Navratna defence public sector undertaking Bharat Electronics Limited (BEL) has secured additional orders worth Rs 730 crore since its last disclosure on August 10, 2026, the company said in an exchange filing.
The major orders include communication equipment, radar, avionics, tank subsystems, electro-optics, cyber security, perimeter security and medical electronics. The order book additions also include electronic voting machines (EVMs), jammers, batteries, spares and various services, further diversifying BEL's order inflows across its defence and electronics portfolio.
Bharat Electronics Q1 Results - Standalone
- Revenue at Rs 5,533.06 crore vs estimate of Rs 5,086 crore
- EBITDA at Rs 1,389.2 crore vs estimate of Rs 1,417 crore
- EBITDA margin at 25.1% vs estimate of 27.86%
- Net profit (PAT) at Rs 1,048.33 crore vs estimate of Rs 1,077 crore
BEL ended the quarter with an order book of Rs 72,258 crore, while management indicated that large opportunities such as the Rs 30,000-crore QRSAM programme and the Rs 14,000-crore P-75(I) submarine project remain key catalysts.
JPMorgan retained its 'Overweight' rating with a target price of Rs 525, describing BEL as its top pick in India's defence sector. The brokerage said the quarter's margin pressure was largely attributable to product mix and maintained that the company's FY27 guidance remains intact. Goldman Sachs reiterated its 'Buy' rating while trimming its target price marginally to Rs 470 from Rs 475.
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Macquarie remained among the most bullish, raising its target price to Rs 550 from Rs 510 while maintaining an 'Outperform' rating. Jefferies also retained its 'Buy' recommendation despite lowering its target price to Rs 550 from Rs 585.
BEL Share Price Today
BEL shares closed 1.54% lower at Rs 406.90 per share on Wednesday. The stock has declined 0.56% over the past one week, while it has gained 0.47% in the last one month. On a year-to-date basis, BEL shares are up 2.31%, while the stock has advanced 11.22% over the past one year.
BEL continues to be one of the Street's preferred defence plays despite reporting a weaker-than-expected operating margin in the June quarter, with leading brokerages reiterating bullish views on the company's long-term growth prospects driven by a robust order pipeline and rising defence spending.
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