Bharat Electronics Limited (BEL), India’s flagship defence PSU, witnessed a sharp rally after announcing
strong Q3 FY26 earnings. On January 28, 2026, BEL shares traded at ₹453 on NSE, jumping 8.91% intraday.
Previous Close: ₹415.95
52-Week High: ₹457.50
Day Range: ₹417.30 – ₹457.50
Volume: 71+ million shares (vs 14M avg)
Market Cap: ₹3.31 lakh crore
P/E Ratio: 58.23
EPS: ₹7.78
💰 Q3 FY26 Earnings Highlights
BEL delivered a solid earnings beat in Q3 FY26, powered by higher defence execution and margin expansion.
Net Profit: ₹1,579 crore (+20.45% YoY)
Revenue: ₹7,154 crore (+23.96% YoY)
EBITDA: ₹2,127 crore (+27.3% YoY)
EBITDA Margin: 29.7% (vs 28.9% last year)
Standalone performance remained equally strong, with PAT rising 20.81% to ₹1,590 crore.
Expenses increased due to higher material costs, reflecting strong order execution.
🛡️ Order Book Strength: A Long-Term Growth Engine
BEL’s order book surged to ₹73,015 crore as of January 1, 2026, ensuring strong revenue
visibility for the coming years.
₹610 crore orders after January 8
₹569 crore orders on January 1
Major contracts for radars, tank upgrades, communication systems, and simulators
This robust backlog aligns with India’s defence indigenisation push and rising export opportunities.
📊 Stock Performance Trend
BEL stock reacted sharply to the results, closing at ₹454.25 on January 27, up over 9%.
1 Month: +15.5%
6 Months: +17%
1 Year: +76%
50-DMA: ₹405
200-DMA: ₹393
The stock continues to trade well above key moving averages, indicating strong bullish momentum.
🔮 Market Outlook: Opportunity vs Valuation Risk
The defence sector remains a structural growth story, supported by government capex, export orders,
and technological upgrades. BEL’s leadership in radars, electronic warfare, and fire-control systems
keeps it well-positioned.
However, with valuations at ~58x earnings, short-term profit booking cannot be ruled out.
Long-term investors may prefer a buy-on-dips strategy.
BEL combines defence dominance with execution strength — but valuations demand discipline.
Disclaimer: Yeh views market experts ke hain and not of trueincome. Investment karne se pehle certified advisor se consult zaroor karein.
