Bharat Electronics Ltd.
BELIndustrials filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
17 transcript(s)/analyst meet(s) served; 5 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (4 of 17 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20220727 | 2022-06-30 | yes | |
| COVER_LETTER | 20221031 | 2022-09-30 | no | |
| COVER_LETTER | 20221104 | 2022-09-30 | no | |
| TRANSCRIPT | 20230207 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230530 | 2023-03-31 | yes | |
| COVER_LETTER | 20230728 | 2023-06-30 | no | |
| TRANSCRIPT | 20230802 | 2023-06-30 | yes | |
| COVER_LETTER | 20231031 | 2023-09-30 | no | |
| TRANSCRIPT | 20231106 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240202 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240524 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240801 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241029 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250203 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250529 | 2025-03-31 | yes | |
| COVER_LETTER | 20260520 | 2026-03-31 | no | |
| TRANSCRIPT | 20260728 | 2026-06-30 | yes |
BEL
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
The closes are adjusted for every split and bonus on record inside the period this series covers, and each adjustment is checked against the price move on its ex-date.
| Last close | 392.00 |
| 52-week range | 382.9 – 468.45 |
| Return 1M | -5.14% |
| Return 3M | -3.73% |
| Return 1Y | -0.87% |
| Return 3Y | 186.97% |
| Return 5Y | 472.26% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 5,547.00 |
| Other income | 170.00 |
| Total income | 5,717.00 |
| Cost of materials consumed | 3,041.00 |
| Purchases of stock-in-trade | 280.00 |
| Changes in inventories | -300.00 |
| Employee benefit expense | 793.00 |
| Finance costs | 1.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.51 | 0.00 |
| institutions foreign | 0.18 | -0.01 |
| institutions domestic | 0.21 | 0.01 |
| mutual funds | 0.15 | 0.01 |
| public | 0.49 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| COVER_LETTER | 2026-03-31 | 5 |
| TRANSCRIPT | 2026-06-30 | 12 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 3,962.00 | 4,153.00 | 6,479.00 | 3,533.00 | 4,009.00 | 4,162.00 | 8,564.00 | 4,244.00 | 4,605.00 | 5,771.00 | 9,150.00 | 4,440.00 | 5,792.00 | 7,154.00 | 10,224.00 | 5,547.00 |
| Other income | 74.00 | 59.00 | 66.00 | 140.00 | 137.00 | 167.00 | 225.00 | 204.00 | 158.00 | 186.00 | 195.00 | 163.00 | 154.00 | 139.00 | 110.00 | 170.00 |
| Total income | 4,035.00 | 4,212.00 | 6,545.00 | 3,673.00 | 4,146.00 | 4,330.00 | 8,790.00 | 4,447.00 | 4,763.00 | 5,957.00 | 9,344.00 | 4,603.00 | 5,946.00 | 7,292.00 | 10,335.00 | 5,717.00 |
| Cost of materials consumed | 2,251.00 | 2,184.00 | 3,101.00 | 1,827.00 | 1,930.00 | 2,188.00 | 4,564.00 | 2,556.00 | 2,416.00 | 3,176.00 | 4,429.00 | 1,961.00 | 3,014.00 | 4,113.00 | 4,794.00 | 3,041.00 |
| Purchases of stock-in-trade | 160.00 | 255.00 | 218.00 | 97.00 | 178.00 | 176.00 | 178.00 | 67.00 | 85.00 | 104.00 | 174.00 | 99.00 | 104.00 | 167.00 | 379.00 | 280.00 |
