Bharat Electronics Complete Financial Statements
12 Years of Data
2026 - 2015
In FY2026, Bharat Electronics (BEL) reported revenue ₹10,335 Cr, net profit ₹2,226 Cr and EPS ₹3.04, with a net profit margin of 21.5% and ROE of 9.3%. Full financial statements from FY2015 to FY2026 (12 years) — income statement, balance sheet and cash flow in ₹ Crores. Download as Excel or CSV. Explore BEL Benjamin Graham valuation to estimate fundamental worth using multiple valuation models.
Complete Financial Data Export
Profitability Ratios
Net Profit Margin
21.54%
2026 data
EBITDA Margin
29.92%
2026 data
Operating Margin
29.00%
2026 data
Return on Assets
5.00%
2026 data
Return on Equity
9.28%
2026 data
Balance Sheet Ratios
Current Ratio
29.94
2026 data
Equity Ratio
53.86%
2026 data
Asset Turnover
0.23
2026 data
BEL Revenue, Net Profit & EBITDA — Year-on-Year Growth
BEL YoY (Mar 2025 vs Mar 2026) — revenue +10.6%, net profit +4.7%, EBITDA +2.7%, expenses +14.4%. Review BEL PE ratio trends to evaluate earnings-based valuation against sector peers.
Revenue Growth
+10.6%
Year-over-Year
Net Profit Growth
+4.7%
Year-over-Year
EBITDA Growth
+2.7%
Year-over-Year
Expense Growth
+14.4%
Year-over-Year
Assets Growth
+9.1%
Year-over-Year
Equity Growth
+20.0%
Year-over-Year
Operating Cash Flow Growth
-87.4%
Year-over-Year
Investing Cash Flow Growth
+110.4%
Year-over-Year
Financing Cash Flow Growth
-15.0%
Year-over-Year
BEL Income Statement — Revenue, EBITDA & Net Profit
Bharat Electronics revenue ₹10,335 Cr, EBITDA ₹3,092 Cr, net profit ₹2,226 Cr, EPS ₹3.04 (2026) — net profit margin 21.5%. For live price, earnings ratios and company overview, see BEL screener.
Periods
₹ Crores
| Particulars | Mar 2026 | Sept 2025 | Mar 2025 | Jun 2025 | Dec 2025 | Sept 2024 | Mar 2024 | Jun 2024 | Dec 2024 | Sept 2023 | Mar 2023 | Jun 2023 | Dec 2023 | Sept 2022 | Mar 2022 | Jun 2022 | Dec 2022 | Sept 2021 | Mar 2021 | Jun 2021 | Dec 2021 | Sept 2020 | Mar 2020 | Jun 2020 | Dec 2020 | Sept 2019 | Mar 2019 | Jun 2019 | Dec 2019 | Sept 2018 | Jun 2018 | Dec 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 10,335 | 5,946 | 9,344 | 4,603 | 7,292 | 4,763 | 8,790 | 4,447 | 5,957 | 4,146 | 6,545 | 3,673 | 4,330 | 3,981 | 6,276 | 3,170 | 4,124 | 3,699 | 6,828 | 1,621 | 3,721 | 3,196 | 5,757 | 1,658 | 2,293 | 2,675 | 3,819 | 2,088 | 2,216 | 3,302 | 2,113 | 2,695 |
| Expenses | 7,243 | 4,090 | 6,334 | 3,202 | 5,027 | 3,205 | 6,277 | 3,295 | 4,101 | 2,995 | 4,647 | 2,860 | 3,090 | 3,093 | 4,762 | 2,618 | 3,290 | 2,814 | 4,937 | 1,579 | 2,872 | 2,568 | 4,323 | 1,530 | 1,864 | 2,200 | 2,942 | 1,769 | 1,921 | 2,533 | 1,814 | 1,970 |
| EBITDA | 3,092 | 1,856 | 3,011 | 1,402 | 2,266 | 1,558 | 2,513 | 1,152 | 1,856 | 1,151 | 1,898 | 813 | 1,240 | 888 | 1,514 | 551 | 834 | 885 | 1,891 | 42 | 848 | 628 | 1,434 | 128 | 429 | 476 | 877 | 318 | 295 | 769 | 299 | 724 |
| Operating Profit Margin % | 29.00% | 29.00% | 31.00% | 28.00% | 30.00% | 30.00% | 27.00% | 22.00% | 29.00% | 25.00% | 28.00% | 19.00% | 26.00% | 21.00% | 23.00% | 15.00% | 19.00% | 23.00% | 27.00% | 0.00% | 22.00% | 19.00% | 25.00% | 7.00% | 18.00% | 17.00% | 22.00% | 14.00% | 12.00% | 23.00% | 14.00% | 26.00% |
| Depreciation | 173 | 127 | 138 | 121 | 135 | 111 | 119 | 108 | 111 | 108 | 114 | 109 | 108 | 109 | 106 | 99 | 106 | 99 | 97 | 97 | 98 | 97 | 101 | 94 | 100 | 91 | 99 | 88 | 92 | 80 | 74 | 85 |
