Bharat Electronics Ltd

BEL
Electronics
โ‚น 399.30
Price
โ‚น 291,955
Market Cap
Large Cap
53.08
P/E Ratio

๐Ÿ“Š Score Snapshot

19.88 / 25
Performance
25 / 25
Valuation
5.0 / 20
Growth
7.0 / 30
Profitability
56.88 / 100
Risky

๐Ÿข Company Overview

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๐Ÿค– CARL Insights

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๐Ÿ“ˆ Net Profit (Yearly)

๐Ÿ“Š Sales (Yearly)

๐Ÿ“‰ Quarterly Sales Trend

๐Ÿ“‰ Quarterly Net Profit

๐Ÿ“ˆ Yearly Ratios

Metric Mar 2025 Mar 2024 Mar 2023 Mar 2022 Mar 2021 Mar 2020 Mar 2019 Mar 2018
Adj Cash EBITDA 2,866 5,391 1,828 5,103 5,543 3,164 2,189 104.00
Adj Cash EBITDA Margin 13.00 28.26 11.12 32.25 38.84 27.23 18.54 1.07
Adj Cash EBITDA To EBITDA 0.38 0.95 0.42 1.43 1.66 1.11 0.73 0.05
Adj Cash EPS 0.84 5.06 0.62 5.38 5.89 2.92 1.50 -0.95
Adj Cash PAT 613.00 3,701 457.33 3,939 4,306 2,131 1,094 -698.27
Adj Cash PAT To PAT 0.12 0.92 0.15 1.64 2.05 1.17 0.58 -0.49
Adj Cash PE 349.31 44.60 158.43 13.34 7.14 7.99 21.58 -
Adj EPS 7.28 5.48 4.09 3.29 2.87 2.50 2.58 1.96
Adj EV To Cash EBITDA 70.89 28.28 34.26 8.49 4.39 4.50 9.90 322.65
Adj EV To EBITDA 26.82 26.77 14.36 12.14 7.29 4.98 7.27 15.02
Adj Number Of Shares 730.91 731.19 731.37 731.40 731.36 729.60 731.01 730.61
Adj PE 40.11 41.20 23.91 21.86 14.65 9.33 12.51 24.65
Adj Peg 1.22 1.21 0.98 1.49 0.99 - 0.40 -
Bvps 27.35 22.35 18.98 16.82 15.14 13.82 12.62 10.99
Cash Conversion Cycle 313.00 262.00 261.00 237.00 248.00 267.00 347.00 390.00
Cash ROCE 0.44 22.86 2.29 32.34 39.96 18.22 8.23 -15.43
Cash Roic -6.86 37.59 0.90 36.04 33.58 13.02 5.69 -14.84
Cash Revenue 22,045 19,078 16,433 15,822 14,271 11,618 11,805 9,755
Cash Revenue To Revenue 0.93 0.94 0.93 1.03 1.01 0.90 0.97 0.94
Dio 273.00 257.00 240.00 230.00 233.00 204.00 275.00 305.00
Dpo 100.00 128.00 124.00 139.00 155.00 126.00 89.00 91.00
Dso 140.00 133.00 145.00 145.00 170.00 189.00 161.00 176.00
Dividend Yield 0.82 0.97 1.84 2.10 3.14 3.97 3.52 1.38
EV 203,180 152,458 62,626 43,342 24,347 14,238 21,675 33,556
EV To EBITDA 26.82 26.89 14.38 12.16 7.30 4.98 7.27 15.03
EV To Fcff - 51.13 673.47 11.98 5.88 8.42 32.74 -
Fcfe 72.00 3,500 298.33 3,792 4,217 1,732 656.00 -1,231
Fcfe Margin 0.33 18.34 1.82 23.96 29.55 14.91 5.56 -12.62
Fcfe To Adj PAT 0.01 0.87 0.10 1.58 2.01 0.95 0.35 -0.86
Fcff -477.02 2,982 92.99 3,618 4,142 1,690 661.98 -1,370
Fcff Margin -2.16 15.63 0.57 22.87 29.02 14.55 5.61 -14.05
Fcff To NOPAT -0.10 0.86 0.03 1.62 2.05 0.96 0.36 -1.06
Market Cap 213,426 164,152 71,345 52,441 30,739 17,014 23,590 35,267
PB 10.68 10.04 5.14 4.26 2.78 1.69 2.56 4.39
PE 40.11 41.19 23.91 21.86 14.64 9.33 12.51 24.63
Peg 1.19 1.23 0.98 1.53 0.99 - 0.40 -
PS 8.98 8.10 4.02 3.41 2.18 1.31 1.94 3.39
ROCE 29.24 26.19 22.77 20.50 19.90 18.92 21.86 18.02
ROE 29.30 26.50 22.85 20.57 19.85 18.90 21.87 18.15
Roic 68.68 43.96 26.84 22.23 16.36 13.54 15.87 14.00
Share Price 292.00 224.50 97.55 71.70 42.03 23.32 32.27 48.27

