Bharat Electronics Limited (BEL), a Navratna defence PSU, has announced its Q2 FY2025-26 results, showcasing significant growth in both net profit and revenue. The company's Board of Directors approved the results in a meeting held on October 31, 2025.
Financial Performance
BEL reported a consolidated profit after tax (PAT) of ₹1,287.77 crore for the September quarter, marking a 17.87% increase compared to ₹1,092.45 crore in the same period last year. This figure surpassed expectations, exceeding ET NOW's projection of ₹1,085 crore.
The company's revenue from operations climbed 25.78% to ₹5,792.09 crore, up from ₹4,604.90 crore in Q2 FY25. This substantial growth in revenue reflects strong operational performance and order execution.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at ₹1,702 crore for the quarter under review, compared to ₹1,400 crore in Q2 FY25, representing a jump of 21.59%. However, the EBITDA margin stood at 29.39% versus 30.40% a year back.
Order Book and Future Outlook
As of October 1, 2025, BEL's order book position stood at a robust ₹74,453 crore. This substantial order backlog provides strong visibility for future revenue and earnings growth.
Analysts anticipate continued strong performance from BEL, citing its robust order book and focus on indigenization. Nuvama expects BEL to maintain comfortable margins at 28% levels, driven by higher operational efficiency and localization efforts. The company is expected to benefit from a ₹1 lakh crore-plus pipeline over the next 18–24 months.
Antique Stock Broking had expected BEL to report a 3% year-on-year rise in net profit at ₹1,129 crore, with sales jumping 18% year-on-year to ₹5,408 crore. MOFSL had projected a Q2 net profit of ₹1,117.80 crore, up 2.4% year-on-year, with net sales at ₹5,258 crore, up 14.7%.
Stock Performance
Following the earnings announcement, Bharat Electronics shares rose as much as 3.31% to hit an intraday high of ₹423.50. Ahead of the results, BEL shares were trading 1.05% higher at ₹414.25 on BSE.
About Bharat Electronics Ltd.
Bharat Electronics Ltd. (BEL) is a Navratna Public Sector Undertaking (PSU) that manufactures state-of-the-art electronic products. The company, under the Ministry of Defence, produces radars, naval systems, communication products, and other defence electronics for the Army, Navy, and Air Force.
