Stock · BEL · Defence PSU
BEL share price target 2026
Support, resistance, the F&O structure and the BazaarBaazi Crack Score for Bharat Electronics Ltd, refreshed every end-of-day run. Radar, fire-control, and electronic-warfare order flow. The execution proxy for the entire defence-electronics rotation.
The verdict
BazaarBaazi reads BEL as range-bound with a Crack Score of 58/100 as of 28 Jul 2026.
BazaarBaaziSource & method
The scanner's readScanned · scanned 31 Jul 2026
Where BEL stands on the 500-name BazaarBaazi setup scanner: technicals, filed fundamentals and money flow read together, refreshed every run.
Scanned and scored this run, but the evidence is incomplete or conflicted. The engine fails closed to NO_TRADE.
Technical axis
100/100Fundamental axis
40/100Money flow
29/100Result pulse · Q4 FY26
80/100Technical evidence
money-flow score 28.9/100 (weak)
Chaikin money flow -0.071 (distribution)
up/down volume 0.73x (sellers dominant)
OBV falling
RS slope -11.8% (3m)
RS line well below its high
relative strength falling vs NIFTY
below 50DMA
Red flags
below 200DMA (not a long-side trend)
strong filed result (score 80.0)
Relative valuation
P/E (TTM)
46.8P/E vs sector
+0.9%Sector percentile
48PEG
10.02Scanner levels from the deterministic engine run of 2026-07-31, not a SEBI-registered recommendation and not investment advice. The fundamental axis reads the official filing: Q4 FY26 result.
Price target: support and resistanceComputed 28 Jul 2026
Support and resistance for BEL are read inside the latest show; no spot was printed in the most recent editorial note.
Levels are read inside the latest show. The most recent editorial reference is Closing Bell Flash on 28 Jul 2026.
These are structural reference lines, not a SEBI-registered price target. BazaarBaazi is independent media; the levels frame how the desk reads the BEL chart, refreshed every end-of-day run.
The Crack Score, and how it is built58 / 100 · Constructive
The Crack Score is a deterministic 0 to 100 conviction number. Here is exactly what moved it for BEL, so the figure is a transparent signal rather than a vibe.
Base 50, adjusted by the factors above and clamped to 0 to 100. How the Crack Score works.
About Bharat Electronics LtdBusiness profile
What BEL actually does, and the edge that holds its position.
BEL is the brain-and-sensor supplier sitting inside almost every Indian military platform, the state-owned electronics house whose radars, jammers and combat systems are too sensitive for the government to source from foreign vendors. It builds radar systems, electronic warfare suites, communication and naval systems and homeland-security gear for the armed forces and paramilitaries, and is the default defence-electronics supplier across virtually every platform the services field. A growing civilian line in products like electronic voting machines and smart-city systems sits alongside, but the large majority of revenue still comes from domestic defence contracts.
BEL's moat is its position as the default domestic supplier of classified and strategically sensitive defence electronics, a segment where the government cannot rely on foreign vendors for supply security. Its DRDO-joint-development partnerships give it access to platforms at the design stage, creating a long-tail MRO and upgrade relationship with every platform it equips.
The F&O viewHorizon · 1d
How the futures and options structure on BEL reads right now.
The editorial price read on BEL is neutral. Strike-level option inventory is unavailable, so the page withholds writer, wall and pin claims. Single-stock F&O on BEL can be thinner than index F&O, so the desk weights price and filed evidence over raw OI. This is not a derivatives trade recommendation.
Why it movedSession -4.46%
The most recent BazaarBaazi read on what is driving BEL.
On the bleeding side, BEL fell -4.46%, COALINDIA dropped -4.00%, NTPC lost -2.19%, and ICICIBANK slipped -1.92%.
Read in Closing Bell Flash on 28 Jul 2026. Why BEL moved, the living explainer, tracks every move on one URL.
The 2026 to 2030 pictureStructural read
What genuinely drives BEL over a multi-year horizon. A structural read, not a price forecast.
