Bharat Electronics Limited (500049) Earnings Call Transcripts

Bharat Electronics Limited's Latest Earnings Call - Q4 FY2026

In Q4 FY '26, Bharat Electronics Limited reported a revenue of INR 27,480 crores, up 16% YoY, and a profit after tax of INR 6,048 crores, reflecting a 14% increase. The company maintained its guidance for FY '27, projecting revenue growth of over 15% and EBITDA margins exceeding 28%. The management highlighted a robust order inflow expectation of over INR 55,000 crores, including significant contributions from the QRSAM program, which is anticipated to be finalized soon.

Reported metrics

Guidance from management

Bharat Electronics expects revenue growth of over 15% and EBITDA margins exceeding 28% for FY '27, with an order inflow target of over INR 55,000 crores, including the anticipated QRSAM contract.

What management said

Thank you, [indiscernible]. Good evening, everyone, and welcome to today's Q4 FY '26 Bharat Electronics Con Call. From the management side, we have with us Mr. Manoj Jain, Chairman and Managing Director; Mr. Damodar Bhattad, Director Finance and CFO; and Mr. Sri Sreenivas, Company Secretary. Without taking any much time, I'll hand over to Chairman Jain for his opening remarks. Over to you, sir.

Okay. Yes, I heard your question properly now. So these cutting-edge technologies, they have to develop it in part of [ ALTAS ] collaboration partner. The partner for us or DRDO, start-ups, academia and our in-house strength. So this drone electronics or drone technology or quantum technologies, whether it's QKD or quantum safe communication, et cetera. We are working on all these 4 pillars of development. So we hav...

What analysts pressed on

Analysts expressed concerns regarding the flat order book growth and the potential impact of geopolitical tensions on supply chains. There were questions about the sustainability of margins given the rising costs associated with employee compensation and raw materials.

Main topics on the call

• Revenue Growth — Bharat Electronics achieved a revenue of INR 27,480 crores for FY '26, representing a 16% increase from INR 23,658 crores in FY '25. Management stated, "We have met all the guidance parameters in the last financial year....
• Profitability Metrics — The profit before tax rose to INR 8,075 crores, a 14% increase YoY, while profit after tax reached INR 6,048 crores. EBITDA margin improved to 30% from 29% in the previous year, indicating strong operational efficiency.
• Order Book and Future Opportunities — The order book stands at approximately INR 74,000 crores, with expectations for new orders driven by defense electronics and emerging technologies. Management noted, "We are in very, very advanced stage of discussion" re...
• CapEx and R&D Investment — Management indicated a CapEx target of over INR 1,200 crores for FY '27, alongside an R&D investment of around INR 2,200 crores. This reflects a commitment to enhancing technological capabilities and infrastructure.

Read the full Bharat Electronics Limited transcript (Q4 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 8 Bharat Electronics Limited earnings call transcripts on record, spanning January 31, 2024 to July 27, 2026. Based on this history, Bharat Electronics Limited reports semi-annually. The most recent call on file is dated July 27, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

500049

Exchange

BSE

Country

IN

Sector

Industrials

Industry

Aerospace and Defense

Calls on record

8

First call

January 31, 2024

Most recent

July 27, 2026

Reporting cadence

semi-annually