Shares of Bharat Dynamics declined 2.11% to Rs 1,482.00 in Tuesday's session. The stock is currently trading on the NSE and is part of the Nifty Midcap 150 index. This price movement reflects a 2.11 percent decrease from its previous close.
Financial Overview:
Bharat Dynamics' financial performance reveals the following trends based on standalone figures:
Income Statement (Annual):
The following table summarizes the company's annual income statement data:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Sales | Rs 3,345 Crore | Rs 2,369 Crore | Rs 2,489 Crore | Rs 2,817 Crore | Rs 1,913 Crore |
| Other Income | Rs 350 Crore | Rs 361 Crore | Rs 155 Crore | Rs 111 Crore | Rs 94 Crore |
| Total Income | Rs 3,695 Crore | Rs 2,731 Crore | Rs 2,644 Crore | Rs 2,928 Crore | Rs 2,008 Crore |
| Total Expenditure | Rs 2,943 Crore | Rs 1,899 Crore | Rs 2,158 Crore | Rs 2,215 Crore | Rs 1,663 Crore |
| EBIT | Rs 752 Crore | Rs 831 Crore | Rs 486 Crore | Rs 713 Crore | Rs 344 Crore |
| Interest | Rs 3 Crore | Rs 3 Crore | Rs 4 Crore | Rs 3 Crore | Rs 3 Crore |
| Tax | Rs 199 Crore | Rs 215 Crore | Rs 129 Crore | Rs 209 Crore | Rs 83 Crore |
| Net Profit | Rs 549 Crore | Rs 612 Crore | Rs 352 Crore | Rs 499 Crore | Rs 257 Crore |
The sales for the year ending March 2025 stood at Rs 3,345 Crore, which is higher compared to the previous year's sales of Rs 2,369 Crore. The net profit for the year ending March 2025 was Rs 549 Crore, while in March 2024, it was Rs 612 Crore.
Income Statement (Quarterly):
The following table summarizes the company's quarterly income statement data:
| Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | |
|---|---|---|---|---|---|
| Sales | Rs 1,776 Crore | Rs 832 Crore | Rs 544 Crore | Rs 191 Crore | Rs 854 Crore |
| Other Income | Rs 99 Crore | Rs 84 Crore | Rs 86 Crore | Rs 80 Crore | Rs 88 Crore |
| Total Income | Rs 1,876 Crore | Rs 916 Crore | Rs 630 Crore | Rs 271 Crore | Rs 942 Crore |
| Total Expenditure | Rs 1,497 Crore | Rs 722 Crore | Rs 463 Crore | Rs 259 Crore | Rs 553 Crore |
| EBIT | Rs 378 Crore | Rs 193 Crore | Rs 167 Crore | Rs 12 Crore | Rs 388 Crore |
| Interest | Rs 0 Crore | Rs 0 Crore | Rs 0 Crore | Rs 1 Crore | Rs 0 Crore |
| Tax | Rs 105 Crore | Rs 45 Crore | Rs 43 Crore | Rs 4 Crore | Rs 99 Crore |
| Net Profit | Rs 272 Crore | Rs 147 Crore | Rs 122 Crore | Rs 7 Crore | Rs 288 Crore |
The sales for the quarter ending March 2025 stood at Rs 1,776 Crore, which is significantly higher compared to the sales of Rs 832 Crore in the previous quarter of December 2024. The net profit for the quarter ending March 2025 was Rs 272 Crore, while in March 2024, it was Rs 288 Crore.
