Nifty

:

23719.30

Sensex

:

75415.35

64.60 (0.27%)
231.99 (0.31%)

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Nifty
Sensex

:
:

23719.30
75415.35

64.60 (0.27%)
231.99 (0.31%)

Bharat Dynamics Ltd.

Defence

Rating :

60/99

BSE: 541143 | NSE: BDL

Watchlist

NSE BSE

1312.50

22-May-2026

Open
High
Low
Previous Close

1309.7
1326.4
1298.6
1303.80

Volume
Traded Value (lacs)
52 Week High
52 Week Low

581756
764387479.7
2096.6
1086

Stock Summary

Market Cap(Crs)
Stock P:E
Face Value

48,107.66
82.95
5

Enterprise Value(Crs)
Dividend Yield
Price:Book Value

43,926.02
0.35%
11.25

Chart

Price | P:E | P:BV | EV:EBITDA | MCap:Sales | EPS

Revenue CAGR (%)

10 Years
5 Years
3 Years

-1.23
11.82
10.35

EBITDA CAGR (%)

10 Years
5 Years
3 Years

1.63
6.49
2.95

PAT CAGR (%)

10 Years
5 Years
3 Years

-0.22
16.35
16.00

P:E (Median)

8 Years
5 Years
3 Years

27.40
61.30
79.54

P:BV (Average)

8 Years
5 Years
3 Years

7.21
8.45
11.33

EV:EBITDA (Average)

8 Years
5 Years
3 Years

24.79
35.16
48.91

Earnings Forecasts:

(Updated: 16-05-2026)

Description 2024 2025 2026 2027
Adj EPS 20.28 28.21 37.93 43.24
P/E Ratio 64.72 46.53 34.60 30.35
Revenue 4141.23 5526.92 7223.05 9280.3
EBITDA 669.18 986.24 1382.25 2289
Net Income 737.48 1020.11 1385.88 1585.05
ROA 5.35 6.42 7.03
P/B Ratio 10.69 9.14 7.55 6.67
ROE 16.62 19.81 22.33 22.67
FCFF 596.33 773.95 892.84 1447.52
FCFF Yield 1.31 1.69 1.95 3.17
Net Debt -4625.33 -5363 -5836.45 -4547.7
BVPS 122.76 143.54 173.88 196.86

Quarterly Results

Standalone Figures in Rs. Crores /

Consolidated

Description Dec 25 Dec 24 Var% Sep 25 Sep 24 Var% Jun 25 Jun 24 Var% Mar 25 Mar 24 Var%
Net Sales 566.63 832.14 -31.91% 1,147.03 544.77 110.55% 247.93 191.17 29.69% 1,776.98 854.12 108.05%
Expenses 540.64 705.26 -23.34% 959.52 445.93 115.17% 293.30 243.49 20.46% 1,478.00 537.72 174.86%
EBITDA 25.99 126.87 -79.51% 187.51 98.84 89.71% -45.37 -52.32 - 298.97 316.40 -5.51%
EBIDTM 4.59% 15.25% 16.35% 18.14% -18.30% -27.37% 16.82% 37.04%
Other Income 97.17 84.42 15.10% 120.57 86.03 40.15% 86.86 80.38 8.06% 99.57 88.49 12.52%
Interest 0.67 0.71 -5.63% 1.35 0.73 84.93% 0.70 1.16 -39.66% 0.71 0.77 -7.79%
Depreciation 19.30 17.70 9.04% 19.12 17.67 8.21% 17.66 15.67 12.70% 19.65 16.25 20.92%
PBT 103.18 192.88 -46.51% 287.61 166.47 72.77% 23.13 11.23 105.97% 378.17 387.87 -2.50%
Tax 30.26 45.76 -33.87% 71.73 43.94 63.25% 4.78 4.02 18.91% 105.40 99.10 6.36%
PAT 72.92 147.13 -50.44% 215.88 122.53 76.19% 18.35 7.22 154.16% 272.77 288.78 -5.54%
PATM 12.87% 17.68% 18.82% 22.49% 7.40% 3.77% 15.35% 33.81%
EPS 1.99 4.01 -50.37% 5.89 3.34 76.35% 0.50 0.20 150.00% 7.44 7.88 -5.58%

