Bharat Electronics Ltd.Strong Growth Momentum Continues

Bharat Electronics Ltd. delivered robust performance in Q3 FY26, with revenue from operations growing 19% year-on-year to ₹17,302 crores for the nine-month period.

Profit after tax surged 21% to ₹3,845 crores, while EBITDA margin expanded by 200 basis points to 30%, significantly beating the 27% guidance. The company's order book stands at a record ₹73,450 crores as of January 28, 2026, with order inflow of ₹19,300 crores achieved so far. Management expressed over 90% confidence in securing the landmark QRSAM order worth ₹30,000-32,000 crores in Q4 FY26. The company reaffirmed its commitment to achieving over 15% revenue growth for FY26 and maintaining this momentum for the next 3-4 years, backed by a strong pipeline of ₹25,000+ crores excluding QRSAM for FY27.

R&D investment is being scaled up to ₹1,700+ crores in FY26 and targeting ₹2,000+ crores in FY27, with over 3,200 engineers now dedicated to research and development initiatives.