Bharat Dynamics Limited

BSE: BDL541143ISIN INE171Z01026

Industrials
Aerospace & Defense
BSE 500

Share price

₹1,077.00+61.00 (+6.00%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹1,633.15
52W low: ₹974.20
Off 52W high: -34.05%
1M return: -1.37%
3M return: -13.29%
6M return: -23.09%
1Y return: -27.34%
20D avg volume: 67,764
50 DMA: ₹1,144.92
200 DMA: ₹1,275.13

Key ratios Standalone

Market cap: ₹39,479 Cr
Current price: ₹1,077.00
52W high / low: ₹1,633.15 / ₹974.20
Face value: ₹5.00
P/E: 70.10
P/B: 9.78
EPS (TTM): ₹14.21
Book value / share: ₹110.12
ROE: 13.95%
ROCE: 7.20%
Operating margin: 32.59%
Net margin: 20.76%
Debt / equity: 0.00
Net debt: ₹-863.31 Cr
Interest cover: 168.50
Dividend yield: 0.46%
Dividend / share (TTM): ₹4.90
Payout: 34.48%
Cash conversion cycle: 330.9 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	572.24	480.20	566.63	1,147	247.93	1,777	832.14	544.77	191.17	854.12	601.62	615.81
	103.44	119.17	97.17	120.57	86.86	99.57	84.42	86.03	80.38	88.49	87.60	78.30
	675.68	599.37	663.80	1,268	334.79	1,877	916.56	630.80	271.55	942.61	689.22	694.11
	510.05	445.48	560.62	979.98	311.66	1,498	723.67	464.33	260.32	554.74	500.12	499.99
	187.90	543.51	463.84	781.66	206.53	1,390	324.70	210.03	175.11	626.70	136.31	179.54
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	136.37	103.51	137.70	162.39	131.97	137.89	121.90	141.92	147.09	153.72	181.76	129.19
	0.64	0.67	0.67	1.35	0.70	0.71	0.71	0.73	1.16	0.77	0.77	0.78
	20.25	19.85	19.30	19.12	17.66	19.65	17.70	17.67	15.67	16.25	16.47	17.43
	75.39	140.88	71.45	145.93	102.10	287.95	—	—	64.15	99.33	—	—
	165.63	153.89	103.18	287.61	23.13	378.18	192.88	166.47	11.23	387.87	189.10	194.12
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	165.63	153.89	103.18	287.62	23.13	378.18	192.88	166.47	11.23	387.87	189.10	194.12
	46.84	40.71	30.26	71.73	4.78	160.48	45.76	43.94	4.02	99.10	54.07	47.02
	118.79	113.18	72.92	215.88	18.35	272.77	147.12	122.53	7.22	288.78	135.03	147.09
	3.24	3.09	1.99	5.89	0.50	7.44	4.01	3.34	0.20	7.88	7.37	8.03
Key metrics
	186.52	174.41	123.15	308.09	41.49	398.54	211.29	184.87	28.06	404.89	206.34	212.33
	32.60%	36.30%	21.70%	26.90%	16.70%	22.40%	25.40%	33.90%	14.70%	47.40%	34.30%	34.50%
	20.80%	23.60%	12.90%	18.80%	7.40%	15.40%	17.70%	22.50%	3.80%	33.80%	22.40%	23.90%