Over 2026 to 2030 BEL benefits from India's defence modernisation plans across all three services and the consistent push to increase domestic procurement in defence electronics. New programmes including the next-generation radar networks, electronic warfare systems and naval combat management systems are all within BEL's core domain. The risk is slower-than-expected budget allocation to defence electronics versus platforms, and increased competition from private-sector players as the indigenisation policy opens up. WHAT BAZAARBAAZI THINKS: BEL is the higher-quality way to ride defence than the platform-makers, because electronics convert to revenue faster than ships or jets and every platform it equips drags a long upgrade-and-service tail behind it; the risk the Crack Score cannot capture is the slow erosion as private defence-electronics players win share, so the day BEL stops being the automatic single source is the day the moat, not the order book, starts to crack.
What to watch:
- Order book and execution ratio as the primary revenue pipeline indicator
- New order categories: naval, electronic warfare and space-related defence
- Margin trajectory as private sector competition intensifies
- Civilian business revenue share as a diversification signal
- Defence capital expenditure budget allocation in Union Budgets
Peers and how to compare4 listed names
The listed names BEL is most often read against. Compare them on the same Crack Score and levels.
Hindustan Aeronautics (defence platform maker) · HAL
Read the HAL verdict and levels
Bharat Dynamics (missiles and torpedoes, listed)
Listed peer in the same space
Astra Microwave Products (listed, defence electronics)
Listed peer in the same space
Data Patterns (listed, defence electronics)
Listed peer in the same space
Stored valuation readStored 2026-08-10
P/E, P/B, yield and the quality set for Bharat Electronics Ltd, computed only from the stored fundamentals snapshot dated 2026-08-10. No carried market price is presented as current.
P / E
48.3x
Earnings yield
2.07%
P / B
12.32x
P / S
10.29x
EV / EBITDA
35.1x
Dividend yield
0.62%
Market cap
Rs 2.96 lakh cr
Enterprise value
Rs 2.87 lakh cr
Stored from Bharat Electronics Ltd's filed results, as of 2026-08-10 and currency-checked. Price input Rs 404.35 from baked EOD spot. Open the calculator, move the price and watch every ratio react.
Latest filed resultsQ4 FY26
Bharat Electronics Ltd's most recent quarter, parsed straight from the official NSE filing. Every figure links back to its primary source.
Result Pulse
80 / 100Revenue
Rs 10,224 crNet profit
Rs 2,226 crEPS (quarter)
Rs 3.04| Growth | YoY | QoQ |
|---|---|---|
| Revenue | +11.8% | +42.9% |
| Net profit | +4.7% | +40.9% |
| Net margin | +21.8% | |
Figures are the Q4 FY26 result for Bharat Electronics Limited, parsed straight from the official NSE integrated filing and verified to the paisa. The EPS shown is for the quarter, not a trailing-twelve-month figure, so it is not a P/E input.
Earnings history, every filed quarter32 quarters on record
Bharat Electronics Ltd's official quarterly revenue, EPS and Result Pulse trail, every quarter the desk holds from the verified filings export, back to 30 Jun 2018. These are quarterly facts, not TTM valuation inputs.
BEL official result trail
32 quarters
Quarterly figures only: revenue, net profit and EPS are copied from official filings. EPS here is not trailing twelve month EPS and is not used for valuation.