Description Dec 25 Dec 24 Var% Sep 25 Sep 24 Var% Jun 25 Jun 24 Var% Mar 25 Mar 24 Var%
Net Sales 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0
Expenses 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0
EBITDA 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0
EBIDTM 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Other Income 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0
Interest 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0
Depreciation 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0
PBT 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0
Tax 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0
PAT 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0
PATM 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EPS 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0

Annual Results

Standalone Figures in Rs. Crores

Right to Left

Description TTM Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Net Sales 3,738.57 3,345.05 2,369.28 2,489.39 2,817.40 1,913.76 3,104.87 3,069.35 4,576.71 4,535.33 3,786.22 Net Sales Growth 54.35% 41.18% -4.82% -11.64% 47.22% -38.36% 1.16% -32.94% 0.91% 19.79% Cost Of Goods Sold 2,094.10 1,636.15 885.78 1,187.05 1,175.26 834.28 1,486.76 1,591.09 2,684.46 2,994.86 2,485.29 Gross Profit 1,644.47 1,708.91 1,483.50 1,302.34 1,642.14 1,079.47 1,618.10 1,478.26 1,892.25 1,540.47 1,300.93 GP Margin 43.99% 51.09% 62.61% 52.32% 58.29% 56.41% 52.11% 48.16% 41.35% 33.97% 34.36% Total Expenditure 3,271.46 2,871.85 1,832.29 2,080.18 2,090.01 1,568.24 2,348.57 2,449.03 4,087.78 4,118.39 3,383.83 Power & Fuel Cost - 29.56 28.59 25.15 26.08 23.54 27.81 26.83 28.59 24.89 30.59 % Of Sales - 0.88% 1.21% 1.01% 0.93% 1.23% 0.90% 0.87% 0.62% 0.55% 0.81% Employee Cost - 548.80 600.01 532.46 570.66 501.09 534.03 534.21 529.34 448.39 326.23 % Of Sales - 16.41% 25.32% 21.39% 20.25% 26.18% 17.20% 17.40% 11.57% 9.89% 8.62% Manufacturing Exp. - 119.86 96.65 77.41 76.33 75.52 119.27 137.46 193.64 30.50 27.71 % Of Sales - 3.58% 4.08% 3.11% 2.71% 3.95% 3.84% 4.48% 4.23% 0.67% 0.73% General & Admin Exp. - 96.70 88.78 87.54 78.72 66.85 74.44 78.24 65.16 68.69 48.81 % Of Sales - 2.89% 3.75% 3.52% 2.79% 3.49% 2.40% 2.55% 1.42% 1.51% 1.29% Selling & Distn. Exp. - 129.13 28.35 25.88 17.80 17.97 20.76 24.88 16.53 9.45 16.17 % Of Sales - 3.86% 1.20% 1.04% 0.63% 0.94% 0.67% 0.81% 0.36% 0.21% 0.43% Miscellaneous Exp. - 311.65 104.13 144.69 145.16 48.99 85.50 56.33 570.06 541.61 16.17 % Of Sales - 9.32% 4.40% 5.81% 5.15% 2.56% 2.75% 1.84% 12.46% 11.94% 11.86% EBITDA 467.10 473.20 536.99 409.21 727.39 345.52 756.30 620.32 488.93 416.94 402.39 EBITDA Margin 12.49% 14.15% 22.66% 16.44% 25.82% 18.05% 24.36% 20.21% 10.68% 9.19% 10.63% Other Income 404.17 350.42 361.89 155.40 111.21 94.61 88.05 138.70 352.57 452.38 497.49 Interest 3.43 4.16 3.60 5.55 4.75 4.71 5.46 5.15 4.20 4.49 5.38 Depreciation 75.73 70.70 67.04 77.26 90.35 94.54 96.44 82.50 63.48 62.02 53.22 PBT 792.09 748.76 828.24 481.80 743.50 340.88 742.45 671.36 773.82 802.81 841.27 Tax 212.17 199.12 215.51 129.63 209.99 83.12 207.55 248.78 245.67 278.76 279.20 Tax Rate 26.79% 26.59% 26.02% 26.91% 29.58% 24.38% 27.95% 37.06% 31.75% 34.72% 33.19% PAT 579.92 549.65 612.72 352.17 499.92 257.77 534.90 422.59 528.15 524.06 562.07 PAT before Minority Interest 579.92 549.65 612.72 352.17 499.92 257.77 534.90 422.59 528.15 524.06 562.07 Minority Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 PAT Margin 15.51% 16.43% 25.86% 14.15% 17.74% 13.47% 17.23% 13.77% 11.54% 11.56% 14.85% PAT Growth 2.52% -10.29% 73.98% -29.55% 93.94% -51.81% 26.58% -19.99% 0.78% -6.76% EPS 15.82 14.99 16.71 9.61 13.64 7.03 14.59 11.53 14.41 14.30 15.33