	—	2.00%	—	3.60%	—	5.10%	—	—	—	—	—	—
	130.80%	-73.00%	-31.90%	110.60%	29.70%	108.00%	38.30%	-11.50%	—	—	—	—
	547.40%	-58.50%	-50.40%	76.20%	154.20%	-5.50%	9.00%	-16.70%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Income statement
	2,766	2,442	3,345	2,369	2,489	2,817	1,914	3,095	3,069	4,588
	440.35	423.77	350.40	361.83	155.40	111.21	94.61	115.98	135.99	172.56
	3,206	2,866	3,695	2,731	2,645	2,929	2,008	3,211	3,205	4,760
	2,496	2,298	2,947	1,903	2,163	2,185	1,667	2,469	2,534	3,986
	1,977	1,996	2,100	1,120	1,210	1,263	970.08	1,036	1,819	2,908
	0.00	0.00	0.00	—	—	—	—	—	—	—
	539.97	535.57	548.80	600.01	532.46	570.66	501.09	534.03	534.21	529.34
	3.33	3.39	3.31	3.11	4.54	3.42	3.91	4.66	4.23	3.28
	78.52	75.93	70.70	67.04	77.26	90.35	94.54	96.44	82.50	63.48
	433.65	460.36	645.99	335.39	—	341.66	226.78	293.87	259.93	536.34
	710.31	567.82	748.76	828.24	481.80	743.50	340.88	742.45	671.37	773.82
	0.00	0.00	0.00	—	—	-33.59	—	—	—	—
	710.32	567.82	748.76	828.24	481.80	709.91	340.88	742.45	671.37	773.82
	189.54	147.48	199.12	215.51	129.63	209.99	83.12	207.55	248.78	245.67
	520.77	420.34	549.65	612.72	352.18	499.92	257.76	534.90	422.59	528.15
	14.21	11.47	14.99	16.72	19.22	27.28	14.06	29.18	23.06	—
Key metrics
	792.17	647.14	822.77	898.39	563.60	803.68	439.33	843.55	758.10	840.58
	28.64%	26.50%	24.60%	37.90%	22.60%	28.50%	23.00%	27.30%	24.70%	18.30%
	18.83%	17.20%	16.40%	25.90%	14.10%	17.70%	13.50%	17.30%	13.80%	11.50%
	—	7.20%	10.20%	—	—	—	—	—	—	—
	-18.69%	-27.00%	41.20%	-4.80%	-11.60%	47.20%	-38.20%	0.80%	-33.10%	—
	-7.13%	-23.50%	-10.30%	74.00%	-29.60%	93.90%	-51.80%	26.60%	-20.00%	—
	—	386.68	59.35	—	—	—	—	—	—	—
	—	1.44	0.30	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—
	—	-863.31	-133.86	—	—	—	—	—	—	—
	—	330.9	214.5	—	—	—	—	—	—	—
Balance sheet
	—	14,262	11,742	—	—	—	—	—	—	—
	—	12,757	10,378	—	—	—	—	—	—	—
	—	863.31	133.86	—	—	—	—	—	—	—
	—	422.88	826.36	—	—	—	—	—	—	—
	—	4,626	2,645	—	—	—	—	—	—	—
	—	2,416	1,747	—	—	—	—	—	—	—
	—	700.49	667.37	—	—	—	—	—	—	—
	—	2,835	1,506	—	—	—	—	—	—	—
	—	6,346	4,360	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—
	—	4,241	4,009	—	—	—	—	—	—	—
Cash flow
	—	604.00	167.39	—	—	—	—	—	—	—
	—	319.61	-407.13	—	—	—	—	—	—	—
	—	-194.16	-220.25	—	—	—	—	—	—	—
	—	217.32	108.04	—	—	—	—	—	—	—

