The Indian government’s push for Make in India, along with a higher defence budget and focus on self-reliance, is boosting demand for locally made military equipment. Rising border tensions and global issues are leading to large domestic and international orders, showing growing trust in Indian defence companies and their improving capabilities.
Amid this, India’s 2nd largest Defence Company Bharat Electronics with a market capitalisation of Rs. 2,68,524 has reported its Q4 numbers for FY25, where it had reported strong earnings growth with Revenue Increasing by 59 percent and Net Profit Increasing by 62 percent on a QoQ basis, However the main highlights of the earning was the order book of the company.
BEL’s Order Book
Company Order book as of Q4FY25 has swelled up to Rs. 71,650 Crores, which is an increase from the last quarter, which stood at Rs. 71,100 Crores. Further, the company is expecting additional orders worth around Rs. 27,000 crore in FY26, which could exceed Rs. 50,000 crore if the QRSAM (Quick Reaction Surface-to-Air Missile) order is finalised. For FY26, the company anticipates total order inflow to cross Rs. 57,000 crore.
The company receives its major orders for a range of high-value, mission-critical products. Key among them are radars, including battlefield surveillance and fire control radars; communication systems such as software-defined radios and secure tactical communication equipment; and electronic warfare systems that are crucial for modern combat operations.
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India’s Defence Ambitions
India’s defence sector has seen remarkable growth, with domestic production reaching Rs. 1.27 lakh crore in FY24—a 174 percent increase since FY15. This surge has been driven by key government initiatives such as iDEX, SAMARTHYA, and focused indigenisation efforts through SRIJAN and the Positive Indigenisation Lists, which now cover over 17,000 items.
The defence budget has also grown significantly, rising from Rs. 2.53 lakh crore in FY14 to a projected Rs. 6.81 lakh crore for FY26. Looking ahead, India aims to achieve Rs. 3 lakh crore in defence production and Rs. 50,000 crore in exports by 2029, reinforcing its commitment to self-reliance and global competitiveness in defence manufacturing.
About the Company
Founded in 1954 and headquartered in Bengaluru, BEL operates under the Ministry of Defence and plays a key role in supplying advanced electronic products and systems to the Indian Armed Forces.
The company manufactures a wide range of products such as radars, sonar systems, communication equipment, electronic warfare systems, naval systems, and missiles. BEL also supports civilian applications in fields like homeland security, telecom, and solar energy.
The company reported a 6.84 percent YoY increase in revenue from Rs. 8,564 Crore in Q4FY24 to Rs. 9,150 Crore in Q4FY25. On a QoQ basis, the company reported an increase of 58.55 percent in revenue from Rs. 5,771 Crore in the previous quarter.
Their Net profit saw an increase of 18.36 percent YoY from Rs. 1,797 Crore to Rs. 2,127 Crore for the same period. On a QoQ basis, the company reported an increase of 62.11 percent in Net profit from Rs. 1,312 Crore in the previous quarter.
Written By Abhishek Das
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