Results Balance Sheet

Standalone Figures in Rs. Crores

Right to Left

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Shareholder's Funds 4,008.95 3,636.82 3,211.50 3,030.56 2,684.75 2,606.83 2,268.55 1,956.38 2,194.98 1,851.24 Share Capital 183.28 183.28 183.28 183.28 183.28 183.28 183.28 183.28 122.19 97.75 Total Reserves 3,825.67 3,453.54 3,028.22 2,847.28 2,501.47 2,423.55 2,085.26 1,773.10 2,072.79 1,753.49 Non-Current Liabilities 3,250.63 3,626.74 3,198.55 895.16 708.31 709.52 208.98 217.44 357.18 1,194.97 Secured Loans 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Unsecured Loans 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Long Term Provisions 0.43 0.40 0.37 44.66 29.07 0.29 0.00 0.00 17.87 1.14 Current Liabilities 4,360.17 3,005.76 2,205.97 2,581.06 2,520.97 2,314.66 2,919.12 4,231.99 5,686.50 6,517.60 Trade Payables 1,505.56 798.39 464.38 552.47 742.60 345.49 519.46 1,011.51 1,529.36 1,343.11 Other Current Liabilities 2,345.61 1,807.45 1,389.87 1,719.28 1,548.39 1,640.76 2,039.12 2,554.28 3,649.00 4,802.86 Short Term Borrowings 0.00 0.00 0.00 0.00 0.00 2.17 1.82 0.00 0.00 0.00 Short Term Provisions 509.00 399.92 351.72 309.31 229.98 326.25 358.73 666.20 508.13 371.63 Total Liabilities 11,619.75 10,269.32 8,616.02 6,506.78 5,914.03 5,631.01 5,396.65 6,405.81 8,238.66 9,563.81 Net Block 857.08 823.61 808.53 873.84 914.98 932.36 956.96 868.37 757.12 696.76 Gross Block 1,600.56 1,496.52 1,415.67 1,451.08 1,368.51 1,291.36 1,219.61 1,048.62 869.66 818.71 Accumulated Depreciation 743.48 672.91 607.15 577.24 453.53 359.00 262.65 180.25 112.54 121.95 Non Current Assets 1,226.54 1,013.63 997.80 964.08 994.17 1,034.71 1,063.51 1,063.12 956.00 891.15 Capital Work in Progress 230.32 72.87 74.35 40.73 21.50 42.06 47.03 129.84 135.88 126.21 Non Current Investment 3.91 0.00 0.00 0.00 4.52 3.90 3.72 3.69 2.95 2.95 Long Term Loans & Adv. 29.51 8.85 8.88 8.64 9.12 9.61 9.60 10.89 9.83 10.43 Other Non Current Assets 105.71 108.29 106.03 40.86 44.04 46.77 46.20 50.31 50.20 54.80 Current Assets 10,377.92 9,239.01 7,600.14 5,523.24 4,899.00 4,574.06 4,309.50 5,317.67 7,256.25 8,644.85 Current Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 235.30 0.00 0.00 Inventories 2,645.11 1,982.47 1,822.44 1,654.45 1,397.01 856.52 1,664.53 1,925.87 2,240.42 2,057.66 Sundry Debtors 826.36 310.45 184.57 304.16 322.69 338.37 525.93 770.41 154.55 144.86 Cash & Bank 4,190.37 4,228.48 3,858.86 1,899.53 1,560.95 663.49 371.32 356.79 1,738.01 3,242.49 Other Current Assets 2,716.09 231.68 68.43 105.19 1,618.34 2,715.68 1,747.73 2,029.32 3,123.27 3,199.85 Short Term Loans & Adv. 2,503.18 2,485.93 1,665.84 1,559.90 1,551.75 2,626.74 1,668.87 1,949.19 2,974.05 1,709.47 Net Current Assets 6,017.75 6,233.25 5,394.18 2,942.18 2,378.03 2,259.40 1,390.38 1,085.68 1,569.75 2,127.26 Total Assets 11,619.75 10,269.32 8,616.01 6,506.78 5,914.02 5,631.01 5,396.64 6,405.81 8,238.66 9,563.80