๐Ÿ“Š Quarterly Results

Metric Jun 2025 Mar 2025 Dec 2024 Sep 2024 Jun 2024 Mar 2024 Dec 2023 Sep 2023 Jun 2023 Mar 2023 Dec 2022 Sep 2022 Jun 2022 Mar 2022
Sales 4,440 9,150 5,771 4,605 4,244 8,564 4,162 4,009 3,533 6,479 4,153 3,962 3,141 6,340
Interest 1.00 6.00 1.00 1.00 1.00 4.00 1.00 2.00 1.00 2.00 10.00 2.00 1.00 4.00
Expenses - 3,201 6,334 4,101 3,205 3,295 6,277 3,090 2,995 2,860 4,647 3,290 3,093 2,618 4,762
Other Income - 163.00 195.00 186.00 158.00 204.00 225.00 167.00 137.00 140.00 66.00 59.00 74.00 82.00 64.00
Depreciation 121.00 138.00 111.00 111.00 108.00 119.00 107.00 108.00 109.00 114.00 106.00 109.00 99.00 106.00
Profit Before Tax 1,279 2,867 1,744 1,445 1,043 2,390 1,132 1,041 703.00 1,782 806.00 831.00 504.00 1,531
Tax % 24.24 25.81 24.77 24.36 24.16 24.81 24.03 24.11 23.33 22.45 23.82 24.91 27.38 24.56
Net Profit - 969.00 2,127 1,312 1,093 791.00 1,797 860.00 790.00 539.00 1,382 614.00 624.00 366.00 1,155
Profit From Associates 8.00 6.00 10.00 9.00 10.00 11.00 12.00 9.00 10.00 16.00 10.00 10.00 10.00 9.00
Minority Share 1.00 - -1.00 - - - -1.00 - - - - -1.00 -1.00 -1.00
Profit Excl Exceptional 969.00 2,127 1,312 1,093 791.00 1,797 860.00 790.00 539.00 1,382 614.00 624.00 366.00 -
Profit For PE 969.00 2,127 1,311 1,092 791.00 1,797 860.00 789.00 538.00 1,382 613.00 624.00 366.00 1,154
Profit For EPS 970.00 2,127 1,311 1,092 791.00 1,797 860.00 789.00 538.00 1,382 613.00 624.00 366.00 1,154
EPS In Rs 1.33 2.91 1.79 1.49 1.08 2.46 1.18 1.08 0.74 1.89 0.84 0.85 0.50 1.58
PAT Margin % 21.82 23.25 22.73 23.74 18.64 20.98 20.66 19.71 15.26 21.33 14.78 15.75 11.65 18.22
PBT Margin 28.81 31.33 30.22 31.38 24.58 27.91 27.20 25.97 19.90 27.50 19.41 20.97 16.05 24.15
Tax 310.00 740.00 432.00 352.00 252.00 593.00 272.00 251.00 164.00 400.00 192.00 207.00 138.00 376.00
Yoy Profit Growth % 23.00 18.00 53.00 38.00 47.00 30.00 40.00 27.00 47.00 20.00 3.00 - 1,402 -16.00
Adj Ebit 1,281 2,873 1,745 1,447 1,045 2,393 1,132 1,043 704.00 1,784 816.00 834.00 506.00 1,536
Adj EBITDA 1,402 3,011 1,856 1,558 1,153 2,512 1,239 1,151 813.00 1,898 922.00 943.00 605.00 1,642
Adj EBITDA Margin 31.58 32.91 32.16 33.83 27.17 29.33 29.77 28.71 23.01 29.29 22.20 23.80 19.26 25.90
Adj Ebit Margin 28.85 31.40 30.24 31.42 24.62 27.94 27.20 26.02 19.93 27.54 19.65 21.05 16.11 24.23
Adj PAT 969.00 2,127 1,312 1,093 791.00 1,797 860.00 790.00 539.00 1,382 614.00 624.00 366.00 1,155
Adj PAT Margin 21.82 23.25 22.73 23.74 18.64 20.98 20.66 19.71 15.26 21.33 14.78 15.75 11.65 18.22
Ebit 1,281 2,873 1,745 1,447 1,045 2,393 1,132 1,043 704.00 1,784 816.00 834.00 506.00 1,536
EBITDA 1,402 3,011 1,856 1,558 1,153 2,512 1,239 1,151 813.00 1,898 922.00 943.00 605.00 1,642
EBITDA Margin 31.58 32.91 32.16 33.83 27.17 29.33 29.77 28.71 23.01 29.29 22.20 23.80 19.26 25.90
Ebit Margin 28.85 31.40 30.24 31.42 24.62 27.94 27.20 26.02 19.93 27.54 19.65 21.05 16.11 24.23
NOPAT 847.00 1,987 1,173 975.00 637.81 1,630 733.11 687.56 432.42 1,332 576.68 570.68 307.91 1,110
NOPAT Margin 19.08 21.71 20.32 21.17 15.03 19.03 17.61 17.15 12.24 20.56 13.89 14.40 9.80 17.52
Operating Profit 1,118 2,678 1,559 1,289 841.00 2,168 965.00 906.00 564.00 1,718 757.00 760.00 424.00 1,472
Operating Profit Margin 25.18 29.27 27.01 27.99 19.82 25.32 23.19 22.60 15.96 26.52 18.23 19.18 13.50 23.22