| Changes in inventories | -175.00 | -19.00 | 34.00 | 66.00 | -65.00 | -232.00 | -331.00 | -308.00 | -360.00 | -299.00 | 145.00 | 16.00 | -279.00 | -455.00 | 121.00 | -300.00 |
| Employee benefit expense | 600.00 | 572.00 | 564.00 | 629.00 | 598.00 | 625.00 | 637.00 | 667.00 | 656.00 | 672.00 | 766.00 | 696.00 | 768.00 | 820.00 | 831.00 | 793.00 |
| Finance costs | 2.00 | 10.00 | 2.00 | 1.00 | 2.00 | 1.00 | 4.00 | 1.00 | 1.00 | 1.00 | 6.00 | 1.00 | 2.00 | 2.00 | 2.00 | 1.00 |
| Depreciation and amortisation | 109.00 | 106.00 | 114.00 | 109.00 | 108.00 | 107.00 | 119.00 | 108.00 | 111.00 | 111.00 | 138.00 | 121.00 | 126.00 | 135.00 | 173.00 | 161.00 |
| Other expenses | 258.00 | 298.00 | 732.00 | 242.00 | 353.00 | 333.00 | 1,229.00 | 314.00 | 407.00 | 448.00 | 819.00 | 429.00 | 484.00 | 382.00 | 1,117.00 | 345.00 |
| Total expenses | 3,205.00 | 3,406.00 | 4,764.00 | 2,970.00 | 3,105.00 | 3,198.00 | 6,399.00 | 3,404.00 | 3,317.00 | 4,213.00 | 6,477.00 | 3,324.00 | 4,218.00 | 5,164.00 | 7,417.00 | 4,320.00 |
| Profit before exceptional items and tax | 831.00 | 806.00 | 1,782.00 | 703.00 | 1,041.00 | 1,132.00 | 2,390.00 | 1,043.00 | 1,445.00 | 1,744.00 | 2,867.00 | 1,279.00 | 1,728.00 | 2,128.00 | 2,917.00 | 1,396.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 831.00 | 806.00 | 1,782.00 | 703.00 | 1,041.00 | 1,132.00 | 2,390.00 | 1,043.00 | 1,445.00 | 1,744.00 | 2,867.00 | 1,279.00 | 1,728.00 | 2,128.00 | 2,917.00 | 1,396.00 |
| Current tax | 248.00 | 203.00 | 290.00 | 174.00 | 324.00 | 284.00 | 668.00 | 285.00 | 383.00 | 480.00 | 619.00 | 353.00 | 418.00 | 567.00 | 726.00 | 374.00 |
| Deferred tax | -32.00 | 0.00 | 125.00 | 0.00 | -63.00 | 0.00 | -64.00 | -23.00 | -22.00 | -38.00 | 127.00 | -34.00 | 31.00 | -9.00 | -23.00 | -22.00 |
| Tax expense | 216.00 | 203.00 | 415.00 | 174.00 | 261.00 | 284.00 | 604.00 | 262.00 | 361.00 | 442.00 | 746.00 | 319.00 | 450.00 | 558.00 | 703.00 | 352.00 |
| Profit for the period | 624.00 | 614.00 | 1,382.00 | 539.00 | 790.00 | 860.00 | 1,797.00 | 791.00 | 1,093.00 | 1,312.00 | 2,127.00 | 969.00 | 1,287.00 | 1,580.00 | 2,226.00 | 1,055.00 |
| Profit attributable to owners | 624.00 | 613.00 | 1,382.00 | — | 789.00 | 860.00 | 1,797.00 | — | 1,092.00 | 1,311.00 | 2,127.00 | 970.00 | 1,288.00 | 1,579.00 | 2,225.00 | 1,054.00 |
| Profit attributable to non-controlling interests | 1.00 | 0.00 | -0.00 | — | 0.00 | 1.00 | -0.00 | — | 0.00 | 1.00 | -0.00 | -1.00 | -1.00 | 1.00 | 1.00 | 0.00 |
| Other comprehensive income | -53.00 | 8.00 | -194.00 | 60.00 | 6.00 | -36.00 | -87.00 | 52.00 | -17.00 | 46.00 | -74.00 | 18.00 | -25.00 | 50.00 | -7.00 | -25.00 |
| Total comprehensive income | 571.00 | 621.00 | 1,188.00 | 598.00 | 795.00 | 824.00 | 1,710.00 | 844.00 | 1,076.00 | 1,357.00 | 2,053.00 | 987.00 | 1,262.00 | 1,629.00 | 2,219.00 | 1,029.00 |
| Earnings per share, basic | 0.86 | 0.83 | 1.90 | 0.74 | 1.08 | 1.17 | 2.46 | 1.08 | 1.50 | 1.79 | 2.91 | 1.33 | 1.76 | 2.16 | 3.04 | 1.44 |
