BEL quarterly results and annual financials: sales, operating profit, OPM, net profit, EPS, balance sheet, cash flow and ratios like ROCE, with YoY and QoQ growth.
Bharat Electronics Ltd reported sales of ₹7,328 Cr, operating profit of ₹2,041 Cr (OPM 28%) and net profit of ₹1,540 Cr for the quarter ended Sep 2026. Figures in ₹ crore, consolidated where available.
BEL quarterly results (₹ Cr)
Metric
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026
Jun 2026
Sep 2026
Sales
5,771
9,150
4,440
5,792
7,154
10,224
5,547
7,328
Expenses
4,101
6,334
3,201
4,090
5,027
7,243
4,159
5,287
Operating Profit
1,669
2,816
1,238
1,702
2,127
2,982
1,388
2,041
OPM
29%
31%
28%
29%
30%
29%
25%
28%
Other Income
186
195
163
154
139
110
170
187
Interest
1
6
1
2
2
2
1
3
Depreciation
111
138
121
126
135
173
161
171
Profit before tax
1,744
2,867
1,279
1,728
2,128
2,917
1,396
2,054
Tax
25%
26%
25%
26%
26%
24%
25%
25%
Net Profit
1,312
2,127
969
1,287
1,580
2,226
1,055
1,540
EPS in Rs
1.79
2.91
1.33
1.76
2.16
3.04
1.44
2.11
BEL profit & loss, annual (₹ Cr)
Metric
Mar 2022
Mar 2023
Mar 2024
Mar 2025
Mar 2026
TTM
Sales
15,368
17,734
20,268
23,769
27,610
30,253
Expenses
12,024
13,645
15,217
16,932
19,557
21,715
Operating Profit
3,344
4,090
5,051
6,837
8,053
8,538
OPM
22%
23%
25%
29%
29%
28%
Other Income
232
281
670
742
566
605
Interest
9
19
12
13
10
7
Depreciation
401
429
443
467
556
640
Profit before tax
3,166
3,923
5,266
7,099
8,053
8,496
Tax
26%
25%
25%
26%
25%
-
Net Profit
2,400
2,986
3,985
5,323
6,062
6,401
EPS in Rs
3.28
4.08
5.45
7.28
8.29
8.75
Dividend Payout
46%
44%
40%
33%
30%
-
BEL balance sheet (₹ Cr)
Metric
Mar 2024
Mar 2025
Sep 2025
Mar 2026
Sep 2026
Equity Capital
731
731
731
731
731
Reserves
15,595
19,243
20,836
23,257
25,528
Borrowings
63
61
59
65
85
Other Liabilities
23,136
20,788
21,299
20,473
19,204
Total Liabilities
39,524
40,824
42,925
44,527
45,548
Fixed Assets
3,035
3,419
4,114
4,121
4,573
CWIP
894
1,052
564
731
481
Investments
682
743
779
800
842
Other Assets
34,913
35,610
37,467
38,876
39,652
Total Assets
39,524
40,824
42,925
44,527
45,548
BEL cash flows (₹ Cr)
Metric
Mar 2022
Mar 2023
Mar 2024
Mar 2025
Mar 2026
Cash from Operating Activity
4,207
1,199
4,659
564
1,541
Cash from Investing Activity
-4,872
2,708
-5,924
639
1,730
Cash from Financing Activity
-1,078
-1,262
-1,475
-1,696
-2,097
Net Cash Flow
-1,742
2,645
-2,739
-493
1,175
Free Cash Flow
3,660
611
4,015
-444
560
CFO/OP
150%
55%
120%
33%
44%
CFO/EBITDAShare of operating profit converting into cash: CFO (before tax) / Operating Profit