Bharat Electronics Limited vs Bharat Dynamics Limited
An objective side-by-side of BEL and BDL, both in Aerospace & Defense: valuation, profitability, growth, balance sheet, ownership and share-price performance. Where one number is clearly better on its own terms (lower P/E, higher ROE), it is shaded. That is a description, not a recommendation.
Prices as of 2026-10-13 close
Latest results: BEL Jun 2026 · BDL Jun 2026
At a glance
- Bharat Electronics Limited is the larger company by market value, about 6.7 times the size of Bharat Dynamics Limited.
- On trailing earnings, Bharat Electronics Limited trades at the lower P/E (45.2 against 79.3).
- Bharat Electronics Limited earns the higher return on equity (25.6% against 12.3%).
- Over three years Bharat Electronics Limited has grown profits faster (27% a year against 6%).
- Over the past year the share prices returned -7.4% (BEL) and -26.4% (BDL).
| Metric | Bharat Electronics BEL |
Bharat Dynamics BDL |
|---|---|---|
| Size and price | ||
| Market cap | ₹277,772 Cr | ₹41,271 Cr |
| Share price | ₹380.00 | ₹1,125.90 |
| Valuation | ||
| P/E | 45.19 | 79.28 |
| P/B | 11.58 | 9.73 |
| EV/EBITDA | 33.91 | 117.39 |
| PEG | 1.67 | 13.21 |
| Dividend yield | 0.6% | 0.4% |
| Profitability | ||
| ROE | 25.6% | 12.3% |
| ROCE | 37.0% | 14.0% |
| Operating margin | 28.6% | 12.7% |
| Sales (TTM) | ₹28,689 Cr | ₹2,766 Cr |
| Net profit (TTM) | ₹6,147 Cr | ₹521 Cr |
| Growth | ||
| Latest quarter sales YoY | +25.6% | +130.8% |
| Latest quarter profit YoY | +8.8% | +547.4% |
| Sales CAGR 3Y | +16.0% | -1.0% |
| Profit CAGR 3Y | +27.0% | +6.0% |
| Sales CAGR 5Y | +14.0% | +5.0% |
| Profit CAGR 5Y | +24.0% | +10.0% |
| Financial strength | ||
| Debt/Equity | 0.00 | 0.00 |
| Interest cover | 1,058.52 | 39.53 |
| Ownership | ||
| Promoter holding | 51.1% | 74.9% |
| Promoter change (4 qtrs) | +0.00 pp | +0.00 pp |
| Price performance | ||
| Return 1M | -6.17% | -5.78% |
| Return 3M | -7.34% | -11.89% |
| Return 1Y | -7.38% | -26.39% |
| Return YTD | -4.90% | -23.23% |
| Technical condition | ||
| Technical score | 25 | 29 |
| RS rating (1-99) | 45.00 | 24.00 |
| % vs 200-DMA | -8.94% | -13.94% |
| RSI (14) | 42.66 | 45.63 |
| % from 52-week high | -19.74% | -31.07% |
