New Delhi: Bharat Electronics Limited (BEL), the Navratna Defence Public Sector Undertaking, has announced a strong financial performance for FY26, reporting a 16.15% year-on-year growth in revenue from operations and a double-digit rise in profitability.
The audited results were approved by the company’s board in a meeting held on May 19, 2026.
Strong Revenue Growth and Profitability in FY26
BEL recorded significant growth across key financial metrics in FY26 compared to the previous year:
- Revenue from operations: ₹27,479.63 crore (up 16.15%)
- Profit Before Tax (PBT): ₹8,075.04 crore (up 13.89%)
- Profit After Tax (PAT): ₹6,048.48 crore (up 14.38%)
- Earnings Per Share (EPS): ₹8.27
The company’s strong performance reflects sustained demand in defence electronics and execution of large-scale government and defence contracts.
Q4 FY26 Performance Shows Steady Growth
For the fourth quarter (Jan–Mar 2026), BEL also posted stable year-on-year growth:
- Revenue: ₹10,177.17 crore
- PAT: ₹2,203.16 crore
- PBT: ₹2,903.82 crore
The quarterly performance reinforced the company’s consistent operational strength.
Consolidated Financial Results Also Remain Strong
On a consolidated basis, including subsidiaries and associates, BEL reported:
- Revenue: ₹27,610.11 crore
- PAT: ₹6,062.26 crore
- Consolidated EPS: ₹8.29
The results highlight stable contributions from joint ventures and subsidiaries in the defence electronics ecosystem.
Dividend Announcement for FY26
The BEL board has recommended a final dividend of ₹0.55 per equity share (face value ₹1) for FY26, subject to shareholder approval at the upcoming AGM.
An interim dividend of ₹1.95 per share had already been paid earlier in March 2026.
Strong Order Book Position at ₹73,882 Crore
As of April 1, 2026, BEL reported a robust order book of ₹73,882 crore, ensuring strong revenue visibility for upcoming financial periods.
This large order pipeline is expected to support continued growth in defence manufacturing and electronics systems.
Auditor’s Report: Unmodified Opinion with Governance Observation
The statutory auditors issued an unmodified opinion on both standalone and consolidated financial statements.
However, they noted that six Independent Director positions, including one Independent Woman Director, remain vacant due to pending appointments by the Ministry of Defence. BEL has confirmed that the matter is under government consideration.
Other Key Disclosures
- Labour code reforms increased gratuity and PF liability by ₹2,055 lakh
- No material financial impact from Israel-related contracts
- FY26 associates’ accounts certified by management
- Subject to CAG supplementary audit under Companies Act, 2013
Stock Performance
Following the results announcement, BEL shares closed 0.6% lower at ₹424.05 on May 19.
About Bharat Electronics Limited
Bharat Electronics Limited is a leading Indian state-owned aerospace and defence electronics company under the Ministry of Defence. The Navratna PSU is a key supplier of advanced electronic systems for the Indian Armed Forces, including radar systems, communication equipment, and defence-grade electronic warfare solutions. It plays a major role in India’s indigenous defence manufacturing ecosystem and continues to expand its presence in both domestic and international markets.
Read also: BEL Secures ₹1,476 Crore Defence Contract for Indigenous Electronic Warfare Systems for Indian Army
