This Defence stock, engaged in designing, developing, and manufacturing advanced electronic products and systems, primarily for defence, aerospace, and homeland security applications in India and abroad, is in focus after SBI Securities gave a target of Rs. 372, which has an upside potential of 15 percent.
With a market capitalization of Rs. 2,46,558.84 crores, the share of Bharat Electronics Limited has reached an intraday high of Rs. 337.65 per equity share, rising nearly 4.60 percent from its previous day’s close price of Rs. 322.80. Since then, the stock has retreated and is currently trading at Rs. 337.30 per equity share.
SBI Securities, a prominent brokerage firm, has recommended a “Buy” call on Bharat Electronics Limited with a target price of Rs. 372 per share, indicating an upside potential of 15.24 percent from the previous day’s close of Rs. 322.80.
SBI Securities has given a positive outlook on BEL based on several strong factors. BEL has a healthy order book of Rs. 71,650 crore as of April 1, 2025, with key defence and non-defence orders. In FY25, it achieved a 16 percent revenue growth, reaching Rs. 23,000 crore.
In FY26, Bharat Electronics Limited is expected to receive big orders for the QRSAM and MRSAM projects, worth between Rs. 40,000 and Rs. 45,000 crore. BEL is also expanding its non-defence business, aiming for a 20–25 percent revenue share over five years. With strong opportunities in the Army, Navy, and Air Force platforms, BEL is well-positioned for future growth.
Bharat Electronics Limited (BEL) was established in 1954 and is a leading Indian government-owned company engaged in manufacturing advanced electronic products for defence and non-defence sectors. It specializes in radars, communication systems, electronic warfare, and other critical technologies for the armed forces and civilian applications.
In FY25, Bharat Electronics Limited (BEL) received new orders worth Rs. 18,715 crore. This increased its total order book to Rs. 71,650 crore as of April 1, 2025. Some of the key orders included important defence projects like the BMP II Upgrade, Ashwini Radar, and Software Defined Radios.
In addition to defence, BEL also secured projects in the non-defence sector. The company’s export order book also grew and stood at USD 359 million. This shows that BEL continues to grow strongly, both in India and internationally, with a mix of defence and non-defence orders.
Coming into financial highlights, the company’s revenue has increased from Rs. 4,162 crore in Q3 FY24 to Rs. 5,771 crore in Q3 FY25, which has grown by 38.66 percent. The net profit has also grown by 52.56 percent, from Rs. 860 crore in Q3 FY24 to Rs. 1,312 crore in Q3 FY25.
Bharat Electronics Limited’s revenue and net profit have grown at a CAGR of 11.81 percent and 21.56 percent, respectively, over the last four years. In terms of return ratios, the company’s ROCE and ROE should be 34.6 percent and 26.3 percent, respectively. BEL has an earnings per share (EPS) of Rs. 6.83.
Written By – Nikhil Naik
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