Compounded growth

Sales CAGR 3Y: -0.64%
Sales CAGR 5Y: +4.99%
Profit CAGR 3Y: +6.07%
Profit CAGR 5Y: +10.28%
Sales YoY (TTM): -18.69%
Profit YoY (TTM): -7.13%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 74.93%

Holder	Type	Holding	Previous	Change
PRESIDENT OF INDIA	Promoter	74.93%	—	—
LIFE INSURANCE CORPORATION OF INDIA	Public	1.58%	—	—
HDFC MUTUAL FUND - HDFC DEFENCE FUND	Public	1.57%	—	—
NPS TRUST- A/C SBI PENSION FUND SCHEME - STATE GOVT	Public	1.51%	—	—
MOTILAL OSWAL LARGE AND MIDCAP FUND	Public	1.41%	—	—
QIB	Public	0.01%	—	—

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Hindustan Aeronautics Limited	3,39,403	5,075.00	36.41	13.70%	+7.42% TTM	+12.16% TTM	+8.35%
Bharat Electronics Ltd.	2,90,271	397.10	43.46	31.90%	+20.28% TTM	+12.40% TTM	-4.34%
Bharat Dynamics Limited S	39,479	1,077.00	70.10	7.20%	-18.69% TTM	-7.13% TTM	-27.34%
Garden Reach Shipbuilders & Engineers Limited S	24,610	2,148.40	30.74	36.80%	+39.64% TTM	+42.86% TTM	-15.96%
Data Patterns (India) Limited S	22,853	4,082.00	85.29	21.00%	+33.81% TTM	+24.90% TTM	+51.15%
SIGMA ADVANCED SYSTEMS LIMITED S	17,815	940.15	254.78	46.60%	+32.27% TTM	-51.48% TTM	+325.02%
Apollo Micro Systems Limited	16,157	434.80	123.30	13.50%	+77.12% TTM	+63.98% TTM	+56.46%
Zen Technologies Ltd.	15,581	1,725.70	65.83	15.60%	+4.17% TTM	-12.80% TTM	+22.66%
Astra Microwave Products Ltd.	14,988	1,578.60	79.28	21.00%	+4.02% TTM	+16.28% TTM	+48.95%
Aequs Limited	14,741	219.80	-72.97	1.10%	—	—	—
Paras Defence and Space Technologies Limited	10,201	1,265.85	95.31	16.30%	+41.68% TTM	+56.45% TTM	+82.52%
Unimech Aerospace and Manufacturing Limited	9,014	1,770.80	102.28	12.30%	+40.00% TTM	+10.76% TTM	+77.46%
AXISCADES TECHNOLOGIES LIMITED	8,126	1,910.60	222.97	15.70%	+4.61% TTM	-54.09% TTM	+23.11%
TONBO IMAGING INDIA LIMITED	7,321	1,278.05	—	—	—	—	—
Mishra Dhatu Nigam Limited	7,292	389.25	54.03	8.80%	+18.17% TTM	+13.89% TTM	+2.38%
Centum Electronics Ltd	6,282	4,255.65	126.60	20.70%	-2.14% TTM	+525.07% TTM	+72.77%
Cyient DLM Limited	5,981	753.40	71.22	10.50%	-1.51% TTM	+2.85% TTM	+65.78%
Rossell Techsys Limited	5,487	1,455.70	213.25	32.70%	+82.66% TTM	+68.79% TTM	+132.87%
Avantel Limited	3,686	138.70	186.92	8.60%	+14.57% TTM	-41.41% TTM	-17.29%
IDEAFORGE TECHNOLOGY LIMITED	3,555	715.00	118.44	-2.60%	+263.51% TTM	+132.30% TTM	+50.34%
Jaykay Enterprises Limited	2,757	211.60	15.97	30.00%	+117.55% TTM	+818.57% TTM	—
CFF FLUID CONTROL LIMITED S	2,062	983.00	—	19.80%	—	—	+41.69%
Sika Interplant Systems Ltd.	1,902	897.00	54.88	30.60%	+0.45% TTM	+9.69% TTM	-23.60%
NIBE LIMITED	1,821	1,174.40	-140.29	4.60%	-5.17% TTM	-163.01% TTM	-1.09%
MILLWORKS TECHNOLOGIES LIMITED	1,732	983.30	—	—	—	—	—

Some figures use IPO-document inputs. Growth periods are shown per value; FY means annual.

