Hindustan Aeronautics Limited vs Bharat Electronics Limited
An objective side-by-side of HAL and BEL, 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: HAL Jun 2026 · BEL Jun 2026
At a glance
- Hindustan Aeronautics Limited is the larger company by market value, about 1.2 times the size of Bharat Electronics Limited.
- On trailing earnings, Hindustan Aeronautics Limited trades at the lower P/E (34.9 against 45.2).
- Bharat Electronics Limited earns the higher return on equity (25.6% against 22.7%).
- Over three years Bharat Electronics Limited has grown profits faster (27% a year against 16%).
- Over the past year the share prices returned +0.6% (HAL) and -7.4% (BEL).
| Metric | Hindustan Aeronautics HAL |
Bharat Electronics BEL |
|---|---|---|
| Size and price | ||
| Market cap | ₹325,627 Cr | ₹277,772 Cr |
| Share price | ₹4,869.00 | ₹380.00 |
| Valuation | ||
| P/E | 34.93 | 45.19 |
| P/B | 7.93 | 11.58 |
| EV/EBITDA | 32.52 | 33.91 |
| PEG | 2.18 | 1.67 |
| Dividend yield | 0.8% | 0.6% |
| Profitability | ||
| ROE | 22.7% | 25.6% |
| ROCE | 32.0% | 37.0% |
| Operating margin | 29.6% | 28.6% |
| Sales (TTM) | ₹33,785 Cr | ₹28,689 Cr |
| Net profit (TTM) | ₹9,321 Cr | ₹6,147 Cr |
| Growth | ||
| Latest quarter sales YoY | +14.4% | +25.6% |
| Latest quarter profit YoY | +14.9% | +8.8% |
| Sales CAGR 3Y | +7.0% | +16.0% |
| Profit CAGR 3Y | +16.0% | +27.0% |
| Sales CAGR 5Y | +8.0% | +14.0% |
| Profit CAGR 5Y | +23.0% | +24.0% |
| Financial strength | ||
| Debt/Equity | 0.00 | 0.00 |
| Interest cover | 1,486.85 | 1,058.52 |
| Ownership | ||
| Promoter holding | 71.6% | 51.1% |
| Promoter change (4 qtrs) | +0.00 pp | +0.00 pp |
| Price performance | ||
| Return 1M | -1.64% | -6.17% |
| Return 3M | +9.60% | -7.34% |
| Return 1Y | +0.65% | -7.38% |
| Return YTD | +10.94% | -4.90% |
| Technical condition | ||
| Technical score | 70 | 25 |
| RS rating (1-99) | 71.00 | 45.00 |
| % vs 200-DMA | +10.07% | -8.94% |
| RSI (14) | 55.59 | 42.66 |
| % from 52-week high | -5.45% | -19.74% |