Cash Flow

Standalone Figures in Rs. Crores

Right to Left

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Cash From Operating Activity 167.39 411.72 2,130.25 529.66 1,068.01 504.22 83.52 -341.50 -419.89 284.28 PBT 748.76 828.24 481.80 743.50 340.88 742.45 671.36 773.82 802.81 841.27 Adjustment -8.09 -233.14 -24.96 87.87 29.34 45.06 -7.54 30.40 -63.85 -217.88 Changes in Working Capital -370.14 -27.41 1,891.53 -98.28 775.61 -109.64 -285.47 -891.68 -823.95 -61.03 Cash after chg. in Working capital 370.53 567.69 2,348.37 733.08 1,145.84 677.87 378.35 -87.46 -84.99 562.37 Interest Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Tax Paid -203.14 -155.97 -218.12 -203.42 -77.82 -173.64 -294.83 -254.04 -334.90 -278.09 Other Direct Exp. Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Extra & Other Items 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Cash From Investing Activity -407.13 -722.40 -1,171.03 -573.01 -733.78 -33.18 169.78 1,047.02 2.68 148.59 Net Fixed Assets -261.49 -79.37 1.79 -101.80 -56.59 -66.78 -88.18 -172.92 -60.62 -216.34 Net Investments -3.91 0.00 0.00 4.52 -0.62 -0.18 235.27 -236.04 0.00 -0.02 Others -141.73 -643.03 -1,172.82 -475.73 -676.57 33.78 22.69 1,455.98 63.30 364.95 Cash from Financing Activity -220.25 -148.36 -171.38 -148.52 -172.64 -190.87 -268.13 -768.64 -166.17 -324.27 Net Cash Inflow / Outflow -459.99 -459.04 787.84 -191.87 161.59 280.17 -14.83 -63.12 -583.38 108.59 Opening Cash & Equivalents 593.84 1,052.88 265.04 456.92 295.33 15.16 29.99 93.11 676.49 123.92 Closing Cash & Equivalent 133.86 593.84 1,052.88 265.04 456.92 295.33 15.16 29.99 93.11 232.52

Financial Ratios

Standalone /

Consolidated

Right to Left

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Book Value (Rs.) 108.95 98.76 87.12 164.29 145.34 141.02 122.48 105.38 17747.83 18654.08 ROA 5.02% 6.49% 4.66% 8.05% 4.47% 9.70% 7.16% 7.21% 5.89% 6.27% ROE 14.44% 17.99% 11.35% 17.62% 9.82% 22.15% 20.24% 25.76% 26.26% 32.61% ROCE 19.75% 24.39% 15.69% 25.15% 13.15% 30.90% 32.33% 37.89% 40.37% 49.02% Fixed Asset Turnover 2.16 1.63 1.74 2.00 1.44 2.47 2.71 4.78 5.79 5.81 Receivable days 62.02 38.13 35.83 40.61 63.04 50.80 77.08 36.80 11.18 21.46 Inventory Days 252.47 293.08 254.89 197.66 214.90 148.18 213.48 165.74 160.52 158.10 Payable days 256.99 260.17 156.33 201.10 238.02 83.56 99.33 131.67 146.94 114.80 Cash Conversion Cycle 57.51 71.04 134.39 37.16 39.92 115.43 191.23 70.86 24.76 64.76 Total Debt/Equity 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Interest Cover 181.00 230.75 87.79 150.48 73.34 137.04 131.30 185.22 179.62 157.22

Description Mar 19 Mar 18
Book Value (Rs.) 0.00 0.00 ROA 0.00% 0.00% ROE 0.00% 0.00% ROCE 0.00% 0.00% Fixed Asset Turnover 0.00 0.00 Receivable days 0.00 0.00 Inventory Days 0.00 0.00 Payable days 0.00 0.00 Cash Conversion Cycle 0.00 0.00 Total Debt/Equity 0.00 0.00 Interest Cover 0.00 0.00

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Annual Reports:

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Source: www.accordfintech.com | DISCLAIMER: Information is provided " as is" and solely for informational purposes, not for trading purposes or advice, and may be delayed.

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