Bharat Dynamics Limited

Capital Goods · Aerospace & Defense

NSE: BDL BSE: 541143

₹1110.10

Sept. 30, 2026 · NSE · nse_bhavcopy

Peers in Aerospace & Defense

The largest companies in the same industry by market cap. This company ranks #3 of 26. PE, ROE, 1Y return and scores come from the daily/weekly precomputed snapshot.

Company	Market cap (₹ Cr)	PE (TTM)	ROE	1Y return	Div. yield	Quality	Valuation	Momentum
Hindustan Aeronautics Limited	312,184	33.6	22.2%	-2.8%	—	90	12	31
Bharat Electronics Limited	283,839	46.4	25.3%	-4.5%	—	96	0	13
Bharat Dynamics Limited (this stock)	40,692	78.1	11.3%	-28.0%	—	87	0	11
Garden Reach Shipbuilders & Engineers Limited	24,994	31.2	26.2%	-17.5%	0.90%	80	38	8
Data Patterns (India) Limited	24,000	89.6	15.6%	62.9%	0.23%	69	0	30
Aequs Limited	18,744	—	—	—	—	74	0	92
SIGMA ADVANCED SYSTEMS LIMITED	18,077	324.6	56.4%	554.4%	—	84	0	92
Astra Microwave Products Limited	15,540	89.0	14.7%	63.1%	0.15%	65	0	66

Valuation multiples

Current only. Market cap is the whole company's; sales/EBITDA are trailing-twelve-month standalone; debt and cash come from the latest filed standalone balance sheet (March 31, 2026). EBITDA = PBT + interest + depreciation.

Enterprise value

₹39,829 Cr

EV / EBITDA

50.3x

EV / Sales

14.40x

Market cap / Sales

14.71x

Earnings yield

1.28%

Quarterly Financials

Download CSV

Standalone Consolidated

↑ Positive

Quarterly Revenue

Jun 2026 quarterly revenue is Rs 676 Cr, up 101.8% YoY.

Period end	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)	Basic EPS
June 30, 2026	572	166	119	₹3.2400
March 31, 2026	480	154	113	₹3.0900
Dec. 31, 2025	567	103	73	₹1.9900
Sept. 30, 2025	1,147	288	—	₹5.8900
June 30, 2025	248	23	18	₹0.5000
March 31, 2025	1,777	378	273	₹7.4400
Dec. 31, 2024	832	193	147	₹4.0100
Sept. 30, 2024	545	166	123	₹3.3400
June 30, 2024	191	11	7	₹0.2000
March 31, 2024	854	388	289	₹7.8800
Dec. 31, 2023	602	189	135	₹7.3700
Sept. 30, 2023	616	194	147	₹8.0300
June 30, 2023	298	57	42	₹2.2800

Quarterly income statement (standalone, ₹ Cr)

Indicator	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23
Total income (before exceptional items)	676	599	664	1,268	335	1,877	917	631	272	943	689	694	405
Operating revenue	572	480	567	1,147	248	1,777	832	545	191	854	602	616	298
Other income	103	119	97	121	87	100	84	86	80	88	88	78	107
Operating expenses	489	425	541	960	293	1,478	705	446	243	538	483	482	330
Operating profit	83	55	26	188	-45	299	127	99	-52	316	119	134	-33
Operating profit margin	14.5%	11.5%	4.6%	16.3%	-18.3%	16.8%	15.2%	18.1%	-27.4%	37.0%	19.7%	21.8%	-11.0%
Depreciation	20	20	19	19	18	20	18	18	16	16	16	17	17
Interest	1	1	1	1	1	1	1	1	1	1	1	1	1
Exceptional items, gain / (loss)	—	—	—	—	—	—	—	—	—	—	—	—	—
Profit before tax	166	154	103	288	23	378	193	166	11	388	189	194	57
Tax	47	41	30	72	5	105	46	44	4	99	54	47	15
Net profit	—	113	73	—	18	273	147	123	7	289	135	147	42
EPS	3.24	3.09	1.99	5.89	0.50	7.44	4.01	3.34	0.20	7.88	7.37	8.03	2.28
Net profit (TTM)	—	—	—	—	561	550	566	554	578	613	477	425	354
EPS (TTM)	14.21	11.47	15.82	17.84	15.29	14.99	15.43	18.79	23.48	25.56	26.01	23.21	19.32

Total income excludes exceptional items, which are shown on their own row. Trendlyne and Screener fold exceptional items into revenue or other income, so their totals differ from this table by exactly that row.