| Quarter | Revenue | EPS | PAT YoY | Pulse | Source |
|---|---|---|---|---|---|
| Q4 FY26ended 31 Mar 2026 / Consolidated, audited | Rs 10,224 cr | Rs 3.04 | n/a | n/a | Filing |
| Q3 FY26ended 31 Dec 2025 / Consolidated, audited | Rs 7,154 cr | Rs 2.16 | n/a | 64/100 | Filing |
| Q2 FY26ended 30 Sep 2025 / Consolidated, audited | Rs 5,792 cr | Rs 1.76 | n/a | 68/100 | Filing |
| Q1 FY26ended 30 Jun 2025 / Consolidated, audited | Rs 4,440 cr | Rs 1.33 | n/a | 58/100 | Filing |
| Q4 FY25ended 31 Mar 2025 / Consolidated, audited | Rs 9,150 cr | Rs 2.91 | n/a | 58/100 | Filing |
| Q3 FY25ended 31 Dec 2024 / Consolidated, audited | Rs 5,771 cr | Rs 1.79 | n/a | n/a | Filing |
| Q2 FY25ended 30 Sep 2024 / Consolidated, audited | Rs 4,605 cr | Rs 1.50 | n/a | n/a | Filing |
| Q1 FY25ended 30 Jun 2024 / Consolidated, audited | Rs 4,244 cr | Rs 1.08 | n/a | n/a | Filing |
| Q4 FY24ended 31 Mar 2024 / Consolidated, audited | Rs 8,564 cr | Rs 2.46 | n/a | n/a | Filing |
| Q3 FY24ended 31 Dec 2023 / Consolidated, audited | Rs 4,162 cr | Rs 1.17 | n/a | n/a | Filing |
| Q2 FY24ended 30 Sep 2023 / Consolidated, audited | Rs 4,009 cr | Rs 1.08 | n/a | n/a | Filing |
| Q1 FY24ended 30 Jun 2023 / Consolidated, audited | Rs 3,533 cr | Rs 0.74 | n/a | n/a | Filing |
| Q4 FY23ended 31 Mar 2023 / Consolidated, audited | Rs 6,479 cr | Rs 1.90 | n/a | n/a | Filing |
| Q3 FY23ended 31 Dec 2022 / Consolidated, audited | Rs 4,153 cr | Rs 0.83 | n/a | n/a | Filing |
| Q2 FY23ended 30 Sep 2022 / Consolidated, audited | Rs 3,962 cr | Rs 0.86 | n/a | n/a | Filing |
| Q1 FY23ended 30 Jun 2022 / Consolidated, audited | Rs 3,141 cr | Rs 3.00 | n/a | n/a | Filing |
| Q4 FY22ended 31 Mar 2022 / Consolidated, audited | Rs 6,340 cr | Rs 4.74 | n/a | n/a | Filing |
| Q3 FY22ended 31 Dec 2021 / Standalone, audited | Rs 3,694 cr | Rs 2.39 | n/a | n/a | Filing |
| Q2 FY22ended 30 Sep 2021 / Consolidated, audited | Rs 3,678 cr | Rs 2.56 | n/a | n/a | Filing |
| Q1 FY22ended 30 Jun 2021 / Consolidated, audited | Rs 1,649 cr | Rs 0.10 | n/a | n/a | Filing |
| Q4 FY21ended 31 Mar 2021 / Consolidated, audited | Rs 6,917 cr | Rs 5.62 | n/a | n/a | Filing |
| Q3 FY21ended 31 Dec 2020 / Consolidated, audited | Rs 2,320 cr | Rs 1.14 | n/a | n/a | Filing |
| Q2 FY21ended 30 Sep 2020 / Consolidated, audited | Rs 3,195 cr | Rs 1.64 | n/a | n/a | Filing |
| Q1 FY21ended 30 Jun 2020 / Consolidated, audited | Rs 1,676 cr | Rs 0.22 | n/a | n/a | Filing |
| Q4 FY20ended 31 Mar 2020 / Consolidated, audited | Rs 5,817 cr | Rs 4.30 | n/a | n/a | Filing |
| Q3 FY20ended 31 Dec 2019 / Consolidated, audited | Rs 2,278 cr | Rs 0.91 | n/a | n/a | Filing |
| Q2 FY20ended 30 Sep 2019 / Consolidated, audited | Rs 2,748 cr | Rs 1.42 | n/a | n/a | Filing |
| Q1 FY20ended 30 Jun 2019 / Consolidated, audited | Rs 2,125 cr | Rs 0.86 | n/a | n/a | Filing |
| Q4 FY19ended 31 Mar 2019 / Standalone, audited | Rs 3,885 cr | Rs 2.74 | n/a | n/a | Filing |
| Q3 FY19ended 31 Dec 2018 / Standalone, audited | Rs 2,716 cr | Rs 2.09 | n/a | n/a | Filing |
| Q2 FY19ended 30 Sep 2018 / Standalone, audited | Rs 3,381 cr | Rs 2.34 | n/a | n/a | Filing |
| Q1 FY19ended 30 Jun 2018 / Standalone, audited | Rs 2,102 cr | Rs 0.74 | n/a | n/a | Filing |
The official financialsFiled to 31 Mar 2026
Bharat Electronics Ltd's statements as filed: trailing twelve month P&L, the balance sheet, and the cash engine. Parsed from official XBRL, shown in crore.
