crore to Rs. 1,728 crore, reflecting a 19.6 percent growth. Net profit advanced from Rs. 1,093 crore to Rs. 1,287 crore, higher by 17.7 percent over the same period last year.
About the Company
Established in 1954 under the Ministry of Defence, Bharat Electronics Limited (BEL) was founded to cater to India’s defence electronics needs. Over the decades, the company has evolved into a diversified, multi-technology enterprise manufacturing advanced systems for the armed forces, including radar, missile systems, communication, electronic warfare, and naval systems. Having achieved Navratna status, BEL continues to play a pivotal role in both defence and non-defence electronics segments.
Written by Manan Gangwar
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
