BEL Q4 Results: Profit jumps nearly 5% YoY but orderbook misses estimates
Sarthak Kumar
Bharat Electronics Ltd (BEL) reported a steady set of Q4 FY26 earnings with double-digit revenue growth and improved profitability, although the company’s order book came in below analyst expectations.
The defence PSU posted a consolidated net profit of ₹2,226 crore for the March quarter, compared to ₹2,127 crore reported in the corresponding quarter last year, marking a growth of 4.7% year-on-year.
Revenue from operations rose 11.7% YoY to ₹10,224.4 crore in Q4 FY26 from ₹9,149.5 crore in the year-ago period.
Operationally, EBITDA stood at ₹2,981.6 crore during the quarter against ₹2,816 crore in Q4 FY25, reflecting a growth of 5.9% YoY. However, EBITDA margin narrowed to 29.2% from 30.8% in the corresponding quarter last year, indicating margin pressure during the period.
BEL also recommended a final dividend of ₹0.55 per equity share for FY26.
Meanwhile, the company’s order book stood at ₹73,882 crore at the end of the quarter, lower than Street estimates of ₹80,461 crore.
The order pipeline and execution outlook remain key monitorables for investors, especially amid continued focus on domestic defence manufacturing and government procurement.