Trailing twelve months, on filed quarters
Revenue (TTM)
27,610 crNet profit (TTM)
6,062 crEBIT (TTM)
8,060 crProfit before tax (TTM)
8,053 crNet margin (TTM)
22.0%Finance costs (TTM)
6.7 crBalance sheet, as filed 2026-03-31
Total assets
44,538 crShareholder equity
24,007 crTotal borrowings
0.0 crCash and equivalents
1,888 crInventory
10,176 crTrade receivables
12,876 crThe cash engine, latest filed year
Operating cash flow
1,541 crCapex
985 crFree cash flow
556 crInvesting flow
1,730 crFinancing flow
-2,097 crAnnual trail, filed year over filed year
| Year | Revenue | Net profit | Equity | Borrowings | CFO |
|---|---|---|---|---|---|
| FY26 | 27,610 cr | 6,062 cr | 24,007 cr | 0.0 cr | 1,541 cr |
| FY25 | 23,769 cr | 5,323 cr | 19,993 cr | 0.0 cr | 587 cr |
| FY24 | 20,268 cr | 3,985 cr | 16,344 cr | 0.0 cr | 4,659 cr |
| FY23 | 17,734 cr | 2,986 cr | 13,879 cr | 0.0 cr | 1,267 cr |
| FY22 | 15,368 cr | 2,400 cr | 12,302 cr | 0.0 cr | 4,207 cr |
| FY21 | 14,109 cr | 2,100 cr | 11,075 cr | 0.0 cr | n/a |
Every figure is parsed from Bharat Electronics Ltd's official NSE XBRL filings by the BazaarBaazi earnings lab and shown in crore rupees. Display data, not a valuation model input.
Management on record16 earnings calls
Every BEL earnings call BazaarBaazi has indexed, latest 31 May 2026. Read management in its own words, straight from the filed transcript.
Bharat Electronics Ltd earnings calls on record
16 calls since 31 Jul 2022
Show 8 older calls
Each entry links to the transcript PDF the company filed with the exchange. Primary sources, in management's own words.
What changed45 disclosures
Every recent official filing from Bharat Electronics Ltd, straight from the exchange feed, with the BazaarBaazi Event Heat on the disclosure flow.
Bharat Electronics Limited has filed 45 official disclosures recently. The most recent is a Disclosure dated 31 Jul 2026.
Bharat Electronics Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026 and approval for increase in Authorised Share Capital.
Board Meeting to be held on 27-Jul-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Quarterly ended June 2026
To consider and approve the financial results for the period ended Jun 30, 2026
Event Heat is withheld because the reproducible what-changed window is unavailable. Every line above links to its official exchange filing, and the full market desk is at the disclosures hub.
Key fundamentalsEditorial reference
The anchor data BazaarBaazi references when reading the BEL chart. Not a substitute for a registered research note.
| Ticker | BEL |
|---|---|
| Full name | Bharat Electronics Ltd |
| Sector | Defence PSU |
| Index class | PSU |
| ISIN | INE263A01024 |
| Market-cap band | ₹2.30 lakh cr |
| Last referenced level | Inside latest show |
| Last session move | -4.46% |
| Editorial line in | Closing Bell Flash on 28 Jul 2026 |
| Aliases tracked | BEL |
Reference chartLevels in show
The daily frame the desk reads on BEL.
FAQ16 reader questions · AEO-eligible
The line on BEL, distilled and schema-marked for AI Overview, Perplexity, and reader search.
What is the BEL share price target for 2026?
BazaarBaazi does not publish a SEBI-registered price target on BEL. The desk reads structural support and resistance inside each show against the printed spot; the most recent editorial line is Closing Bell Flash on 28 Jul 2026.
What is BazaarBaazi's Crack Score for BEL?
The BazaarBaazi Crack Score for BEL is 58 out of 100 as of 28 Jul 2026, a constructive reading. It is a computed conviction number from the signed stance, how consistent the recent verdicts have been, the quality of the printed structure, and how fresh the review is. It is a transparency signal, not investment advice.
What is the F&O view on BEL?
Legacy record dated 12 Aug 2026; provider observation time unavailable, so BazaarBaazi retains BEL's dated near-money option-inventory band but withholds the specific open-interest counts, PCR and max-pain claim until a fully reproducible, provider-timestamped snapshot is recorded. Matched inventory cannot identify who initiated either side, direction, hedging, spreads or profit. This is a carried stale snapshot; the latest refresh did not replace it.
