Bharat Electronics Q2 FY27: PAT ₹1,048 Cr & Rev ₹5,533 Cr

Metric	Value
Revenue	₹5,533 Cr
Net Profit (PAT)	₹1,048 Cr

📢 Key Event
BEL reports Q1 FY27 revenue growth of 25.27% to ₹5533 crores and profit after tax of ₹1048 crores, with order inflow of INR307 crores and margin guidance of 28% for FY27.

🔄 What Changed
Profit after tax growth slowed to 8.17% YoY from 8.81% in prior period, while EBITDA margin guidance was raised to 28% for FY27, reflecting improved margin outlook despite project mix pressures.

🔮 What's Next
Target EBITDA margin of 28% by FY27 end, R&D spend to reach 8% of revenue long-term, export revenue to reach 10% of total in 5 years, and indigenization target of zero imports for modules/sub-modules within 5 years.

💡 Investor Takeaway
BEL is on track to meet FY27 margin and growth guidance, with strong order inflows and indigenization efforts supporting sustainable profitability and export expansion.

Bharat Electronics Limited reported Q1 FY27 revenue of ₹5533 crores, up 25.27% YoY, with profit after tax at ₹1048 crores, up 8.17% YoY, and EBITDA margin at 25.83%. The company highlighted a robust order book of INR72,000 crores, driven by major projects like LRSAM, MPR Arudhra, and Lynx U2, with order inflow of INR307 crores in Q1. Management expects margin expansion to 28% by FY27 end, supported by indigenization (78-80% target), R&D investment of INR2,200+ crores, and export growth targeting 10% of revenue. No material cost inflation risk is anticipated. Employee cost ratio remains stable at ~12%.

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About Bharat Electronics Limited (BEL)

Capital Goods · Aerospace & Defense · Listed on NSE

Market Cap: ₹3,09,678.78 Cr P/E: 62.0

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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