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Bharat Dynamics Ltd.
(BDL)
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Rating:56Neutral
Price Target:
₹1,385.00
▲(11.48% Upside)
Action:Reiterated
Date:05/29/26
The score is most supported by strong underlying financial resilience (especially the conservative balance sheet and solid cash generation), but is significantly pulled down by weak technical momentum (price below key moving averages with negative MACD) and an expensive valuation (very high P/E with low dividend yield).
Positive Factors
Strong balance sheet
Minimal leverage and steadily growing equity provide durable financial flexibility: the company can fund working capital, capex and program ramp-ups from internal resources or modest financing, lowering risk in multi‑year defence contracts and supporting continuity through procurement cycles.
Negative Factors
Sharp recent revenue decline
A near‑40% revenue drop and weaker operating profit indicate meaningful program timing, delivery or award disruptions. Such swings can impair capacity utilization and margin sustainability, and may take multiple procurement cycles to fully recover, affecting medium‑term earnings durability.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet
Minimal leverage and steadily growing equity provide durable financial flexibility: the company can fund working capital, capex and program ramp-ups from internal resources or modest financing, lowering risk in multi‑year defence contracts and supporting continuity through procurement cycles.
Read all positive factors
Bharat Dynamics Ltd. (BDL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹474.33B
Dividend Yield0.4%
Average Volume (3M)88.01K
Price to Earnings (P/E)112.8
Beta (1Y)1.39
Revenue Growth-27.00%
EPS Growth-23.51%
CountryIN
Employees2,401
SectorGeneral
Sector StrengthN/A
IndustryAerospace & Defense
Share Statistics
EPS (TTM)11.47
Shares Outstanding366,562,500
10 Day Avg. Volume76,664
30 Day Avg. Volume88,007
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)22.7
Revenue Forecast (FY)₹41.76B
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 | 4.70B | 5.34B | 4.06B | 7.22B |
| 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
Positive
1242.40
Price Trends
1282.31
Positive
1300.11
Negative
1366.54
Negative
Market Momentum
-9.41
Negative
53.22
Neutral
74.14
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BDL, the sentiment is Positive. The current price of 1242.4 is below the 20-day moving average (MA) of 1263.22, below the 50-day MA of 1282.31, and below the 200-day MA of 1366.54, indicating a neutral trend. The MACD of -9.41 indicates Negative momentum. The RSI at 53.22 is Neutral, neither overbought nor oversold. The STOCH value of 74.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹3.28T | 36.02 | ― | 1.09% | 6.80% | 8.98% | |
70 Outperform | ₹245.33B | 91.43 | ― | 0.23% | 33.81% | 24.90% | |
67 Neutral | ₹2.94T | 47.74 | ― | 0.70% | 19.83% | 11.75% | |
67 Neutral | ₹102.81B | 116.54 | ― | 0.04% | 30.69% | 36.74% | |
60 Neutral | ₹150.11B | 123.24 | ― | 0.09% | 60.89% | 73.08% | |
56 Neutral | ₹474.33B | 112.82 | ― | 0.41% | -27.00% | -23.51% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:BDL
Bharat Dynamics Ltd.
1,309.50
-201.56
-13.34%
IN:APOLLO
Apollo Micro Systems Ltd.
388.25
202.00
108.46%
IN:BEL
Bharat Electronics Limited
403.60
22.31
5.85%
IN:DATAPATTNS
Data Patterns (India) Limited
4,427.00
1,917.22
76.39%
IN:HAL
Hindustan Aeronautics Limited
4,920.00
525.24
11.95%
IN:PARAS
Paras Defence & Space Technologies Ltd.
1,267.35
614.80
94.22%
Bharat Dynamics Ltd. Corporate Events
Bharat Dynamics Files Quarterly Share Capital Reconciliation Report
Jul 22, 2026
Bharat Dynamics Limited has submitted its Reconciliation of Share Capital Audit Report for the quarter ended 30 June 2026, in compliance with Regulation 76 of the SEBI (Depositories and Participants) Regulations, 2018. The filing to NSE and BSE un...
Bharat Dynamics Secures Rs 1,348-Crore Defence Orders from HAL
Jun 24, 2026
Bharat Dynamics Ltd. has received domestic defence orders worth about Rs 1,347.71 crore from Hindustan Aeronautics Ltd., covering Helina launchers and line replaceable units as well as countermeasure dispensing system LRUs. The contracts, to be ex...
Bharat Dynamics Schedules Investor Meetings in Hyderabad on 11 June
Jun 8, 2026
Bharat Dynamics Ltd. has announced a series of analyst and institutional investor meetings scheduled for 11 June 2026 in Hyderabad, hosted by Antique Institutional Equities, DAM Capital Advisories and Citi Group Global Markets. These sessions, to ...
Bharat Dynamics Announces Retirement of Executive Director
Jun 1, 2026
Bharat Dynamics Limited has announced a change in its senior management, with Executive Director Cmde. Girish Raghunath Pradhan (Retd.) retiring on 31 May 2026 upon reaching the age of superannuation. The retirement marks a leadership transition a...
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.