Bharat Dynamics quarterly results and financials

Bharat Dynamics (BDL)₹1,110+3.80%(9 Nov 2026 close)Aerospace & Defense

Key facts

In the Mar 2026 quarter (standalone), Bharat Dynamics reported sales of ₹479 Cr, down 73.0% from Mar 2025, and net profit of ₹113 Cr, down 58.6% year on year. For the year to Mar 2026, sales were ₹2,439 Cr and net profit ₹419 Cr.

Sales (Mar 2026): ₹479 Cr
Net profit (Mar 2026): ₹113 Cr
Sales (FY Mar 2026): ₹2,439 Cr
Net profit (FY Mar 2026): ₹419 Cr
EPS (Mar 2026): ₹3.10
Borrowings (Mar 2026): ₹0 Cr

Company filings, standalone accounts; latest reported quarter Mar 2026

Bharat Dynamics quarterly results

₹ crore unless stated; each column is a quarter.

Bharat Dynamics Quarterly results
	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales	297	614	601	853	191	544	830	1,774	247	1,145	566	479
Expenses	329	480	481	536	242	445	702	1,472	292	956	539	424
Operating Profit	−33.06	134	119	316	−52.08	99.11	127	299	−45.06	188	26.03	55.06
OPM %	−11.0%	22.0%	20.0%	37.0%	−27.1%	18.0%	15.0%	17.0%	−18.0%	16.0%	4.6%	12.0%
Other Income	107	78.05	88.04	88.05	80.10	86.03	84.06	100	87.04	121	97.06	119
Interest	1.01	1.01	1.01	1.01	1.01	1.01	1.01	1.01	1.01	1.01	1.01	1.01
Depreciation	17.02	17.02	16.03	16.03	16.02	18.03	18.04	20.04	18.03	19.03	19.03	20.03
Profit before tax	56.84	193	188	387	10.96	165	192	377	22.92	287	103	153
Tax %	27.0%	23.9%	29.0%	25.9%	35.9%	26.0%	24.0%	28.0%	20.9%	25.0%	29.0%	25.9%
Net Profit	41.85	147	135	288	6.98	123	147	272	17.95	216	72.75	113
EPS (Rs)	1.15	4.03	3.70	7.91	0.21	3.35	4.02	7.47	0.51	5.91	2.00	3.10

Bharat Dynamics profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

Bharat Dynamics Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	4,070	4,881	4,581	3,065	3,098	1,912	2,811	2,485	2,367	3,339	2,439	2,438
Expenses	3,551	4,298	3,905	2,436	2,338	1,562	2,080	2,073	1,826	2,860	2,210	2,211
Operating Profit	516	570	670	624	757	346	728	410	538	473	223	224
OPM %	13.0%	12.0%	15.0%	20.0%	24.0%	18.0%	26.0%	16.0%	23.0%	14.0%	9.0%	9.2%
Other Income	385	300	173	136	87.99	95.05	78.03	155	362	350	424	424
Interest	5.01	4.01	4.01	5.01	5.01	5.01	5.01	6.01	4.01	4.01	3.01	4.04
Depreciation	53.12	62.12	63.13	82.08	96.15	95.17	90.19	77.07	67.14	71.14	76.12	76.12
Profit before tax	838	800	772	669	739	340	707	480	826	747	566	566
Tax %	32.9%	35.0%	31.9%	36.9%	27.9%	23.9%	29.9%	27.0%	25.9%	27.0%	25.9%	—
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	−22.95	0.00	0.00	0.00	0.00	—
Net Profit	561	522	526	422	534	257	499	351	612	549	419	419
EPS (Rs)	2,818.77	2,190.19	14.47	11.56	14.64	7.06	13.69	9.65	16.77	15.04	11.52	11.52
Dividend payout %	29.9%	29.9%	24.9%	29.9%	29.9%	52.0%	29.9%	48.9%	32.0%	31.0%	43.0%	—

Bharat Dynamics balance sheet

₹ crore, at each year end.

