Obermatt

Bharat Electronics

NSI:BEL · INE263A01024
Aerospace & DefenseX-Large

360

70
EV / EBIT31
Price / Owner Earnings53
Owner Earnings Yield60
Dividend Yield45
Price/Sales8
EV / Gross Profit40
Price/Book3
Return on Capital99
Cash Return on Capital94
Return on Equity84
EBIT Margin97
Gross Profitability97
Cash Conversion14
Owner Earnings Margin90
Sales growth74
Profit Growth78
Long-Term EPS Growth52
Reinvestment37
Price momentum55
Debt load93
Refinancing40
Debt Payback100
Liquidity98
Analyst ratings57
Opinion Changes67
Price Target Upside53
Market mood97
Value Creation17/20strong value creator
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Bharat Electronics generates returns well above its cost of capital, the foundation of durable shareholder value.

Based on 3/5 components.

Profile

CountryIndia
IndustryAerospace & Defense
SizeX-Large
TypePublic Company
ExchangeBSE
Founded1954
Employees1,923
ISININE263A01024
Last UpdateApr 2, 2026
Themes
Drone TechnologyNetwork SecurityPhysical SecuritySensorsUtility Scale SolarOnshore and Offshore WindHomeland SecurityDetectors, Sensors and MemsDefenseTechElectronicsGovernmentInformation TechnologyManufacturingNational SecurityService Industry

Description

Analysis

Quality compounder

Bharat Electronics Limited earns the quality_compounder label: good underlying economics priced fairly, with no obvious bargain or excess. Worth noting: the cash the business generates has lagged behind what the income statement shows.

On valuation, the picture is expensive. The owner-earnings multiple stands at 48.0×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around 18% a year, against analyst forecasts of 18%. The price, in other words, assumes less than the experts do.

Growth is moderate; the safety picture is sturdy. The company scores 17/20 on our value-creation score: strong value creator. Analyst sentiment is cautious.

Flags to be aware of: Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
83
2023202420252026

All-time high

97

Jan 2023

All-time low

81

Mar 2026

Average rank

89

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
8
9
19
35
Price/Earnings
8
33
34
50
Price/Book
3
10
23
30
Dividend Yield
45
57
63
69
Value (overall)
6
23
29
43

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →