Bharat Dynamics Limited
₹975.00-₹35.00 (-3.5%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹55,747 Cr
- P/E
- 85.2x
- EV / EBITDA
- 59.9x
- Revenue
- ₹3,345 Cr
- Net margin
- 25.9%
- ROCE
- 14.7%
Price chart
Technical chartScreen technicals →-35.6% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -12.1%
- 3M
- -21.3%
- 6M
- -28.6%
- 1Y
- -35.6%
- 5Y
- +355.1%
52-week range
Day change -₹35.00 (-3.5%) from ₹1,010 to ₹975 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in BDL, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Healthy return on equity of 16.9%
Concerns1
- Other income is 43.7% of PBT — a large share of earnings is non-operating
Rule-based from financial data. Not advice.
About the company
Bharat Dynamics Limited manufactures and sells guided missiles, underwater weapons, air-borne products, and allied defense equipment in India.
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Bharat Dynamics Limited manufactures and sells guided missiles, underwater weapons, air-borne products, and allied defense equipment in India. It offers light and heavy-weight torpedoes, unified launcher, fagot launcher adapted to Milan equipment, Konkurs launcher test equipment, Akash and Astra weapon systems, Konkurs missile test equipment, medium-range surface-to-air missile, quick reaction surface-to-air missile, and multi-influential ground mines. The company also sells vertically launched-short range surface-to-air missile, anti-submarine warfare suite, counter measures dispensing system, smart anti-airfield weapon, anti-torpedo decoy launching system, Helina, Amogha III, man portable anti-tank guided missile (ATGM), NAG ATGM, invar (3 UBK 20) anti-tank guided missile, Konkurs-M ATGM, and Milan2T ATGM, as well as Dishani, an air-deployed ASW sensor system. Bharat Dynamics Limited was incorporated in 1970 and is headquartered in Hyderabad, India.
- Sector
- Industrials
- Shares outstanding
- 36.6 Cr shares
- ISIN
- INE171Z01026
- BSE code
- 541143
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹55,747 Cr
- P/E
- 85.2x
- P/B
- 13.2x
- EV / EBITDA
- 59.9x
- EV / Sales
- 22.7x
- P/S
- 23.5x
- Earnings yield
- 1.2%
- 52-week high
- ₹1,613.40
- 52-week low
- ₹975.00
Profitability
- Operating margin
- 22.7%
- Net margin
- 25.9%
- EBITDA margin
- 37.9%
- ROE
- 16.9%
- ROCE
- 14.7%
- ROA
- 5.9%
- Dividend payout
- 32.0%
- Tax rate
- 26.0%
- Other income, % of PBT
- 43.7%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹3,345 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 41.2%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -5.3%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹899 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 59.4%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -10.3%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 2.8%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹412 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -80.7%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹460 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 19.1%
Solvency and efficiency
- Current ratio
- 1.41
- Debt / Equity
- 0.00
- Debt / Assets
- 0.00
- Debt / EBITDA
- 0.01
- Interest coverage
- 134.25
- Financial leverage
- 2.87
- CFO / Net profit
- 0.67
- Cash / Market cap
- 17.1%
- Cash per share
- ₹260.19
- Asset turnover
- 0.23
- Fixed asset turnover
- 2.88
- Capital intensity
- 0.35
- Debtor days
- 48 days
- Inventory turnover
- 0.43
- Cash conversion cycle
- 564 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹16 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹2,872 Cr |
| Sales | Operating profit | ₹473 Cr |
| Operating profit | Interest | ₹4 Cr |
| Operating profit | Depreciation | ₹71 Cr |
| Operating profit | Profit before tax | ₹398 Cr |
| Other income | Profit before tax | ₹350 Cr |