What sector is BEL in and which peers does BazaarBaazi track?
BEL sits in Defence PSU (psu), indicative market cap ₹2.30 lakh cr, ISIN INE263A01024. The peers BazaarBaazi reads alongside it are Hindustan Aeronautics Ltd. Radar, fire-control, and electronic-warfare order flow. The execution proxy for the entire defence-electronics rotation.
How often is the BEL view updated?
This page is one evergreen URL refreshed in place. The Crack Score and levels re-compute on every BazaarBaazi end-of-day run, and the dated stamp shows the last refresh. The latest signed verdict on BEL is neutral, published in Closing Bell Flash on 28 Jul 2026.
Is BEL a good long-term stock?
What drives this name is order inflow plus the long upgrade-and-service tail on every system it fields, all riding the indigenisation budget, and the risk the Crack Score cannot fully capture is private-sector competition slowly chipping at its single-source status and therefore its margins. The Crack Score on this page reflects the current view on order inflow pace, margin health and competition risk.
What is the BEL share price target for 2030?
The 2030 case is tied to the defence-electronics capital budget and the pace of platform modernisation, neither of which is fixed enough to anchor a price target, especially as private competition reshapes BEL's share of that budget. BazaarBaazi publishes a Crack Score rather than a number; the order book execution ratio is the most telling live signal.
Why is BEL share price falling?
The triggers worth weighing are a slowdown in new order announcements or signs of margin compression as private rivals bid in, while defence-budget scare headlines or a broad PSU de-rating are usually the noisier kind. Margin pressure is the one to watch, because it is the early tell that the single-source moat is loosening.
Is BEL a qualifying setup on the BazaarBaazi scanner right now?
On the 2026-07-31 run of the 500-name BazaarBaazi setup scanner, Bharat Electronics Ltd sits in the Scanned tier with a setup score of 74/100 (technical 100, fundamental 40). The scanner is a deterministic engine over real OHLCV and official filings, refreshed nightly, and it is a signal rather than investment advice.
Where can I read Bharat Electronics Ltd's earnings call transcripts?
BazaarBaazi indexes 16 BEL earnings calls going back to 2022-07-31, latest 2026-05-31. Every entry on this page links straight to the transcript PDF the company filed with the exchange, so you read management in the primary source.
What was Bharat Electronics Limited's Q4 FY26 net profit?
Bharat Electronics Limited reported a net profit of Rs 2,226 cr for Q4 FY26 (the quarter ended 31 March 2026). That is +4.7% year on year. The figure is from the company's official NSE filing.
What was Bharat Electronics Limited's Q4 FY26 revenue?
Bharat Electronics Limited reported revenue of Rs 10,224 cr for Q4 FY26. That is +11.8% year on year. The figure is from the company's official NSE filing.
How does BazaarBaazi rate Bharat Electronics Limited's Q4 FY26 result?
BazaarBaazi gives Bharat Electronics Limited's Q4 FY26 result a Result Pulse of 80 out of 100, with a verdict of Margin expansion. The Result Pulse is a BazaarBaazi editorial score for the quality of the filed result, not investment advice.
What has Bharat Electronics Ltd announced recently?
Bharat Electronics Ltd's two most material recent disclosures are a disclosure dated 31 Jul 2026, "Bagging/Receiving of orders/contracts", and an investor meet dated 28 Jul 2026, "Transcript". Both link to the company's own official filing on the BazaarBaazi stock page.
Has Bharat Electronics Ltd declared a dividend recently?
Yes. Bharat Electronics Ltd filed a dividend disclosure on 19 May 2026, filed as "Board of Directors at its meeting held on May 19, 2026, recommended…". Any amount shown is the exchange's own record, linked from the BazaarBaazi stock page. A dividend is a declared payout, not a forecast of future returns.
What did Bharat Electronics Ltd's latest board meeting cover?
Bharat Electronics Ltd's most recent board-meeting disclosure on record dated 27 Jul 2026 reads "Board Meeting to be held on 27-Jul-2026 to inter-alia consider and…". That is the agenda as filed with the exchange, linked from the BazaarBaazi stock page, and BazaarBaazi adds no claim of its own to it.
Related stock views
The names BazaarBaazi reads alongside BEL, each a living view refreshed every end-of-day run.