Bharat Electronics Limited (BEL) is a public sector company specialising in aerospace and defence electronics. It is primarily engaged in design, development, manufacturing and supply of high-end electronic products and systems. Bharat Electronics Ltd is a Navratna public sector undertaking under the Ministry of Defence.
The company’s market capitalisation stood at over ₹1.18 lakh crore as of December 13, 2023. BEL share price has surged over 324% in the last three years.
Bharat Electronics Limited was established in Bengaluru in 1954. The company began its journey by producing a small range of communication equipment in 1956. It ventured into producing receiving valves in 1961, Germanium semiconductors in 1962 and radio transmitters for All India Radio (AIR) in 1964.
The company established a radar manufacturing unit for the Indian Army in 1966. By 1970, BEL was manufacturing black-and-white television picture tubes and X-ray tubes. In 1972, it started supplying TV transmitters to Doordarshan.
The company now caters to the diverse needs of both defence and civilian customers in India and abroad through its multi-product and multi-technology portfolio. BEL specialises in products for communication, radars, naval systems, electronic warfare systems, weapon systems and DTH. The company also manufactures electronic voting machines (EVMs).
In 2002, the company was the first defence PSU to get Miniratna status and in 2007 it became a Navratna PSU.
BEL business operations
Bharat Electronics Limited operates through several subsidiaries. BEL Optronic Devices Limited (BELOP) is a wholly-owned subsidiary of the company. BEL-THALES Systems Limited (BTSL) operates as a subsidiary with BEL holding a 74% share in the company. GE BE Pvt Limited (GEBEL) functions as a joint venture (JV) with BEL holding a 26% share. Bharat Electronics Limited holds a 50% shareholding in the Defence Innovation Organisation (DIO).
In the defence segment, BEL received orders worth ₹18,052 crore in FY23. BEL’s defence products include radar and fire control systems, weapon systems, communication, network-centric systems, electronic warfare systems, avionics, anti-submarine warfare systems, sonar systems, electro-optics, tank electronics, gun upgrades, cyber security systems and unmanned systems.
Bharat Electronics Limited's recent milestones include the successful delivery of various defence systems such as the DRDO-designed Akash Missile System, Long Range Surface to Air Missile (LR SAM), Naval Fire Control Systems, L-70 Air Defence Gun System, and Schilka Air Defence Gun System.
BEL’s export services cater to clients in countries like the United States, France, China, Germany, Switzerland, ASEAN nations, Mauritius, the Republic of Armenia, Sri Lanka, Sweden and Israel.
Over the years, the company has signed MoUs with several foreign defence manufacturers like Lockheed Martin, EADS and Northrop Grumman, Rafael, Raytheon and Elisra for developing electronic warfare systems.
BEL Financial Highlights
- Revenue: BEL reported revenue of ₹28,176.14 crore in FY26 vs ₹24,511.11 crore in FY25. It showed an increase of 14.95% on a yearly basis.
- Operating Profit: BEL reported an operating profit of ₹8,052.96 crore in FY26 vs ₹7,099.00 crore in FY25. It showed an increase of 13.44% on a year-on-year basis.
- Net Profit: BEL reported a net profit of ₹6,023.47 crore in FY26 vs ₹5,287.15 crore in FY25. It showed an increase of 13.93% on a yearly basis.
BEL Quarterly Result Highlights
- BEL reported revenue of ₹10,334.68 crore in Mar 2026, compared with ₹7,292.39 crore in Dec 2025, representing an increase of 41.72% on a quarter-on-quarter (QoQ) basis.
- BEL reported an operating profit of ₹2,917.34 crore in Mar 2026, compared with ₹2,128.31 crore in Dec 2025, representing an increase of 37.07% on a quarter-on-quarter (QoQ) basis.
- BEL reported a profit of ₹2,214.19 crore in Mar 2026, compared with ₹1,570.19 crore in Dec 2025, reflecting an increase of 41.01% on a QoQ basis.
- The earnings per share (EPS) of BEL stood at ₹7.28 during Mar 2026.
