Navratna PSU defence company Bharat Electronics (BEL) share price fell over 3% on NSE in Tuesday’s trading session after the company reported its April-June quarter results (Q1 results 2026) on Monday.
BEL share price opened at ₹406.15 apiece today, as compared to previous close of ₹407.15 on Monday. The PSU defence stock touched an intraday low of ₹392.10 on 28 July.
BEL Q1 results 2026
BEL, on Monday, reported its financial results for the June quarter (Q1 FY27), after market hours. The company’s consolidated net profit rose 8.2% year-on-year (YoY) to ₹1,048 crore, compared with ₹969 crore in the same quarter last year.
On a quarter-on-quarter (QoQ) basis, however, net profit declined 52.4% from ₹2,203 crore reported in the March quarter (Q4 FY26).
Revenue from operations climbed 25.3% YoY to ₹5,533 crore in Q1 FY27 from ₹4,417 crore a year ago. Sequentially, revenue dropped 45.6% from ₹10,177 crore recorded in the previous quarter.
At the operating level, EBITDA increased about 12% YoY to ₹1,389 crore from ₹1,240 crore in the year-ago period. However, the EBITDA margin narrowed to 25.11%, compared with 28% in Q1 FY26.
BEL’s order book in Q1 FY27
The company also updated its order book, stating in a regulatory filing that it stood at ₹72,258 crore as of July 1, 2026, offering strong revenue visibility for the upcoming quarters.
In July, BEL won an order worth ₹572 crore for supplying communication equipment, avionics, encryptors, tank sub-systems, electronic voting machines (EVMs), batteries, components, upgrades, spares, and related services.
This followed a ₹1,081 crore contract secured in late June for the supply of communication equipment, radars, CBRN (Chemical, Biological, Radiological and Nuclear) protection systems, seekers, avionics, upgrades, spares, and related services.
Earlier in May, the defence PSU had received orders worth ₹608 crore, further boosting its order backlog and enhancing revenue visibility.
BEL share price – Should you buy or sell?
Brokerage firm Choice Broking has reteirated its ‘buy’ rating on the BEL stock, with a revised target price of ₹500, seeing an upside potential upto 23.4%.
“We maintain our positive stance on BHE, underpinned by its robust long-term growth visibility, supported by a healthy orderbook and strong order pipeline. Reiterating our ‘BUY’ rating with a TP of INR 500, we value it at 40x of FY28E EPS,” the firm said.
Meanwhile, brokerage firm PL Capital has also maintained a bullish stance on the PSU defence stock, with a target price of ₹453.
“We remain positive on long-term growth story of BEL given 1) strong order backlog & strong multi-year order pipeline 2) diversification in newer business verticals like data centres, cyber-security, drones and quantum communication to aid non-defense growth and 3) govt’s focus on product indigenization. The stock is currently trading at PE of 42.2x/36.1x on FY27E/FY28E. We maintain our rating of ‘Accumulate’ valuing the stock at a PE of 40x Mar’28E (same as earlier) arriving at a TP of Rs453 (same as earlier),” it said.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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