๐Ÿ’ฐ Profit & Loss

Metric Mar 2025 Mar 2024 Mar 2023 Mar 2022 Mar 2021 Mar 2020 Mar 2019 Mar 2018 Mar 2017 Mar 2016 Mar 2015 Mar 2014
Sales 23,769 20,268 17,734 15,368 14,109 12,968 12,164 10,401 8,656 7,354 7,093 6,518
Interest 10.00 12.00 19.00 9.00 10.00 8.00 16.00 6.00 18.00 10.00 7.00 7.00
Expenses - 16,935 15,217 13,645 12,024 10,895 10,209 9,255 8,361 6,864 5,961 5,913 5,593
Other Income - 742.00 644.00 273.00 225.00 124.00 99.00 73.00 194.00 418.00 572.00 505.00 431.00
Exceptional Items - 26.00 7.00 6.00 1.00 - - 1.00 2.00 - 2.00 7.00
Depreciation 467.00 443.00 429.00 401.00 387.00 372.00 338.00 272.00 212.00 192.00 166.00 150.00
Profit Before Tax 7,099 5,266 3,923 3,166 2,942 2,478 2,628 1,957 1,983 1,764 1,513 1,206
Tax % 25.02 24.33 23.88 24.19 28.62 26.35 28.20 26.88 23.20 24.21 20.89 21.06
Net Profit - 5,323 3,985 2,986 2,400 2,100 1,825 1,887 1,431 1,523 1,337 1,197 952.00
Profit From Associates 36.00 42.00 46.00 46.00 30.00 32.00 39.00 24.00 26.00 - - -
Minority Share -1.00 -1.00 -2.00 -1.00 -1.00 -1.00 - 1.00 - 1.00 - -
Exceptional Items At - 19.00 6.00 4.00 1.00 - - 1.00 1.00 - 1.00 5.00
Profit Excl Exceptional 5,323 3,966 2,981 2,396 2,099 1,825 1,886 1,430 1,522 1,337 1,196 947.00
Profit For PE 5,321 3,965 2,979 2,394 2,098 1,824 1,886 1,430 1,522 1,337 1,196 946.00
Profit For EPS 5,321 3,985 2,984 2,399 2,099 1,824 1,886 1,432 1,524 1,337 1,197 951.00
EPS In Rs 7.28 5.45 4.08 3.28 2.87 2.50 2.58 1.96 2.07 1.69 1.51 1.20
Dividend Payout % 33.00 40.00 44.00 46.00 46.00 37.00 44.00 34.00 33.00 31.00 20.00 20.00
PAT Margin % 22.39 19.66 16.84 15.62 14.88 14.07 15.51 13.76 17.59 18.18 16.88 14.61
PBT Margin 29.87 25.98 22.12 20.60 20.85 19.11 21.60 18.82 22.91 23.99 21.33 18.50
Tax 1,776 1,281 937.00 766.00 842.00 653.00 741.00 526.00 460.00 427.00 316.00 254.00
Adj Ebit 7,109 5,252 3,933 3,168 2,951 2,486 2,644 1,962 1,998 1,773 1,519 1,206
Adj EBITDA 7,576 5,695 4,362 3,569 3,338 2,858 2,982 2,234 2,210 1,965 1,685 1,356
Adj EBITDA Margin 31.87 28.10 24.60 23.22 23.66 22.04 24.51 21.48 25.53 26.72 23.76 20.80
Adj Ebit Margin 29.91 25.91 22.18 20.61 20.92 19.17 21.74 18.86 23.08 24.11 21.42 18.50
Adj PAT 5,323 4,005 2,991 2,405 2,101 1,825 1,887 1,432 1,525 1,337 1,199 957.53
Adj PAT Margin 22.39 19.76 16.87 15.65 14.89 14.07 15.51 13.77 17.61 18.18 16.90 14.69
Ebit 7,109 5,226 3,926 3,162 2,950 2,486 2,644 1,961 1,996 1,773 1,517 1,199
EBITDA 7,576 5,669 4,355 3,563 3,337 2,858 2,982 2,233 2,208 1,965 1,683 1,349
EBITDA Margin 31.87 27.97 24.56 23.18 23.65 22.04 24.51 21.47 25.51 26.72 23.73 20.70
Ebit Margin 29.91 25.78 22.14 20.58 20.91 19.17 21.74 18.85 23.06 24.11 21.39 18.40
NOPAT 4,774 3,487 2,786 2,231 2,018 1,758 1,846 1,293 1,213 910.24 802.18 611.78
NOPAT Margin 20.08 17.20 15.71 14.52 14.30 13.56 15.18 12.43 14.02 12.38 11.31 9.39
Operating Profit 6,367 4,608 3,660 2,943 2,827 2,387 2,571 1,768 1,580 1,201 1,014 775.00
Operating Profit Margin 26.79 22.74 20.64 19.15 20.04 18.41 21.14 17.00 18.25 16.33 14.30 11.89