| Earnings per share, diluted | 0.86 | 0.83 | 1.90 | 0.74 | 1.08 | 1.17 | 2.46 | 1.08 | 1.50 | 1.79 | 2.91 | 1.33 | 1.76 | 2.16 | 3.04 | 1.44 |
Annual results, as filed
| Line | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|
| Revenue from operations | 12,968.00 | 14,109.00 | 15,368.00 | 17,734.00 | 20,268.00 | 23,769.00 | 27,610.00 |
| Other income | 99.00 | 125.00 | 232.00 | 281.00 | 670.00 | 742.00 | 566.00 |
| Total income | 13,067.00 | 14,234.00 | 15,600.00 | 18,015.00 | 20,938.00 | 24,511.00 | 28,176.00 |
| Cost of materials consumed | 5,897.00 | 6,718.00 | 8,124.00 | 9,393.00 | 10,509.00 | 12,578.00 | 13,882.00 |
| Purchases of stock-in-trade | 951.00 | 1,233.00 | 1,053.00 | 828.00 | 629.00 | 430.00 | 748.00 |
| Changes in inventories | 249.00 | -125.00 | -280.00 | -393.00 | -562.00 | -821.00 | -597.00 |
| Employee benefit expense | 2,075.00 | 1,956.00 | 2,128.00 | 2,317.00 | 2,489.00 | 2,761.00 | 3,116.00 |
| Finance costs | 4.00 | 6.00 | 5.00 | 15.00 | 7.00 | 10.00 | 7.00 |
| Depreciation and amortisation | 372.00 | 387.00 | 401.00 | 429.00 | 443.00 | 467.00 | 556.00 |
| Other expenses | 1,041.00 | 1,116.00 | 1,002.00 | 1,504.00 | 2,156.00 | 1,987.00 | 2,412.00 |
| Total expenses | 10,589.00 | 11,292.00 | 12,433.00 | 14,092.00 | 15,672.00 | 17,412.00 | 20,123.00 |
| Profit before exceptional items and tax | 2,478.00 | 2,942.00 | 3,166.00 | 3,923.00 | 5,266.00 | 7,099.00 | 8,053.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 2,478.00 | 2,942.00 | 3,166.00 | 3,923.00 | 5,266.00 | 7,099.00 | 8,053.00 |
| Current tax | 717.00 | 802.00 | 914.00 | 857.00 | 1,387.00 | 1,768.00 | 2,064.00 |
| Deferred tax | -31.00 | 71.00 | -103.00 | 125.00 | -64.00 | 44.00 | -35.00 |
| Tax expense | 686.00 | 872.00 | 812.00 | 983.00 | 1,323.00 | 1,812.00 | 2,029.00 |
| Profit for the period | 1,825.00 | 2,100.00 | 2,400.00 | 2,986.00 | 3,985.00 | 5,323.00 | 6,062.00 |
| Profit attributable to owners | 1,824.00 | 2,099.00 | 2,399.00 | 2,984.00 | 3,985.00 | 5,321.00 | 6,062.00 |
| Profit attributable to non-controlling interests | 1.00 | 1.00 | 1.00 | 2.00 | 1.00 | 1.00 | 0.00 |
| Other comprehensive income | -41.00 | -88.00 | -149.00 | -166.00 | -58.00 | 7.00 | 36.00 |
| Total comprehensive income | 1,784.00 | 2,012.00 | 2,251.00 | 2,820.00 | 3,928.00 | 5,330.00 | 6,098.00 |
| Earnings per share, basic | 7.49 | 8.62 | 9.85 | 4.09 | 5.45 | 7.28 | 8.29 |
| Earnings per share, diluted | 7.49 | 8.62 | 9.85 | 4.09 | 5.45 | 7.28 | 8.29 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 33,478.00 | 35,491.00 | 36,267.00 | 39,527.00 | 39,806.00 | 40,832.00 | 42,925.00 | 44,538.00 |
| Non-current assets | 6,710.00 | 5,443.00 | 5,546.00 | 5,464.00 | 5,785.00 | 5,974.00 | 6,232.00 | 6,481.00 |
| Current assets | 26,768.00 | 30,048.00 | 30,721.00 | 34,063.00 | 34,021.00 | 34,858.00 | 36,693.00 | 38,057.00 |
| Property, plant and equipment | 2,591.00 | 2,694.00 | 2,665.00 | 2,788.00 | 2,777.00 | 3,205.00 | 3,255.00 | 3,482.00 |
| Capital work-in-progress | 368.00 | 361.00 | 433.00 | 456.00 | 668.00 | 477.00 | 564.00 | 486.00 |