Filings & corporate actions

Recent announcements

Bharat Dynamics Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 12/11/2026 ,inter alia, to consider and approve unaudited financial results ....4 Nov 2026 · Board Meeting / Board Meeting
The Meeting of Board of Directors of the company is Scheduled on 12/11/2026,inter alia, to consider and approve the unaudited financial results4 Nov 2026 · Others / Reg. 50 (1) - Prior intimation about Board meeting under Regulation 50(1))
Receipt of DIN of Dr. Jagannath Nayak.16 Oct 2026 · Company Update / Change in Management
Receipt of Order for Heavyweight Torpedoes15 Oct 2026 · Company Update / Award of Order / Receipt of Order
Certificate Under Regulation 74(5) of SEBI (DP) Regulation 2018 for the quarter ended September 2026.12 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Appointment of Dr. Jagannath Nayak DG(MSS) as a Government nominee director.7 Oct 2026 · Company Update / Change in Directorate
56th AGM Scrutinizer report30 Sep 2026 · AGM/EGM / AGM
Trading Window Closure for the quarter ended 30th September 2026 With effect from 1st October 2026.29 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Proceeding of 56th AGM28 Sep 2026 · AGM/EGM / AGM
Receipt of order for SAT- SAAW by IAF23 Sep 2026 · Company Update / Award of Order / Receipt of Order
Appointment of Shri Prakash Rajpurohit as Government Nominee Director w.e.f 17.09.202618 Sep 2026 · Company Update / Change in Management
Appointment of the Statutory Auditor for the FY 2026-27.8 Sep 2026 · Company Update / Appointment of Statutory Auditor/s
Newspaper Advertisement for AGM 2025-264 Sep 2026 · Company Update / Newspaper Publication
BRSR for the FY 2025-263 Sep 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
Record for Final Dividend 2025-26 is 21 September 2026.3 Sep 2026 · Corp. Action / Record Date
BDL Annual Report 2025-26 and 56th AGM Notice3 Sep 2026 · Others / Reg. 34 (1) Annual Report
Cessation of Shri L Kishan and Smt. Yalamanchili Ushasri With effect from 01-09-2026.1 Sep 2026 · Company Update / Change in Management
Fines imposed by stock exchanges for the quarter ended 30 June 2026.26 Aug 2026 · Company Update / General
Change In Management consequent to the Departmental Promotions 2026.21 Aug 2026 · Company Update / Change in Management
Appointment of Three Part time Non official Directors (Independent Directors) On the board Of BDL18 Aug 2026 · Company Update / Change in Directorate
Unaudited Financial Results for the quarter ended 30 June 202614 Aug 2026 · Board Meeting / Outcome of Board Meeting
Bharat Dynamics Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 14/08/2026 ,inter alia, to consider and approve the unaudited Financial results ....31 Jul 2026 · Board Meeting / Board Meeting
Newspaper Publication relating to IEPF30 Jul 2026 · Company Update / Newspaper Publication
Reg 74(5) of SEBI (DP) regulations,2018 certificate for the quarter ending 30June 20269 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Appointment of Shri Shailesh Vagerwal as CMD w.e.f 09 July 20269 Jul 2026 · Company Update / Change in Directorate
Shri U Raja Babu- DS & DG (MSS) DRDO, Govt Nominee Director cessation w.e.f 01.07.20263 Jul 2026 · Company Update / Change in Directorate
Trading window closure for the quarter ended 30 June 202629 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Receipt of order from M/s Hindustan Aeronautics Limited24 Jun 2026 · Company Update / Award of Order / Receipt of Order
Receipt of CMD appointment letter from MoD19 Jun 2026 · Company Update / General
Investor Presentation June 202610 Jun 2026 · Company Update / Investor Presentation
As per Regulation 30 of SEBI LODR 2015 we inform you that the officials of the company will be attending the meeting with investors/ Analysts/ Fund Managers on 11 June 2026 as mentioned ....8 Jun 2026 · Company Update / Analyst / Investor Meet
Superannuation of Executive Director, Cmde. Girish Raghunath Pradhan (Retd.)1 Jun 2026 · Company Update / Change in Management
Fine for the quarter ended 31 March 202629 May 2026 · Company Update / General
Baord approves final dividend for the FY 2025-2628 May 2026 · Corp. Action / Dividend
Financial results for the quarter and year ended 31.03.202628 May 2026 · Result / Financial Results
Financial results for the quarter and year ended 31 March 2026 and Final Dividend for the FY 2025-2628 May 2026 · Board Meeting / Outcome of Board Meeting
Bharat Dynamics Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 28/05/2026 ,inter alia, to consider and approve Audited Financial Results for ....20 May 2026 · Board Meeting / Board Meeting
Media Release Manufacturing facility at T. Sirasapalli, A.P15 May 2026 · Company Update / Press Release / Media Release
Cessation of Cmde. A Madhavarao (Retd.) CMD and Additional Charge of CMD to Shri D.V Srinivas Rao Director (Technical)30 Apr 2026 · Company Update / Change in Directorate
Media Release- Torpendo Production25 Apr 2026 · Company Update / Press Release / Media Release

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 0.4000	21 Sep 2026	21 Sep 2026	—
Interim Dividend - Rs. - 4.5000	9 Feb 2026	9 Feb 2026	—
Final Dividend - Rs. - 0.6500	19 Sep 2025	19 Sep 2025	—
Interim Dividend - Rs. - 4.0000	14 Feb 2025	14 Feb 2025	—
Final Dividend - Rs. - 0.8500	23 Sep 2024	—	—

Board meetings

14 Aug 2026 Board Meeting - Financial Results