๐Ÿฆ Balance Sheet

Metric Mar 2025 Sep 2024 Mar 2024 Sep 2023 Mar 2023 Mar 2022 Mar 2021 Mar 2020 Mar 2019 Mar 2018
Accumulated Depreciation - - 3,003 - 2,578 2,157 1,763 1,380 1,011 673.00
Advance From Customers - - 15,891 - 14,823 14,508 35.00 36.00 - 7,024
Average Capital Employed 18,230 16,318 15,174 - 13,148 11,716 10,586 9,677 8,684 7,962
Average Invested Capital 6,952 11,011 7,932 - 10,381 10,038 12,334 12,984 11,634 9,233
Average Total Assets 40,178 38,036 37,507 - 34,701 31,702 26,922 22,586 19,893 18,282
Average Total Equity 18,168 16,256 15,112 - 13,091 11,688 10,580 9,656 8,627 7,889
Cwip 477.00 668.00 894.00 433.00 855.00 1,006 883.00 828.00 849.00 940.00
Capital Employed 20,054 17,739 16,407 14,896 13,941 12,355 11,078 10,095 9,259 8,110
Cash Equivalents 9,545 8,316 11,057 8,226 8,112 7,564 5,074 1,660 972.00 841.00
Fixed Assets 3,994 3,473 3,035 3,427 2,963 2,675 2,652 2,713 2,298 1,839
Gross Block - - 6,038 - 5,541 4,832 4,415 4,092 3,309 2,512
Inventory 9,119 9,362 7,450 6,732 6,450 5,595 4,970 3,961 4,443 4,583
Invested Capital 9,733 8,667 4,170 13,355 11,695 9,067 11,010 13,658 12,310 10,957
Investments 743.00 728.00 682.00 651.00 650.00 1,572 1,306 1,110 964.00 937.00
Lease Liabilities 61.00 61.00 63.00 61.00 61.00 53.00 3.00 - - -
Loans N Advances 32.00 27.00 499.00 - 528.00 271.00 260.00 402.00 415.00 396.00
Long Term Borrowings - - - - - - - - - 33.00
Net Debt -10,227 -8,983 -11,676 -8,816 -8,701 -9,083 -6,377 -2,762 -1,902 -1,698
Net Working Capital 5,262 4,526 241.00 9,495 7,877 5,386 7,475 10,117 9,163 8,178
Non Controlling Interest 19.00 18.00 18.00 18.00 18.00 16.00 15.00 14.00 13.00 13.00
Other Asset Items 7,805 9,004 8,515 9,460 8,900 9,121 7,785 6,953 5,506 4,413
Other Borrowings - - - - - - - 8.00 34.00 33.00
Other Liability Items 17,439 18,749 3,520 18,477 3,396 3,680 15,080 11,770 10,128 2,462
Reserves 19,243 16,929 15,595 14,085 13,131 12,042 10,816 9,828 8,968 7,772
Share Capital 731.00 731.00 731.00 731.00 731.00 244.00 244.00 244.00 244.00 244.00
Short Term Borrowings - - - - - - - - - 14.00
Short Term Loans And Advances - - 1.00 2.00 10.00 11.00 10.00 11.00 28.00 9.00
Total Assets 40,832 39,806 39,524 36,267 35,490 33,912 29,492 24,351 20,821 18,965
Total Borrowings 61.00 61.00 63.00 61.00 61.00 53.00 3.00 8.00 34.00 80.00
Total Equity 19,993 17,678 16,344 14,834 13,880 12,302 11,075 10,086 9,225 8,029
Total Equity And Liabilities 40,832 39,806 39,524 36,267 35,490 33,912 29,492 24,351 20,821 18,965
Total Liabilities 20,839 22,128 23,180 21,433 21,610 21,610 18,417 14,265 11,596 10,936
Trade Payables 3,339 3,318 3,706 2,894 3,330 3,369 3,299 2,450 1,434 1,369
Trade Receivables 9,116 8,227 7,392 14,672 14,066 12,216 13,124 13,448 10,748 10,028