| Goodwill | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other intangible assets | 164.00 | 268.00 | 263.00 | 247.00 | 225.00 | 215.00 | 197.00 | 639.00 |
| Inventories | 6,536.00 | 6,448.00 | 6,732.00 | 7,447.00 | 9,362.00 | 9,119.00 | 10,211.00 | 10,176.00 |
| Trade receivables | 6,360.00 | 7,033.00 | 7,336.00 | 7,392.00 | 8,227.00 | 9,116.00 | 10,591.00 | 12,876.00 |
| Cash and cash equivalents | 1,089.00 | 3,946.00 | 1,443.00 | 1,206.00 | 2,002.00 | 713.00 | 741.00 | 1,888.00 |
| Total equity and liabilities | 33,478.00 | 35,491.00 | 36,267.00 | 39,527.00 | 39,806.00 | 40,832.00 | 42,925.00 | 44,538.00 |
| Equity | 12,948.00 | 13,879.00 | 14,834.00 | 16,344.00 | 17,679.00 | 19,993.00 | 21,584.00 | 24,007.00 |
| Equity share capital | 731.00 | 731.00 | 731.00 | 731.00 | 731.00 | 731.00 | 731.00 | 731.00 |
| Other equity | 12,200.00 | 13,131.00 | 14,085.00 | 15,595.00 | 16,929.00 | 19,243.00 | 20,836.00 | 23,257.00 |
| Total liabilities | 20,530.00 | 21,612.00 | 21,433.00 | 23,182.00 | 22,127.00 | 20,839.00 | 21,341.00 | 20,530.00 |
| Non-current liabilities | 2,121.00 | 1,046.00 | 1,075.00 | 1,156.00 | 1,112.00 | 1,086.00 | 1,143.00 | 1,271.00 |
| Current liabilities | 18,409.00 | 20,566.00 | 20,358.00 | 22,027.00 | 21,016.00 | 19,753.00 | 20,198.00 | 19,260.00 |
| Borrowings, non-current | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Borrowings, current | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Trade payables | 3,527.00 | 3,330.00 | 2,894.00 | 3,706.00 | 3,318.00 | 3,339.00 | 2,908.00 | 3,583.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | -2,512.00 | 1,267.00 | 340.00 | 4,659.00 | -2,314.00 | 587.00 | -889.00 | 1,541.00 |
| Net cash from investing activities | 2,494.00 | 2,691.00 | -2,616.00 | -5,924.00 | 3,394.00 | 617.00 | 1,211.00 | 1,730.00 |
| Net cash from financing activities | -194.00 | -1,313.00 | -227.00 | -1,475.00 | -284.00 | -1,696.00 | -294.00 | -2,097.00 |
| Purchase of property, plant and equipment | 221.00 | 590.00 | 262.00 | 653.00 | 431.00 | 1,011.00 | 454.00 | 985.00 |
| Net increase in cash | -212.00 | 2,645.00 | -2,503.00 | -2,739.00 | 796.00 | -493.00 | 28.00 | 1,175.00 |
| con:CFO.BEFORE_TAX | -1,836.00 | 2,591.00 | 1,199.00 | 6,646.00 | -1,498.00 | 2,879.00 | 306.00 | 4,093.00 |
| con:INTEREST_RECEIVED.OPERATING | -152.00 | -261.00 | -263.00 | -572.00 | -334.00 | -622.00 | -307.00 | -535.00 |
| con:INTEREST_PAID.OPERATING | -2.00 | -4.00 | -2.00 | -4.00 | -2.00 | -4.00 | -2.00 | -4.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 465.00 | 913.00 | 555.00 | 1,418.00 | 485.00 | 1,675.00 | 890.00 | 2,021.00 |
| con:CF_OTHER.OPERATING | -61.00 | -154.00 | -43.00 | -0.00 | 0.00 | 0.00 | -0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 1.00 | 2.00 | 1.00 | 9.00 | 1.00 | 3.00 | 1.00 | 4.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 51.14 | 51.14 | 51.14 | 51.14 | 51.14 | 51.14 | 51.14 | 51.14 | 51.14 | 51.14 | 0.51 | 0.51 | 0.51 | 0.51 |
