New Delhi— Bharat Electronics Ltd (BEL), the government-owned defense PSU, reported a robust financial performance for the fourth quarter of FY25, ending March 31. The company posted a net profit of ₹2,127 crore, marking an 18.4% year-on-year (YoY) growth, up from ₹1,797 crore in the same period last year.
Revenue for the March quarter stood at ₹9,149 crore, reflecting a 6.8% YoY increase from ₹8,564 crore. Operating margins also improved significantly, with EBITDA rising 23% to ₹2,815.5 crore, and the EBITDA margin expanding to 30.8%, compared to 26.7% a year ago.
BEL attributed its strong quarterly performance to improved operational efficiency and timely execution of key defense orders.
The company has maintained steady growth throughout FY25, achieving a total annual revenue of ₹23,000 crore, up 16% compared to ₹19,820 crore in FY24. BEL also reported export sales of $106 million during the year, up from $92.98 million previously.
Ahead of the results, BEL’s stock hit a 52-week high of ₹373.50 on the NSE, gaining nearly 3% in intraday trade. The stock has surged over 22% in just seven sessions, and is up 17% so far in May. This bullish trend reflects growing investor confidence, especially as the company’s order book swelled to ₹71,650 crore, including export orders worth $359 million.
In addition to its earnings, the Board of Directors has declared a final dividend of ₹0.90 per equity share for FY25, underscoring the company’s strong cash position and commitment to shareholder value.
Brokerage firms including Kotak Institutional Equities and Motilal Oswal had anticipated solid results, with Kotak expecting revenue to grow 6% YoY and PAT to increase by nearly 5.8%. While the company outperformed these expectations, technical analysts are advising caution at current levels.
With the stock significantly extended from its key moving averages and RSI levels indicating overbought territory, analysts suggest waiting for a potential pullback or consolidation before making fresh entries.
Looking ahead, BEL is focused on executing large-scale defense projects such as the QRSAM, MRSAM, LRSAM missile systems, and electronic warfare solutions.
Further indigenization of components and increased export orders are also expected to support margin expansion and long-term growth.
With strong fundamentals, a record order book, and solid earnings momentum, BEL continues to position itself as a leading force in India’s defense manufacturing landscape, despite near-term technical signals suggesting caution for traders.