Annual Financials

Year ended	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)
March 31, 2026	2,442	568	420
March 31, 2025	3,345	749	550
March 31, 2024	2,369	828	613
March 31, 2023	2,489	482	352

Annual income statement (standalone, ₹ Cr; CAGR to the latest year)

Indicator	CAGR 3Y	CAGR 5Y	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19
Total income (before exceptional items)	2.7%	7.2%	2,866^†	3,695^†	2,731^†	2,645^†	2,929^†	2,026^†	3,211^†	3,205^†
Operating revenue	-0.6%	5.1%	2,442	3,345	2,369	2,489	2,817^†	1,904^†	3,095^†	3,069^†
Other income	—	—	424^†	350^†	362^†	155^†	111^†	122^†	116^†	136^†
Operating expenses	—	—	2,218^†	2,873^†	1,833^†	2,081^†	2,091^†	1,587^†	2,368^†	2,447^†
Operating profit	-18.2%	-6.8%	223^†	472^†	537^†	408^†	726^†	318^†	728^†	622^†
Operating profit margin	—	—	9.1%^†	14.1%^†	22.6%^†	16.4%^†	25.8%^†	16.7%^†	23.5%^†	20.3%^†
Depreciation	—	—	76^†	71^†	67^†	77^†	90^†	95^†	96^†	83^†
Interest	—	—	3^†	3^†	3^†	5^†	3^†	4^†	5^†	4^†
Exceptional items, gain / (loss)	—	—	0^†	0^†	0^†	0^†	-34^†	0^†	0^†	0^†
Profit before tax	5.6%	10.7%	568	749	828	482	710^†	341^†	742^†	671^†
Tax	—	—	147^†	199^†	216^†	130^†	210^†	83^†	208^†	249^†
Net profit	6.1%	10.3%	420	550	613	352	500^†	258^†	535^†	423^†
EPS	-15.8%	-4.0%	11.47^†	14.99^†	25.56^†	19.21^†	27.28^†	14.06^†	29.18^†	—

^† Derived: the sum of that fiscal year's four quarterly filings (a real annual filing is used wherever one exists). Checked against filed annual figures, the sum lands within 0.5% for about 94% of company-years.

Annual ratios (standalone)

Ratio	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19
Operating margin	9.1%^†	14.1%^†	22.6%^†	16.4%^†	25.8%^†	16.7%^†	23.5%^†	20.3%^†
EBIT margin	23.4%^†	22.5%^†	35.1%^†	19.5%^†	25.3%^†	18.1%^†	24.1%^†	22.0%^†
PBT margin	23.3%	22.4%	35.0%	19.4%	25.2%^†	17.9%^†	24.0%^†	21.9%^†
Net margin	17.2%	16.4%	25.9%	14.1%	17.7%^†	13.5%^†	17.3%^†	13.8%^†
Interest coverage	168.64x^†	227.27x^†	267.73x^†	107.21x^†	208.32x^†	88.12x^†	160.47x^†	159.69x^†
Dividend payout	—	—	—	—	—	—	—	—
Earnings retention	—	—	—	—	—	—	—	—
Current ratio	2.01x	2.38x	—	—	—	—	—	—
Quick ratio	1.28x	1.77x	—	—	—	—	—	—
Debt to equity	0.00x	0.00x	—	—	—	—	—	—
Return on equity	9.9%	13.7%	—	—	—	—	—	—
Return on assets	2.9%	4.7%	—	—	—	—	—	—
Return on capital employed	7.2%^†	10.2%^†	—	—	—	—	—	—
Asset turnover	0.17x	0.28x	—	—	—	—	—	—

Margins and asset turnover use operating revenue (interest earned for banks, excluding other income), not total income. Liquidity, leverage and return ratios need a filed standalone balance sheet, which exists only for recent years; returns use year-end equity/assets. Dividend payout is shown only for companies with a dividend record. † = built from a summed fiscal year.

Revenue Mix

Data unavailable.

Cash Flow

Year ended	Operating (₹ Cr)	Investing (₹ Cr)	Financing (₹ Cr)	Capex (₹ Cr)	Free Cash Flow (₹ Cr)
March 31, 2026	604	320	-194	217	387
March 31, 2025	167	-407	-220	108	59
March 31, 2024	412	-722	-148	81	331
March 31, 2023	2,130	-1,171	-171	108	2,022
March 31, 2022	530	-573	-149	101	429

Balance Sheet (standalone)

Year ended	Total Assets (₹ Cr)	Total Equity (₹ Cr)	Reserves (₹ Cr)	Borrowings, Current (₹ Cr)	Borrowings, Non-current (₹ Cr)	Current Assets (₹ Cr)	Current Liabilities (₹ Cr)	Cash & Equivalents (₹ Cr)	Net Block (₹ Cr)	Inventory (₹ Cr)
March 31, 2026	14,261	4,241	4,058	0	0	12,757	6,346	863	700	4,626
March 31, 2025	11,742	4,009	3,826	0	0	10,378	4,360	134	667	2,645
March 31, 2024	—	—	—	—	—	—	—	—	—	—
March 31, 2023	—	—	—	—	—	—	—	—	—	—
March 31, 2022	—	—	—	—	—	—	—	—	—	—

Financial charts

Trend charts drawn from the standalone income-statement and ratio tables above (oldest year on the left); a gap means that period has no figure. Annual years marked † in the tables are derived from four quarters.