Valuation Bharat Electronics Limited

Equities

Market Closed - Bombay S.E. Other stock markets 10:27:05 06/03/2026 GMT			5-day change	1st Jan Change
468.35 ^INR	+1.82%		+5.38%	+17.18%

02-28	Bharat Electronics Limited Announces Superannuation of Vanisree V as Chief Technology Officer, Effective Date 01 March 2026	CI
02-27	Bel declares dividend of 1.95 rupees per share	RE

Data adjusted to current consolidation scope

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	304,818	513,756	713,069	1,472,555	2,201,705	3,423,535	-	-
Change	-	68.55%	38.8%	106.51%	49.52%	55.49%	-	-
Enterprise Value (EV) ¹	291,151	438,628	633,592	1,363,187	2,108,345	3,310,971	3,274,081	3,235,637
Change	-	50.65%	44.45%	115.15%	54.66%	57.04%	-1.11%	-1.17%
P/E ratio	14.8x	21.9x	23.7x	36.6x	41.7x	56.2x	47.6x	40.8x
PBR	2.82x	4.29x	5.25x	9.16x	11.2x	14.4x	12.1x	10.2x
PEG	-	1.6x	0.8x	1.1x	1.3x	3.7x	2.6x	2.4x
Capitalization / Revenue	2.17x	3.35x	4.04x	7.3x	9.31x	12.4x	10.6x	9.03x
EV / Revenue	2.07x	2.86x	3.59x	6.76x	8.91x	12x	10.1x	8.53x
EV / EBITDA	9.15x	13.3x	15.7x	27.3x	31.2x	41.9x	35.4x	30.1x
EV / EBIT	10.3x	15x	17.4x	29.7x	33.3x	44.9x	38x	32.5x
EV / FCF	6.28x	12.2x	107x	34x	-403x	80.1x	69.4x	67.6x
FCF Yield	15.9%	8.22%	0.94%	2.94%	-0.25%	1.25%	1.44%	1.48%
Dividend per Share ²	1.333	1.5	1.8	2.8	2.4	3.261	3.782	4.486
Rate of return	3.2%	2.13%	1.85%	1.39%	0.8%	0.7%	0.81%	0.96%
EPS ²	2.827	3.213	4.11	5.5	7.23	8.334	9.835	11.48
Distribution rate	47.2%	46.7%	43.8%	50.9%	33.2%	39.1%	38.5%	39.1%
Net sales ¹	140,638	153,138	176,462	201,694	236,580	275,076	323,689	379,169
EBITDA ¹	31,811	33,092	40,475	49,982	67,676	78,981	92,466	107,616
EBIT ¹	28,148	29,291	36,396	45,857	63,320	73,661	86,169	99,689
Net income ¹	20,654	23,489	30,067	40,200	52,882	60,898	71,935	83,960
Net Debt ¹	-13,667	-75,128	-79,477	-109,368	-93,361	-112,564	-149,454	-187,898
Reference price ²	41.70	70.28	97.55	201.45	301.20	468.35	468.35	468.35
Nbr of stocks (in thousands)	7,309,779	7,309,779	7,309,779	7,309,779	7,309,779	7,309,779	-	-
Announcement Date	22/06/21	23/05/22	20/05/23	20/05/24	19/05/25	-	-	-

¹INR in Million²INR

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (N)	EV / Sales (N)	EV / EBITDA (N)	Dividend Yield (N)	Capi.($)
BHARAT ELECTRONICS LIMITED	56.2x	12.04x	41.92x	0.7%	37.25B
GE AEROSPACE	39.77x	7.2x	30.08x	0.53%	339B
RTX CORPORATION	37.23x	3.3x	19.49x	1.39%	282B
ROLLS-ROYCE HOLDINGS PLC	34.11x	4.59x	21.32x	1%	141B
NORTHROP GRUMMAN CORPORATION	27.05x	2.66x	18.88x	1.29%	107B
GENERAL DYNAMICS CORPORATION	22.33x	1.87x	15.43x	1.76%	98.14B
BAE SYSTEMS PLC	31.77x	2.36x	17.01x	1.61%	88.17B
RHEINMETALL AG	70.08x	7.21x	31.09x	0.66%	84.74B
L3HARRIS TECHNOLOGIES, INC.	31.65x	3.27x	17.95x	1.36%	68.47B
HANWHA AEROSPACE CO., LTD.	57.27x	3.11x	19.93x	0.26%	51.31B
Average	40.75x	4.76x	23.31x	1.06%	129.72B
Weighted average by Cap.	38.40x	4.73x	23.27x	1.04%