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Bharat Electronics (500049) investor relations material
Bharat Electronics Q3 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue from operations up to Q3 FY26 reached INR 17,302 crore, a 19% year-over-year increase, with profit before tax at INR 5,171 crore (up 22%) and profit after tax at INR 3,845 crore (up 21%).
Q3 FY 2025-26 revenue grew 23.73% year-over-year to ₹7,121.98 crore, with profit before tax at ₹2,147.68 crore (up 22.43%) and profit after tax at ₹1,590.06 crore (up 20.82%).
Order book as of late January 2026 stands at INR 73,450 crore, with order inflows of INR 19,300 crore so far in FY26.
EBITDA margin improved to 30% up to Q3, compared to 28% last year, and EPS rose to INR 5.26 from INR 4.36.
Financial highlights
Standalone revenue from operations for nine months: ₹17,30,246 lakh; profit before tax: ₹5,17,122 lakh; profit after tax: ₹3,84,532 lakh.
Consolidated revenue from operations for nine months: ₹17,38,568 lakh; consolidated profit after tax: ₹3,83,591 lakh.
Cumulative other expenses for nine months increased, mainly due to higher provisions for doubtful debts (INR 709 crore vs. INR 598 crore last year).
Provision write-backs in the quarter totaled INR 256 crore.
Other income declined 16% year-over-year, primarily due to lower interest income and absence of forex gains.
Cash and bank balance at the end of Q3 FY26 is over INR 7,000 crore.
Outlook and guidance
Management maintains FY26 guidance: revenue growth above 15%, EBITDA margin at 27%, and order inflow exceeding INR 27,000 crore.
Guidance includes partial NGC order inflow (INR 3,000–4,000 crore in FY26, remainder in H1 FY27).
Margin guidance remains at 27% for FY26, despite higher YTD margins, due to expected product mix changes in Q4.
Order pipeline supports 15%+ annual growth for the next 3–4 years, with several large projects expected.
R&D investment target for FY26 is INR 1,700+ crore, with 20%+ annual growth planned.
- TimeTickerHeadlineOpen
- 7 FebCHEMPLASTS
Net losses widened and revenue fell year-over-year amid regulatory and market headwinds. - 7 FebSBIN
Q3 FY26 net profit reached ₹21,028.15 crore, driven by robust income and strategic divestments. - 6 FebHTOO
Resale registration for 71,429 shares via warrant, with proceeds only on exercise; financial risks persist. - 6 FebVSAT
Q3 revenue up 3% to $1.16B, net income $25M, strong cash flow, Ligado boost, satellite focus. - 6 FebWEC
Targets 7–8% EPS growth, $37.5B capex, and coal exit by 2032 amid surging data center demand. - 6 FebBR
Q2 FY26 recurring revenue grew 8% and adjusted EPS guidance was raised to 9-12%. - 6 FebFFWM
Merger vote includes new non-voting stock class with limited conversion and no voting rights. - 6 FebKKR
Charter amendments seek to modernize governance and establish one share, one vote by 2026. - 6 FebARI
Proposed $9B real estate loan portfolio acquisition highlights disciplined, long-term strategy. - 6 FebSMCI
Q2 revenue jumped 123% to $12.7B, with FY26 guidance raised to at least $40B.
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