| Interest | 2 | 2 | 6 | 1 | 2 | 1 | 4 | 1 | 1 | 2 | 3 | 1 | 1 | 2 | 4 | 1 | 10 | 1 | 6 | 0 | 0 | 0 | 2 | 0 | 0 | 1 | 11 | 0 | 0 | 0 | 1 | 0 |
| Profit Before Tax | 2,917 | 1,728 | 2,867 | 1,279 | 2,128 | 1,445 | 2,390 | 1,043 | 1,744 | 1,042 | 1,782 | 703 | 1,132 | 831 | 1,531 | 504 | 806 | 827 | 1,936 | 18 | 791 | 558 | 1,420 | 69 | 380 | 468 | 883 | 292 | 298 | 792 | 251 | 703 |
| Tax | 691 | 441 | 740 | 310 | 549 | 352 | 593 | 252 | 432 | 252 | 400 | 164 | 272 | 207 | 376 | 138 | 193 | 202 | 568 | -7 | 195 | 159 | 373 | 15 | 101 | 124 | 282 | 82 | 75 | 210 | 63 | 187 |
| Net Profit | 2,226 | 1,287 | 2,127 | 969 | 1,580 | 1,093 | 1,797 | 791 | 1,312 | 790 | 1,382 | 539 | 860 | 624 | 1,155 | 366 | 614 | 625 | 1,368 | 24 | 596 | 399 | 1,047 | 54 | 279 | 344 | 601 | 211 | 223 | 582 | 189 | 516 |
| Earnings Per Share (₹) | 3.04 | 1.76 | 2.91 | 1.33 | 2.16 | 1.50 | 2.46 | 1.08 | 1.79 | 1.08 | 1.90 | 0.74 | 1.17 | 0.86 | 4.74 | 1.50 | 0.83 | 2.56 | 5.62 | 0.10 | 2.45 | 1.64 | 4.30 | 0.22 | 1.14 | 1.42 | 2.46 | 0.86 | 0.91 | 2.39 | 0.77 | 2.12 |
BEL Balance Sheet — Assets, Liabilities & Shareholders' Equity
BEL total assets ₹44,538 Cr, total equity ₹23,988 Cr, total liabilities ₹ Cr (2026) — ROE 9.3%.
Years
Annual Data
₹ Crores
| Particulars | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||||||
| Total Assets | 44,538 | 40,832 | 39,527 | 35,491 | 33,911 | 29,490 | 24,348 | 20,821 | 18,961 | 17,596 | 18,604 | 15,726 |
| Current Assets | 38,057 | 34,858 | 34,063 | 30,048 | 27,294 | 23,713 | 18,738 | 15,874 | 14,305 | 14,067 | 15,833 | 14,006 |
| Fixed Assets | 4,852 | 3,419 | 3,035 | 2,963 | 2,675 | 2,652 | 2,713 | 2,298 | 1,839 | 1,501 | 1,232 | 1,073 |
| Capital Work in Progress | 486 | 1,052 | 894 | 855 | 1,006 | 883 | 828 | 849 | 940 | 743 | 430 | 140 |
| Investments | 10,176 | 743 | 682 | 650 | 1,572 | 1,306 | 1,110 | 964 | 937 | 491 | 462 | 0 |
| Other Assets | 0 | 35,618 | 34,916 | 31,023 | 28,657 | 24,649 | 19,697 | 16,710 | 15,244 | 14,861 | 16,480 | 14,512 |
| LIABILITIES | ||||||||||||
| Total Liabilities | ||||||||||||
| Current Liabilities | 1,271 | 1,087 | 1,156 | 1,046 | 2,027 | 1,586 | 1,397 | 1,147 | 1,036 | 1,096 | 902 | 637 |
| Non-Current Liabilities | ||||||||||||
| SHAREHOLDERS' EQUITY | ||||||||||||
| Total Equity | 23,988 | 19,993 | 16,344 | 13,879 | 12,302 | 11,075 | 10,086 | 9,225 | 8,029 | 7,750 | 9,251 | 8,123 |
| Share Capital | 731 | 731 | 731 | 731 | 244 | 244 | 244 | 244 | 244 | 223 | 240 | 80 |
| Reserves & Surplus | 23,257 | 19,243 | 15,596 | 13,131 | 12,042 | 10,816 | 9,828 | 8,968 | 7,772 | 7,512 | 9,006 | 8,037 |
BEL Cash Flow Statement — Operating, Investing & Financing
Bharat Electronics operating cash flow ₹587 Cr, investing ₹617 Cr, financing ₹-1,696 Cr, net cash flow ₹-493 Cr (2025).
Periods
₹ Crores
| Particulars | March 2025 | March 2024 | March 2023 | March 2022 | March 2021 | March 2020 | March 2019 | March 2018 | March 2017 | March 2016 | March 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | 587 | 4,660 | 1,199 | 4,207 | 5,093 | 2,570 | 1,514 | -687 | -61 | 2,260 | 1,434 |
| Investing Activities | 617 | -5,924 | 2,708 | -4,872 | -2,595 | -649 | -896 | -6 | 3,115 | -1,470 | -839 |
| Financing Activities | -1,696 | -1,475 | -1,262 | -1,078 | -1,076 | -1,061 | -663 | -1,202 | -2,857 | -318 | -209 |
| Net Cash Flow | -493 | -2,739 | 2,645 | -1,742 | 1,422 | 861 | -45 | -1,895 | 197 | 472 | 386 |