Synopsis: The defence manufacturer reported exceptional Q2 performance with sharp revenue and profit growth, supported by a major anti-tank missile order. Strong sector approvals, rising procurement, and a robust order book above ₹22,000 crore reinforce long-term visibility, signalling sustained momentum in indigenous weapon system development.
The shares of a prominent ammunition and missile systems manufacturer gained up to 7.2 percent in today’s trading session after the company announced robust results & also received an order for Invar Anti-tank missiles worth up to Rs 2,095.70 crore.
With a market capitalization of Rs 58,723.31 crore, the shares of Bharat Dynamics Ltd were trading at Rs 1,602.00 per share, increasing around 5.50 percent as compared to the previous closing price of Rs 1,518.45 apiece.
Q2FY26 Highlights
The shares of Bharat Dynamics Ltd have seen bullish movement after announcing its financial performance in Q2FY26, in which revenue increased by 110 percent on a year-on-year basis from Rs 545 crore in Q2FY25 to Rs 1,147 crore in Q2FY26. However, on a Quarter-on-Quarter basis, revenue zoomed by 362 percent from Rs 248 crore in Q1FY26 to Rs 1,147 crore in Q2FY26.
Moreover, net profit increased by 75 percent on a yearly basis from Rs 123 crore in Q2FY25 to Rs 216 crore in Q2FY26, meanwhile, on a quarter-on-quarter basis, net profit jumped by 1,100 percent from Rs 18 crore in Q1FY26 to Rs 216 crore in Q2FY26.
Meanwhile, EBITDA for the quarter rose 89.4% year-on-year to Rs 188 crore, compared with Rs 99 crore in the same period last year, while the EBITDA margin stood at 16%, slightly lower than 18% a year earlier.
Additionally, Bharat Dynamics Ltd has signed a contract valued at Rs 2,095.70 crore with the Ministry of Defence for the supply of Invar Anti-tank missiles for the Indian Army. This order will be executed in a span of 3 years.
Order Outlook
Recently, the Defence Acquisition Council approved Rs. 79,000 crore in equipment procurement for the Army, Navy, and Air Force. A significant portion is expected to benefit Bharat Dynamics, strengthening its role in manufacturing Light Weight Torpedoes and NAG Missile systems. This move underscores India’s focus on modernising defence capabilities and supporting domestic defence manufacturers.
Followingly, the shares of Bharat Dynamics Ltd have seen bullish movement after the news that the company could receive a potential Rs 2000 crore order that aims to enhance the Army’s capability to neutralise enemy combat vehicles, bunkers, and other field fortifications.
Order Book Highlights
Bharat Dynamics Ltd., a Government of India enterprise, develops and manufactures guided missiles, torpedoes, and other allied defence products for the nation’s armed forces. It serves as India’s primary manufacturing base for high-tech weapon systems and provides support services like refurbishment and life-extension for existing missile systems.
As of March 31, 2025, the company’s order book stands strong at Rs 22,814 crore, boosted by Rs 6,668 crore in new orders during the year. This underscores growing stakeholder confidence and its proven capability in advanced missile and defence systems, with ATGMs, SAMs, and underwater weapons remaining key contributors to operational strength and future growth.
Bharat Dynamics Limited’s product lineup, including the NAG, Milan-2T, Konkurs-M, and INVAR ATGMs, showcases robust indigenous capability. By providing critical equipment to India’s armed forces, BDL strengthens national security and highlights the country’s progress in self-reliant defence technology.
Written by Abhishek Singh
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