| Domestic institutions | 25.50 | 24.83 | 24.19 | 23.37 | 22.64 | 20.61 | 20.22 | 20.94 | 20.88 | 20.60 | 0.21 | 0.20 | 0.20 | 0.21 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 14.60 | 0.15 | 0.15 | 0.14 | 0.15 |
| Insurance companies | 4.14 | 4.28 | 4.04 | 3.63 | 2.88 | 2.68 | 2.74 | 3.19 | 4.16 | 4.21 | 0.04 | 0.03 | 0.03 | 0.04 |
| Foreign institutions | 16.42 | 17.35 | 17.18 | 17.78 | 17.56 | 17.43 | 17.27 | 17.35 | 17.56 | 18.56 | 0.18 | 0.19 | 0.20 | 0.18 |
| Public | 48.86 | 48.86 | 48.86 | 48.86 | 48.86 | 48.86 | 48.86 | 48.86 | 48.86 | 48.86 | 0.49 | 0.49 | 0.49 | 0.49 |
| Non-institutional | 6.94 | 6.68 | 7.49 | 7.72 | 8.66 | 10.82 | 11.38 | 10.58 | 10.43 | 9.70 | 0.10 | 0.10 | 0.09 | 0.10 |
| Shares outstanding | 7309778829 | 7309778829 | 7309778829 | 7309778829 | 7309778829 | 7309778829 | 7309778829 | 7309778829 | 7309778829 | 7309778829 | 7309778829 | 7309778829 | 7309778829 | 7309778829 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| GE BE Private Limited | Associate | Sale of goods or services | 161,500,000.00 | 1 |
| Garden Reach Ship builders & Engineers Ltd | Common Directorship | Sale of goods or services | 57,800,000.00 | 1 |
| Hindustan Aeronautics Limited | Common Directorship | Sale of goods or services | 41,100,000.00 | 1 |
| Goa Shipyard Limited (GSL) | Common Directorship | Sale of goods or services | 24,000,000.00 | 1 |
| BEL Optronics Devices Limited | Subsidiary | Purchase of goods or services | 8,100,000.00 | 1 |
| BEL Thales Systems Limited | Subsidiary | Sale of goods or services | 4,000,000.00 | 1 |
| Standing Conference of Public Enterprises (SCOPE) | Other | Purchase of goods or services | 1,000,000.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-07-28 | Q1FY27 | BHAfiATELECTRON/CS, QUALITY TECHNOLOGY. INNOVATION, SERVICES, SLEZcfgoJctcJ/oJcfEL, molila | Read the call |
| 2025-05-29 | Q4FY25 | Mohit Pandey:, purchased immediately., shifted by 1 quarter., subsequent years. | Read the call |
| 2025-02-03 | Q3FY25 | BHAMTElfCTHONfCS, CHIEF FINANCIAL OFFICER, DIRECTOR, Manoj Jain:, Mohit Pandey:, QUALITY T | Read the call |
| 2024-10-29 | Q2FY25 | AND SECURITIES, BHARATElFCTRON/CS, QUALITY, TECHNOLOGY. INNOVATION, STRcT^c^ctc7/c?cFET, S | Read the call |
| 2024-08-01 | Q1FY25 | Amit Dixit:, Director, Bharat Electronics Limited, Umcsh Raut:, already in our control., e | Read the call |
| 2024-05-24 | Q4FY24 | LIMITED | Read the call |
| 2024-02-02 | Q3FY24 | BHAKATaFCTROMCS amtioi ip, LIMITED, QUALITY. TECHNOLOGY, INNOVATION | Read the call |
| 2023-11-06 | Q2FY24 | C H O R, LIMITED, QUALITY, TECHNOLOGY, INNOVATION | Read the call |
| 2023-08-02 | Q1FY24 | B/-/ARATFlfCTRON/eS, Harshit Patel:, It looks like., LIMITED, M3cfg<y)c?xf//cdcf-&, QUALIT | Read the call |
| 2023-05-30 | Q4FY23 | Ankur:, BHARATELECTRON/CS, BHARATELECTRON/OS | Read the call |
| 2023-02-07 | Q3FY23 | BHARAT, LIMITED, MANAGING, QUALITY, TECHNOLOGY. INNOVATION, ict'Ty | Read the call |
| 2022-07-27 | Q1FY23 | Read the call |
Some earlier announcements under this heading are covering letters only — no transcript was attached.
