Bharat Dynamics Ltd. (BDL) AI Stock Analysis

• Market Cap: ₹416.82B
• Dividend Yield: 0.33%
• Average Volume (3M): 88.01K
• Price to Earnings (P/E): 184.3
• Beta (1Y): 1.42
• Revenue Growth: 82.69%
• EPS Growth: 18.17%
• Country: IN
• Employees: 2,401
• Sector: Industrials
• Sector Strength: 72
• Industry: Aerospace & Defense
• EPS (TTM): 2.00
• Shares Outstanding: 366,562,500
• 10 Day Avg. Volume: 76,664
• 30 Day Avg. Volume: 88,007
• PEG Ratio: -8.03
• Price to Book (P/B): 11.39
• Price to Sales (P/S): 13.65
• P/FCF Ratio: 247.98
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹1,800.00
• Price Target Upside: 16.75% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 20.45
• Revenue Forecast (FY): ₹42.05B

• Rating: 60 Neutral
• Price Target: ₹1,240.00 ▼(-19.57% Downside)
• Action: Reiterated Date: 02/03/26
• Date: Action: Reiterated 02/03/26

The score is primarily supported by strong financial performance (especially balance sheet quality and profitability). This is meaningfully offset by weak technical momentum (below major moving averages with negative MACD) and an expensive valuation (very high P/E with low dividend yield).

Positive Factors

Strong Balance Sheet

A low debt-to-equity ratio and high equity proportion indicate durable financial flexibility for multi-year defence programs. Strong ROE shows efficient capital use, reducing refinancing risk and supporting sustained funding of long-cycle contracts and capacity investments over the next 2–6 months.

Negative Factors

Volatile EBIT Margins

Fluctuating EBIT margins suggest operating leverage sensitivity to program mix, input costs and execution efficiency. Margin volatility makes earnings less predictable across long-cycle contracts and can compress the cash cushion if cost overruns or lower-margin projects recur.

Bharat Dynamics Ltd. Business Overview & Revenue Model

Company Description

Bharat Dynamics Limited engages in the manufacture and sale of guided missiles and allied defense products in India. It provides surface to air missiles, anti-tank guided missiles, underwater weapons, launchers, counter measures dispensing systems...

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Bharat Dynamics Limited engages in the manufacture and sale of guided missiles and allied defense products in India. It provides surface to air missiles, anti-tank guided missiles, underwater weapons, launchers, counter measures dispensing systems...

How the Company Makes Money

BDL primarily makes money by manufacturing and supplying defence missile systems and related equipment under contracts placed by government defence customers, with revenue recognized based on contract terms and delivery/milestone execution. Its ke...

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BDL primarily makes money by manufacturing and supplying defence missile systems and related equipment under contracts placed by government defence customers, with revenue recognized based on contract terms and delivery/milestone execution. Its ke...

Bharat Dynamics Ltd. Financial Statement Overview

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	40.04B	33.45B	23.69B	24.89B	28.17B	19.14B
Gross Profit	18.37B	16.32B	14.30B	12.68B	16.11B	10.49B
EBITDA	6.84B	4.70B	5.34B	4.06B	7.22B	3.41B
Net Income	6.54B	5.50B	6.13B	3.52B	5.00B	2.58B
Balance Sheet
Total Assets	130.68B	117.42B	103.40B	86.72B	65.64B	59.62B
Cash, Cash Equivalents and Short-Term Investments	49.52B	41.90B	42.28B	38.59B	19.00B	15.61B
Total Debt	12.36M	21.15M	37.41M	52.08M	65.27M	77.12M
Total Liabilities	88.51B	77.34B	67.03B	54.61B	35.33B	32.77B
Stockholders Equity	42.17B	40.09B	36.37B	32.11B	30.31B	26.85B
Cash Flow
Free Cash Flow	-1.52B	1.84B	3.31B	20.22B	4.28B	10.11B
Operating Cash Flow	-802.75M	4.67B	4.12B	21.30B	5.30B	10.68B
Investing Cash Flow	5.32B	-7.09B	-7.22B	-11.71B	-5.73B	-7.34B
Financing Cash Flow	-38.68M	-2.18B	-1.48B	-1.71B	-1.49B	-1.73B

Bharat Dynamics Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1541.75
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: 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 1541.75 is above the 20-day moving average (MA) of 1280.84, above the 50-day MA of 1335.34, and above the 200-day MA of 1527.01, indicating a bearish trend. The MACD of -33.91 indicates Positive momentum. The RSI at 36.22 is Neutral, neither overbought nor oversold. The STOCH value of 8.72 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BEL	77 Outperform	₹2.96T	46.53	―	0.60%	16.58%	25.45%
HAL	71 Outperform	₹2.40T	39.31	―	0.90%	3.05%	-0.57%
GRSE	71 Outperform	₹237.11B	40.98	―	0.80%	43.86%	60.18%
MAZDOCK	68 Neutral	₹872.87B	28.54	―	0.47%	12.22%	-9.22%
COCHINSHIP	65 Neutral	₹330.69B	73.64	―	0.59%	19.62%	-12.34%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
BDL	60 Neutral	₹416.82B	184.29	―	0.33%	82.69%	18.17%

Bharat Dynamics Ltd. Corporate Events