Bharat Dynamics Ltd. (IN:BDL)
:BDL
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Bharat Dynamics Ltd.
(BDL)
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Rating:56Neutral
Price Target:
₹1,322.00
▼(-14.25% Downside)
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
Balance Sheet Strength
Minimal debt and steadily rising equity provide durable financial flexibility for BDL. Low leverage reduces refinancing risk and interest burden, enabling sustained investment in capacity and program execution. This balance-sheet strength supports multi-year defense contracts without stressing solvency.
Negative Factors
Recent Revenue Decline
A ~39% revenue drop and weaker operating profit in the latest year signal execution or order-conversion stress. Such a marked decline impairs margin sustainability, complicates capacity utilization, and reduces near-term earnings visibility for multi-month planning across defense programs.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Minimal debt and steadily rising equity provide durable financial flexibility for BDL. Low leverage reduces refinancing risk and interest burden, enabling sustained investment in capacity and program execution. This balance-sheet strength supports multi-year defense contracts without stressing solvency.
Read all positive factors
Bharat Dynamics Ltd. (BDL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹439.75B
Dividend Yield0.33%
Average Volume (3M)88.01K
Price to Earnings (P/E)105.4
Beta (1Y)1.40
Revenue Growth-27.00%
EPS Growth-23.51%
CountryIN
Employees2,401
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)17.84
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)21.97
Revenue Forecast (FY)₹41.03B
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 equipment under procurement contracts, with revenue recognized from executing orders in its order book. Its core revenue stream is the sale/delivery of gu...
Bharat Dynamics Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
90
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 40.04B | 24.42B | 33.45B | 23.69B | 24.89B | 28.17B |
| Gross Profit | 18.37B | 6.08B | 16.32B | 14.30B | 12.68B | 16.11B |
| EBITDA | 6.84B | 6.47B | 4.70B | 5.34B | 4.06B | 7.22B |
| Net Income | 6.54B | 4.20B | 5.50B | 6.13B | 3.52B | 5.00B |
Balance Sheet | ||||||
| Total Assets | 130.68B | 142.61B | 117.42B | 103.40B | 86.72B | 65.64B |
| Cash, Cash Equivalents and Short-Term Investments | 49.52B | 51.89B | 41.90B | 42.28B | 38.59B | 19.00B |
| Total Debt | 12.36M | 3.15M | 21.15M | 37.41M | 52.08M | 65.27M |
| Total Liabilities | 88.51B | 100.21B | 77.34B | 67.03B | 54.61B | 35.33B |
| Stockholders Equity | 42.17B | 42.41B | 40.09B | 36.37B | 32.11B | 30.31B |
Cash Flow | ||||||
| Free Cash Flow | -1.52B | 7.11B | 1.84B | 3.31B | 20.22B | 4.28B |
| Operating Cash Flow | -802.75M | 9.40B | 4.67B | 4.12B | 21.30B | 5.30B |
| Investing Cash Flow | 5.32B | -182.35M | -7.09B | -7.22B | -11.71B | -5.73B |
| Financing Cash Flow | -38.68M | -1.92B | -2.18B | -1.48B | -1.71B | -1.49B |
Bharat Dynamics Ltd. Technical Analysis
Negative
1541.75
Price Trends
1309.69
Negative
1314.40
Negative
1405.69
Negative
Market Momentum
-39.29
Positive
41.36
Neutral
39.07
Neutral
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 1244.19, above the 50-day MA of 1309.69, and above the 200-day MA of 1405.69, indicating a bearish trend. The MACD of -39.29 indicates Positive momentum. The RSI at 41.36 is Neutral, neither overbought nor oversold. The STOCH value of 39.07 is Neutral, 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 (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹2.80T | 31.44 | ― | 0.90% | 6.80% | 8.98% | |
71 Outperform | ₹971.72B | 35.65 | ― | 0.47% | 13.77% | 14.39% | |
67 Neutral | ₹2.97T | 49.53 | ― | 0.60% | 16.16% | 13.86% | |
67 Neutral | ₹303.34B | 40.88 | ― | 0.80% | 37.95% | 41.82% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
56 Neutral | ₹439.75B | 105.41 | ― | 0.33% | -27.00% | -23.51% | |
55 Neutral | ₹374.59B | 51.83 | ― | 0.59% | 4.19% | -13.39% |
* Industrials Sector Average
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Bharat Dynamics Ltd. Corporate Events
BDL Delivers India’s First Indigenous Production-Grade Heavyweight Torpedo
Apr 25, 2026
Bharat Dynamics Limited has marked a major step in India’s defence manufacturing push by delivering the first production-grade indigenous Wire Guided Heavy Weight Torpedo to the Naval Science and Technological Laboratory at its Visakhapatnam...
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.