| Profit before tax | Tax and other | ₹199 Cr |
| Profit before tax | Net profit | ₹550 Cr |
Revenue and net profit
Revenue grew 41.2% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹1,914 Cr | ₹258 Cr |
| FY2022 | ₹2,817 Cr | ₹500 Cr |
| FY2023 | ₹2,489 Cr | ₹352 Cr |
| FY2024 | ₹2,369 Cr | ₹613 Cr |
| FY2025 | ₹3,345 Cr | ₹550 Cr |
Cash flows
FY2025: ₹167 Cr from operations, -₹240 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹1,068 Cr | ₹334 Cr |
| FY2022 | ₹530 Cr | -₹43 Cr |
| FY2023 | ₹2,130 Cr | ₹959 Cr |
| FY2024 | ₹412 Cr | -₹310 Cr |
| FY2025 | ₹167 Cr | -₹240 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹3,345 Cr+41.2%1Y
- Net profit
- ₹550 Cr-10.3%1Y
- Cash from operations
- ₹167 Cr
- Free cash flow
- -₹240 Cr
- Revenue CAGR, 5Y
- -5.3%
- EBITDA CAGR, 5Y
- 1.3%
- Net profit CAGR, 5Y
- 2.8%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹3,345 Cr | ₹473 Cr | — | ₹550 Cr | ₹167 Cr | -₹240 Cr | 13.7% | +41.2% | -10.3% |
Monthly returns
Month-by-month returns of BDL across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹11,814 Cr |
| Equity capital | ₹183 Cr |
| Reserves | ₹3,826 Cr |
| Borrowings | ₹7 Cr |
| Other liabilities | ₹7,798 Cr |
| Assets | ₹11,814 Cr |
| Fixed assets | ₹857 Cr |
| Capital work in progress | ₹230 Cr |
| Investments | ₹4 Cr |
| Other assets | ₹10,723 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
BDL trades at 85.2x earnings against a peer median of 38.3x (a 123% premium).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| Bharat Dynamics LimitedBDLthis companyP/E ↑ premium | ₹55,747 Cr | 85.2x | 13.2x | 16.9% | 59.9x |
| GE Vernova T&D India LimitedGVT&D | ₹69,885 Cr | 76.0x | 33.5x | 14.6% | 195.7x |
| Bharat Forge LtdBHARATFORG | ₹69,815 Cr | 51.3x | 6.3x | 16.6% | 27.9x |
| SUZLON ENERGY LTD.SUZLON | ₹66,218 Cr | 21.9x | 9.1x | 22.0% | 64.5x |
| JSW Infrastructure LimitedJSWINFRA | ₹55,472 Cr | 150.0x | 10.7x | 6.0% | 92.8x |
| APL Apollo Tubes LimitedAPLAPOLLO | ₹52,948 Cr | 115.0x | 16.7x | 15.7% | 69.1x |
| Supreme Industries Ltd.SUPREMEIND | ₹44,014 Cr | 54.2x | 8.7x | — | — |
| Escorts Kubota LimitedESCORTS | ₹41,649 Cr | 34.4x | 3.5x | 11.5% | 24.8x |
| KEI Industries Ltd.KEI | ₹41,222 Cr | 52.1x | 6.7x | 18.5% | 45.8x |
| Peer median | — | 38.3x | 5.2x | 15.2% | 25.8x |
Year-to-date ROI
BDL since 1 January, against earlier years.
Historical volatility
BDL's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 18.0% |
| FY2022 | 26.0% |
| FY2023 | 16.0% |
| FY2024 | 23.0% |
| FY2025 | 14.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹3,345 Cr |
| Costs | |
| Interest | ₹4 Cr |
| Expenses | ₹2,872 Cr |
| Operating profitOperating Profit | ₹473 Cr |
| Other income and charges | |
| Profit before tax | ₹749 Cr |
| Tax | |
| Net profitNet Profit | ₹550 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹11,814 Cr |
| Equity capitalEquity Capital | ₹183 Cr |
| Reserves | ₹3,826 Cr |
| Borrowings | ₹7 Cr |
| Other liabilitiesOther Liabilities | ₹7,798 Cr |
| AssetsTotal Assets | ₹11,814 Cr |
| Fixed assetsFixed Assets | ₹857 Cr |
| Capital work in progressCWIP | ₹230 Cr |
| Investments | ₹4 Cr |
| Other assetsOther Assets | ₹10,723 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹167 Cr |
| Investing cash flowCash from Investing Activity | -₹407 Cr |
| Financing cash flowCash from Financing Activity | -₹220 Cr |
| Change in cashNet Cash Flow | -₹460 Cr |
Learn while you research
Academy chapters picked for Bharat Dynamics Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 85.2, learn when high multiples are justified.6 min read
- 04 Growth Investing41% revenue growth is in the top tier, learn how to value growth.7 min read
- 05 Business Cycles & StocksThese cyclical sectors win and lose in different macro phases.6 min read
- 06 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read