Bharat Dynamics Q1 results: Net profit more than doubles to ₹18 crore YoY; EBITDA loss at ₹45 crore

The state-run defence firm’s revenue from operations stood at ₹248 crore in Q1 FY26 as against ₹191 crore, clocking a growth of 30%.

On the operational level, Bharat Dynamics posted a net EBITDA loss of ₹45 crore in the reporting quarter in contrast to an EBITDA loss of ₹52 crore in Q1 FY25.

EBITDA stands for earnings before interest, taxes, depreciation and amortisation (EBITDA).

Last month, the company had received an order from Armoured Vehicles Nigam Limited (AVNL) for a value of ₹809 crore (gross) for the supply of one of the ATGMs. It will be executed in a span of three years.

Meanwhile, India’s annual defence production has crossed the ₹1.5 lakh crore mark for the first time, recording a sharp increase over previous years. Defence Minister Rajnath Singh described the achievement as a clear sign of the country’s strengthening defence industrial base.

Ahead of the earnings, shares of Bharat Dynamics settled at ₹1,485 apiece on the National Stock Exchange, falling 1.91%.

Over the last five trading days, shares of the company have lost over 5%. For a month’s period, it has declined 18.5%.

However, since February 12, 2025, which is six months, the stock has zoomed 30.6%. It has gained 31% on a year-to-date basis.

The defence company’s market capitalisation stands at ₹ 54,434.53 crore.

Shares of the firm had touched their one-year high of ₹2,096.60 apiece on May 30, 2025, while their 52-week low of ₹890 was hit on November 18, 2025.

Incorporated in 1970, Bharat Dynamics Limited (BDL) is an Indian public sector undertaking under the Ministry of Defence, specialising in the manufacture of guided missile systems and related equipment for the Indian Armed Forces. As of June 2025, the government held a 74.93% stake in the defence PSU.