๐Ÿ’ต Cash Flows

Metric Mar 2025 Mar 2024 Mar 2023 Mar 2022 Mar 2021 Mar 2020 Mar 2019 Mar 2018
Cash From Financing Activity -1,696 -1,475 -1,262 -1,078 -1,076 -1,061 -663.00 -1,202
Cash From Investing Activity 617.00 -5,924 2,708 -4,872 -2,595 -649.00 -896.00 -6.00
Cash From Operating Activity 587.00 4,659 1,199 4,207 5,093 2,570 1,514 -687.00
Cash Paid For Loan Advances - - - - 41.00 -6.00 -4.00 -3.00
Cash Paid For Purchase Of Fixed Assets -1,011 -653.00 -590.00 -555.00 -469.00 -747.00 -729.00 -807.00
Cash Paid For Purchase Of Investments -61.00 -33.00 - -266.00 -196.00 -146.00 -27.00 -451.00
Cash Paid For Repayment Of Borrowings - - - - -8.00 -25.00 -47.00 -
Cash Received From Borrowings - - - - - - - -
Cash Received From Sale Of Fixed Assets 3.00 9.00 2.00 7.00 1.00 1.00 - 2.00
Cash Received From Sale Of Investments - - 922.00 - - - - -
Change In Inventory -1,672 -1,065 -1,012 -612.00 -997.00 474.00 283.00 164.00
Change In Other Working Capital Items -947.00 1,576 -183.00 1,621 2,150 172.00 -778.00 -1,717
Change In Payables -368.00 376.00 -39.00 70.00 849.00 1,016 65.00 72.00
Change In Receivables -1,724 -1,190 -1,301 454.00 162.00 -1,350 -359.00 -646.00
Change In Working Capital -4,710 -304.00 -2,534 1,534 2,205 306.00 -793.00 -2,130
Direct Taxes Paid -1,675 -1,418 -1,067 -804.00 -533.00 -574.00 -772.00 -681.00
Dividends Paid -1,681 -1,462 -1,243 -1,023 -1,023 -980.00 -566.00 -820.00
Interest Paid -10.00 -7.00 -15.00 -5.00 -6.00 -4.00 -13.00 -2.00
Interest Received 673.00 443.00 278.00 176.00 60.00 71.00 36.00 159.00
Net Cash Flow -493.00 -2,739 2,645 -1,742 1,422 861.00 -45.00 -1,895
Other Cash Financing Items Paid -6.00 -6.00 -4.00 -50.00 -39.00 -51.00 -37.00 -380.00
Other Cash Investing Items Paid 1,013 -5,690 2,097 -4,235 -1,992 172.00 -176.00 1,091
Other Cash Operating Items Paid - - - - - - - 29.00
Profit From Operations 6,972 6,382 4,801 3,478 3,421 2,839 3,079 2,096

๐Ÿงพ Shareholding Pattern

Nse Code Date Promoters Fii Dii Public Others
Bel 2025-06-30 - 18.56 20.60 9.70 0.00
Bel 2025-03-31 - 17.55 20.87 10.43 0.00
Bel 2024-12-31 - 17.34 20.94 10.58 0.00
Bel 2024-09-30 - 17.27 20.22 11.37 0.00
๐Ÿ’ฌ
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