Cash Flow:
The following table summarizes the company's cash flow data:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Operating Activities | Rs 167 Crore | Rs 411 Crore | Rs 2,130 Crore | Rs 529 Crore | Rs 1,068 Crore |
| Investing Activities | Rs -407 Crore | Rs -722 Crore | Rs -1,171 Crore | Rs -573 Crore | Rs -733 Crore |
| Financing Activities | Rs -220 Crore | Rs -148 Crore | Rs -171 Crore | Rs -148 Crore | Rs -172 Crore |
| Others | Rs 0 Crore | Rs 0 Crore | Rs 0 Crore | Rs 0 Crore | Rs 0 Crore |
| Net Cash Flow | Rs -459 Crore | Rs -459 Crore | Rs 787 Crore | Rs -191 Crore | Rs 161 Crore |
Balance Sheet:
The following table presents the company's balance sheet data:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Share Capital | Rs 183 Crore | Rs 183 Crore | Rs 183 Crore | Rs 183 Crore | Rs 183 Crore |
| Reserves & Surplus | Rs 3,825 Crore | Rs 3,453 Crore | Rs 3,028 Crore | Rs 2,847 Crore | Rs 2,501 Crore |
| Current Liabilities | Rs 4,360 Crore | Rs 3,005 Crore | Rs 2,205 Crore | Rs 2,581 Crore | Rs 2,520 Crore |
| Other Liabilities | Rs 3,373 Crore | Rs 3,697 Crore | Rs 3,254 Crore | Rs 952 Crore | Rs 756 Crore |
| Total Liabilities | Rs 11,742 Crore | Rs 10,340 Crore | Rs 8,672 Crore | Rs 6,563 Crore | Rs 5,961 Crore |
| Fixed Assets | Rs 1,087 Crore | Rs 896 Crore | Rs 882 Crore | Rs 914 Crore | Rs 936 Crore |
| Current Assets | Rs 10,377 Crore | Rs 9,239 Crore | Rs 7,600 Crore | Rs 5,523 Crore | Rs 4,899 Crore |
| Other Assets | Rs 277 Crore | Rs 204 Crore | Rs 189 Crore | Rs 126 Crore | Rs 126 Crore |
| Total Assets | Rs 11,742 Crore | Rs 10,340 Crore | Rs 8,672 Crore | Rs 6,563 Crore | Rs 5,961 Crore |
| Contingent Liabilities | Rs 0 Crore | Rs 697 Crore | Rs 607 Crore | Rs 471 Crore | Rs 357 Crore |
Financial Ratios:
Key financial ratios for Bharat Dynamics are as follows:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Basic EPS (Rs.) | 14.99 | 33.43 | 19.22 | 27.28 | 14.06 |
| Diluted Eps (Rs.) | 14.99 | 33.43 | 19.22 | 27.28 | 14.06 |
| Book Value /Share (Rs.) | 109.37 | 198.43 | 175.22 | 165.35 | 146.48 |
| Dividend/Share (Rs.) | 4.65 | 10.55 | 9.35 | 8.30 | 7.35 |
| Face Value | 5 | 10 | 10 | 10 | 10 |
| Gross Profit Margin (%) | 24.59 | 37.91 | 22.63 | 29.71 | 22.95 |
| Operating Margin (%) | 22.48 | 35.08 | 19.53 | 26.51 | 18.01 |
| Net Profit Margin (%) | 16.43 | 25.86 | 14.14 | 17.74 | 13.46 |
| Return on Networth / Equity (%) | 13.71 | 16.84 | 10.96 | 16.49 | 9.60 |
| ROCE (%) | 10.18 | 11.33 | 7.52 | 18.75 | 10.02 |
| Return On Assets (%) | 4.68 | 5.92 | 4.06 | 7.61 | 4.32 |
| Current Ratio (X) | 2.38 | 3.07 | 3.45 | 2.14 | 1.94 |
| Quick Ratio (X) | 1.77 | 2.41 | 2.62 | 1.50 | 1.39 |
| Debt to Equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Coverage Ratios (X) | 248.64 | 289.31 | 124.24 | 244.51 | 112.28 |
| Asset Turnover Ratio (%) | 0.30 | 0.25 | 0.33 | 0.45 | 0.33 |
| Inventory Turnover Ratio (X) | 0.91 | 0.58 | 0.69 | 0.83 | 0.86 |
| 3 Yr CAGR Sales (%) | 8.96 | 11.27 | -10.32 | -4.19 | -35.41 |
| 3 Yr CAGR Net Profit (%) | 4.86 | 54.18 | -18.86 | 8.77 | -30.14 |
| P/E (x) | 85.48 | 26.20 | 25.72 | 10.07 | 11.83 |
| P/B (x) | 11.71 | 8.83 | 5.64 | 3.31 | 2.27 |
| EV/EBITDA (x) | 51.97 | 31.02 | 25.31 | 9.70 | 10.32 |
| P/S (x) | 14.03 | 13.55 | 7.28 | 3.56 | 3.19 |
Bharat Dynamics announced several corporate actions. The Board of Directors is scheduled to meet on August 12, 2025, to consider and approve the unaudited financial results for the quarter ended June 30, 2025. Additionally, the company announced newspaper publication relating to IEPF on July 31, 2025. The company also announced receipt of order for supply of one of the ATGM from M/s. Armoured Vehicles Nigam Limited on July 25, 2025.
The company has announced several dividends in the past, including an interim dividend of Rs.4.00 per share (80%) with an effective date of February 14, 2025.
Bharat Dynamics had a stock split, with the old face value of Rs 10 being split to a new face value of Rs 5. The ex-split date was May 24, 2024.
According to a Moneycontrol analysis as of August 8, 2025, the sentiment for Bharat Dynamics is bearish.
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