What they said about it, quarter by quarter
| Topic | Q2FY24 | Q2FY25 | Q3FY23 | Q3FY24 | Q3FY25 | Q4FY23 | Q4FY24 | Q4FY25 |
|---|---|---|---|---|---|---|---|---|
| Capex | Capex we have planned around INR800 crores in this year – INR700 crores to INR800 crores during the current year, and up to first half it is INR250 cr… | And the second thing is in the last con call you had asked that you had said that you know capex for ‘24- ‘25 is projected around INR800 crores with s… | Sir I had two specific questions first on capex I think last year we incurred around 5 to 6 billion plus on expanding LRSAM and Akash facilities so ho… | What is the capital expenditure plan for next 2 years? | — | But yes, every year capex investment is there. | Sir, my second question is on the capex front. | So as we have told, we are investing on both fronts, whether it is in R&D front or whether it is in capex front. |
| Capital allocation | — | Bharat Electronics Limited October 28, 2024 are the main leads which we are having or main acquisition plans of our defense forces, army, navy, airpor… | — | — | My second question is pertaining to the deal, which is right now going on between India and Russia for acquisition of long-range radar, which can dete… | And total dividend payout in 2022-23 is INR1.8 per share against INR1.5 per share for ‘21-‘22. | So without QRSAM or this, we are expecting order acquisition in the range of around INR25,000 crores in '24-'25. | Worst case, they may go to -- slip to next year Q1 or Q2. So that way, we have good leads right now order acquisition related. |
| Costs | — | — | — | — | Purchase of stock in trade, raw materials all are taken and even the portion of WIP, which is there at the end of the December quarter is also taken i… | — | So what we are able to maintain is our better efficiency, better project management and the innovation and R&D what we are spending and taking bringin… | And why was other expenses -- and so I mean there's a sharp decline in terms of raw material and other expenses in the fourth quarter on a Y-o-Y basis… |
| Debt and cash | My first question is on the working capital side. | And my second question will be on the working capital. | Second on the working capital looking at your interest cost this quarter it seems to have gone up, so if you could help me that the absolute numbers o… | Working capital, as we have been telling that we are maintaining the ratio of current assets to current liabilities remains at around 1.5 and the liqu… | — | I have two questions, one is regarding your cash flow, there is significant dip in your operating cash flow in this year, it has reduced to somewhere … | Sir, my first question is, if I see the cash flow it seems there is a significant increase in the provision for warranty liquidated damages and bad de… | Sir, my question is on the working capital. |
| Demand | So these two are the other major orders which are in pipeline apart from fused. | So as it is as we say next year also the base order book of INR15,000 to INR20,000 crores is there. | Our order book position stands at Rs.50116 Crores as on January 1, 2023, so these are in brief major achievements up to Q3. Over to you! | My first question is, out of a total order book of over 750 billion, 770 billion, are there any slow moving orders which have been in your order book … | And order book position as on 1st of January 2025 is INR71,100 crores. | Just in the backdrop, because your order book growth is about 5% for ‘23 and I guess even into ‘24, assuming you get to about INR20,000 crores of orde… | And we had acquired the highest ever order book -- order in financial year, that is INR35,000 crores, which amounts to order book as on 1st April '24 … | And secondly, any update you would like to provide on the large pipeline orders such as QRSAM and corvette-linked orders? |
| Guidance | How big was the quantum and like because we sort of stick it to our guidance. | And do we expect that to kind of normalize by the end of the year? | So if you see that come together what guidance we were given at end of the financial year close to 20000 Crores, we are working on that and we are con… | Yes, as far as revenue growth is concerned, still we stick to our guidance of around 15% growth over and above what we did last year, which amount to … | So are we sustaining a sharp pickup in 4Q because of your guidance earlier was INR25,000 crores. | I think you are guiding towards 15% to 17% growth for next year. | When we gave the guidance in April, this financial year -- previous financial year, we gave that turnover of growth of around 15% to 17% and the EBITD… | So whole year margins are pretty much higher than your guidance. |
