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Bharat Dynamics Ltd.
(BDL)
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Rating:64Neutral
Price Target:
₹1,077.00
▼(-21.04% Downside)
Action:Reiterated
Date:08/29/26
The score is primarily supported by strong financial fundamentals—especially a conservative, resilient balance sheet and solid (though volatile) cash generation. Offsetting this are weak technical positioning with the stock trading below key moving averages and an expensive valuation (very high P/E with low yield), which raises downside risk if recent revenue/profit weakness persists.
Positive Factors
Balance Sheet Strength
Minimal leverage and steadily growing equity provide a durable financial foundation for operations and investment. This reduces dependence on borrowing, limits financial strain during uneven procurement cycles, and preserves flexibility to fund production and strategic programs internally.
Negative Factors
Revenue Contraction
The sharp latest-period revenue decline and lower operating profit indicate weaker near-term order conversion or delivery timing. If this operating momentum persists, it could reduce earnings capacity, dilute fixed-cost absorption, and make future profitability more dependent on program timing.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Minimal leverage and steadily growing equity provide a durable financial foundation for operations and investment. This reduces dependence on borrowing, limits financial strain during uneven procurement cycles, and preserves flexibility to fund production and strategic programs internally.
Read all positive factors
Bharat Dynamics Ltd. (BDL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹364.36B
Dividend Yield0.49%
Average Volume (3M)66.29K
Price to Earnings (P/E)69.8
Beta (1Y)1.65
Revenue Growth-18.69%
EPS Growth-7.13%
CountryIN
Employees2,101
SectorGeneral
Sector StrengthN/A
IndustryAerospace & Defense
Share Statistics
EPS (TTM)11.47
Shares Outstanding366,562,500
10 Day Avg. Volume57,341
30 Day Avg. Volume66,288
Financial Highlights & Ratios
PEG Ratio-4.07
Price to Book (P/B)9.48
Price to Sales (P/S)16.46
P/FCF Ratio56.51
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)22.47
Revenue Forecast (FY)₹42.57B
Bharat Dynamics Ltd. Business Overview & Revenue Model
Company Description
Bharat Dynamics Limited (BDL) is an Indian enterprise primarily involved in the development, manufacturing, and distribution of advanced guided missile systems and an array of related defense equipment. Its comprehensive product line includes soph...
How the Company Makes Money
BDL primarily makes money by manufacturing and supplying defence missile systems and related products under procurement contracts, with revenue recognized from the delivery of these systems and associated project milestones as per contract terms. ...
Bharat Dynamics Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
90
Very Positive
Cash Flow
74
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 24.42B | 33.45B | 23.69B | 24.89B | 28.17B |
| Gross Profit | 6.08B | 16.32B | 14.30B | 12.68B | 16.11B |
| EBITDA | 6.47B | 4.72B | 5.37B | 4.08B | 7.26B |
| Net Income | 4.20B | 5.50B | 6.13B | 3.52B | 5.00B |
Balance Sheet | |||||
| Total Assets | 142.61B | 117.42B | 103.40B | 86.72B | 65.64B |
| Cash, Cash Equivalents and Short-Term Investments | 47.09B | 41.90B | 42.28B | 38.59B | 19.00B |
| Total Debt | 3.15M | 21.15M | 37.41M | 52.08M | 65.27M |
| Total Liabilities | 100.21B | 77.34B | 67.03B | 54.61B | 35.33B |
| Stockholders Equity | 42.41B | 40.09B | 36.37B | 32.11B | 30.31B |
Cash Flow | |||||
| Free Cash Flow | 7.11B | 1.84B | 3.31B | 20.22B | 4.28B |
| Operating Cash Flow | 9.40B | 4.67B | 4.12B | 21.30B | 5.30B |
| Investing Cash Flow | -182.35M | -7.09B | -7.22B | -11.71B | -5.73B |
| Financing Cash Flow | -1.92B | -2.18B | -1.48B | -1.71B | -1.49B |
Bharat Dynamics Ltd. Technical Analysis
Negative
1364.00
Price Trends
1178.82
Negative
1236.90
Negative
1287.15
Negative
Market Momentum
-42.24
Positive
27.13
Positive
10.39
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BDL, the sentiment is Negative. The current price of 1364 is above the 20-day moving average (MA) of 1076.72, above the 50-day MA of 1178.82, and above the 200-day MA of 1287.15, indicating a bearish trend. The MACD of -42.24 indicates Positive momentum. The RSI at 27.13 is Positive, neither overbought nor oversold. The STOCH value of 10.39 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BDL.
Bharat Dynamics Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ₹3.24T | 34.80 | ― | 0.51% | 7.42% | 12.16% | |
72 Outperform | ₹223.25B | 83.28 | ― | 0.25% | 33.81% | 24.90% | |
68 Neutral | ₹2.66T | 43.26 | ― | 0.69% | 19.83% | 11.75% | |
66 Neutral | ₹104.94B | 111.14 | ― | 0.08% | 36.61% | 47.63% | |
64 Neutral | ₹364.36B | 69.85 | ― | 0.49% | -18.69% | -7.13% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹154.23B | 108.33 | ― | 0.06% | 77.12% | 46.48% |
* General Sector Average
IN:BDL
Bharat Dynamics Ltd.
994.00
-525.87
-34.60%
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1,302.20
596.24
84.46%
Bharat Dynamics Ltd. Corporate Events
Bharat Dynamics Files Share Capital Reconciliation Report for September Quarter
Oct 22, 2026
Bharat Dynamics Limited has submitted its Reconciliation of Share Capital Audit Report for the quarter ended 30 September 2026 to the National Stock Exchange of India and BSE Limited. The filing is made pursuant to Regulation 76 of the SEBI (Depos...
Bharat Dynamics Reports No Dematerialization Activity, Confirms SEBI Compliance
Oct 12, 2026
Bharat Dynamics Ltd. has confirmed compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The company reported that securities received for dematerialization, if any...
Bharat Dynamics Closes Trading Window Ahead of Quarterly Results
Sep 29, 2026
Bharat Dynamics Limited has announced the closure of its trading window for insiders, designated persons, connected persons, and their immediate relatives starting 1 October 2026, in line with SEBI’s Prohibition of Insider Trading Regulation...
Bharat Dynamics inducts new government director Prakash Rajpurohit to its board
Sep 18, 2026
Bharat Dynamics Ltd. announced that the Ministry of Defence has appointed Prakash Rajpurohit, Joint Secretary (DIP), as a part-time official (government) director on its board, effective 17 September 2026, replacing Meera Mohanty. The appointment,...
Bharat Dynamics Sets Virtual AGM and Book Closure for 2025-26 Dividend
Sep 4, 2026
Bharat Dynamics Limited has announced that its 56th Annual General Meeting will be held via video conference and other audio-visual means on 28 September 2026, with e-voting facilities provided to shareholders in line with MCA and SEBI guidelines....
Bharat Dynamics Files 2025-26 Business Responsibility and Sustainability Report
Sep 3, 2026
Bharat Dynamics Ltd. has submitted its Business Responsibility and Sustainability Report for the financial year 2025-26 to Indian stock exchanges, in line with SEBI’s disclosure requirements, and has also made the document available on its w...
Bharat Dynamics Flags NSE, BSE Fines; Seeks Waiver Citing Govt Control on Board Appointments
Aug 26, 2026
Bharat Dynamics Ltd. has disclosed that both BSE and NSE have imposed fines of Rs 13,03,900 each, inclusive of GST, for the quarter ended 30 June 2026 due to non-compliance with several provisions of SEBI’s Listing Obligations and Disclosure...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.