Hyderabad: Bharat Dynamics Limited (BDL), a Government of India enterprise under the Ministry of Defence, has reported a blockbuster performance for the first quarter of FY 2026-27.
The defence PSU‘s standalone profit after tax (PAT) surged 547% year-on-year to ₹1,188 crore, compared with ₹183 crore in Q1 FY26. Revenue from operations also jumped 131% to ₹5,722 crore, from ₹2,479 crore in the corresponding quarter last year.
The strong performance was driven by robust order execution and operational performance during the quarter.
Bharat Dynamics Q1 FY27 Financial Results
BDL reported strong growth across its key financial metrics in Q1 FY27:
- Revenue from Operations: ₹5,722 crore, up 131%
- Profit After Tax: ₹1,188 crore, up 547%
- Total Income: ₹6,757 crore, up 102%
- EBITDA: ₹1,656 crore, up 616%
- Basic EPS: ₹3.24, compared with ₹0.50 in Q1 FY26
The company’s EBITDA increased sharply from ₹231 crore in Q1 FY26 to ₹1,656 crore, reflecting significant improvement in operating profitability.
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Other Income Supports Bottom-Line Growth
BDL’s other income stood at ₹1,034 crore in Q1 FY27, compared with ₹869 crore in the same quarter last year.
The increase in other income also contributed to the company’s strong growth in total income and bottom-line performance.
Total income increased 102% to ₹6,757 crore from ₹3,348 crore in Q1 FY26.
Bharat Dynamics Q1 Expense Breakdown
Despite the sharp increase in business activity, some key expense components declined during the quarter.
- Cost of Materials Consumed: ₹1,879 crore, down 9% from ₹2,065 crore
- Employee Benefits: ₹1,364 crore, up 3% from ₹1,320 crore
- Other Expenses: ₹754 crore, down 26% from ₹1,021 crore
- Total Expenses: ₹5,100 crore, up 64% from ₹3,117 crore
The combination of strong revenue growth and lower material and other expenses helped drive the significant improvement in profitability.
BDL Recommends Final Dividend of ₹0.40
The company has recommended a final dividend of ₹0.40 per equity share with a face value of ₹5 each for FY 2025-26.
This is in addition to the interim dividend of ₹4.50 per equity share already announced.
The final dividend remains subject to approval by the shareholders.
Government Exempts Defence PSUs from Segment Reporting
The Ministry of Corporate Affairs has exempted Government companies engaged in defence production from certain segment reporting requirements.
The exemption was issued through G.S.R. No. 463(E) dated June 5, 2015.
BDL has disclosed this exemption as part of its financial reporting for the quarter.
Audit Committee Reconstitution Under Process
BDL has also disclosed that the reconstitution of its Audit Committee is under process following the expiry of the tenure of Independent Directors.
In the absence of a duly constituted Audit Committee, the Board of Directors reviewed and approved the financial results for Q1 FY27.
BDL Management Commentary
Shailesh Vagerwal, Chairman & Managing Director of Bharat Dynamics Limited, highlighted the company’s strong performance during the quarter.
He said the company delivered exceptional performance in Q1 FY27, supported by its execution capabilities and robust order book. He also attributed the sharp rise in net profit to operational efficiency and a strategic focus on timely delivery of defence projects.
Bharat Dynamics Share Price and Stock Performance
BDL shares have seen significant movement over the past year.
The stock had touched a 52-week high of ₹1,654 per share on NSE in September 2025 before declining more than 34% over nearly six months to reach a 52-week low of ₹1,086 in March 2026.
Since then, the stock has recovered around 27%, trading at approximately ₹1,380 per share based on the figures provided.
Over the longer term, BDL shares have delivered strong returns:
- 3-year return: More than 145%
- 5-year return: Around 615%
- Market Capitalisation: Approximately ₹50,476 crore
The strong Q1 FY27 earnings are expected to keep the defence PSU’s stock in focus among investors.
Bharat Dynamics Q1 FY27: Key Takeaways
The key highlights from the quarter include:
- PAT surged 547% to ₹1,188 crore.
- Revenue from operations increased 131% to ₹5,722 crore.
- EBITDA jumped 616% to ₹1,656 crore.
- Total income rose 102% to ₹6,757 crore.
- Other income increased to ₹1,034 crore.
- Final dividend of ₹0.40 per share recommended, subject to shareholder approval.
- The stock has recovered around 27% from its March 2026 low.
About Bharat Dynamics Limited
Bharat Dynamics Limited (BDL) is a Government of India enterprise under the Ministry of Defence and a major defence PSU. The company is primarily engaged in the manufacturing of guided missile systems, underwater weapons and allied defence equipment for the Indian Armed Forces. BDL plays an important role in India’s indigenous defence production and strategic weapons programmes.
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