| Margin | Overall yearly if you see that our projections of EBITDA between 21% to 23%, we hold good. | I just wanted to understand the underlying reason that for the gross margin expansion that we have seen in second quarter of FY '25, provide the reaso… | EBITDA has increased to 20.20% up to Q3 as compared to 19.69% of corresponding figure last year and EPS has increased to Rs.2.25 up to Q3 as compared … | Gross margin for the full year should be around 42% and EBITDA margins would be around 23%. | The EBITDA has increased to 28.07% up to Q3 as compared to last year's figure of 23.67%. | We have only – last year we have earned an EBITDA margin of 23. | EBITDA has increased to 25.22% as compared to 23.35% previous year. | The EBITDA also has increased to 29.39%, as compared to 25.22% last year. |
| People | — | One wanted to understand the attrition rate in the company and two I think there were some news, some media articles that you had given offers to grad… | Just to understand your thoughts as to the reasons why the other equipment budget of the air force was not utilized this year what are the drivers tha… | — | — | So we need to triple our capacity or as of now our capacity is very -- utilization is very low? | So first of all how much at a blended level we have capacity utilization at this point of time? | — |
| Pricing | — | Also, on the other projects where the confidence is so high that we will do INR25,000 crores, are these more of in the final negotiation of pricing wh… | The first question that I had was on I think there was a question recently last speaker had asked on a nomination based share of a backlog which is 75… | Pricing, all these things, we have to work with HAL and then finalize. | — | To some extent yes, but then more indigenization, then customer also will put pressure on your pricing also. | Even if you are in L1, they do conduct negotiation and then pricing is finalized. | — |
| Revenue growth | We have achieved a turnover of INR7,365 crores as compared to previous half years of INR6,960 crores with a growth of 5.82%, which is slightly lower b… | So, while profitability and top line growth has been very strong in the first half, operating cash flows are actually negative | Brief highlights of Bharat Electronics for Q3 performances are that our turnover has increased to Rs.11005 Crores up to Q3 2022-2023 as compared to Rs… | So, if I look at the revenue growth so far, it has remained quiet, I would say, subdued. | So the turnover increased to INR14,174 crores up to Q3 as compared to INR11,485 crores, with a growth of 23.41%. | So keeping in consideration all these things, we are projecting a top-line growth of around 17% in this finance year. | Yearly, if you see, our turnover has increased to INR19,819.93 crores, which is a growth of 14.35% as compared to previous year's turnover of INR17,33… | The turnover increased to INR23,024 crores, as compared to INR19,820 crores previous year, with a growth of 16.17%. |
What they said they would do
Sentences in which management set an expectation. Each names the speaker and the page of the transcript it came from.
| Date | Quarter | Who | What they said |
|---|---|---|---|
| 2023-08-02 | Q1FY24 | Sumit Kishore: | So you would say you are well on track to achieve your 17% growth guidance for the year? |
| 2024-08-01 | Q1FY25 | executed this quarter? | This guidance for this year what we had promised 25,000 crores, we will definitely retain that and we will meet this expectation and we will get this orders of 25,000 crores. |
| 2024-08-01 | Q1FY25 | executed in this quarter? | So, when we are giving the guidance of 40% to 42%, it is covering all, it covers LRSAM and all others. |
| 2026-07-28 | Q1FY27 | molilal i | Just wanted to ask about your 15% revenue growth guidance for this year. |
| 2026-07-28 | Q1FY27 | molilal i | And the leads, we may get it, that I can't directly predict, but definitely this year we have given our internal guidance of around USD300 million we should definitely fetch out of the leads which we are having. |