Shares of Bharat Dynamics declined 2.15% and were trading at Rs 1,571.00 on the NSE at 09:36 am. The stock is among the top losers on the Nifty Midcap 150 index, reflecting a notable decrease from its previous close.
Bharat Dynamics is included as one of the stocks in the Nifty Midcap 150 index.
Bharat Dynamics Financials
Here is a detailed look into Bharat Dynamics' financial performance.
Income Statement - Standalone (Annual)
The following table presents the standalone annual income statement of Bharat Dynamics.
| 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, while in March 2024, the sales were Rs 2,369 Crore. This indicates an increase in sales. The net profit for the year ending March 2025 was Rs 549 Crore, compared to Rs 612 Crore in March 2024, representing a decrease in net profit.
Income Statement - Standalone (Quarterly)
The following table presents the standalone quarterly income statement of Bharat Dynamics.
| Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | |
|---|---|---|---|---|---|
| Sales | Rs 247 Crore | Rs 1,776 Crore | Rs 832 Crore | Rs 544 Crore | Rs 191 Crore |
| Other Income | Rs 86 Crore | Rs 99 Crore | Rs 84 Crore | Rs 86 Crore | Rs 80 Crore |
| Total Income | Rs 334 Crore | Rs 1,876 Crore | Rs 916 Crore | Rs 630 Crore | Rs 271 Crore |
| Total Expenditure | Rs 310 Crore | Rs 1,497 Crore | Rs 722 Crore | Rs 463 Crore | Rs 259 Crore |
| EBIT | Rs 23 Crore | Rs 378 Crore | Rs 193 Crore | Rs 167 Crore | Rs 12 Crore |
| Interest | Rs 0 Crore | Rs 0 Crore | Rs 0 Crore | Rs 0 Crore | Rs 1 Crore |
| Tax | Rs 4 Crore | Rs 105 Crore | Rs 45 Crore | Rs 43 Crore | Rs 4 Crore |
| Net Profit | Rs 18 Crore | Rs 272 Crore | Rs 147 Crore | Rs 122 Crore | Rs 7 Crore |
In the quarter ending June 2025, Bharat Dynamics reported sales of Rs 247 Crore, a decrease compared to Rs 1,776 Crore in the quarter ending March 2025. Similarly, the net profit for the quarter ending June 2025 was Rs 18 Crore, also lower than the Rs 272 Crore reported for the quarter ending March 2025.
Cash Flow
The following table shows the cash flow from operating, investing, and financing activities.
| 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 balance sheet data for Bharat Dynamics.
| 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 |
Key Financial Ratios
Key financial ratios for Bharat Dynamics are as follows:
| Ratio | 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 |
The Basic and Diluted EPS for the year ending March 2025 were Rs 14.99 each. Key valuation ratios reveal a P/E ratio of 85.48 and a P/B ratio of 11.71.
Corporate Actions
The board of directors at Bharat Dynamics Ltd had a meeting on August 12, 2025, where they considered and approved the unaudited financial results for the quarter ended June 30, 2025.
The company had previously announced a stock split, with the ex-split date set for May 24, 2024. As a result, the face value of the shares changed from Rs 10 to Rs 5.
Bharat Dynamics had also announced an interim dividend of Rs 4 per share, which is equivalent to 80%. This dividend was effective from February 14, 2025.
Moneycontrol analysis indicates bearish sentiment on the stock.
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