return to news
  1. Upstox
    /
  2. News
    /
  3. Market News
    /
  4. Stocks
    /
  5. Bharat Electronics shares slump 5% as Q4 PAT misses estimates, EBITDA rises 6% YoY; here’s what analysts said

Market News

Bharat Electronics shares slump 5% as Q4 PAT misses estimates, EBITDA rises 6% YoY; here’s what analysts said

Abha Raverkar
By Abha Raverkar

3 min read | Updated on May 20, 2026, 12:26 IST

Google
SelectUpstoxas yourPreferred news source
Copy link
Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

BEL Q4 results: The company's board recommended a final dividend of ₹0.55 per equity share of ₹1 each fully paid-up for the financial year 2025-26.

Stock list

BEL
--
BEL share price

Bharat Electronics has a total market capitalisation of ₹3 lakh crore as of May 20, 2026, according to data on the NSE. | Image: Shutterstock

BEL share price: Shares of defence electronics company Bharat Electronics Ltd (BEL) fell as much as 4.77% to touch an intraday low of ₹407 apiece on the National Stock Exchange (NSE) on Wednesday, May 20, as its earnings failed to impress investors.
Open FREE Demat Account within minutes!
Join now

Furthermore, its profit after tax (PAT) for the March quarter of the 2025-26 financial year (Q4 FY26) missed estimates, as per analysts.

At around 12:11 PM, the stock was trading 2.91% lower at ₹410.65 per equity share.

The scrip has lost 4% in the past week and 10% over the month. However, on a year-to-date basis, it has risen more than 3%.

While the share hit a 52-week high of ₹473.45 on March 6, 2026, it touched a year’s low of ₹340.80 per unit on May 15, 2025.

BEL Q4 results

BEL reported a consolidated net profit of ₹2,225.22 crore in the fourth quarter of FY26, marking a 4.61% year-on-year (YoY) jump from ₹2,127.04 crore in the same period of the preceding year.

Its revenue from operations surged 11.74% YoY to ₹10.224.43 crore during the quarter under review, compared to ₹9,149.59 crore in the March quarter of the 2024-25 fiscal year (Q4 FY25).

At an operational level, its EBITDA (earnings before interest, tax, depreciation and amortisation), also known as operating profit, stood at ₹2,982 crore in Q4 FY26, up 6% YoY from 2,816 crore in the year-ago period.

BEL’s operating profit margin contracted to 29.1% from 30.7% annually.

As of April 1, 2026, the Navratna defence PSU company’s order book stood at ₹73,882 crore.

Dividend

The company's board recommended a final dividend of ₹0.55 per equity share of ₹1 each fully paid-up for the financial year 2025-26, subject to approval by the shareholders in the ensuing Annual General Meeting (AGM).

What analysts said

Analysts at Goldman Sachs noted that BEL’s operational performance was broadly in line with estimates. However, its profit after tax (PAT) missed estimates due to higher depreciation and lower other income. Its order book remained healthy at ₹73,900 crore, and its book-to-bill ratio stood at 2.7x. The Navratna PSU met or exceeded most FY26 guidance metrics. In FY27, its key monitorables include order inflow, execution, and margin sustainability.
In a note, analysts at Nomura said that BEL delivered steady, largely in line, operating performance in the quarter ended March 31, 2026. Management’s commentary of FY27 guidance, order inflow momentum and margin trajectory will be the key monitorables going forward.

Bharat Electronics has a total market capitalisation of ₹3 lakh crore as of May 20, 2026, according to data on the NSE.

Disclaimer: This article is purely for informational purposes and should not be considered investment advice from Upstox. Please consult with a financial advisor before making any investment decisions.

About The Author

Abha Raverkar
Abha Raverkar is a post-graduate in economics from Christ University, Bengaluru. She has a strong interest in the markets and loves to unravel the nitty-gritties of the latest happenings in the world of markets, business, and the economy.

Next Story