BEL Q1 FY27 Results: Revenue Up 25.27% to ₹5,533 Crore, PAT Grows 8.17%
Bharat Electronics Limited reported Q1 FY27 revenue of ₹5,533 crore, up 25.27% YoY. PAT grew 8.17% to ₹1,048 crore. The order book stands at ₹72,258 crore. Management confirmed meeting the annual order inflow guidance of ₹55,000 crore and expects QRSAM approval by September. Receivables improved to 140 days.
The significant revenue and profit growth, coupled with a strong order book and positive outlook on key projects like QRSAM and Kusha, indicates a substantial positive impact on the company's financial performance and future prospects.
The company reported strong year-on-year growth in revenue and profit, along with an improved order book position and better receivables management. Management's confidence in meeting annual guidance and addressing concerns positively influences the sentiment.
Bharat Electronics Limited (BEL) announced its financial results for the first quarter of FY27, reporting a significant 25.27% year-on-year increase in revenue from operations, reaching ₹5,533 crore compared to ₹4,417 crore in the same quarter last year.
The company's Profit Before Tax (PBT) saw an 8.81% rise, amounting to ₹1,403 crore from ₹1,289 crore in Q1 FY26. Profit After Tax (PAT) grew by 8.17% to ₹1,048 crore from ₹969 crore in the prior year's first quarter. The EBITDA margin for the quarter stood at 25.83%, and Earnings Per Share (EPS) increased to ₹1.43 from ₹1.33 year-on-year.
As of July 1, 2026, BEL's order book position was ₹72,258 crore, with new orders acquired during the quarter amounting to ₹3,754 crore. The company addressed concerns regarding lower order inflows in Q1 FY27 compared to the previous year, explaining it was due to a more structured inflow this year, with significant orders from the previous fiscal year spilling over into the current quarter's inflows. BEL reaffirmed its commitment to meeting the annual order inflow guidance of ₹55,000 crore, which includes the QRSAM project.
Regarding the QRSAM order, management indicated that while there were procedural delays, approval is still expected by September. For Project Kusha, BEL, as a key DCPP partner to DRDO, is supporting the ongoing testing phases and anticipates an order in the range of ₹40,000 crore, with minimum assured orders of ₹28,000-29,000 crore, though the RFP for commercial activities is still some time away.
The company also provided an update on its receivables, which improved to 140 days as of June 30, 2026, from 176 days on March 31, 2026. Management reiterated the EBITDA margin guidance of 28% for the full year, attributing quarterly variations to product mix rather than input cost pressures. BEL is actively focusing on indigenization, aiming for zero imports at the module level within five years, and is increasing its R&D budget to support this initiative and other technological developments.
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