Bharat Electronics Ltd.Strong Growth Momentum Continues

Bharat Electronics delivered robust Q1 FY27 performance with revenue from operations surging 25.27% year-on-year to ₹5,533 crores, significantly outpacing the full-year guidance of 15% growth.

Profit after tax grew 8.17% to ₹1,048 crores, while earnings per share increased 7.52% to ₹1.43. The order book remains healthy at ₹72,258 crores, representing 2.4 times trailing revenue. Management reaffirmed FY27 guidance of 15% revenue growth and 28% EBITDA margin despite Q1 margin compression to 25.83%, attributing the variance to product mix. The much-anticipated ₹30,000 crore QRSAM order is expected by September 2026 following Cabinet Committee on Security approval, with all preparatory work completed.

Additional major orders including Shatrughat, Samaghat, and naval platform contracts totaling ₹15,000+ crores are in the pipeline, supporting the ₹55,000+ crore order inflow target. BEL is pursuing ambitious indigenization goals targeting zero module-level imports within five years while improving receivables from 176 days to 140 days, demonstrating operational efficiency.