Bharat Dynamics Balance sheet
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	115	97.81	122	182	182	183	183	183	183	182	183	182
Reserves	1,536	1,752	2,070	1,771	2,082	2,420	2,498	2,841	3,023	3,449	3,820	4,055
Borrowings	0.00	3.99	3.99	3.99	5.01	14.99	10.99	9.99	9.01	7.99	6.99	0.00
Other Liabilities	6,749	7,774	6,206	4,694	3,250	3,125	3,334	3,595	5,526	6,776	7,801	10,002
Total Liabilities	8,400	9,628	8,401	6,652	5,520	5,743	6,027	6,629	8,742	10,416	11,810	14,240
Fixed Assets	517	696	757	867	957	932	915	873	809	823	857	1,003
CWIP	142	126	136	130	46.99	42.02	22.01	41.02	74.01	73.01	230	174
Investments	2.99	2.99	2.99	238	3.99	3.99	4.99	0.00	0.00	0.00	3.99	3.99
Other Assets	7,737	8,802	7,506	5,417	4,513	4,764	5,086	5,715	7,859	9,521	10,719	13,060
Inventories	1,472	2,053	2,261	1,979	1,714	919	1,461	1,720	1,899	2,061	2,706	4,614
Trade receivables	335	145	155	771	527	338	323	304	185	310	827	424
Cash & equivalents	3,657	3,231	1,735	356	370	661	1,556	1,897	3,851	4,219	4,178	4,694
Total Assets	8,400	9,628	8,401	6,652	5,520	5,743	6,027	6,629	8,742	10,416	11,810	14,240

Bharat Dynamics cash flow

₹ crore, for each year.

Bharat Dynamics Cash flow
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	−768	285	−422	−343	84.30	505	1,072	531	2,135	413	168	606
Cash from investing activity	239	149	3.01	1,050	171	−33.06	−735	−575	−1,173	−724	−408	321
Cash from financing activity	−72.13	−324	−166	−770	−269	−191	−173	−149	−171	−148	−220	−194
Net cash flow	−595	109	−581	−62.78	−14.94	279	161	−191	785	−457	−458	726
Capex	178	216	136	169	88.06	57.01	57.01	102	108	81.12	283	229
Free cash flow	−946	68.19	−558	−512	−5.01	449	1,015	429	2,027	332	−115	376
CFO / OP %	−197.0%	109.0%	−15.0%	−12.9%	61.1%	90.0%	332.0%	101.0%	574.1%	106.1%	78.1%	368.1%

Bharat Dynamics ratios

Working-capital days and returns, by year.

Bharat Dynamics Ratios
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	42	12	11	60	62	39	61	38	26	47	89	62
Inventory days	286	302	276	254	380	222	636	534	584	841	591	1,381
Days payable	100	202	186	129	115	83	322	171	142	325	328	846
Cash conversion cycle	231	115	102	187	329	179	376	404	470	565	355	599
Working capital days	−126	−106	−11	44	128	195	169	144	237	322	207	254
ROCE %	—	48.1%	40.1%	37.0%	32.1%	31.0%	13.1%	26.1%	16.1%	24.0%	20.1%	14.1%

Bharat Dynamics: frequently asked questions

What are the latest quarterly results of Bharat Dynamics?

For the Mar 2026 quarter, Bharat Dynamics reported sales of ₹479 Cr, down 73.0% year on year and net profit of ₹113 Cr, down 58.6% year on year. The operating margin was 12.0%.

What is the annual revenue of Bharat Dynamics?

Bharat Dynamics' sales for the year to Mar 2026 were ₹2,439 Cr; over the last twelve months they were ₹2,438 Cr.

What is the net profit of Bharat Dynamics?

Net profit for the year to Mar 2026 was ₹419 Cr, and ₹419 Cr over the last twelve months. Earnings per share over the same trailing period were ₹11.52.

How much debt does Bharat Dynamics have?

Bharat Dynamics reported borrowings of ₹0 Cr at Mar 2026, against cash and equivalents of ₹4,694 Cr.

What is the free cash flow of Bharat Dynamics?

Cash from operations was ₹606 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹376 Cr.

Loading…